Trading for living is just like many other business ventures, and should but thought of accordingly IMO. You're working for yourself, you're making money sometimes, sometimes not... work for the long term with (hopefully) consistent results.
Don't spend the money you make, just because you think you might lose it back. Take out profits, put them aside, pay off your cars and your house before buying fancy cars and boats, etc.
One of my top traders would call his wife right after the bell everyday. On speaker phone one day. "Hi dear, how was your day?" Trader says "Great, I made $14,000 today" - she says "good, don't forget to pick up diapers on the way home." Next day "How was your day?" Trader says "Oh, man I got killed today, down $10K, and the specialist screwed me over again." Wife says "OK, well, don't forget those diaperss again."
Point being, wife is much more stable than the trader, LOL. Treat trading as a business, work to have more in your account at the end of the month than at the beginning.
Some salaried types are worse than traders. I know some 6 figure guys who spend 110% of every nickel they make, up to their eyeballs in debt. No different with a reckless trader.
Don
