Share Your Trading Experience With US!!

[Soultrader 12]

I would like to create a thread for traders to share their experience with us.

 

1. Why did you decide to become a trader?

 

2. What steps or hurdles did you overcome to become a trader?

 

3. Do you see yourself trading in the next 10 years?

 

Thanks! Looking forward to hearing from you all

[Trade Up 10]

An interesting thread. My answers are :-

 

1. Why did you decide to become a trader?

 

I took an interest in Stocks and Shares when I was about 14 years old. I was lucky enough to be given a day at a Stockbroking Office when I was 17. This resulted in me being offered employment, after leaving college. 6 Months later I started. Stocks and shares were a big buzz then , and still are now.

 

2. What steps or hurdles did you overcome to become a trader?

 

When I asked my careers office how I would get into Broking, the lady replied, "No chance, whats your second choice?" I was lucky enough to get a Stockbroking job when I left college, but the Company ceased trading within a year. I then started at the very bottom with a new Broking Company (again!!) and the rest is history.

 

3. Do you see yourself trading in the next 10 years?

 

Yes. When trading is in your blood, its hard to leave the buzz alone.

 

It would be interesting to see other experiences.

[Soultrader 12]

Here's my story:

 

1. I played poker hardcore during my student years, enough to make me a decent living. I ended up playing professionally for a few years until I started to become unsatisfied with my career.

 

I then met a trader who introduced me to the world of finance. Saw him make $3,000 in one trade and convinced me to switch careers. I never looked back ever since. (I still play poker alot. It's in my blood)

 

2. The steps I had to overcome to become a consistent trader was a nightmare. I lost my initial trading stake which I had saved up from poker in 6 months. Then found myself in a trading debt which I managed to pay back in one year working close to minimum wage. During the whole time, I was so frustrated but was determined to do whatever it took to become a successful trader. I hit the books, charts, tape, etc... Took alot of hard work to get here. But in the end it was all worth it.

 

3. I see myself trading or at least investing until I die. I'll probably be stuck in a trade in my death bed.

[Nvesta81 10]

I'm going to revive this thread because I would like to see more people post in it!

 

!1. Why did you decide to become a trader?

 

I'm not even sure where I got the idea. Naturally I heard about stocks and had a pretty good idea how the whole thing worked, and I figured, there has to be a way to make a living off this with enough dough... well, sure enough, there is! I think what lured me is the freedom. I really don't see myself working for other people for the rest of my life... not much money in that either unless you are a doctor or some other fancy title that I don't really care to pursue anyway.

 

2. What steps or hurdles did you overcome to become a trader?

 

The hardest part was being patient enough to build the bankroll, lot of years waiting for this day... I had to adopt the "Warren Buffet way" until I had enough . I still believe in his approach in the long run, day trading is mostly something I want to do on the side, but what will make me rich is definitely the well placed investments, in my opinion anyway...

 

3. Do you see yourself trading in the next 10 years?

 

Absolutely. Until death most likely. I think the only way I will ever stop trading is if I become a billionaire, at that point it wouldn't be worth it any longer... but I don't think I have to worry about that one anytime soon.

[james_gsx 16]

1. Why did you decide to become a trader?

- I wanted to know why they rung the damn bell every morning and what the the thing going across the bottom of the screen was. That was in 5th grade, since then I've been hooked. I ditched school to watch my stocks.

 

2. What steps or hurdles did you overcome to become a trader?

- Not as many as some here, but definitely some hard lessons. Biggest one being that I had no one to blame but myself. Biggest two mistakes - BW falling after a bad earnings call and getting emotional. I held onto it, read the message boards, talked to some people, and was emotional that it had dropped so much so fast. The second one being I took too many earnings plays based off what other people said. They were experienced traders, but their plan was different from mine and I didn't do the research I should have done. I lost a lot of money doing that, and most of all I was embarrassed by myself. I told my ex girlfriend that I would never lose money, it just wasn't me. Then I found out the market doesn't care who I am, and gave me a nice smack in the face.

