What will you do if you don't succeed in trading?

Quote from John47:

JMowery, you totally support yourself off of trading profits?
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I have to, if I wasn't doing this I'd have to go get a job at Home Depot or Burger King or even with my sister's husband doing electrical work.... something to support myself, after my father passed away, it got real tough, and I've had to move on from high school.

Gotta make money somehow, all the money I earn now is going to longer term investments so I can be secure in the future.

Although I'm more interested in experience, I do need to make money to continue to support my trading, no money, no trading, simple as that.

It's been tough, but, I have a system that will work for a little while, I don't know how long my scalping will be valid for in the markets, I wasn't able to accomplish it in Futures, and I just scalp a few cents from stocks each day from price action.

I am just interested in setting myself up for the long term.

If for some reason, I can't make a dime anymore, it's fine, I'll go get a job, and support myself until I find strategies that will work for my trading, I'm also interested in programming a few simple automated systems for Tradestation, but not in a hurry for that, that's a longer term thing, I'm just doing the best I can now.

I'm just trying to survive.... that's all I really care about, and learn for as long as I can.

The markets will always be here, I'm just wanting to take my chance now while I'm young and have time to take risks, before I get serious in life, if I do very well in trading, then so be it, but I always look for backup plans and planning for my future first, I give up blowing my money to secure my future now, I think that is how it should be done, and that is how I'm trying to do it, especially from when my family usually works hard all their life for a living, we come from Pittsburgh PA, and if anyone knows about pittsburgh, then they will know what I'm talking about.

My family does not like what I'm doing... but, I have to do it, this is what I love to do. If I wasn't doing this, I'd be working my ass off producing some music or networking for music or something, but trading is what I want to do.

So.... just doing my best that I can do.
 
I succeeded when I decided I wasn't happy doing anything else. If I lose more than I make, I've still succeeded.
 
Quote from JMowery1987:

...But, do NOT, call me a fake, because I put more effort into this than you could ever dream. I am a trader, and I will always be one because it is apart of me.
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Hopefully you will make it. Don't criticize my style of trading though. I think you are way out of your league here friend
 
Quote from TruthSeeker247:

I think you are way out of your league here friend
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:confused: :confused:

See, this is why you have me on your case.

You are better than me, because I'm not in your league? *Which is the league of extrodinary blow ups*

You blew 30k, so therefore you are a better than me, I guess my consistency has nothing to do with trading anymore.

Strange world we live in, I'm going to adopt a new method on ET.

If I don't like what I see, If I don't agree with what I see, and if it doesn't make sense PERIOD, I'll just keep quiet and let others do their thing.

My new method of communicating begins............... NOW
 
Quote from JMowery1987:

It's a risk we all take, if you are not willing to take that risk, you shouldn't be trading.

It's anyone that tries to be self employed, they risk everything to do it on their own.

It's risks we take for rewards, sometimes it doesn't work out.

If you spend several years at trading, to one day blow it all, there is something wrong. Perhaps a person got cocky and started feeling overconfident and blow it all on a few trades.

Maybe systems stop working, but if you have been trading for several years, I'd assume you'd have enough capital to save up for a year or two to be able to adjust to new things.

Regardless, it's a risk we all take, failure is a part of the game, if someone fails, they move on. We all regret things in life, our goal should be that we try to have as few regrets in life as possible.

I'm not one of the 90%, but I'm not yet the 5 or 10%. I am fortunate to have youth on my side, so I can take risks. If I do this for 2 or 3 years and things go bad, I can always go back to school with student loans and work a job, my sister's husband owns an electrical business, he'd pay me 8 dollars an hour, which I could deal with.

I have backup plans.

Everyone should have a backup plan.

If your trading is going well you should possibly be saving your money, not spending it, preparing for the worst. I have several other investsments that I started before I persued trading so that even if I blew all my money, I still have something to fall back on.

I can't imagine many other 19 year olds saying that they are preparing for 10 to 20 years down the road, but I am.

If you fail, you should have accepted the fact you will more than likely lose all your money.

I accept the risk every day, and I have backups incase.

Figured i'd chime in to help anyone that recently got in this game. EVERYONE should have a backup plan. Especially considering the failure rate is so high, you'd be stupid if you didn't have a plan, and that is fact.
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Aren't you the guy who posted a thread in which you CAN"T GET AN APARTMENT on your own? Well, in that case, I am so glad you "chimed in" to help all of us out here at ET. We surely can use your expertise.
 
Is there anyone here on EliteTrader who found a job after several years of unsuccessful full-time trading?

If so, how about sharing your story of how your job hunt went?

How long did it take?

How many resumes did you send out?

What job were you hoping to get at the beginning of your job search, and what did you end up with?

How does your new job compare to the old job that you had left orginally for trading?

What was your prior education and job background?
 
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