Recent content by Big Money

Kivd, While some others have made so excellent points (Ghost especially) and have asked whether you really have a plan, I will address just the psychological side. I see a couple problems that you should think about. Your first problem is treating money just earned in a profitable trade...

Debaser82, I do not for many reasons I won’t go into but more importantly, I would consider it a warning sign that someone felt guilty that they were a success while others may not be (this is what I would tell a friend who said what you said) no matter the field. But in our profession...

Baron, I would start with the most important advice in the thread so far mentioned by AAAinthebeltway. The first and most important thing you have to ask yourself (and your wife as well) is when the crap hits the fan, will you use it or not want too/freeze. Because I have read a lot of...

Sumeet666, It sounds like you are on the right track with your post going into more detail about your thinking and why you thinking that way. A few words of advice before going full time though: First, as a very discretionary trader, do you have written parameters about what constitutes an...

Ghost, I would agree with your thoughts here as well but my only caution is that the newer the trader you are, the less able you will be to tell the difference between the feelings that can help you and all the other feelings caused by anxiety over lack of trading plans, lack of setups, lack...

Sumeet666, I have a few suggestions. While many of your actions may seem good on the surface, what you are really doing is undermining your setups by not following them as your trading plan states. By masking the underlying problem by stating you are focusing on your emotions, you are not...

S.Cromwell1989, While you have received some good advice (and I especially like Visaria’s advice) you probably don’t want to hear the truth: You are not even close to being ready IMHO. You are too young. You need more life experience to learn more of the nuances you can’t learn reading...

TrueRange, While it may seem like a good idea to help him again (and the nice thing especially as you feel you owe him), the fact is he knows he messed up and is looking for the easy way out, i.e. more advice and help. That right there says he is looking for a shortcut back to where he was...

Against my better judgment as I used to work in banking before trading let’s look at this “victim” story and show what is really going on. As usual, victims distort facts to make them feel like things are not their own fault (sorry, but true). So in the interest of general knowledge here...

tradingjournals, The lesson of the significance of a coin flip and how it applies to trading is a pretty important point IMHO. There is a great lesson in the process of a simple coin flip and how it applies to trading and if you think about it this way, I believe it will help your trading...

Riddler, May I humbly suggest you focus on the most important thing that matters to a trader. Did you get paid for your wonderful prediction? If you didn’t make money on this, who cares what you think or why (Which you ignored when someone else mentioned the only thing that matters to me)...

DGMan, You have fear/anxiety because you don’t know what you are doing and/or don’t actually have a system or setup to follow. So of course you are worried about it. But if you have a defined system that has a real edge, you know the math and realize any one trade is meaningless and...

Ghost, In general I would agree with this except for the fact that 95% + of the general population have never heard of Stanley Druckenmiller and if someone told them he was retiring would just call him a greedy bastard who stole billions while they have slaved away their whole life without...

First, you can exclude any asset you have from a bankruptcy if you desire (by reaffirming the debt), including your home (assuming you keep making the payments of course). If you do include the house in the BK, the bank will file for a motion for release and continue the foreclosure process. His...

LeeD, The only problem is you. I would say you have two issues at work here: common sense and stupidity are what cause you to do this. Let me explain. Common sense should tell you that if you are not at your best or ready to perform to your potential you should know you wouldn’t perform as...