I have found this thread this morning, and been glued to it for the past 2 hours (reading it intently). Thanks so much for finally giving me something I’ve yearned for for so long: A portrayal of the experience of being a profitable trader.
I work as a psychologist, and so many times my clients want to “understand how it feels” to have a better self-esteem and happy life (sorry if this sounds weird, just my way of relating). You try and mentor them, assist them, guide them, teach them… but they struggle to relate to what you’re trying to convey, because their perspective is just way different than yours.
In many ways - that’s my experience currently with trading. I feel like one of my clients feeling their way in the dark trying to hold on to whatever small insight they can find. Running from one strategy to the next, trying anything in desperation to become profitable.
I’ve been trading for about a year, with MANY roller-coaster emotions. Gone live, but retreated back to demo. Been demo-ing for most of this year, studying MANY hours back- and forward testing. Frustrations and elation at different times.
But finally finding someone who could write about what expectations you should have is refreshing, and VERY helpful! I have busy and long days, so trading 4H and up is probably the only way for me to go. I do try H1 and lower, as so many people talk about 50% ROI and higher in such short periods.
But I believe finding your own “groove”, and understanding what type of trader you’re going to be is one of THE MOST IMPORTANT THINGS in trading (as reinforced by what you write thetradinggod). I don’t mean finding your trading strat only, but rather understanding your own expectations from trading, your goals, your own emotions, and how you will enjoy the process. We are all here because we probably LOVE trading (even though we hate it sometimes), and this should be a blessing in our lives - not a curse.
After reading this thread (and will continue to follow), I truly believe that calming down, setting my expectations to better standards, and just thinking logically about things will probably take me to success. My aim was to try for 2% ROI per day, but now I think 10% per month is fine for me. On a $10 000 acc, that would be $1000 per month, and in South Africa (where I live) that is a LOT of money and could pay my bills EASILY.
So for now, and until I become VERY competent in trading, my goal is 10% per month. Thanks for all the guidance thetradinggod. Really love the thread.
Not sure if you would be willing to take people on in mentor-ship, but if at all - drop me a PM. Thanks again.