Registered: Sep 2005
10-07-12 09:42 PM
Quote from kut2k2:
That's your subconscious telling you that the strategy isn't all that great. Traders with truly great strategies are eager to execute them, not reluctant.
What a great answer about reluctance to trade a system is really your subconscious telling you the system isnt that great. I always believed one's guy should be respected. George Soros even said that when he wakes up with a back ache, he knows to take that day off from trading. So maybe you can help me too......I started trading to build my moms retirement account and was a "fundamental" position trader mostly,all with her money and did well. But the allure of swing and day trading always had me distracted, and I began studying technical analysis day and night. I held a job and always wound up in somebodys trade/chat room any day I had off.
I loved being in a prop firms chat room trading equities with 400 guys from around the world all taking many of the same plays, and always getting flat by end of day. Problem is the firm went belly up, taking a good chunk of my "disposable income" with it and I started frantically learning on my own. I started studying fibonacci clusters and found 1 guy had a trade room in which he called out trades on the ES and Bonds along with a couple of currencies and definitely he made a profit. I paper traded with him but wanted to get back into mequities and left the room. Now I feel burnt out. The desire and the belief that I can day trade or even swing trade the markets for a living is for the first time, not that appealing anymore.(I also lost my confidence that despite being sharper now than ever before, that I can really succeed at swing and day trading enough to make iot worth leaving the job world for.)
I dont like to wake up early to trade anymore and now I just trade a micro account in Forex as I can set it and forget it. Im up 10% in my account papertrading last 2 weeks but if this system doesnt work, I feel Im ready to give up. But LITTLE VOICE in my head is screaming" Are you crazy? Youve been studying for too many years not to make a living trading!" Now... I just dont care. I took a long rest of 6 months before I found this forex system and still, I have just a small amout of enthusiasm left. Im sure if my account skyrocketed Id be feeling very different but I never ever have been lucky in trading. Ive always been the guy that when he thought he was flat a position in gold futures, im the guy who woke up the next morning and saw 30% of my acct was gone, never the other way around. I got into apple at 33 and sold it because it went to 31. Id have been rich from that alone and I just forgot to keep my eye on it and re-enter when it broke 36 as planed. Went to over 700 as you know. So Iv e been beat up pretty bad.
Should I quit? Is this apathy my subconscious telling me this is not the profession for me? I used to stay up till 4am studying charts and reading articles. Now..................out of the clear blue sky I have this urge to get into law enforcement to be around people. WTH!!!??? Yeah, Im burned out from being alone in my apt all day and night weekdays. But if I give up trading id regret it the rest of my life. what do I do?
Any comments from anyone would be appreciated.
ps-I also see the short term pip range and daily volatility in many markets has dried up. We are all chasing the same nickel now it seems. I bet more pro traders went back to their "real" job this year than any other since the naz meltdown of 2001. Who...after all is making money anymore.? Why do you think we see sooooo many trading systems being sold today. Those are the once profitable guys that are now stuck with a system that cant pay the bills. Any ideas?