How to be a Successful Full Time Trader

hasobha · #1 7th September 2005, 10:47 AM

Many times I think, rethink and think again, that whether it is advisible for anybody to become fultime trader. I am seeking advice from Full time trader on our discussion board, that what is the merit and demerit for full time trader. If anyone like me want to become fulltime trader, than one can survive and prosper ? he can live life with financial freedom ? why I wrote above lines beacose on uncertainity of market movement can anyone certain about his financial condition ?

hasobha

Traderji · #2 7th September 2005, 12:17 PM

In order to be a successful full time trader, you must understand the true realities of the markets. You must learn how the professionals make money and what is possible. Most traders enter the markets, lose a substantial portion of their capital and then leave trading without ever having a correct perception of what good trading is all about.

If you think that the way to make money is to learn how to predict where market prices are going next then you are mistaken. Though is may be difficult to believe and understand, the truth is that the markets are not predictable except in the most general way.

How do professionals make money?
As a professional I believe that the trend is your edge. If you follow trends with proper risk management methods and good market selection, you will make money in the long run. Good market selection refers to trading in good trending markets generally rather than selecting a particular situation likely to result in an immediate trend.

Hurdles that you have to overcome in order to be successful!
To be successful in trading you have to overcome these three hurdles:

The first is finding a trading method that actually has a statistical edge.

Second is following it with consistency.

Third is consistently following the method long enough for the edge to manifest itself on the bottom line.

If you can conquer these hurdles you are on the way to untold riches.

roneeth · #3 7th September 2005, 12:25 PM

Quote:

Originally Posted by Traderji

In order to be a successful full time trader, you must understand the true realities of the markets. You must learn how the professionals make money and what is possible. Most traders enter the markets, lose a substantial portion of their capital and then leave trading without ever having a correct perception of what good trading is all about.

If you think that the way to make money is to learn how to predict where market prices are going next then you are mistaken. Though is may be difficult to believe and understand, the truth is that the markets are not predictable except in the most general way.

How do professionals make money?
As a professional I believe that the trend is your edge. If you follow trends with proper risk management methods and good market selection, you will make money in the long run. Good market selection refers to trading in good trending markets generally rather than selecting a particular situation likely to result in an immediate trend.

Hurdles that you have to overcome in order to be successful!
To be successful in trading you have to overcome these three hurdles:

The first is finding a trading method that actually has a statistical edge.

Second is following it with consistency.

Third is consistently following the method long enough for the edge to manifest itself on the bottom line.

If you can conquer these hurdles you are on the way to untold riches.

Hello Traderji!

Its really nice reading your Posts ....Do keep posting often.....

Regards

Roneeth

hasobha · #4 7th September 2005, 04:55 PM

Excellent insight !!!

Thank you Traderji.

You have given good guidance to become Successful Full Time Trader.

As you know, due to excitement received through market, trader forgot everything about his financial needs, condition, what he wants , etc. So how to develop stable mindset for successful ?

You have pointed out that "You must learn how the professionals make money and what is possible", but how to learn about professionals, who have made fortune in market ? and professional means Technical Analyst or else ? Because in India you can only know about Technical Analyst but where to find Professionals ?

Hasobha

Saint · #5 8th September 2005, 11:38 AM

Quote:

Originally Posted by Traderji

In order to be a successful full time trader, you must understand the true realities of the markets. You must learn how the professionals make money and what is possible. Most traders enter the markets, lose a substantial portion of their capital and then leave trading without ever having a correct perception of what good trading is all about.

If you think that the way to make money is to learn how to predict where market prices are going next then you are mistaken. Though is may be difficult to believe and understand, the truth is that the markets are not predictable except in the most general way.

How do professionals make money?
As a professional I believe that the trend is your edge. If you follow trends with proper risk management methods and good market selection, you will make money in the long run. Good market selection refers to trading in good trending markets generally rather than selecting a particular situation likely to result in an immediate trend.

Hurdles that you have to overcome in order to be successful!
To be successful in trading you have to overcome these three hurdles:

The first is finding a trading method that actually has a statistical edge.

Second is following it with consistency.

Third is consistently following the method long enough for the edge to manifest itself on the bottom line.

If you can conquer these hurdles you are on the way to untold riches.

Great stuff,Traderji!!Thanks!

Saint

nkpanjiyar · #6 8th September 2005, 03:01 PM

Quote:

Originally Posted by Traderji

In order to be a successful full time trader, you must understand the true realities of the markets. You must learn how the professionals make money and what is possible. Most traders enter the markets, lose a substantial portion of their capital and then leave trading without ever having a correct perception of what good trading is all about.

If you think that the way to make money is to learn how to predict where market prices are going next then you are mistaken. Though is may be difficult to believe and understand, the truth is that the markets are not predictable except in the most general way.

How do professionals make money?
As a professional I believe that the trend is your edge. If you follow trends with proper risk management methods and good market selection, you will make money in the long run. Good market selection refers to trading in good trending markets generally rather than selecting a particular situation likely to result in an immediate trend.

Hurdles that you have to overcome in order to be successful!
To be successful in trading you have to overcome these three hurdles:

The first is finding a trading method that actually has a statistical edge.

Second is following it with consistency.

Third is consistently following the method long enough for the edge to manifest itself on the bottom line.

If you can conquer these hurdles you are on the way to untold riches.

Excellent Traderji. Such posts and knowledge we were missing.

cheers,
nkpanjiyar

zen4all · #7 11th September 2005, 03:46 PM

very insightful.....thanks a lot...

ridethesensex · #8 1st October 2005, 09:31 PM

Wonderfull stuff traderji, wish i had stumbled on this forum earlier...

This site is a wonderfull source of resources for newbies like me.

Happy trading..
Ridethesensex

staco · #9 4th October 2005, 10:30 PM

Namaskar Traderji,

Thanks a lot for giving a good letter and inculcating the trader to be religiously and saintly to follow the steps consistently to reach the goal of riches.

staco

gracec · #10 12th October 2005, 04:30 PM

Thanks a lot for the info, especially for the beginners like me.
Could you please elaborate on ''Trading Methods that actually has a statistical edge

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