Let's all chip in for Gordon
- Thread starter aphexcoil
- Start date
GG: "like i've been saying, i was trading in a way too small for my account..."
-Took too large risk on single position. You lack discipline.
GG: "If that trade had worked out I could have ..."
I COULD HAVE. My god. HELLLOOOO???
This is not what trading is about. What you're saying is what gamblers say. "Yes, I know it was dumb to go to the roulette wheel and put all my money on "Rouge", but I COULD HAVE..."
YOU LACK DISCIPLINE. Think about it.
-Trading is not what it's in "Wall Street." Sensationalism is nonsense. None of that is reality. Being a trader is no more glamorous than being a lawyer. If not less. It requires a lot of patience, education, particularly discipline and very hard work.
Yes, I can make a few points a day if I really work really hard and stare at the SP's (or E-Mini's) in all timeframes all day, plus scalping them. But it's not glamorous, it requires dedication and so much discipline. You cannot afford "Hail Mary" bullshit. You aren't a gambler, man. You're a trader!
GG: "It was my final trade..."
-Preassuming failure is not a great set-up for a trade. You're obviously insecure, not convinced about your analysis. You shouldn't trade then. You lack discipline.
Read a proper set of books about technical analysis and money management / discipline. The latter are the most important in trading. Try to get a mentor or a good course if you can. Hey, it's cheaper than a bad trade! Start with simple books like Alex Elder's "Come into my Trading Room" -Awesome for beginners because he so stresses the discipline. With the book alone and the study guide, you can learn to trade successfully. He will give you the discipline of using logs etc, it's a must read and should transform you. Stay away from the Gann Wave / Fibonacci Analysis etc books for now... Learn what's essential and KISS.
GG: "... so I was a little more liberal with it..."
-You lack discipline. Do I need to speak any louder?
GG: "...yes, i would agree this may not have been the smartest thing to do..."
-Would. May. Not would agree but do agree. Must agree. Agree. You MUST BE HONEST WITH YOURSELF! If you cheat on yourself while trading, you will lose. You cannot cheat. Control and objectively look at your mistakes.
GG: "... may not have been the smartest thing to do..."
-This is no base for trading. Unless you know you can define an edge and that you're absolutely elite and confident in your decisions and abilities, you cannot trade. 1/2 smart people cannot trade. Sorry, but that's the reason why 97% of traders ultimately fail. You must have an edge.
Think about this, Gordon. Collect money the way I told you, but stay away from the markets and ET for a couple of years and instead focus on study. Due diligence.
If you want to die, that's your choice. But if you ever even consider being successful, you must follow the stony path.
There's no quick fix, and no money donations from other members will help you, sorry. It's bad enough I'm wasting my time on these boards, although maybe being a little less destructive then dbphoenix. Stop wasting your own time, you need much more time to learn until you can afford to deviate from trading focus! With a papertrading regime, that is.
Yours Sincerely,
~Scientist
Let me get this straight. You'll risk money trading but you won't accept a riskless trade of charity? Come on dude I am serious! $25.00 for you right here. Check is ready. I started this thread for you.
At least accept a few hundred to get back on your feet and feel a little better.
Take the freakin' money!
Quote from bobcathy1:
Yes Aphie, I do not know what is wrong with the boy.
I rely on the kindness of strangers.........
By accepting what he thinks is charity or "pity money" it puts in him a position of admission that he failed on his own and needs help from others.
GG has a pride issue, just another one of the killer emotions that destroy traders in the long run.
He has repeatedly refused to listen to the good advice of seasoned traders, refused to post his trades so that those good traders can help him.
My guess is that he has major issues with his parents, if not specifically his father, and is on a mission to prove something to them and/or himself.
This really isn't about trading for GG, he just doesn't understand that yet.
Someone who has a singular goal to trade, wants nothing more than to become a sponge to those who have mastered the art of trading. They want to absorb from the winners, not conquer the game on their own to prove something that has nothing to do with the process of trading.
Trader, psychologist, monk, and overall do-gooder. Optional is the man!!!
I do remember a lot of traders that offered him help and ask him to post his trades so they can analyze them and provide helpful insight...
I remember posting a message for him to meet with other traders in his area in person...sit side by side with them to see what it is that they are doing correct in comparison to himself.
Free help in realtime...one on one.
I thought for sure he would have done that.
Is it really true he never accepted such nor took the recommendation seriously?
Maybe he did and it just didn't work out.
Hopefully this isn't a case of..."my way or the highway".
If someone really wants to help GG...stop offering him money.
What's the point of giving him money if he still doesn't know how to trade?
Maybe I'm missing something here.
Instead...try to figure out a way to get that guy to get some free mentoring from all you guys willing to throw cash his way.
Surely there must be someone here at EliteTrader that lives in GG area (within a decent driving distance) that's doing well as a trader and can hook up with this guy to him get going in the right direction?
Any successful trader in the New England area that can send GG a private message to get this guy going in the right direction...
direction of profits or at least let him know what he's doing wrong and provide some solutions?
Have him buy you a few dinners as a barter.
http://www.elitetrader.com/vb/showthread.php?s=&postid=218667&highlight=NihabaAshi+Gordon#post218667
NihabaAshi