I'm sure 95% of you don't want to read this post because you're all still chasing your dreams and don't want to be reminded on how tough of a game trading is, but this is my reality. I've been trading since 2001, and I feel like I've been living in a bubble world all throughout this time. Like everyone, I had big dreams in the beginning, and I thought trading was the avenue to help me get there. But eventually, my big dreams transformed into merely just fantasies of decent living. When even those delusions didn't materialize, my aim was just going for basic survival. I've been living off reserves for awhile, but they're running out, and it's just time to move on. So my decision to hang it up was not an overnight decision. I did try and give in my effort, but it just wasn't working out. If I don't quit now but continue to achieve the same unproductive results, then I'm just continuing the denial. I'll be 30 soon, and I feel I've aged so much in these last five years. And what's really sad is that I have grinded it out but have really nothing to show for it. Right now, I don't really know what to do or how to even get a job. I have a econ degree, but I haven't had a real job in five years, and I don't even know how to put that down. While most of my friends are already at or near the manegerial stages, I'm about to write resumes to compete for jobs against recent college graduates. It's going to be an extremely humbling experience, but I don't really know what to do.
Sad story but don't feel too bad, many before you have blazed the trail including some of the greatest traders of their time. Keep a close watch on the markets while your on temporary leave and if they heat up agian then concider jumping back in. I highly doubt the markets will do anything for the next 6 years or even longer. Range, range range!!!!! You won't be missing much.
Thank you, but I feel like I'm really done. I actually lost the passion for trading awhile ago. I just clinged onto it because I thought I could still grind it out a little longer, but unfortunately, even that isn't an option anymore. Five years is a long time, but it went by so fast. Now I'm closing in 30 and have to basically start from scratch again. I think this is the heaviest "stop-loss"of my life. And I doubt I'll re-enter trading again. If you're trading for fun or as a little hobby, it's one thing. But when you're trading to survive, the stressload and pressure are just too much.
I had a different job before I jumped into trading. But I think a five-year gap is pretty hard to convince employers that I am still qualified... I don't know. TJ, I traded a lot of things and employed many methods, but it doesn't really matter anymore because I have already conceded defeat. The passion was gone when reality hit in that perhaps I may just never become part of that successful 5% crowd in trading.
Too bad you didn't use your money to start buying gold futures (or any other metal/energy) in 2001 and average down during pull backs. You could be a well off man by now, also could have worked at the same time.
You could try becoming a professional poker player. In poker you are at least guaranteed to win if you play mathematically correct over a long period of time. It uses many of the same skills that trading does. The lifestyle would be very similiar to trading if you do it online a lot.
After five years of trading, I think I'm going to switch to something more stable. I think it'd be good to finaly know exactly how much I'd be making at the end of each month for a change, even if it may be modest. At least it'll never be even nor negative!