OK, I Quit. Trading is Too Tough for Me

Well said.



Quote from guy990opl:

If you are going to quit you should be very proud of yourself.

I kid you not, the reality is that most retail traders have no idea about what they are doing and they are looking for excitement more than to make money consistently.

I am a professional trader, so far this year my account is up 38% and as I mentioned some other times often I feel like I am stealing candies from kids.

Here some of the things that helped me to get where I am now.

1) I love what I do, even if I made less money I would still do this

2) I have the rare luck of learning from another professional trader, after quitting with him, I will do things on my own

3) I have a capitalized account, think six figures, doesn't matter how much we try to get it right, as soon as we start doing something new we will make mistakes. A capitalized account helps you to survive while you correct your mistakes

4) I have found some tools that helps me to get the job done

5) I have an edge, in my case it is about trades with high probability of success, I am non directional, I do not have an opinion about the market, my goal is to make money every month, I am going to give up on home runs, all I want is to hit the singles every time.

6) I have a plan

Everything I mentioned it is only a starting point there is more to trading, that's why most people will fail. What I do is one thing, there are 100 ways to make money and 1000 ways to lose it. By being humble enough, you show that you are wiser than most people who keep trying with average results at best. You show that you accept the harsh reality and it is a great start to get better at anything.

My suggestion to you is to look for a good mutual fund, believe it or not there are a few out there, and they have , in a long time frame, a much better performance than the performance of most of the people on this board. Hope, is all most people got.

The fact that one really really hopes/wants to win the lottery does not mean that he is going to. When someone does win there is a lot of buzz a picure is on the paper, everyone gets excited and many many new players will show up, however at the end of the day who makes the money is the casino. I am the casino. My trading certainly lacks of all the glamour and excitement, but...it works.

If you saw a lot of grammar mistakes it is because English is not my first language, but in my opinion you are doing the right thing.

Stop trading today !
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Quote from 4DTrader:

Any comment is welcome.
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hope this helps:

1) met a guy today, his life could be better, lives out of a Motel 6 or 8 or something, and in return for managing the place, they look after him

So what, what stuck in my mind was that he kept using the word "difficult,"

So what, well, had he used the words "not so easy," well, things may be different, and for the better for him

Conclusion: the brain does not recognize the word "not," therefore had he used the words "not so easy," then life would be a peach

Conclusion: using positive words results in positive outcomes, knowing full-well that the brain does not recognize the word "not"

Conclusion: use the present tense, instead of saying this trade "will" work, say this trade "is" working and I am in profit, or "has" worked and I have made loads of money

(notice: only commas used above)
 
Well. I found positive thinking won't help in trading most of the time...facing reality is more important ( at least to me) so that I won't give myself any false hope when I execute my exit stratgey...

Quote from 1000:

hope this helps:

1) met a guy today, his life could be better, lives out of a Motel 6 or 8 or something, and in return for managing the place, they look after him

So what, what stuck in my mind was that he kept using the word "difficult,"

So what, well, had he used the words "not so easy," well, things may be different, and for the better for him

Conclusion: the brain does not recognize the word "not," therefore had he used the words "not so easy," then life would be a peach

Conclusion: using positive words results in positive outcomes, knowing full-well that the brain does not recognize the word "not"

Conclusion: use the present tense, instead of saying this trade "will" work, say this trade "is" working and I am in profit, or "has" worked and I have made loads of money

(notice: only commas used above)
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Quote from Rearden Metal:

Does anyone else here actually think that having a highly competitive personality is a <b>negative</b> trait for a trader to have?! :p
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Yeah. If it manifests itself as "I need to win", one could spend a lot of time hanging on to losers. A competitive personality needs to be tempered correctly for success.
 
Quote from BlindLemonBoosh:

Yeah. If it manifests itself as "I need to win", one could spend a lot of time hanging on to losers. A competitive personality needs to be tempered correctly for success.
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I understand what you are saying about a possible manifestation, but I believe that is a totally different character flaw not derived from competitiveness.

When you are competitive you have the drive to develop whatever skills are necessary to be able to compete at a level of your choosing. There is a big difference in NEEDING to win as opposed to having the drive to learn HOW to win. A competitor enjoys the FUN of the competition as much as the potential outcome.

Let's face it. If you are not intelligent enough to know that your WILL NOT win at everything all of the time you might as well jump off a bridge now, because you life is going to be one disappointment after another.
 
I understand what you are saying about a possible manifestation, but I believe that is a totally different character flaw not derived from competitiveness.

When you are competitive you have the drive to develop whatever skills are necessary to be able to compete at a level of your choosing. There is a big difference in NEEDING to win as opposed to having the drive to learn HOW to win. A competitor enjoys the FUN of the competition as much as the potential outcome.

Let's face it. If you are not intelligent enough to know that you WILL NOT win at everything all of the time you might as well jump off a bridge now, because your life is going to be one disappointment after another.
 
hi 4dtrader

Trading becomes much easier now, however it is so much important to have a trading plan. And this plan has to be changeable because the market activity is not stable. However it is important to trade firstly on your practice account on your platform, this practice account helps you to trade and to make mistakes as you like without losing real money. And then you will be qualified to start trading on live accounts wish you best of luck;)
 
Fact is, market attracts the EXACT people who are most ill suited for the job. if you loive market and trading YOU WILL lose--loving marekt means you cant see edge or are blinded delusion thinking you have edge when in fact you dont. bad combination
 
I think that you shouldn't give up that easy , you should fight for it till the end ..

i got a suggestion ,, may u could try the money manager , it will help you alot because it is managing your funds and helping making you profits and from him you can collect your trading experience and then you may try managing funds yourself ,,so u will learn alot from it .......

then you'll be free after that ( i mean after getting an experience to re-arrange your plan to put it on the right track.-
 
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