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thesniper
 

Registered: Aug 2007
Posts: 72

 

05-13-11 03:30 AM

The first 2 years were unprofitable the last 3 years were profitable but I'm stuck in an 18 month long drawdown. I'm just too demoralized and tired of the stress to continue.
The money I can easily make back but all the time wasted impulsively gambling and all the life wasted from the stress - that I will never regain. No regrets, however - I learned lots about myself and the market. And fortunately, I have more than enough money to make it as a swing trader and investor so I will try that path the reminder of the year.

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Roark
 

Registered: Jul 2010
Posts: 738

 

05-13-11 03:47 AM

I understand. You've lost your motivation and have become demoralized. Maybe this article in the Atlantic will help you to get some of your motivation back. It's entitled "On the Floor Laughing: Traders Are Having a New Kind of Fun".

I need to find out why, of all the fledgling professionals I know, [my roommate] seems to be the only one genuinely delighted to go into the office every day....

They look less like they're working -- reading e-mails, say, or putting together a slide deck -- than calmly responding to a crisis... It's like a mission control center.

The upshot is that there is a lot of energy on a trading floor. Go to a law firm, Silicon Valley startup, magazine, or corporate headquarters. Even if what they do there shakes the world, even if the staff practically sneezes vibrant creativity, still you can't escape that Office-y undercurrent, the unmistakable intimation of malaise you find wherever adults are stuck inside doing their homework. This place, on the other hand, feels like something closer to an active battleship.


Sounds pretty exciting, doesn't it?

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spd
 

Registered: Dec 2008
Posts: 1158

 

05-13-11 03:48 AM

Good luck with your new direction buddy

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Ripley
 

Registered: Aug 2004
Posts: 2063

 

05-13-11 04:02 AM


Quote from thesniper:

I have more than enough money to make it as a swing trader and investor so I will try that path the reminder of the year.



Good luck & Never give up !!!

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thesniper
 

Registered: Aug 2007
Posts: 72

 

05-13-11 04:04 AM

I have absolutely zero interest in regaining my motivation to daytrade. I thank God for my protracted drawdown because this is exactly what I needed to quit and to get on the path of true success in this business: managing risk as a portfolio manager.

Here are all the insane huge macro moves I missed the past decade because of being focused on DT:
2001-2003 one of the largest bear markets in history
2003-2008 one of the longest bull markets in history
2001-2011 the most insane bull run in commodities
2008-2009 the most insane volatility ever
Huge moves in FX, dollar getting crushed against all currencies
Huge moves in lots of stocks every year: AAPL, AMZN, GOOG, TZOO, LEH, BP, LULU, NFLX, and way too many stocks to list.

If I were to ride any one of the above multi-year macro trends I'd would have made as much as I did DT with like 1/1000th the effort and 10 times more free time to enjoy life.

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Ripley
 

Registered: Aug 2004
Posts: 2063

 

05-13-11 04:18 AM


Quote from bearlion:

My sincere suggestion is that when the future in uncertain, go for daily trading only and book your profits everyday or every week in stock markets. Do not invest for long term.

Let the owners of giant companies invest their personal money in their company stocks for long term. Example, Bill Gates should sell his assets worth $40 Billion and invest this $40 billion in Microsoft for long term.

Other investors should book their profits every few days.

I book my profits every 2 days or every week. No long term investments. I have sold all my gold and silver.



UNCERTAINTY creates opportunities. You must learn have to harvest the fears.

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