I just can't do anything right . My brain's melted like a slice of cheese - I see what I gotta do and still do it wrong, I lose money every day and I don't even care. I've got 300 dollars left till I'll stop trading forever. It's not like I blew all the money I had - I've got enough to live without working for about 20 years and I'm still up money since I started. All what left from my discipline - is that mental stop which is 300 dollars away. It's very sad - I don't know what I'm going to do after those 3 years of trading -they were my best time of my life. I'm destroyed and devastated. I'll give myself last chance to come back tomorrow. I'll be trading last hour only, I think. Ah, fuck it. I never tryied to make just 200-300 or whatever a day - I just want it all and I finally going to pay for my greed. See what can happen. Don't be like me. Stick to your rules no matter what. Sorry, I'm drunk now. Hope you get what I'm saying.
You are correct, you can't do anything right. You're using alcohol. THAT's the PROBLEM. NOW, I want you to RUSH out and get a COCAINE problem. There, feel better?
"I'm still up money since I started. " if you are still a little ahead of the game ... then thats alot better than the buy and hold crowd in the last 3 years ...
Oh Man, You are really devastated. I`ve had similar problem few years ago. I gave up of trading and promised to myself never touch this back again. Once I dropped, whole thing I started getting better (mentally). After some time I had perfectly clear image what was wrong. Since then I respect very much psychological side of trading, more then ever. My advise is: stop it now. Give yourself a lot of time. Once You feel You are strong back again, then You will now what to do anyway. And then: maybe, welcome back on the board ?
What happened here is the alcohol you constantly imbibe melted your brain to a cheese-like consistency. It shows how serious you are, asking for advice in that state. Than why are you trading? For fun? For the thrill? This is not a video game. Maybe extreme sports is more your thing. Some of us actually do this for a living!
Dear Swifttrader, Gambling your last $300 away is just like saying, here it is take it away I'm no good. prove it to me one more time. What makes you think that this last trade will be any different than the others if you don't STOP NOW and re-asses exactly what you want out of trading. One of the problem with beginnig traders is they all want to start daytrading the SP. Well in 99% of the time it is THE worst place to start. I don't know if this is what you do but I would bet a big one on this that it is. It is THE MOST difficult market to play to win. I agree completly with ChrisM. Stop right now and rebuild yourself to understand what you REALLY want to do. Maybe the time frame you are trying to trade does not fit you at all. I would also agree completly with born2trade -Than why are you trading? For fun? For the thrill? This is not a video game. Maybe extreme sports is more your thing. Some of us actually do this for a living- Trading is a very serious endeavor. If you just do it for fun or for the thrill then WE WILL keep on eating you alive until you have nothing left or understood the true nature of trading. I will refrain form passing judgemt, and I think those passing them should be very careful. I am pretty sure that 99% of us here were at one time on that line seperating success and giving-up (joy and despair). I agree that alchool is not the answer, maybe it was only a 1 night affair to kill your pain even though it wil not solve anything. Indeed you only know if this is a serious problem for you or not. Now wake up, stand up, be a man and take responsabilty for your results. If you REALLY want to SUCCEED *AND* have fun then seek help to educate yourself properly in the art of trading. You have the money so you have ZERO excuses not too.. I do not feel sorry for you neither should you. Take the TASC/Futures magazines and start looking for a coach that can guide you in your endeavor. Search, phone talk to people, try them see what fits you. There ARE good people out there that can help and speed up your process. One final word. Greed is what seperate misery form success. And BTW 3 years is nothing in trading. If you ended at breakeven then consider yourself lucky that your tuition has only cost you time. ZT
I can understand the depression your going through, because I had the same result as you. When I started, I blew 30k on the nasdaq market. That put me in such a depression that I hardly left my house, did not wanted to talk to any of my friends and just shell up feeling sorry for myself. But as with all things time heals all wounds, and eventually I got a job, got some capital back and felt strong enough and ready to give it a second try at trading. I decided to trade the futures instead, but this time things will change. I papertraded for 6 months, got down a system that will consistently work, and most importantly just understood what trading is about and what it is not about. Trading is about the psychology of the market, and not about the technical analysts that I so heavily depended on the past. Understand how the market thinks and you will understand how to trade. So my advice for you so to quit now, take a step back away from trading, endeavor to do other things and let it all sink in. In time you may try trading again like I did, and hopefully have good results. Just dont forget living life is more important then making money.
It sounds like this guy just has too much money in the bank. No matter how big your account is, it is nearly impossible for the average trader to make more than $1k per day. If I had $2-3M in the bank, only making $1k would bore me. I would push for more, and probably lose money. I think that's what is happening here. If this guy would aim for $500/day and quit once he hit that mark I bet he could make money.
Have you tried electro-shock treatment for those bad habits? If you widen your stops---BZZZZ, 1000 volts (low amperage) into the groin area. Take profits too soon---BZZZZZ, 800 volts into the temple area. Try it it it it it works.