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  1. #11
    Solid Member Daniel Rea's Avatar
    You will have to be prepared for massive emotional changes. Changing from demo to real money is hard enough. Keeping your cool after a string of bad trades and you need one to pay bills is a whole new ball game.

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  3. #12
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Daniel Rea View Post
    You will have to be prepared for massive emotional changes. Changing from demo to real money is hard enough. Keeping your cool after a string of bad trades and you need one to pay bills is a whole new ball game.
    exactly, anytime you "have to make a good trade" in order to pay a bill or whatnot you are doomed.
    "Great Googely Moogely" ... Frank Zappa

  4. #13
    Junior Member svockic1's Avatar
    Honestly, finding the right broker for winning this amount of capital is another issue. You will find convenient "errors" and decreased payouts as you continue to be profitable with real money. Additionally, with virtually every broker, the payout is far higher in Demo mode. Nonetheless, I still think it is possible. Try finding 2-3 several brokers when you become profitable and disperse your trades amongst them.

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  6. #14
    Active Member
    I started trading about two years ago, learned almost everything from the pros at BOTS so listen to them. I have been trading as my sole income for the last year and have been able to make it work. In November I put a satellite system on my sailboat and can trade basically anywhere in the world. that is the beauty of trading all you need is a internet signal and you can trade. That is my fun report~
    Reality is like Michel says, to be good you have to work at it ! In my short trading time I have tried many strategies as I learn different market conditions. No one set of strategies works in every market conditions.
    I am different from a lot of the Pros in that the longest trades I make is 4 hours. Most of what I do are 5 to 15 min short term trades that require me to sit and stare at the screen for hours. I usually trade 7:30 am EST to noon/ 1:00 EST. 5 days a week . Unless I get 3 trades ITM in a row then I stop. The pros trade longer term and can walk away from there screen and check from time to time. But in order to trade like that you have to truly understand the markets cause and effects which Michael is very good at. ( I have followed his trades for over a year, so I can say this)
    The point I am trying to say is Yes if I can do it anybody can! But I cannot afford to wait a week to see if I won or lost , plus I am still trying to understand cause and effect of the market. I am 95% technical trading hence the short term trades, I get several positive technical "go" signals every day, so if loose some I can quit for the day or try and make it up in the next hour.
    Do not go by "gut feelings" , "it is time" ect, ect you will loose so practice demo, paper trade, then do small trades (It is hard to keep the same attitude to trading in a real money account as it is in a demo) Then using sound money management strategy start trading for real, this will take a lot of time but eventually you will be able to make a good living.

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  8. #15
    Veteran Member randy1953's Avatar
    Quote Originally Posted by shawn3179 View Post
    I started trading about two years ago, learned almost everything from the pros at BOTS so listen to them. I have been trading as my sole income for the last year and have been able to make it work. In November I put a satellite system on my sailboat and can trade basically anywhere in the world. that is the beauty of trading all you need is a internet signal and you can trade. That is my fun report~
    Reality is like Michel says, to be good you have to work at it ! In my short trading time I have tried many strategies as I learn different market conditions. No one set of strategies works in every market conditions.
    I am different from a lot of the Pros in that the longest trades I make is 4 hours. Most of what I do are 5 to 15 min short term trades that require me to sit and stare at the screen for hours. I usually trade 7:30 am EST to noon/ 1:00 EST. 5 days a week . Unless I get 3 trades ITM in a row then I stop. The pros trade longer term and can walk away from there screen and check from time to time. But in order to trade like that you have to truly understand the markets cause and effects which Michael is very good at. ( I have followed his trades for over a year, so I can say this)
    The point I am trying to say is Yes if I can do it anybody can! But I cannot afford to wait a week to see if I won or lost , plus I am still trying to understand cause and effect of the market. I am 95% technical trading hence the short term trades, I get several positive technical "go" signals every day, so if loose some I can quit for the day or try and make it up in the next hour.
    Do not go by "gut feelings" , "it is time" ect, ect you will loose so practice demo, paper trade, then do small trades (It is hard to keep the same attitude to trading in a real money account as it is in a demo) Then using sound money management strategy start trading for real, this will take a lot of time but eventually you will be able to make a good living.
    Nice post happy you are making it.
    Here's my sweet and short way to make a living completely off trading which I have been doing for the last 2 months.

