I'm out

[padutrader]

It took me around 8 years or so in total to be profitable (>20% annual return). I was trying to make a few hundred percent a year in the beginning, finding for the holy grail. I was naive.

After so many years, I realised that there's probably no such a thing. If there is, my intelligence has yet to have captured it.

I had an epiphany/enlightenment about the market and I am profitable since. With the revelation, I could create multiple strategies based on that fundamental understanding of the market and trading.

Conclusively, never give up, need lots of luck to discover the fundamental truth to trading the market, requires intelligence, deep and consistent concentration, and objectivity (both mentally and in research areas).

agree totally.......always trade small, drops add up....observe the markets for years without losing your shirt

 

[fordewind]

didn't punt myself into oblivion.

If you`ll replace trading with something X-times more signifiicant.Otherwise, you did.

 

[BaconSandwich]

.i want to be the best in what i do,in the world...

i did and i did: went through hell (so did my wife) and i achieved it

That's great to hear, but you did kinda say that you'd become the best in the world. Glad you're happy killing your boredom by making so much money, must be a tough life over there in India?

 

[schweiz]

Just before success, you want to give up.

Some give up to early and (many) give up too late.

 

[BaconSandwich]

I love the thought and implementation of giving up - it's a great building block for coming back stronger, which will happen, as noted in a prior post....a real realization that this is not a piss easy game.

I've forgone a 8% profit this month by missing two trades by less than 5pips in FX - I place two trades a week, so this is rare (which equates to less than 2% of the targeted TP) - what's the lesson here? Accept it and move on - as the number of trades moves to infinity you will experience all sorts of 'close' losses and gains (whilst also fractionally missing them). You can't fine tune the finest details when taking a large sample size into account. The sweet spot will be within a given range....within this range you'll still experience a kick in the balls once or twice. I don't like it, I just accept it and apply plenty of ice cream - unless that's not your thing of course, I was told ice will do too apparently whilst being escorted out of the supermarket ...

 

[ironchef]

get a real, rewarding career and throw all the money you can into the up trend... that's how you get to the promise land.

I hate to say but I agree with you.

But this is a trading forum. There are ways amateur retail traders can make money and that is why some of us are here.

 

[nooby_mcnoob]

I hate to say but I agree with you.

But this is a trading forum. There are ways amateur retail traders can make money and that is why some of us are here.

We are in a permanent uptrend. Bear markets last for 3 days. BTFD.

-- Donald J Pump.

 

[tommcginnis]

We'll gents, I'm done. I have put my time in and I can't consistently make it work. Yes I can make money and yes I can lose it but I can't make it "work" as they say. It's ok, I'm one of the fortunate ones who was careful and didn't punt myself into oblivion. Anyway, I'm a survivor but I didn't get what I wanted out of this trading thing, I wonder how many do.

Someone who expresses this much discretion and forethought and lack-of-hubris, has (IMHO) a fine future ahead of them in trading/investing.

We have so many arm-chair generals throughout our civilian military command, but it seems the ones who are least eager to go to war -- to put fighting forces in Harm's way -- are those who have been to battle -- and been under fire -- themselves. In trading? Everyone is a genius in a bull market. Same thing. Hard-won wisdom.

And we have a phrase to cover all of that. "Risk control." (Or "position management, money management, etc etc). It all goes to show that market reversals are covered.

PennySnatch -- if you have that piece of wisdom called Risk Control, you have paid the tuition already. Take some time. Dump some methods. Plant new ones. Learn to code. Go from equities to indexes or sectoral ETFs. Go long options from short. Become a trend trader -- where brackets are *so* easy. [!!!] Whatever. What are the best tools for 1-hour, once-a-day trading??

If you "didn't get what [you] wanted out of this trading thing," then Screw it! Take some time off, let the dust settle, and sift through for jewels that are [no doubt] there. No rush.

 

[dozu888]

We are in a permanent uptrend. Bear markets last for 3 days. BTFD.

-- Donald J Pump.

permanent maybe not.... but yields have to equalize between stocks and bonds, and that means either bonds need to cut in half, or stocks need to double.... or somewhere in between.

 

[padutrader]

That's great to hear, but you did kinda say that you'd become the best in the world. Glad you're happy killing your boredom by making so much money, must be a tough life over there in India?

from what i hear it is a tough life everywhere.....except for few