BP, if you are indeed quiting, I wish you the best of luck on your next endeavor.
OK, I quit, enough is enough, no more trading!
- Thread starter BPtrader
- Start date
Quote from BPtrader:
wasted a lot of these things on trading:
1. Time: 4 years.
2. Money: $80,000.
3. Hair: half turned white.
4. Mental health: need regular medication to calm the nerves.
5. Friendship: alienated almost all friends and relatives.
6. Eyesight: went from 20/20 to 500-level glasses.
7. Backbone: went from straight to bent.
Oh, my back, it hurts.
I quit.
That's all, folks.
End.
I am trully sorry to hear what had happen. This year was one of the toughest year in the past 20 years since i've been trading.
everybody thinking this is a get rich quick game, it is far from it.
first is that you have to enjoy it, learn it. and a lot of times spend studying and reading. Psychology is the most important part. Next, it is money management.
I don't post much here, but there are quite a few good traders posting here. Follow them and ask questions. I find some of them are very helpful. I don't trade equities much (only trade futures and commodities).
Good luck with what ever venture that you will get into next. 4 years and 80k is nothing compare to the knowledge and the ability to control your income.
You said "Psychology is the most important part. Next, it is money management.".
That really depends on how you trade:
1) Sit in front of the computer, look at the colorful indicators, make a decision then trade - yes, correct.
2) Create a fully automated system, which without human intervention acquires prices, makes trade decisions, and executes them, using predictive analytics to make trade and money management decisions.
Here the key is the ability of the system to correctly predict future market changes, with money management a less important factor, since the higher your accuracy in terms of base trade predictability the less impact of money management. Psychology is not a factor since there is no human involvement at all.
Number 2 is my approach. It saves on your eyesight and posture as well.
Take a break, regroup, and rise like a 'phoenix from the ashes".
All this defeatist talk on this board sucks. tear in my beer......give me a break.
When you decide to start back up, start small and godammit write up a trading plan. Did you even have one? I bet you did not.
Analyse where you fucked up. What the hell are you doing taking meds for?
after the pity party is over on here, give yourself a good kick in the ass and get educated before risking one penny.
the prophet has spoken.
All this defeatist talk on this board sucks. tear in my beer......give me a break.
When you decide to start back up, start small and godammit write up a trading plan. Did you even have one? I bet you did not.
Analyse where you fucked up. What the hell are you doing taking meds for?
after the pity party is over on here, give yourself a good kick in the ass and get educated before risking one penny.
the prophet has spoken.
This guy claims he's great at trading and then just charges you money. He did the same thing to me. If he's so great at making money, why does he need to mentor people for money?