Beginner's question

[hhhtvoyk91]

Beginner's question
I have a fundamental question as a beginner getting ready to jump in. Do you believe that individuals can profit long term? If so, what is the basis of that belief, please? I have not traded much, but have spent a number of hours reading through posts mainly on this forum, as I have found it to be the best one so far. I am willing to invest the time to become good trader; IF it can be done successfully. There is much written about trading, and there are many individuals that will take your money to show you how best to do it, but very very little on actual long term success or even method back testing at a detail that is believable or demonstrable..... I have read about the 5%/95% successful / unsuccessful... I understand money management, mental fortitude, and discipline with a trading method are extremely important. I have done a few hours on sim with just basic price action...no other indicators (btw, Big Mike's video on that was excellent...simple, easy to follow). But, long term, day after day...can it be successful (profitable); or at the end of the day it is really gambling with lots and lots of math and programming trying to decipher a random indeterminate problem?

So...would appreciate your thoughts. BTW, just purchased Al Brook's 423 page book on price action (yes, I read the reviews and know it does not read well, but content is rated as excellent).

Thanks in advance for your time,
Raceman

[ibinbusa25]

Hello, great start with Al Brooks's book. Maybe you should have started with his new book since the first one isn't really meant for beginners.

I wish you great success.

The problem is: It's not because you learn hard, put a lot of effort, time and money in it, that you will become a successful trader. You can, but it's not a guarantee. This is not some kind of a degree you study for, do exams and pass.....unfortunately.

It's a battlefield out there, with a lot of blood and many guys with heavier weapons than you.

[hqqruvuh92]

Raceman, I am also very new to this game but, the one thing I have learned is that this kind of question will probably solicit 100 different answers from 100 different people. You can sift through the answers to find the one you are looking for

But, really, the only way to answer this question is to try and answer it yourself. Spend some time on sim, open a small account with money you can afford to lose and go for it.

Everyone is different, I wouldn't make a decision whether to pursue trading based on general consensus, you have to base the decision on if you believe that you can succeed.

Best of luck

[Incecibianuff]

Practice is the key, and you need a lot of it..........Have you heard about the 10.000 hours theory?
Ok maybe you need less time, but what i'm suggesting you is to to find a trading method that is confortable for you, than practice it on SIM for a lot of time, when you will be able to be consistenly profitable for at least 3 month, u can try to go live.
For the long term question, if u can be profitable for 1 year, why not long term? Ja, there are some factors that could be change and make u not profitable, but when u gain a lot of experience u can adapt yourself and resolve the new issues that come in front of you. I think is just like every other job u start from zero.