All good advice re vacations, exercise, etc, but that's not going to teach him to trade. He's losing money, fearful, and w/ out much income (assuming). Get a job or business, generate some income and start feeling good about yourself. The markets will always be here. Most people trade better when there isn't pressure to trade. Being patient is one of the most important factors, so the pressure to generate income doesn't mix well.
You are rapidly losing all credibility with me... You seem to know very little about real life. Most people here are degenerate gamblers talking big. Even "traders" eking out making 10-20K/year... Are classified by sociologists as "subsistence level gamblers". Oh and btw... Women can weed out a degenerate "day trader" in about 60 seconds.
Why did you pick that quote to say that nyscalper knows very little about real life? Seems a little off his topic as he was talking about his trading, not real life. Then you go completely off topic again talking about gambling, while nyscalper made no mention of scalping in his post. Anyway, I'm sure he could care less about how much "credibility" he has lost with you on an anonymous internet board.
No....He did not lose everything. He still has $60,000.00 plus he spent a lot. Very good for a $5000 initial investment.
Its not what you make trading for X years but what you KEEP when you move to income generating/ bonds or notes to live out the later years. You are a wise man to see that the desire was not there and decide to go on with something else that you will have passion about. I have been trading for 10 years and was a competent trader to make a living for the first 6 years, after learning for a year, and have spent the last 3 years moving from equities/options to futures as a trading tool and a marketplace to manage money and develop a ATS business. I just hated to get up and deal with specialist and my typical NYSE stock....so I moved on to this next stage and took the ideas and framework I had and tested and studied these future markets for 1.5 years before I understood the marketplace. It just takes time. Life is to short to not enjoy what you are doing.......You need to enjoy the daily grind or 9-5 things or life is not enjoyable....my opinion only but i think most will agree. Trade well to all.
Thanks to all of the replies. The well meaning and the occasional "dig" replies all had an element of truth. Believe me , my post was real. Especially helpful was Steve0617's reference to the Trader Feed blog by Steenbarger. I actually saw a little of myself myself in each of the trader categories. I may be more frustrated as opposed to addicted as pointed out by a poster as I don't drink, smoke,gamble (stock market?), never even been to Vegas, etc. Additionally, as pointed out by a few of the posters I did better in the earlier years as there was less "pressure" to earn an income as I was trading only part time. All of my losses were after I started trading full time. I have updated my resume this afternoon and will see what happens. I hated practicing law but after the losses I think it may be a fresh start and am actually looking forward to it. Good luck to all.
Why did the original poster who has never posted here decide to announce his intentions of quitting his profession in a public forum? Stand up in church and announce it. Not here.
Better yet, why would anyone quit a $1.4M potential? Obviously, the OP is a piker looking for internet love.
Something about the OP does not jell. Here is a snippet from his first post: I believe it is an addiction and am quitting while I still have at least 60K left Below is a line from his most recent post: I may be more frustrated as opposed to addicted as pointed out by a poster as I don't drink, smoke,gamble (stock market?), never even been to Vegas, etc. This guy is contradicting himself and has changed his mind about himself within the confines of this thread. He also points out that his problems started while he began trading full time. So are we to believe that he made all that money he claims he did by trading part time. Bogus stuff.
That is kinda my point. Not that he made/didn't make the cash, but that he could trade to begin with. He was more of an investor that made some good investments and when he tried to go full time (probably with spy, dia, es, etc) it tore him a new one b/c it wasn't the same roaring bull.