You are NOT alone…..trading and depression.

Quote from insert:

I decided to write this for all the new people as well as for old geezers to jibe their memory. What got you into trading. Lets face it, its HOPE.

This hope is extremely strong, it is actually the same thing that forces us to live, despite sometimes pretty bad conditions. Hope overwrites reason and logic, and someone once said that hope is at the same time our greatest strength and our greatest weakness.

After a new person blows up his/her first account, they either give up or decide to get serious. Few decide to get serious and acknowledge that they don’t know much of anything.

We must always remind ourselves that its OK to fail. The reason its fine is because we are not perfect and we must forgive ourselves. In fact we must congratulate ourselves for having the guts to DREAM.

Depression is a difficult thing, and depression will happen to a new trader. We put so much pressure on ourselves we can go postal. I would even go as far as saying that depression is worse than death.

That is why its wise to forgive oneself and let go of guilt, furthermore we are not all born equal, some are too smart, some are not. We must remember that.

And finally we can not be angry at traders like me who trade well but won’t help. We are after all, ALL competitors here.

But my dear Noob, as you can see those of us who “get” it went through all the hardships you are now going through.

You may not be able to see us behind your computer but you are never alone.

Best Regards
BV
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And when all else fails there is always Smith and Wesson...
 
Trading is a tough business.. no doubt about it. The only way 99% of traders will succeed in the long run is if they have a documented trading plan that contains an edge. A plan that includes a lot more aspects then just trade setups and markets to trade. The other 1% are just plain lucky or able to execute a plan in their head at all times. Trading without a plan with an edge is like going out, buying a set of clubs and competing against tiger woods the next day. It takes time, practice and discipline. I believe that most traders(myself included) will not rid themself of a lot of these psychological issues until they understand and implement this crucial aspect of trading.
 
Well, I have to admit I suck in trading. I think I am pretty smart and succeed in almost everything I am serious about, from sports to academic, to hobbies, etc, but not trading.

Now, trading is my only hobby. I am not lazy, constantly I stay up till 2 or 3 am doing research. It has been 1.5 yrs, but I still haven't found a clue yet. There are many times I thought I found the holy grail, but turned out I lost pretty big.

Some times i am really mad at myself. Trading is THE toughest work I have encountered in my life. I am not going to give it up easily. It is about HOPE.

Cheers everyone.
 
Quote from freewilly:

Well, I have to admit I suck in trading. I think I am pretty smart and succeed in almost everything I am serious about, from sports to academic, to hobbies, etc, but not trading.

Now, trading is my only hobby. I am not lazy, constantly I stay up till 2 or 3 am doing research. It has been 1.5 yrs, but I still haven't found a clue yet. There are many times I thought I found the holy grail, but turned out I lost pretty big.

Some times i am really mad at myself. Trading is THE toughest work I have encountered in my life. I am not going to give it up easily. It is about HOPE.

Cheers everyone.
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I've been trading about 9 years. You have to put the time in to learn everything thrown at you then decide what to discard. Somehow in this process of elimination, one begins to provide themself with their own view of how the market presents opportunities and risks.

Depression and other mental health issues come into play (IMHO) because we need to make the transition from A) being able to influence our environment to B) having absolutely no influence on our environment. In other words, we need to change ourselves because the juggernaut market pays absolutely no attention to our efforts. We need to establish a symbiant role with it. It is not about the market. It is about changing ourselves. This, IMO is what causes the mental health issues. Knowing that in order to succeed, we need to abandon our previously held notions of who we are and what we can (or cannot) do. Ejecting our positive perception of who we are relative to what we do and what it matters is difficult on our psyche. I think this tearing down process is necessary to be able to build from the ground up in a functionally useful way... for those who can survive the process.

Just a thot.

Peace and gtty,

Lar
 
Quote from freewilly:

Well, I have to admit I suck in trading. I think I am pretty smart and succeed in almost everything I am serious about, from sports to academic, to hobbies, etc, but not trading.

Now, trading is my only hobby. I am not lazy, constantly I stay up till 2 or 3 am doing research. It has been 1.5 yrs, but I still haven't found a clue yet. There are many times I thought I found the holy grail, but turned out I lost pretty big.

Some times i am really mad at myself. Trading is THE toughest work I have encountered in my life. I am not going to give it up easily. It is about HOPE.

Cheers everyone.
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A couple of ideas. Don't be afraid to change strategies. I started off as a trader but was terrible. I became a fundamental long term investor and started to make money.

I came back to trading over the years w/ a better understanding of the fundamental picture. I use TA to time trades but its the fundamentals or perceived fundamentals that count. Also know when to fade the crowd. TA generally is horse sh....t - tough way to get rich. Also don't chase moves -- recipe for sustained losing -- via the trend followers.

I think your results will improve if you focus on not losing money as opposed to making money. Trade small and infrequently -- trade only when you're really on top of an idea. You can't help but do better. Even if you don't do that great profit wise -- at least you'll stop losing gobs of $. Eventually you'll bag a couple of nice profits a long the way. Good luck.
 
Quote from PhiliC:

A couple of ideas. Don't be afraid to change strategies. I started off as a trader but was terrible. I became a fundamental long term investor and started to make money.

I came back to trading over the years w/ a better understanding of the fundamental picture. I use TA to time trades but its the fundamentals or perceived fundamentals that count. Also know when to fade the crowd. TA generally is horse sh....t - tough way to get rich. Also don't chase moves -- recipe for sustained losing -- via the trend followers.

I think your results will improve if you focus on not losing money as opposed to making money. Trade small and infrequently -- trade only when you're really on top of an idea. You can't help but do better. Even if you don't do that great profit wise -- at least you'll stop losing gobs of $. Eventually you'll bag a couple of nice profits a long the way. Good luck.
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Well said.
 
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"because we need to make the transition from A) being able to influence our environment to B) having absolutely no influence on our environment"

Zeno, Cleanthes and the whole school of Stoics would applaud this statement. As would the Roman Emperor Marcus Aurelius - his "Meditations" are a very soothing and helpful treatise.

An acceptance of this concept can bring much comfort in life.
 
For anyone who would enjoy a more light-hearted and irreverent take on Stoicism I recommend "A Man in Full" by Tom Woolfe.

And for the more serious minded, the writings of the slave Epictetus are an essential read.
 
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