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Memphis TN
Legendary E-mini dictator for life
Experience: Advanced
Platform: Thinkorswim
Broker: TDAmeritrade
Trading: Futures
Posts: 1,171 since Jan 2014
Thanks Given: 160
Thanks Received: 3,941
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I second the analogy with athletes, and I frequently make comparisons to trading and playing sports. The one big difference, an advantage we traders have, is we aren't limited to a window in our teens and 20s to get good at it and be the best. Most athletes, with the exception of golf players, peak around this time and start to decline in the early 30s. But trading is something you can pick up at any point in life, and I truly believe that if you apply yourself and commit to it then you can be a successful trader, whatever your age.
Like any sport, trading is a high-level performance skill which must be learned, developed, and practiced over many years. You cannot buy it. You can have someone teach you, be a mentor, a source of advice & inspiration, but you have to make it your own. And it takes years. Some people might be trading prodigies and it only takes them a year or so to get good at it. Me, I am three years into trading PATS and I'm just lately starting to find profitability.
You have to stick with it. Takes a long time and you are going against people who've been doing it a long time. I follow baseball, and there's a guy who recently retired after a long, successful, lucrative career in the majors. He was a pitcher. It took him six years to get to the big leagues. That was six years he spent in the minors, grinding, failing, questioning what he was doing with his life. But he didn't quit and he made it. Even then, it took him another seven years or so before he got good. Then he got really good and made a lot of money and had great success.
That's an unusual path but there is a valuable lesson in persistence. So traders, don't quit. And of course don't do dumb things like trade your account into oblivion, or neglect to place stops and let the market go way against you. That kind of behavior, the market will find it the way a lion finds a lone gazelle and it will eliminate you. It's ok to make mistakes, don't make dumb mistakes or make them over and over.
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