Ever feel like giving up?

Discussion in 'Psychology' started by John9999, Feb 22, 2018.

  1. A couple buildings in NYC only takes in $90K/month...I thought it would be slightly bigger.
    It's NYC, supply is in short...supply. And demand will always be huge.

    I've always been curious about real estate development.
    Seems kind of fun and easy... design and build and manage it once...then sit back, and collect the residual income.

    I like liquidity though. Real estate is dinosaurs...not liquid at all.
    Assuming those two buildings are worth three million...then that 90K...is only 3%/month...I make much more than that.
    If those buildings are worth four million...then that 90K is only 2.25% return per month.
    If those buildings are worth five million...then that 90K is only a 1.8% return/month.

    Real estate is kind of like the fast food, restaurant industry...profit margins are relatively small.

    I've been watching alot of various city videos on YouTube lately.
    , o_O
     
    Last edited: Feb 23, 2018
    #41     Feb 23, 2018
  2. Trading is easy!
    Playing a guitar is easy!
    Flying a drone is easy!
    Painting an oil painting is easy!
    ....to those who have practiced, have the right equipment and dedicated to mastering what they set out to do.
    With all challenges, the biggest challenge is yourself, are you up to it?
     
    #42     Feb 24, 2018
    rin4et and Sprout like this.
  3. TDMA

    TDMA

    The key to making money is very simple, the less humanity you have the more you make. There are small windows where you can keep your humanity and make excess profits, the capital trades, the income trades are purely you fighting the next in the line by whatever means neceasary, this makes up over 99% today.

    That is the feeling you will have, however today everyone is taking everyone else out to save themselves because they are too indebted, no method is left unconsidered. This means your window of opportunity is so small, needs to be leveraged up, and needs be perfect in entry.

    Even then you will be lucky to get 50/50, at which point it will become clear that there are better things to do with your time. Is it impossible, no, but the barrier to entry rewards those with the least morality.

    Myself, I take the small windows, try and help those being taken out by those without humanity, and severely punish any that try and take me out, simply because I can to completion and they started it.

    It is a known fact that the first to fire usually loses, always make sure that's not you, but when you respond do it with confidence and conviction, you may lose the battle but you will win the war. Money is the epicentre of this process.
     
    #43     Feb 24, 2018
  4. Turveyd

    Turveyd

    Full time, puts too much pressure on you to make $$$$'s so you take impatient trades you shouldnt take, you start worrying about not making enough, rather than not losing and bang goes the account every time for me.
     
    #44     Feb 24, 2018
  5. JSOP

    JSOP

    1. Stop a while. Go back check your trades, retrace your steps and figure out what caused the losses and rework your strategy.

    2. Keep going until you make money again and you WILL go back to making money like before. Meanwhile get a 2nd job to finance your trading while you are making back the losses.

    3. If you REALLY feel like giving up, that's Ok too. Take a break, get an easy job, see the world a bit. And go back to trading when you feel ready. Remember trading is something that you can ALWAYS go back to no matter when.

    Your health both physical and mental is most important.
     
    #45     Feb 24, 2018
    aquarian1 likes this.
  6. rvince99

    rvince99

    Like the man at the rail by the wire said to me, "If the best horse always won, this shit would be easy."
     
    #46     Feb 24, 2018
  7. Hi John,

    Gann suggests that when you have a losing streak stop trading and review your analysis for where you are/were wrong. Gann however recommended a long period of study before one ever starts trading. He had many rules and he wouldn't trade until all of his rules were met.

    (This is for general trading and his books - most trading he spoke of in this arena was stocks.)

    Day trading futures is hard and anyone who has a calculator and a few minutes can tell you why.

    You may or may not be aware of how to calculate your R, the risk unit. If not you should learn it and once you re-start - if you do - make sure you don't exceed it.

    ------I think this video covers it -at min 18--

    What it takes to be a Profitable trader Part 1


    Entire list is here:
    https://www.elitetrader.com/et/thre...even-live-here-es.286201/page-29#post-4612509
     
    Last edited: Feb 24, 2018
    #47     Feb 24, 2018
  8. Jones75

    Jones75

    Keep it simple. I used to be all over the place and went through gobs of money. Very depressing.
    And now that's where the "keep it simple" comes in, one, or two max, dynamic equities at a time. Run up and down with them. You will make money. Stay disciplined, wait for your price, and ignore the noise.
    * I'm assuming you know what you're doing.
     
    #48     Feb 25, 2018

  9. Stop trading the day market. I'm serious - it's a snakepit of insider market movers, which is why it's like a freakin casino. 96% of day traders don't ultimately fail for nothing - for all the 'experts' professing that the financial markets aren't rigged, in reality they are. Which is why the institutional, exchange and brokerage traders take it away from the 'small, undercapitalized outsiders' most of the time. The after hours market participants pretty much exclude the (U.S. at least) large institutional program traders so is somewhat easier to extract consistent profit without having to face the big market pushers.

    I'm talking index futures here e.g. the Dow emini futures (YM) which I trade exclusively, and only after-hours. I haven't been doing it long, but so far it has been good to me. I also have recently started a business issuing trade alerts for the overnight YM movement. Particularly for someone like yourself who might need a 'change of scenery' for a while to recover from the frustration and burnout you can experience from wrestling with the day session insider shenanigans. Look over my web site and see if it would be something you'd be interested in trying out for a month.

    W. Mario Cavanaugh
    The Nightraider Project
    www.emininighttrading.com
     
    #49     Feb 26, 2018
  10. Visaria

    Visaria

    I believe this makes you a VENDOR.
     
    #50     Feb 26, 2018
    ironchef likes this.