Quitting Trading

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I'm sorry I haven't been responding to every reply. I guess it's hard to hear that I'm just not cut out for this after 8 years. It's also hard to face the fact that I spent a considerable amount of money supporting myself while trying to make it. It's also hard to face the fact that I might have to look for a job after working for myself for 20 years.

I'm not placing any trades. I am depressed. Who wouldn't be. I blew it thinking I could make it doing this. I lived in denial for along time thinking it would turn around.

I guarantee I spent as much time and energy as anyone tryinging to make it. Without having at least some occassional success, however, it is hard to maintain the passion.

If I could just net a point a day like I see a lot of you do I would still have the fire I did when I started.
 
You can't "net a point a day". Trading is not like a 9 to 5 job where you get paid by the hour. Give up on that ridiculous illusion right now or it will cost you.

You don't have a choice right now that will end with success as a trader. Your choice is getting work, and within 6-12 months being an employed 51 year old with $75k and no debt (not too bad a position), or being a broke 55-60 year old because you kept trying to "net a point a day" and pissed your life away on something difficult and totally unsuited to you.
 
Quote from jasper6:

I'm sorry I haven't been responding to every reply. I guess it's hard to hear that I'm just not cut out for this after 8 years. It's also hard to face the fact that I spent a considerable amount of money supporting myself while trying to make it. It's also hard to face the fact that I might have to look for a job after working for myself for 20 years.

I'm not placing any trades. I am depressed. Who wouldn't be. I blew it thinking I could make it doing this. I lived in denial for along time thinking it would turn around.

I guarantee I spent as much time and energy as anyone tryinging to make it. Without having at least some occassional success, however, it is hard to maintain the passion.

If I could just net a point a day like I see a lot of you do I would still have the fire I did when I started.
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Id take the $75k and pick a side and double down... fuck it...then go get a job...peace
 
Instead of wasting your money trading. Take a small amount of it and spend it on a mentor. Try this guy: http://www.youtube.com/watch?v=RSBhXBfd7bE


It seems to me that you are so busy insisting to the market that it give you your point per day, that you have failed to pay attention to what it is communicating to you and to any other trader who cares to pay attention.
 
Quote from ElCubano:

Id take the $75k and pick a side and double down... fuck it...then go get a job...peace
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2 outcomes here:

1) he picks the wrong side, loses everything, falls into deep depression and commits suicide.

2) he picks the right side, decides that this is the holy grail and doubles down until he ends up at 1)
 
Quote from DrEvil:

2 outcomes here:

1) he picks the wrong side, loses everything, falls into deep depression and commits suicide.

2) he picks the right side, decides that this is the holy grail and doubles down until he ends up at 1)
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he has a better chance of being on the right side than 8 years of stomach turning torture slowly grinding the wrong side of things........ which one sounds easier....and he can work while he waits for the outcome...peace...
 
Is this thread never going to end? So the thread starter has blown away half his money amidst his macho fantasies of being a big-timer. For him to become a big-timer: ain't gunna happen. Is he going to see sense? Who the shit knows. I'd say this to him: blow away the rest of your money. Then you're done.
 
Quote from jasper6:

I'm sorry I haven't been responding to every reply. I guess it's hard to hear that I'm just not cut out for this after 8 years. It's also hard to face the fact that I spent a considerable amount of money supporting myself while trying to make it. It's also hard to face the fact that I might have to look for a job after working for myself for 20 years.

I'm not placing any trades. I am depressed. Who wouldn't be. I blew it thinking I could make it doing this. I lived in denial for along time thinking it would turn around.

I guarantee I spent as much time and energy as anyone tryinging to make it. Without having at least some occassional success, however, it is hard to maintain the passion.

If I could just net a point a day like I see a lot of you do I would still have the fire I did when I started.
More...


Oh boo hoo....enough already with this sob story.....it's time for you to "man up"...

So it took you 8 years, and you still haven't got it..I was unprofitable for 10 years....try that on for size......and I have been profitable for some time now....but I never gave up, and I never cried about it..I took sole responsibility and simply stopped doing what didn't work, and kept doing what did work...

Also, Phantom of the Pits advice helped me tremendously...google it

The vast majority of traders fail because they have no "game" = trade management. Trying to play the probabilities of trading is like bending over and asking Mr. Market to shove it right up your @#$%.

Focus on your trade management and take control of the outcomes.
 
Quote from Champion:

Is this thread never going to end? So the thread starter has blown away half his money amidst his macho fantasies of being a big-timer. For him to become a big-timer: ain't gunna happen. Is he going to see sense? Who the shit knows. I'd say this to him: blow away the rest of your money. Then you're done.
More...

Keep it real, not like these guys encouraging you to blow your last $s. You are going to have to get a job and when you do you will be 100% better off having the $75K cushion than you will be penniless. I don't know your skill set but it could be that that $75K represents several years of savings on whatever salary you can make. You need perspective and you are not likley to get much of it on ET as the fact is that most people on this site are just like you, they just don't know it yet.

Get away from trading for several months and focus on rebuilding your life, back to basics. Then if you still have an interest in trading you can get back in to it smart as I suggested in an earlier post. All is not lost by any means and you are still young enough to make your life in to what you want (if you take care of your health) but you have to face where you are and start taking concrete steps to put you on a road to a better life and never forget that the best things in life truely are free. Sincere good wishes.
 
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