YES. Listen to this f*cking fool. He hasn't made a dime in the mkts since they got rid of the ticker tape. There should be a Surgeon General warning next to his handle.
Need desperate help (Lost life savings)
- Thread starter Needdesperatehelp
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YES. Listen to this f*cking fool. He hasn't made a dime in the mkts since they got rid of the ticker tape. There should be a Surgeon General warning next to his handle.
This guy, who should have known better, blew up...several times. https://www.newyorker.com/magazine/2007/10/15/the-blow-up-artist
And Cordier: https://www.tampabay.com/business/h...be-apology-after-losing-150-million-20190206/
And let's not forget Livermore blew up a few times and eventually killed himself (although maybe not for money reasons).
So you should...um. Well I guess all this may not be helpful.
Anyway, if the market can fvck you over, it will. DON'T LET IT
And Cordier: https://www.tampabay.com/business/h...be-apology-after-losing-150-million-20190206/
And let's not forget Livermore blew up a few times and eventually killed himself (although maybe not for money reasons).
So you should...um. Well I guess all this may not be helpful.
Anyway, if the market can fvck you over, it will. DON'T LET IT
Tell your family especially your future wife. If she forgives you, you know you have a keeper. If not you move on knowing moving on is the right choice.
Most of all you need to treat your gambling mentality. Sounded like you won't quite trading until you lost everything, just like a gambler.
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How many times have you been Sim Trader of the year?How much was your life savings, i.e., how much did you lose in total? And you lost this trading what exactly?
Cheer up, pal. At 28 you're still young and have plenty of time to make it back. It would have been way worse if you were an older guy and literally had no options or time. Mark D. Cook, market wizard featured in Jack Schwager, lost it all and even went into debt quite a bit. Incredibly, he spent the next years paying back his debt and getting back into the markets and came through successfully in the end.
To be honest, though. Succcess in this business really is for the few, so might not be a bad idea to consider doing something else. The best advice would probably be to get an actual job in the industry. That's what I would have done if I were young and found the opportunity.
Good luck either way.
Meaning...?
you cant have good probability and a favorable risk reward. Thats called a perfect trade and it doesnt exist. Just shut up, you gonna hurt this dude more than help.
Why are so many of the advice pinning everything down to emotions and psychology? Most likely the OP doesn't know what he's doing. First step is to stop and prove you DO know what you're doing before putting any more money in. Not to encourage him with inspirational anecdotal stories, cos guess what, that reeks of survivorship bias.. for every one remarkable story of how a star trader never gave up and made the turn, there's countless others who also never gave up but lost everything and more (you just don't hear/read about it).
Now for the positive notes. You ARE still very young and can bounce back from this experience. Success IS possible but you must acquire the proper skills. In the event of failure - which is ALSO POSSIBLE - you must have the self-honesty to quit.
The cold truth is that successful trading is beyond the reach of the VAST majority who try, just like in any performance field. Everyone is entitled to try, but they should know their quitting point before they do.
Now for the positive notes. You ARE still very young and can bounce back from this experience. Success IS possible but you must acquire the proper skills. In the event of failure - which is ALSO POSSIBLE - you must have the self-honesty to quit.
The cold truth is that successful trading is beyond the reach of the VAST majority who try, just like in any performance field. Everyone is entitled to try, but they should know their quitting point before they do.
Bit of nonsense in this post, too much for me to bother replying to, but this....'Most likely the OP doesn't know what he's doing.'
Most likely??? Lmao. 100% likely.