 

 

3. Do you see yourself trading in the next 10 years?

- Absolutely. I want to run a $100mil + hedge fund sometime in my career.

[darthtrader 10]

cool thread

1. I actually worked in IT at an investment place during the dotcom boom and really had no interest in markets. Then left that job for a hot web design job right as the dotcoms blew up and the place closed 2 months after I started. Got interested in the markets then just to try to figure out what had happened to my job but it was a slow process. Eventually became a gold bug and was convinced we would be in a depression by 2005 . That worked out well though as all the stocks I liked starting off double or tripled in the next 2 years.

 

2. I don't really consider myself there yet and i'm sure the big mistakes will happen in the next 2 years learning futures.

 

3. 10 years yes but my goal is to just eventually have a nice roll of t-bills/value invest. Then travel or what not.

[MrPaul 10]

1. Why did you decide to become a trader?

 

I have a love for markets, a passion that cannot be fully articulated. Michelangelo once said, If people knew how hard I worked to get my mastery, it wouldn't seem so wonderful at all. Michelangelo sculpted, Picasso painted, I trade financial markets.

 

What steps or hurdles did you overcome to become a trader?

 

Almost too many to list, people underestimate what it takes to become a professional trader, and more importantly retain that status through a lifetime career! I have had to overcome all the typical psychological issues such as under trading, over trading, fear of entering, fear of loss, hubris, elation...the list could go on for miles. It is a sheer burning desire that helped to drive me through the obstacles and I continue to try and better myself professionaly every single day.

 

 

3. Do you see yourself trading in the next 10 years?

 

Absolutely! Even after I have made my money and feel that it is time to retire I will always be actively engaged with markets helping other traders and giving back to others some of what I was able to take...

[darthtrader 10]

" If people knew how hard I worked to get my mastery, it wouldn't seem so wonderful at all."

--Michelangelo

 

????

 

greatest of all time.

[james_gsx 16]

You should add one more question. What do you love most about trading?

 

For me, it would have to be doing the nightly research, going over the charts and seeing things unfold. Especially when you've been waiting patiently for your trades to setup, then they come along and you have the opportunity to go after it. The other thing I really love is the investing side, when I find a company that fits my style and I buy the stock then watch it grow - kinda like my own kid.

[Nick1984 10]

1: I started getting used to the idea of trading ever since watching Trading Places with Eddie Murphy. I loved the line when he's being taught how the whole commodity business works and Eddie replies "Yall a bunch of bookies aint cha?". Watching the end of the movie when they cripple the old guys and the price moving up then down so fast was one of the coolest things I'd ever seen and I wanted to be in on that.

 

2: Biggest hurdle for me has been balancing my time to actually learn trading. I'm a full time Uni student and have been for 5 years. This is my last semester now (which starts in a couple of days) of full time study before I graduate and my studies take a lot of time away from my trading. After I graduate I want to travel for a few months as well which will take away learning time. I'll trade every night I have time, but I don't ever want to forget that there are more important things in life and I can't be soley focused on one thing. I love to have balance in my life, so I always have about 3-4 unfinished projects going on at one time so I can divide my life between things such as: music (i play piano), trading, my girlfriend, studies, and films (i'm a movie buff).

 

3: I think I'll keep on trading even when I don't need the money anymore. I just love the idea of trading and investing. There's a line in the novel "The Count of Monte Cristo" by Dumas where the Count upon meeting one of his arch nemesees Baron Danglars who becomes a banker tells him that "The management of money is an art in itself", and that holds true to me too. I love markets and investment strategy not just trading in the purest sence. I'll keep trading till I can't click a mouse button.

[Guest cooter]

Watching the end of the movie when they cripple the old guys and the price moving up then down so fast was one of the coolest things I'd ever seen and I wanted to be in on that.

 

And for those of you who haven't seen this classic movie yet (it's been around for almost 25 years or so now)....