How to know when youre not cut out for this?
- Thread starter janko
- Start date
Good Heavens! Don't listen to him! follow your heart.
Also realize that others ( like the respondent above) want you to fail. Don't let that affect you. I'll bet every subsequent poster to thread will advise you "to give it up"
There are many highly successful traders that have struggled for long periods before they finally "got it". Your sucess depends more on your mental ability to separate greed and fear from reality, not your abilty to pick tops and bottoms. You are the only one that can truly say whether or not you will be happy if you walk away from your only love. My experience.... if, in the beginning, you are focusing too much on the money aspect and not enough on the game itself, you will most certainly struggle. When you place a trade, you should NOT be thinking about your overdue phone bill or your upcomming mortgage payment. If you are...then this is probably not the right time for you.
Have something else on the side or at least the back burner. This will alleviate the pressure and allow you to make rational decisions rather than decisions based on hope.
Trading is like dating...If you try to force it or chase it , ..it aint gonna work. So you need to relax...first and foremost....and also realize that the first year is about learning to break even on a consistent basis. Consistency is the name of the game!!
Also, your lack of confidence is probably a good sign.
http://www.zenspider.com/RWD/Thoughts/Inept.html
Good Luck!
You are not cut out for this if you are miserable most of the time.
The fact that you are up for the year and still unhappy says that either you have unrealistic expectations, or trading simply causes you more unhappiness than happiness.
The fact that you are up for the year and still unhappy says that either you have unrealistic expectations, or trading simply causes you more unhappiness than happiness.
You think its stressful losing your OWN money! Try losing someone elses money...now thats stress.
After reading some of these posts and a lot of previous posts i read back in the days,i think i know what the problem is, i was trying to deny it but basically its scared money! I trade much more comfortably and take the setups when i have mkts money, but the moment i get into a situation when it starts bitting into my principal thats when someone else takes over and say capital preservation, which is good, but then again i wont get it above my intial capital just by sitting there. I dont know how to get around this. do i just say screw it and trade and if i blow it up so -be it?!?! I dont want to do that obviously but how do you get around this? or is that the kicker that should turn on the lightbulb and say bye bye? See i am home during the days watching this from the 9am hour till 2:30 and then at work im in front of this stuff till midnight, i'm a broker, so its hard to get away and in all honesty i love this stuff. So i doubt i'll quit, maybe i just need to tough it out and deal with it. i guess being even in this mkt is not such a bad thing afterall. But it could be better. Oh well, i guess i need to find myself in the market, hopefully im getting closer and closer.