Giving up

Sucker · Dec 18, 2002

I am thinking about giving up trading. After almost two years in the business I just couldn't make a single decent trade. I start to wonder I am not cut out for this. Just can't control my emotions. I see the oportunities but just can't seize them.

I also think it's just a matter of time and if I would persevere I would fit into the flow and rhythm of the game in the long run. But the problem is: where am I going to get the money to? I just don't have it. My initial stakes were borrowed and they're all gone...

Poor me.

qdz · Dec 18, 2002

Act like a man, like me, whether trading or doing something else. It is not your fault. Just do not let Johns wash your brain when they are ripping off you in the game like they do to many people else.

AAAintheBeltway · Dec 18, 2002

If you have a passion for it, you will find a way. Maybe not now, maybe your time comes later. I would suggest you read the market wizards books. Plenty of them had horrifying blow ups.

I think getting good at trading is somewhat analgous to playing a sport. You do not progress at a linear pace. One day something just clicks and you make a quantum leap of improvement. Of course, that assumes you are trying diligently to improve. Do you have a proven strategy? Why can't you execute?

Sucker · Dec 18, 2002

Quote from AAAintheBeltway:

Do you have a proven strategy? Why can't you execute?

I lack the kind of intelligence that resides in the hands. Do you get it?

Lobster · Dec 18, 2002

Quote from qdz:

Act like a man, like me, whether trading or doing something else.

No, act like a pussy, like me!

easyrider · Dec 18, 2002

You need to take a break. Get away from it for awhile. I closed my account and paper traded for two months before starting back. It helped a lot. Still get mad a lot, tho.

Sucker · Dec 18, 2002

Quote from Sucker:

I lack the kind of intelligence that resides in the hands. Do you get it?

Moreover lack of money to endure a few hits before getting the tide.

Also sometimes I wonder if consistent profits is really an achievable goal. Are there any traders around who got it?

Lobster · Dec 18, 2002

Quote from Sucker:

Also sometimes I wonder if consistent profits is really an achievable goal. Are there any traders around who got it?

I have never heard of one who has only winning trades. If that's what you mean by consistent profits.

Sucker · Dec 18, 2002

Quote from Lobster:

I have never heard of one who has only winning trades. If that's what you mean by consistent profits.

I mean a rising equity curve in the long run. Money making money.

psychic_monkey · Dec 18, 2002

Quote from Sucker:

After almost two years in the business I just couldn't make a single decent trade. Just can't control my emotions. I see the oportunities but just can't seize them.

I can't profess to be faultless. One thing that I have "learned" to do while facing an extended losing streak is to halt my trading. Review all of your trades and learn from them. I keep written notes on every trade so that I can go back to them to analyze my logic, emotion and expectations. If you CAN see the opportunities and know that you would have profitted in the past by trading those opportunities as evidenced in you notes, you should find more confidence in making those trades. I agree with AAAintheBeltway, the Schwager's books should help.

PM