For a couple years I used to stare at hundreds of charts each night, read IBD, WSJ, Jag Notes, etc. And all that takes a heck of a lot of time. Now, if nothing else, I KNOW the QQQ and SPY will move one way or the other. Not much homework other than some of what you suggested (Employment, Consumer Sentiment, CPI, PPI, etc.) to get the overall sentiment heading into the day.
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I Hate Trading
- Thread starter TKOtrader
- Start date
For a couple years I used to stare at hundreds of charts each night, read IBD, WSJ, Jag Notes, etc. And all that takes a heck of a lot of time. Now, if nothing else, I KNOW the QQQ and SPY will move one way or the other. Not much homework other than some of what you suggested (Employment, Consumer Sentiment, CPI, PPI, etc.) to get the overall sentiment heading into the day.
Quote from vegasoul:
I hate trading and at least I did the introspection to say I do.
I would go so far to say that if you enjoy the process of trading, you are NOT trading correctly.
Trading is all about enduring pain and perserverance...
Think about this..why do you need discipline at all?
Everyone is different, but to hate your profession, in my opinion, is unfortunate. I love trading for the freedom it gives me.
Your statement that if one enjoys the process of trading he/she is not trading correctly is ludicrous. Are you suggesting that if someone works their butt off to become a trader who is successful most of the time (and thus likely enters winning trades most of the time) and they then enjoy it ... that they are trading incorrectly? The goal of trading for me is success ... and the better I trade the better I feel and the better my bottom line is.
Trading is NOT about enduring pain as you suggest. Certainly novice traders will have some challenges and pain; I certainly did. But I learned from my mistakes (i.e. pain) and became a better trader. As that process occurred I found the anxiety and occasional pain diminished and feelings of confidence predominated.
And last, you ask why one needs discipline? Look at all the traders who blew themselves out of the market. Why? I'd bet it related to a lack of discipline and/or poor money management in many cases.
I derive satisfaction from trading because of the very things you mentioned. Discipline is painful and it sucks having to have it, but I get great satisfaction knowing I have overcome one of my failings as a person; namely my own emotion. Emotion is a good thing generally, but not in this venue.
The bigger point is that if you hate trading, it ain't worth doing it. Nothing is worth doing day in and day out if you hate it. I do not believe you have to like your job, but hating it is disasterous.
Also, the very fact that you are introspective and understand yourself is in itself progress. I think that you would be a pussy if all you did was bitch and moan about it without trying to do something about it, like the starter of this thread. In your case, you seem not to like it, but strive to be better at it.
Good luck. Introspection and understanding what you did right or wrong without rationalization is a major step toward success.
The bigger point is that if you hate trading, it ain't worth doing it. Nothing is worth doing day in and day out if you hate it. I do not believe you have to like your job, but hating it is disasterous.
Also, the very fact that you are introspective and understand yourself is in itself progress. I think that you would be a pussy if all you did was bitch and moan about it without trying to do something about it, like the starter of this thread. In your case, you seem not to like it, but strive to be better at it.
Good luck. Introspection and understanding what you did right or wrong without rationalization is a major step toward success.