Want to hear from veteran traders

[Bingy]

Hey,

I'm curious, how many of you on this forum are actually making a living trading? If so, how long have you been trading successfully?

 

[MerryDay]

Hey,

I'm curious, how many of you on this forum are actually making a living trading? If so, how long have you been trading successfully?

With the 2020 change to no commission stock trading; the forum demographics exploded and is currently heavily-skewed toward newer traders, many of whom are starting out on their trading journey. Therefore, you will not find a significant percentage of full-time traders.

My personal belief is newer traders will encounter significant headwinds attempting to launch a full-time trading career in the current market.

The March 2009 to February 2020 Bull Market (132 months) with +400.5% Total S&P500 return was the perfect time to enter into full-time trading. Allowing valuable lessons to be learned, while not wiping out portfolios.
It is so much easier to learn the ropes, make money, and significantly build our experience and trading balances. when everything is going up.

The current market's extreme conditions mirror the world's instability.
Considering the uncertain global landscape, it's unlikely that stability will return anytime soon, leading to continued turbulence in the trading sphere. Volatility can be awesomely profitable, as seen this year. But such extreme turbulence can, also, have a devastating effect on inexperienced traders attempting to generate a liveable income.

The good news is, that in the current markets provides exposure to many scenarios. These are learning experiences. Keep that trading log. Write down what worked and what didn't during various market conditions. Integrate those lessons into your trading plan. Once you can differentiate trading days from non-trading days and achieve success on those trading days, you've taken the initial step toward establishing a career in full-time trading.

VIP members read more:
https://usethinkscript.com/threads/good-day-vs-bad-day-in-thinkorswim.17236/

 

[Bingy]

I've created my strategies over the past few months. I'm in the forward testing phase and once completed, I'm hoping I'll be able to report back that what I'm doing is working, even in the current market and with whatever we face moving forward, as they work in the past (4) years of back-testing, even currently. If there are any veterans around, I'd still love to hear from them. Including you MerryDay.

 

[MerryDay]

If there are any veterans around, I'd still love to hear from them. Including you MerryDay.

Sure, here ya go,
Here I am:
https://usethinkscript.com/threads/merryday-moderator.17465/

and here are the top veteran forum traders: https://usethinkscript.com/trophies/i-love-it.9/
These are some of the foremost ThinkScript Experts on the forum.
You can't go wrong, reading through their posts.

 

[MatthewA]

Great List MerryDay !


I wish I was on there : )
I of course am working as a student in medicine and so I haven't had time to contribute as much as I would have liked...

 

[MatthewA]

I've created my strategies over the past few months. I'm in the forward testing phase and once completed, I'm hoping I'll be able to report back that what I'm doing is working, even in the current market and with whatever we face moving forward, as they work in the past (4) years of back-testing, even currently. If there are any veterans around, I'd still love to hear from them. Including you MerryDay.

My advice is to leave the strategies you are testing very flexible or open...
Remember that it's best to STAY AWAY from repainting indicators and to relate your strategies together in such a way that you will not always be adjusting lengths and settings arbitrarily...

Also stay away from gurus and Wall Street Bets as I am certain you already know.

 

[MerryDay]

Great List MerryDay !


I wish I was on there : )
I of course am working as a student in medicine and so I haven't had time to contribute as much as I would have liked...

I expect that you will be our next Dr. Harlin!
Out of all the amazing technical chartists, he is my all-time favorite.
https://nextsignals.tumblr.com/stephen_harlin

 

[MatthewA]

I expect that you will be our next Dr. Harlin!
Out of all the amazing technical chartists, he is my all-time favorite.

You are too kind...
Give me at least 20 years for that goal...

In my absence here I did spend some time with youtubers like Coffeezilla where investigating fraud was crowdsourced, but I really can't use that wild environment as a professional reference.
I really need to get back to networking in a more organized environment.

 

[MatthewA]

@MerryDay also now that I am just now on this website I remember I miss @Welkin .
I have not spoken to him since his brother died, and we used to collaborate and do some assignments together but I don't even know if he trades anymore or if he just retired.
I know several of the original members really valued time more than $ especially when faced with health concerns

 

[MatthewA]

I've created my strategies over the past few months. I'm in the forward testing phase and once completed, I'm hoping I'll be able to report back that what I'm doing is working, even in the current market and with whatever we face moving forward, as they work in the past (4) years of back-testing, even currently. If there are any veterans around, I'd still love to hear from them. Including you MerryDay.

You may like some of @Welkin studies to see how volumes behave overall. As Welkin would remind us Volume IS the market, it is often easier for prices to move when there is less volume but overall the volumes show what the market is valuing itself at.

 

[MerryDay]

@MerryDay also now that I am just now on this website I remember I miss @Welkin .
I have not spoken to him since his brother died, and we used to collaborate and do some assignments together, but I don't even know if he trades anymore or if he just retired.
I know several of the original members really valued time more than $ especially when faced with health concerns

@Welkin was a valued contributor to the forum.
Most of his contributions, appear in some manner on my charts.
No, he has not been back. He is missed.

@Bingy
@MatthewA is correct. Volume is the ultimate mover of price.
@Welkin has a special place on my Favorite Volume Indicator list:
https://usethinkscript.com/threads/favorite-volume-indicators-in-thinkorswim.15694/

 

[Keepuphe]

Trading isn't a guaranteed path to riches, and there's always a risk involved. So, start small, learn as much as you can, and stay vigilant. It's a journey worth taking if you're up for the challenge!

 

[LilyGrant]

Making a living from trading isn't a walk in the park. It takes time, patience, and a lot of learning. I started small, made my fair share of mistakes, but gradually honed my skills and built a profitable strategy.