I walked away from trading with nothing after more than five years.

Discussion in 'Trading' started by GeorgyHoldsworth, Jan 17, 2018.

  1. Hey, I used to be on this forum and traded the market, full time, from one massive peak (2008) in Energy till another (a few years back).

    I traded with Oanda, IB and, later, a Chicago futures firm...

    Sure I had all the hardware, software and knowledge about contango, findangdo and fupwhipfah; but despite heavily investing in trying to earn a living trading I walked away with nothing.

    Here's what I learnt:

    1. The past cannot be used to forecast the future.
    Trying to do so is a form of "divination".

    2. I never had enough cash to be a capitalist.
    If, for example, I bought McDonald's Corporation stock;
    To purchase an annual income yield of $40k I'd need to buy $1.7m of stock.

    3. If I even had $40k now then I'd buy a pick-up truck, some garden tools, print my name on some leaflets and put them in letter boxes myself.
    Why? because then I'd be investing in myself... and I'd be a capitalist who truly owned the assets which yield profit.

    4. In relation to the above; women actually prefer regular men with work-stained clothes over screen addicts with big bank balances. It's in their nature.
  2. NeoTrader


    Then what are you doing here? Just curious...
  3. Pekelo


    You must have been studying at the School of Randomness. Sure, not everything and not all the time, but lots of things lots of times can be forecasted with high accuracy. Just read my predictions in the Bitcoin price thread if you don't believe me.

    If markets were completely random, well this notion doesn't even deserve an argument.
    ET180, TradeViper, VPhantom and 2 others like this.
  4. SFG


    It sounds that you did not follow the risk management at all.
    Muffhands likes this.
  5. Au contraire.... Women, given the choice, prefer "big bank balances" over virtually EVERYTHING else.
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  6. tomorton


    The lessons I would take (all due respect to you and I regret you've had to walk away from this field) are -

    1. trading full-time is extraordinarily difficult and the probabilities of success too low to make the effort worthwhile

    2. you should have better success with women.
  7. TrollOmatic
  8. DaveV


    The past cannot be used to forecast the future, but it sure can give you hints as to what is most likely to happen. Long term, the profitable traders are those that consistently make trades when the odds are in their favor. The unprofitable traders are those that make trades randomly, by gut-feel, FOMO (Fear Or Missing Out), listening to so-called gurus, or any of the other myriad ways where the odds are not in their favor.
  9. Sounds like a suicide note, o_O

    Joking aside,
    you have to structure your trading game and mindset and loose overall strategy akin to war....and Winning the war.
    If you walk into the Market Casino with a gambling mindset and no real, true trading arsenal in your head and mind and spirit...you will definitely lose.

    Trading is kind of incredibly complex to explain and grasp...without really giving anything away.
    You need a dynamic variable, rubberband mind...with conviction of a pillar column that's not cemented or rocked yet.

    You don't need many millions in your trading account to generate $40K a year.
    If you need that much money to generate 40K a year...you're a rather horrible and/or a very conservative trader.

    After reading one too many sad stories like yours...I have decided to create my own Trading Academy website to help and welcome in all the lost wandering desert Moses souls out there.
    I will launch it in the second half of this year. All ET members have free membership in exchange for positive testimonials and a photo of your face.

    Make Trading Reborn Again 2018...High-Five` :cool: Learn to open your eyes to See the Divine Trader Light
    I want all of you to become Rising Star traders. Sweet and Sour Bobby, Vanz, Pekelo, expiated, SimpleLikeMe, Johnny Rock, Rin4et and Karen the SuperTrader could use my collective wisdom.

    I average XX% returns every business trading day. How many people can claim that.
    Most would kill for just 00.60%
    Last edited: Jan 17, 2018
  10. Visaria


    You may not have found the secret to riches, but you have found the secret to a woman's heart!
    Work stained clothes! Who woulda thought it! @Xela, your secret is out!

    I'm just going to piss on my clothes and then off to the nearest night club!
    #10     Jan 17, 2018
    trendo, samuel11, ElCubano and 2 others like this.