Is my career over?
- Thread starter TruthSeeker247
- Start date
I pretty much give up here, I've told all that I can. If you don't listen, it's because the gambling mentality you have, will not be overcome from you. You may make it big on wall st. only to lose it all.
Regardless, good luck.
I personally don't believe in luck, but maybe you do.
I'm out, message me if you are in fact successful, I had to reprint this thread, putting it in one of my folders. I have a folder labled "When you move up in SIZE" This whole thread is going on top
Regardless, good luck.
I personally don't believe in luck, but maybe you do.
I'm out, message me if you are in fact successful, I had to reprint this thread, putting it in one of my folders. I have a folder labled "When you move up in SIZE" This whole thread is going on top
Quote from JMowery1987:
I pretty much give up here, I've told all that I can. If you don't listen, it's because the gambling mentality you have, will not be overcome from you. You may make it big on wall st. only to lose it all.
Regardless, good luck.
I personally don't believe in luck, but maybe you do.
I'm out, message me if you are in fact successful, I had to reprint this thread, putting it in one of my folders. I have a folder labled "When you move up in SIZE" This whole thread is going on top
I get your point. I need to focus on capital preservation at this point. Thanks for your comments. I appreciate it very much. I'll definitely hit you up when I'm back up to $35,000. I think you will be very surprised to hear from me.
Well if it's anytime within 3 - 4 months, don't necessarily take that as a good thing. Hopefully you understand what I meant by that.
Ciao, I'm off to go do watch some tv.
TS,
Trading economic #'s is the wrong focus IMO. I trade candlesticks patterns, with S and R and watch the econ number to see how price reacts to my set ups. But I don['t trade around reports, too much volatility, unpredicatable. By no means do I know it, so take it for what it is worth.
Search around and you will see most people whom try to trade the news lose. It sounds to me that is what you are doing.
S and R is good to trade off of along with another confirming indicator whether it be candles, bars, oscillators. I have found 3 indicators/setups works well, more is too much, less is too few.
Another thought, read some books by pro traders, Buzzy Schwartz, etc. I think you will find most of them could not match your "expected" results so early on, so why do you?
Trading economic #'s is the wrong focus IMO. I trade candlesticks patterns, with S and R and watch the econ number to see how price reacts to my set ups. But I don['t trade around reports, too much volatility, unpredicatable. By no means do I know it, so take it for what it is worth.
Search around and you will see most people whom try to trade the news lose. It sounds to me that is what you are doing.
S and R is good to trade off of along with another confirming indicator whether it be candles, bars, oscillators. I have found 3 indicators/setups works well, more is too much, less is too few.
Another thought, read some books by pro traders, Buzzy Schwartz, etc. I think you will find most of them could not match your "expected" results so early on, so why do you?
Just a note. A few people are dogpiling on you for their own reasons. It is completely irrelevant.
Try not to feel the need to prove to yourself or anyone else that you can make it back. I know it's nearly impossible to disassociate your self-esteem from your P&L, but if your self worth gets tied up with your performance you will have unbearable negative energy weighing you down when you take those inevitable losses.
There is no "back" any longer, and that's a good thing. You are starting completely new, with a fresh chance to think about what you're going to change and to apply a new methodology.
Those three bits of advice from Trend_guy were perfect. Most traders would agree with what's been said because it rings true to all of us, since we've been there. The emotions are no different whatsoever. What you're struggling with is no different from every single trader who's bought or sold a contract.
Run through this quick example: http://www.brettsteenbarger.com/Destructive Patterns in Trading.doc
(click ok three times till you get in)
The whole shebang is here:
http://www.brettsteenbarger.com/articles.htm
I was having a chat with a few people at the trading firm i'm with and we were trying to figure out what makes a good trader because there isn't any real similarities between the traders in my office, they come from all different types of backgrounds have different personalities, some very aggressive some very reserved and cautious. But the thing they do have in common however is resilience. Trading is not easy and everyone loses when they start. Its the people that keep picking themselves up after every bad day or month and have another go at it. Provided you learn from your mistakes each time its just a question of sticking at it. Provided your employer lets you stay and your bank balance allows you to stay in the game its just a question of keep going. Your career isn't over until you decide its over
Tom
Tom