Advice needed

Discussion in 'Psychology' started by Mo06, Mar 6, 2009.

  1. Mo06


    OK, I've been trading for a few years, I was profitable, trading first stocks and then index futures.

    Anyway, I had a major drawdown in 2007, another in 2008, and it has really knocked my confidence, I am determined to get back to trading profitably, but I am at the point at which I am questioning the feasibility of continuing.

    I really don't have many options, as I have more or less made myself unemployable, being out of my former field (Banking IT) for a lengthy period.

    How can I get back into the trading groove ?

  2. Get yourself a job first to pay the bills. Otherwise you'll have too much pressure on yourself to produce.

    Simplify your trading strategy. Simple truly is better.

    Know how much money you need to trade your strategy and don't commend trading until you have enough capital. Otherwise you are throwing away money.

    As a trader myself for the last 15 years, I can tell you when you are about ready to throw in the towel, you're probably about halfway to becoming a pro trader. You've got to fight through it and trade small until you have a good feel for things.

    I could go on and on.
  3. You can't. Quit.
    Find something you can do.
  4. bespoke


    I think you have to ask yourself this question. Are you just another bull market hero?