"a realistic figure for a forex trader is 30 to 50% profit per year." that was the kind of answer I was looking for, but I understand that it's very oversimplified and that a day trader usually makes more than a swing trader etc...
But thanks for telling how you have done, more stories of how others first time as a trader have been would be much appreciated.
I guessed that the poker-trading parallel would be controversial. Still I think it's much the same.
You say:
"There are 100 million things such as technical and fundamental analysis,volumes,momentems,money managemnt,hi's & low's,daily trend,hourly trend,monthly trend,pivots,trend strenght etc etc etc have to be considered before you click that buy or sell button."
I say
"There are 100 million things such as game theory, cards, odds, implied odds, implied reverse odds, outs, counter outs, position, relative position, tournament, ring game dead-money, on-line, off-line, type of poker, limit, site, time of the day, week, month, money management on and off table, amount of tables to play, risk/reward ratio, type of opponent that have acted, type of opponent yet to act, mood at the table, etc etc etc".
have to be considered before you click that fold, raise or call. Most people don't know this or don't understand how these variables work together and that's why most people lose money.
To me it's seams similar. Mostly because you have to learn balance a lot of wage information and use your education to "see" the future and act accordingly choosing the correct action of a few alternatives. In poker fold, raise or call in trading sell or buy. Poker players also use statistical programs.
Last edited by gambler; 02-20-2007 at 12:51 PM.
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