Trying to transition from full time job to trading. Having trouble with discipline.

[jinxu]

I'm not a beginning trader.

 

[jinxu]

I think it has been said here, but leave a full-time job to devote himself only to the Fx market, does not seem a very good choice, just my opnion try a mix between the two, find more time ... and has a lot of discipline, study and learn always and be willing. GL

Personally I don't like trading during work hours as there is too many things that can go wrong.

 

[gkishot]

Hello all,

I'm still working but am practicing my trading skill during off work hours. I have two way to trade. But not wanting to give out too much details, I'm going to us an analogy referencing the tortoise and the hare fable.

I have one trading system that is boring slow but steady and consistent. Using this system has giving me close to a 100% success rate so far this month. Risk is minimized. Problem is the the profits are slow but they add on. (the tortoise)


How do I stop this?ut on a lot of big hits to me being impatient.

Trade both.

 

[rexlord]

I'm not a beginning trader.

Your assumptions suggest otherwise
If you think you can just size up and go from making $250 to $25000 without having any psychological difficulties to deal with - you are either a beginner or you are already the richest trader on the planet.
Same goes for your assumption that you can maintain nearly 100% win rate and 20% ROC each month. This doesn't exist. If it did, you would quickly become the richest man on the planet.
In any case good luck to you, let us know how this works out for you

 

[jinxu]

Sure, we'll see how it goes. Regarding your psychological difficulties. I mentioned before I use meditation and sleep therapy. The meditation will help keep the psychological difficulties under control. The sleep therapy will help me go into what's call "trading in the zone". You heard of the book? I figured out how to do both. Again the sleep issue were really important. I can't stress that enough. It was a limiting factor. Now has been removed as long as I can keep it up. Those are my secret cards.

How else do you think I was able to maintain a high win rate?

 

[bone]

From what I've seen over the years, projecting success in trading is dubious. One of my mentors, David Ellis from DE Trading/International Trading Group in Glenview IL, thought projecting forward in trading to be foolish. Just my own 2 cents, YMMV.

 

[jl1575]

It is so often people come out and claim something, and when they do that, they are seeking public approval; and when you need public approval, it shows you are not confident enough, your system is not that fabulous enough, so you need confirmation or approval from others/public. When someone really has something that will make them from 1K to 1M within a rather short period of time (say one year), they won't post anything.

 

[jinxu]

I'm not seeking approval. People posted a message. I replied with information. I don't really need to post anything. If no one like what I post, then I will stop giving out more information from here on. Unless I need some information or advice. You're right there is no benefit for me to post if I go from 1K to 1M.

 

[Stadtmuller Von Texas]

Hello all,

I'm still working but am practicing my trading skill during off work hours. I have two way to trade. But not wanting to give out too much details, I'm going to us an analogy referencing the tortoise and the hare fable.

I have one trading system that is boring slow but steady and consistent. Using this system has giving me close to a 100% success rate so far this month. Risk is minimized. Problem is the the profits are slow but they add on. (the tortoise)

The other trading system is more exciting fast quick large. Using this system takes on more risk. But I can get richer if it success. However I can lose just as much quicker if it doesn't work out. (the hare)

I know logically I should trade like the tortoise. But I get impatient and have the urge to trade like the hare. How do I stop this?

I feel like I missed out on a lot of big hits and home runs trades by not trading like the hare. Which contribute to me being impatient.

Put more money on the system that is producing close to 100%. Nothing cures impatience like some good losses. Been there done that.

Stadtmuller Von Texas

 

[bone]

I'm not seeking approval. People posted a message. I replied with information.

Now I'm confused. You were the OP of this thread.

To be fair, it is quite rational for members to voice a bit of skepticism.

Do you have the means to support yourself in terms of housing and living expenses outside of your trading income? I ask because with such a modest amount of capital in your trading account logic dictates that alone would be the dominant concern. I wish for you the very best whatever you decide.