Need desperate help (Lost life savings)
- Thread starter Needdesperatehelp
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Andrea Wylan
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That isn't really dealing with the problem. The problem is internal. It needs to be dealt with or it will likely repeat.
Take your pick:
Hare Krishna‘s
QAnon
Tony Robbins
Mushrooms
Micro Dose
Hare Krishna‘s
QAnon
Tony Robbins
Mushrooms
Micro Dose
Maybe "Provided you learn from this" means something different in the English language than what I thought it did.
I was saving an absolute fortune in my late 20s living at home.
Almost zero expenses while earning six figures.
Mos Def. Look Into Gambling. Free Drinks, Shows, Comps. All Good.
Then Front A Band. Again Easy. All Good.
Sii-iiiiiiiigned, Dear Abby
https://elitetrader.com/et/threads/john-fuggin-prine.343541/#post-5327932
The thread is useful because we can all relate to the disappointment and frustration of losing money trading.
Some great ideas, and empathy.
My rebuilding process:
Over 21 years coaching thousands of active traders, I've heard it all.
The most important thing to get right is risk management. And specific skills, the process, for scanning, entries and exits, and price action trading with position sizing. Good luck.
Some great ideas, and empathy.
My rebuilding process:
- Trade much smaller size, fewer more selective trades. 1 share, 1 micro
- Don't overtrade, set a daily limit
- Don't stop trading entirely, don't just papertrade ("papertrading is for pussies" lol) because you lose the mental impact if you're not really trading. 1 share real trading is 100x better than 1k paper bs.
Over 21 years coaching thousands of active traders, I've heard it all.
The most important thing to get right is risk management. And specific skills, the process, for scanning, entries and exits, and price action trading with position sizing. Good luck.
Best advices I think came from carey. When You got beat down first thing to do is recover mentally. It can take few days or even a couple of months when You are deadly beat down. Don't take any decision and rebuild your mental state during this stage. After that, If You truly loves this job You need to create your own method for successfully managing trading. This is the hard part even If You truly have passion for this job.
Last thing, that once a great trader told me during one of these event: Reasonable expectations. If You don't get this concept than You are doom for failure in the long term, because You are neither an investor or a trader. Rather a gambler. If that is the case a couple of nights at Las Vegas are better suited and more fun too.
Last thing, that once a great trader told me during one of these event: Reasonable expectations. If You don't get this concept than You are doom for failure in the long term, because You are neither an investor or a trader. Rather a gambler. If that is the case a couple of nights at Las Vegas are better suited and more fun too.