    Find a strategy that you are extremely confident in mine happens to be the BB 60 sec. There are a few set ups when they come to me which is not often but on one pair I might get what I am looking for 1 times a day. With these st ups I have over a 90% ITM.
    Now only these are what I call my slam dunks. I have had 85 of these trades in the last couple of months. These are my big money trades. I don't post them and never will too many brokers are in forums. It's one of my main reasons I don't post a lot of my results.

    These are the trades I will put 2 to 3 hundred on the trade. So far I normally get 2 sometimes 3 trades like this a day running 8 pairs.
    So this is a steady $600-$800 income per day for me.
    When I have at least 2 I might go for the third trade but that would be it for the big money trades..
    I've been doing this 5 to 6 days per week for just over 2 months now.
    I absolutely love it almost no stress
    I keep records out of the 85 trades the ones with a perfect st up I have lost only 7!
    For me this is how you make a living out of trading.
    The rest of my trades are only thee to keep my skill level up they are the fun trades but the slam dunks are the real money makers.

    The other thing I do is keep a floating reserve so in case I do lose a slam dunk I don't feel it.
    I have never seen a strategy as accurate as this one. Now my set up is also a little different for the slam dunk trades and that I also keep to myself.
    Last edited by randy1953; 02-23-2016 at 09:57 PM.
    “Never tell the truth to people who are not worthy of it.”
    Mark Twain

  9. #16
    Master Member Okane's Avatar
    Quote Originally Posted by shawn3179 View Post
    I started trading about two years ago, learned almost everything from the pros at BOTS so listen to them. I have been trading as my sole income for the last year and have been able to make it work. In November I put a satellite system on my sailboat and can trade basically anywhere in the world. that is the beauty of trading all you need is a internet signal and you can trade. That is my fun report~
    Nice, where do you live when you are not sailing?
    OptionHeimer: I am become debt, destroyer of accounts!

  10. #17
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by randy1953 View Post
    I keep records out of the 85 trades the ones with a perfect st up I have lost only 7!
    For me this is how you make a living out of trading.
    The rest of my trades are only thee to keep my skill level up they are the fun trades but the slam dunks are the real money makers.

    .
    you keep records, but you won't show them to us . . . not that an spreadsheet of wins/losses means those trades are really real,
    "Great Googely Moogely" ... Frank Zappa

  11. #18
    Active Member
    Okane,
    I live in the US, in Ohio. I am in George town exuma, in the Bahamas right now headed back to the US. It is 82, sunny with about 10 knots of breeze and it is 40 rainy overcast and muddy in Ohio. But I need to get back for spring, my wife is a large animal vet (horses) and it will soon be breading season.
    I still have so much to learn and wanted thank you for your help also, I saw your UTube video a few days ago it is always helpful to watch somebody who really knows what they are doing explain things. As many time as the BOTS pros have explained things everytime I watch, it seems that I pick something up.

  12. #19
    Master Member Okane's Avatar
    Quote Originally Posted by shawn3179 View Post
    Okane,
    I live in the US, in Ohio. I am in George town exuma, in the Bahamas right now headed back to the US. It is 82, sunny with about 10 knots of breeze and it is 40 rainy overcast and muddy in Ohio. But I need to get back for spring, my wife is a large animal vet (horses) and it will soon be breading season.
    I still have so much to learn and wanted thank you for your help also, I saw your UTube video a few days ago it is always helpful to watch somebody who really knows what they are doing explain things. As many time as the BOTS pros have explained things everytime I watch, it seems that I pick something up.
    Wow that's awesome .
    Glad we can help! I wish to move somewhere nice and warm too and
    only trade. Probably next year . Good to know other people that are doing it!
    OptionHeimer: I am become debt, destroyer of accounts!

  13. #20
    Active Member
    Okane,
    The Bahamas, Jamaica, Grand Cayman and Dominican Republic are all within a hour or two flight to the US, Or a 1 to 4 day sail. You can find internet around the larger islands or cities, bring a mobile hotspot and you should be fine. Also if you are staying for awhile get away from the tourist areas and living can be reasonable.
    If you are ever decide to come to this side of the world let me know I will be happy to share with you what I know. Also I would enjoy meeting you in person (and the rest of the BOTS Pros) what I learned from you guys did allow me to make a major change. Also I would like to cook you some fresh lobster or some fresh caught snapper, grouper or dolphin (the fish not the mammal). After trading If the weather is right I spend several hours in the water snorkeling, diving and looking for lobster, conch or any game fish that lets me get close enough to spear it. Easier said than done but we usually have fresh seafood every day.
    I do not know if it would pass Chef Michael taste test but it is fresh~

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