You've got yourself completely f**ked up the butt from a trading life that is not for you. Relax. Take it easy. Check if you have any arms or legs missing. Yup, all intact. OK, nothing is seriously wrong. Here comes your biggest opportunity ever. Rethink your whole life. Take a break. Go do a humdrum job somewhere else in the country until you work out a new compass for yourself.
Dude, dont sweat it too much.. Having a degree is huge. Get in with a decent firm somewhere , work really hard, network, and you will catch up to your buddies in no time.
trading is not for everybody and most small businesses fail. not just trading i had my down period, and i worked through it. most don't. that's true of all businesses. don't sweat it also, trading rewards the persistent, but not the stubborn, if u know what i mean
You're 30. I've got shoes that are 30. Christ, you sound like you stepped on landmine. Get on with it. Make yourself happy. You've got time. I met a guy a few weeks ago. He's 25 and in the Air Force. He's a forward air controller. He calls in ordinance on the enemy from close and in. He can't get out because he keeps getting extended. Already three tours, and he's going back again. He's in the Air Force and he's getting shot at. You know how hard that is to do for enlisted guys.? He's going back to school, no regrets. The world won't end tomorrow. Well, maybe it will, but you can't help that. Go find something that you like to do. You'll know it's good if you wake up and look forward to going there. If you don't, quit and do something else. You'll be just fine. You know, I do have shoes that are 30. My combat boots are 35. Hope I don't have to use them, but you never know with all the shit going on.
Cause it very nearly is for most. I'd be easily proven wrong if anybody could give proof of someone starting from very little (say their own stake, 20g or so) and making a good living, after taxes and fees, trading, self taught totally, for longer than maybe 3 years in a different market environments. Not saying it can't be done, hell, there's always somebody but without being mentored I think it's extremely hard to realize what this game is all about. To the original poster: For the past few months I've been making an honest go at career trading. I have backers, former floor traders who made the transition, who are teaching their edge. Even with this HUGE leg up, the market is constantly changing and nothing is a guarentee. I wouldn't recomment anybody try this for a living without having a major edge over other's doing it. And by major edge I don't mean 5 g's to spare or really good at recognizing chart patterns, etc. Trading for a living is a fucking war everyday, and very few are cut out for it.
There will always be an outlier. I have worked on several large trading desks and have never met someone who daytraded from a screen successfully for a living. However, if you happen to have an edge in scalping, PM me and I will automate it for you.
What type of trading did you do? Scalping, swing trading, position trading? What market did you trade (equities, futures, forex)? How did you trade (automated, system, discretionary)? Did your systems fail and you couldn't adapt, or what? I'm just curious as to why you failed, you say you did, but I'm more interested in why traders fail. If you could honestly explain why you have felt you failed at trading, it would be a big help to those of us that are trying to get into this game, the newbies, and I study people that have failed in this game to try and learn from them. So any and all information is greatly appreciated, and your honesty is very much appreciated as well, takes guts to admit to failure. Maybe we can figure out why you failed... I know you say you didn't feel trading is what you wanted to do in life, that you didn't feel like you wanted to a few years ago.... is that because you weren't making any money back then. A lot of people are in this game to make money, and there is nothing wrong with that, but you said you didn't see trading as what you really wanted to do. Is that because money wasn't coming, or because you really just felt you wanted to do something else? Also, how much money did you start with when you started trading, and how much are you left with now *if you don't mind disclosing that*. Again, just wanted to find out why this happened and learn from it, because I am only 19, and try to learn from others so I can prepare myself and have backup plans. So, like I said... everything is appreciated. Thanks. EDIT: "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." I actually just read that. You say it doesn't matter what style you picked. You said you tried lots of different things........ so why did you fail. Were you not psychologically ready for the game? Did you not try a system that you feel you could handle? What did you lose the most money trading? All this could help us help you, and also help us to help ourselves.
Yeah, it's not the end of the world. I'm sorry if my personal state of reality has depressed some of you guys. I think we can all pick ourselves up from a down week. Or a down month. Or perhaps even consecuvtive months. But I just feel it's hard to continue when I've been doing this for so long, yet I still have so little to show for it. Maybe I should be optimistic I was able to survive in this difficult game for five years, but the music has finally stopped for me, and there's no more chair to sit on. I had a lot more patience at 26 or 27, and I definitely used to have a lot more positive energy, but as I'm getting older and closing in on 30, it's just really hard to not question what the hell am I really doing with my life. I denied admitting that I was becoming a statistical victim for so long, but that's just evading reality. Age is just a relative number, but time lost cannot be recuperated. I just feel emotionaly beat down because I really do feel like I have wasted a lot of time. There are kids who I used to tutor in school who just finished their MBAs and are about to advance their careers. I can't help but feel a little left behind because I don't know what I really accomplished during all this time. And it's also hard because trading WAS my life. It was my dream and hope, probably no different from the dreams of actors hoping to land it big in Hollywood or NBDL players waiting to get a call from the NBA. But when it doesn't materialize, there's a natural sense of defeat even if 95% do probabilistically fail in this arena. But thanks to most of you for reminding me to maintain a healthier perspective about this.
Even though you feel as if you should give up. In trading........ you never have to really give up. You can go get a job, and get back in the game. If you really do love this game, there is always something different you can try. I know you said you had done this in 5 years. So i'm just going to assume you never did any position trading in a few equities (Google for example)? Do you feel if you had prepared better, employed more different strategies, that things could be different? I'm just interested in why you feel you have failed. Also.... What do you feel you should/could/would have done different in trading if you could start all over at 25? Why is the main reason you feel that you have failed *beyond not making money*? What was the market you felt you did your best in? What was the market you felt you really lost it in? What strategy did you have better success with and which strategy did you feel you lost it all with? Do you feel like you managed your moeny correct? What do you think you could have done differently to have been successful? Just trying to learn. EDIT: Sorry if it sounds like i'm questioning you to death, but, I think a lot of people can learn from your experience, and you could prevent it from happening to others that might not have another chance, or that ruin their lives... My sister is 28, and she is going to nursing school to be a nurse, she has a husband, but .... it is not too late. It is never too late to change yourself.
hi, this is clearly very sad to hear. but im thinkin this doesn't have much anything to do with your life at all. you sound very lonely. why did u get into trading in the first place? you know trading attracts some lonely personalities generally.. and the life-style doesn't suit everyone, no matter how good they may be - unless we have 'a life' too. there could be many things for why this has happend and u probably know better than I. but this is how i see life: if you got the passion > u never give up > thus u learn from mistakes > u change > u succeed, and manage it. so the only reason i think this has happend is not related to trading at all. maybe u need to chill with friends more. date out more. take a break go traveling a little. u know, one can do anything in life and get exhausted under some conditions. obviously you making bad trades made it worse. but i don't think u cared at this point any longer. u seem over-all depressed. you compare urself to ur friends, others and life as a whole. u really need to think what the main problem is. i tel if i gave u a million dollar right now, i doubt it would make u feel 100% different. i think you're generally not happy with your life - and trading is the worste thing u can do with such atmosphere.. i think everyone here cares for you, and some of us can't believe how this has happend if you truly loved it like u say. i personally think there is a external factor involved here that you haven't shared with us. i recently saw an interview with world poker champion, and they asked him what made him so good - and he answered nothing at the playing table, tricks or anything.. its what he did away from it with his friends, family and loved ones. at this moment in time, i'd personally advise u not to even think about a next job. before anything, take a break - if u cant afford it. go back home with family if u're alone. see some good friends. spend some time finding urself again. then decide. good luck later on with whatever u decide. you'll just fine. trust me.