+1
Great post!
OK, I Quit. Trading is Too Tough for Me
- Thread starter 4DTrader
- Start date
+1
Great post!
May I suggest forget about working the stockmarket (trading) for money and consider working on life and maturing.
What I mean is, trading has many positive spinoffs which make you grow as a person.
Such as;
Planning
Perseverance
Discipline
Being systematic
Prioritising
Getting educated
Being involved, busy, working toward goals
Understanding psychology [of the masses and yourself]
Keeping up with changing circumstances
Evolving as a better person.
I see so many people who drift thru life aimlessly, no purpose except short term jumping from pillar to post ideas.
Trading brings a lot of ideas together.
Definitely take your eye off making money, look at the big picture, the longer term, and quietly work toward building bridges.
Trading takes years, a journey, not a destination.
No quick fixes, no shortcuts, trading is internal, not external, ie working on our own shortcomings.
What I mean is, trading has many positive spinoffs which make you grow as a person.
Such as;
Planning
Perseverance
Discipline
Being systematic
Prioritising
Getting educated
Being involved, busy, working toward goals
Understanding psychology [of the masses and yourself]
Keeping up with changing circumstances
Evolving as a better person.
I see so many people who drift thru life aimlessly, no purpose except short term jumping from pillar to post ideas.
Trading brings a lot of ideas together.
Definitely take your eye off making money, look at the big picture, the longer term, and quietly work toward building bridges.
Trading takes years, a journey, not a destination.
No quick fixes, no shortcuts, trading is internal, not external, ie working on our own shortcomings.
OK...but if you DO quit.............can I have all your stuff?
To the OP: you sound really uneducated about basic statistics/probability. How about you take a couple courses at your local community college?
He has an edge.
He just needs to mentally discipline and condition himself to follow it.
Another six months to a year and maybe you could make something happen.
This is why trading is hardest thing to do ... this is why.
GL
JJ
He just needs to mentally discipline and condition himself to follow it.
Another six months to a year and maybe you could make something happen.
This is why trading is hardest thing to do ... this is why.
GL
JJ
One easy definition is something that gives you a greater than 50/50 chance of success in any given endeavor ... you can plug in the details.
Hereâs a leg up for struggling traders.
You need to take notes, lots of notes, itâs the roadmap of where you are going, why you are going there and how you are going to get there.
The notes need to be kept on a computer as you will edit them hundreds of times, adding subtracting and altering them along the way, because at first you wont know clearly where why and how, everything evolves as we grow.
Suggest use spreadsheets or something where you can keep columns of ideas.
Here are some suggestions of what you may wish to detail:
A calendar of trading events, seasonality events
Which markets you wish to trade, which best suits your style
Advantages and disadvantages of certain markets
Time frames you wish to trade, eg frequency which suits your life style
Components of your trading system
Specific Web sites for obtaining information
Which universe of stocks you will and wont buy
Setups, entries and timing
Risk
Money management and position sizing
Stop loss and exits
Factors which influence price movement
Technical analysis ideas
Fundamental analysis ideas
Which indicators or fundamentals you will use (if any)
Psychology of the markets and contrarian behaviour
Contingent orders
To do list
Misc tips
Bull, Bear, toppy, bottomy, crabbing market characteristics
Trading long vs trading short advantages and disadvantages
Gearing
Hedging
Lessons learnt, mistakes made
Strategies you wish to employ
Probabilities
Factors which increase win rate
Volatility
â¦â¦.etcâ¦â¦.
Donât ask me for specifics, you need to work this out yourself, everyone has their own style, what suits me may not suit you, as mentioned previously, itâs an internal thing, between you and your methods and life style.
You need to take notes, lots of notes, itâs the roadmap of where you are going, why you are going there and how you are going to get there.
The notes need to be kept on a computer as you will edit them hundreds of times, adding subtracting and altering them along the way, because at first you wont know clearly where why and how, everything evolves as we grow.
Suggest use spreadsheets or something where you can keep columns of ideas.
Here are some suggestions of what you may wish to detail:
A calendar of trading events, seasonality events
Which markets you wish to trade, which best suits your style
Advantages and disadvantages of certain markets
Time frames you wish to trade, eg frequency which suits your life style
Components of your trading system
Specific Web sites for obtaining information
Which universe of stocks you will and wont buy
Setups, entries and timing
Risk
Money management and position sizing
Stop loss and exits
Factors which influence price movement
Technical analysis ideas
Fundamental analysis ideas
Which indicators or fundamentals you will use (if any)
Psychology of the markets and contrarian behaviour
Contingent orders
To do list
Misc tips
Bull, Bear, toppy, bottomy, crabbing market characteristics
Trading long vs trading short advantages and disadvantages
Gearing
Hedging
Lessons learnt, mistakes made
Strategies you wish to employ
Probabilities
Factors which increase win rate
Volatility
â¦â¦.etcâ¦â¦.
Donât ask me for specifics, you need to work this out yourself, everyone has their own style, what suits me may not suit you, as mentioned previously, itâs an internal thing, between you and your methods and life style.