For what it is worth, I post this to help you. Yours does not seem troll-bait. First, this bit... Jesus man. That is bad. Stealing from your mom's IRA? Dude! You need to recheck your moral compass. And then there is this bit... No, it seems your biggest risk is your weakness as an excessive trader. And there is also this... Having to slog through a "real job" might just be the kick in the pants you need to truly appreciate what you have, and what you would have to do if you wished to have it again were you to start from scratch. If you really do not know what it means to have a "real job", go ahead and apply for one. Go through the process for applying to a job. Pick one, any one. Type up a resume', submit it with your job app, and watch the system at work. You'd be amazed at how it all ties together these days. For that I try to keep things in perspective, and it is tough. You semi-retired at 23 with $400K (of which at least $30K you owe your mom, so let's call it $350K after interest on your mom's loan), then at 26 tried again and "blew up". I dunno' what size account you blew up, but I hope it is within reason and not a true blow-out. I have been fortunate enough to have taken only major losses from previous profits. I gave back some of what I have made, but have not "blown out" an account. I am still in profit from the start of the endeavor, but have taken major steps back and am back to digging up from where I am in my current hole to where I was comfortable before the hole. It is not a soft and comfortable ride up that path...It is rough-and-tumble. It is a lot of music you would not understand. It is many things... You? You had $400,000. Do you have any concept of how much money that is? Can you truly fathom it? $400,000. Let that sink in for a minute, Mr. niko. $400,000. Has it sunk in yet? I didn't think so. Go ahead, keep thinking about it. Keep thinking about it. Go on, keep thinking about it. $400,000 23 years old with $400,000. Think McFly.
"Surrender to the process not the end goal. Never fear the great lows in pursuit of the great highs." - Adam Seltzner Ph.D. "Failure is success in progress" - Albert Einstein
You don't need trading to succeed in life. There are many other ways, much easier than trading. Most billionaires and millionaires failed many times before they found success e.g. Sam Walton, Walt Disney... Mike Bloomberg got laid off from a company he worked for couple years when he was young. He was trying to get a job, but no one hired him. He got so desperated. He created his own news media company. This guy graduated from college couple years ago. He was in debt for $54,000. He was very desperate to find a job also, but no ones hired him. He created his company sell things on eBay. He understands the concept of compound. He grew his company from nothing couple years ago to a company generated $2.5 million dollars revenue last year. I think he will make $3,000,0000 this year. It is hard work, but it is all worth it. He bought a house for his mother few years ago.
"the story of my life" by Niko not a single word of which i believe u know why? because people who has the character to do what you described above do not come to cry at forum
If you had 400k at 23 y/o consider not trading, working for 10 years and then enjoy life. my dad used to tell me "you can only eat so many steaks". This coming from a successful CME/CBOT trader.
You original post is a bit lacking in details. What were you trading in January that caused you to blow up? Cryptos?
You need to work on your psychology. You are over reacting to a loss by trying to make it back by increasing your risk on the next trade. I do it too and i've done stupid things like increase my position 10x (!) on the next trade after a loss (yeah, that was a loss too). There's no way to deal with this apart from conditioning yourself (use pain/pleasure mental imagery) not to do it.
There is a very easy way to make sure you don't overtrade. Only set aside the amount of capital that allows you to trade exactly what you want to trade when you are not overtrading in a CASH account and no more so you can't get extra money to overtrade, i.e. you are only supposed to trade $5000 in total given the price of the security that you want to trade, only put $5000 in a CASH account for you to trade. That way, it forces you to trade only within limits and reduces your chance of overtrading because you can't trade what you don't have and then slowly increase your account size. Once your account has increased, withdraw all the excess profit until there is only $5K left in your account and repeat. Good luck!