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OK, I Quit. Trading is Too Tough for Me
- Thread starter 4DTrader
- Start date
Quote from jacky.giller:
I think that you shouldn't give up that easy , you should fight for it till the end ..
That seems just awful to me -- so everyone who tries trading and is unsuccessful is supposed to run his/her entire life savings into the ground just to "stay in the game"?
There's a lot more to life than trading. Staying in at all costs completely defies even a modicum of wisdom.
Quote from highlifejoker:
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
While I agree that "loving market" is a bad idea, one has to at least be interested in trading to try it and continue doing it. And I strongly doubt that those who most enjoy trading are the ones most prone to failure -- unless, of course, you strictly define "loving market" as seeking adrenaline highs from wildly risky trades.
Quote from CoralReef:
Maybe your plan was too vague, rules weren't clear enough perhaps..
Even many (my guess is, most) "clear plans" will almost certainly lose money in the long run. Without a real edge, any trader is simply toast, plan/discipline or not. The market being an ever-changing entity, we've got to make an educated guess about this ourselves; but that's just part of the job.
As JH mentioned trading is counter-intuitive (counter-feeling) [actually I'm not his fan], meaning that the result is exactly the opposite of what we had wished. What JL had mentioned is still true, instead of hope you must fear and instead of fear you must hope. The question for us is WHEN should we apply this wisdom? As it turned out that it didn't work for every situation when we applied it. Trading does take time for us to overcome the above fact, to incorporate that way of working into our inmost thought, to act against our natural reaction. To do so we need to deeply understand how market works and of course ourselves. And it does take time to do both...
Quote,
"That seems just awful to me -- so everyone who tries trading and is unsuccessful is supposed to run his/her entire life savings into the ground just to "stay in the game"?"
Everything in life comes by trial; I cannot stop and avoid everything just because of my fear from the coming or losing the "game". And sure trading doesn't mean throwing one's life savings on "the ground". It depends on first, you as a trader, second, the strategy used in your trading, and above all your right choice of he who manages you your funds and directs you professionally. And the "wisdom" doesn't rely on avoiding trading just because it is not the aim sole in life for sure, but it is a mean to an end. And why not trying success? Just try it but try it right
"That seems just awful to me -- so everyone who tries trading and is unsuccessful is supposed to run his/her entire life savings into the ground just to "stay in the game"?"
Everything in life comes by trial; I cannot stop and avoid everything just because of my fear from the coming or losing the "game". And sure trading doesn't mean throwing one's life savings on "the ground". It depends on first, you as a trader, second, the strategy used in your trading, and above all your right choice of he who manages you your funds and directs you professionally. And the "wisdom" doesn't rely on avoiding trading just because it is not the aim sole in life for sure, but it is a mean to an end. And why not trying success? Just try it but try it right
Don't quit!
Quote from jacky.giller:
Quote,
"That seems just awful to me -- so everyone who tries trading and is unsuccessful is supposed to run his/her entire life savings into the ground just to "stay in the game"?"
Everything in life comes by trial; I cannot stop and avoid everything just because of my fear from the coming or losing the "game".
I agree that trying trading is a great idea for many people -- otherwise, would any of us be here? -- but to say that the OP should try "to the end", as in your prior post, is bad advice, in my opinion. Now, if he wants to try searching for profitable strategies part-time while working, I see nothing wrong with that. THAT would be trying something new and different. But the current path he's on will very likely lead to him squandering the rest of his savings, and I can't see that as positive or wise.
It is an empirical fact that most people who try trading will never find an edge, and without an edge, expected loss is a mathematical reality. At some point, traders without an edge who try trading a large fraction of their net worth, or full-time and independently, simply must quit. They can quit early and have some money left, or they can quit later after losing their life savings, house, and possibly relationships. This doesn't mean don't try; but it does mean there's a rational point at which to stop trying, or maybe seek a day job while experimenting with trading part-time.