Quitting Trading

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Quote from vilas:

First, keep your head. Don't jump to the next solution offerred.
I read a lot of answers to your mail - none suggested, you should try delegating trading to another. Why Not take this route ? Surely, trading has not been prescribed by your Doctor. You are doing it to make solid bucks. If this is true then you should try to work out what is the best way to achieve it. If someone else can do the trading for you, the money still flows into your account / Bank. These days there are foolproof ways by which to ensure security of your tradaing account. So, why hesitate ?
I wish you the best of health and wealth. If you want more specific advice you should send a PM to me - too many controversies arise around open suggestions - every suggestion can be interpreted as either good or bad, so I wish to avoid it. I am trading for 15 years without having a losing year or month.
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Never a losing month? Year? For 15 years???

What a load of CRAP!

This guy just wants your money.. don't give it!

Mh
 
its doable.. :)

there is a way of trading.. that reduces the probability of the noise going against you...and if it does, not for too long..

resulting in profits only on every trade.

trade selection and point of entry is key.
 
and oh yEAH...

WHAT THE FUCK IS WRONG WITH THE FUCKIN es JOURNAL..

FUCKING DATABASE ERRORS...FUCK THIS.

just tried to post.. about 20 times..

and you keep getting this crap..

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Quote from vilas:

First, keep your head. Don't jump to the next solution offerred.
I read a lot of answers to your mail - none suggested, you should try delegating trading to another. Why Not take this route ? Surely, trading has not been prescribed by your Doctor. You are doing it to make solid bucks. If this is true then you should try to work out what is the best way to achieve it. If someone else can do the trading for you, the money still flows into your account / Bank. These days there are foolproof ways by which to ensure security of your tradaing account. So, why hesitate ?
I wish you the best of health and wealth. If you want more specific advice you should send a PM to me - too many controversies arise around open suggestions - every suggestion can be interpreted as either good or bad, so I wish to avoid it. I am trading for 15 years without having a losing year or month.
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I have been trading for almost 10 years and have had 2 down months. this was in my first year of trading.

yes, key entry points are very important. I have a pretty solid system and I stick with it, for the most part. I am no perfect, I break my own rules sometimes but I do my best not to.
 
This isn't going to be what you want to hear, but you almost certainly will never become profitable as long as you keep trying to trade the futures. Basic technical analysis without any other edge is not a viable strategy on such a competitive contract like the the equity futures.

Look at the trader p/l thread. Notice how virtually all the successful traders trade stocks. Try to focus on stocks for the next year. And if you are still not profitable, move on with your life and do something else.

Alot of people talk about "never giving up" and all that nonsense. That might be good advice for someone trying to train for a marathon, but in a profession where 1% of the participants can sustain a good living, its a recipe for disaster.
 
Dear thread starter,

You need to get a mentor.

Some people can figure things out on his/her own. Others can't.

It sounds like you are one of those people who need to be mentored.

8 years of losing means you have a lot of weaknesses and holes in your system.

You must find people to help you on identifying these problematic areas because you obviously haven't been able to correct your mistakes on your own...even after 8 years.
 
Quote from jasper6:

Thanks for all of the responses. There is really too much for me to address. I don't consider myself a gambler. I never gamble on anything but the market and I've tried to find an edge so it isn't gambling at all.
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By your own admission , you are in a state of denial as is common with many compulsive gamblers.

Do you have any idea how many gamblers search for an edge, whether in horseracing, casino games, or the securities markets?

You have no source of income--$75K is your nest egg--and you are willing to risk it all for the "answer," regardless if you do it slowly with 1 contract or more.

You need an intervention and you need it NOW, not later. Why wait until you hit rock bottom and have to move back in with your parents?
 
Quote from phlegmologist:

By your own admission , you are in a state of denial as is common with many compulsive gamblers.

Do you have any idea how many gamblers search for an edge, whether in horseracing, casino games, or the securities markets?

You have no source of income--$75K is your nest egg--and you are willing to risk it all for the "answer," regardless if you do it slowly with 1 contract or more.

You need an intervention and you need it NOW, not later. Why wait until you hit rock bottom and have to move back in with your parents?
More...


He is 51
 
Please give up on trading the account, but DO NOT EVER give up on trading.

You have put in way too much time into this to quit. You may be one step away from success and not knowing it.

My suggestion is get a job, while trade a paper account. Trading a paper account sound silly and that's what most traders want you to think--trading a paper/small account is silly. But do not buy into that. It's like poker. They just want you to go all in with your bad hand.

Keep trading. Once you got it, then go all in. In the mean time, enjoy your life and bring some balance into it.

Pension_Admin
 
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