Padu took a 6 month break to clear his head after struggling for 25 odd years to be profitable. https://www.elitetrader.com/et/threads/trading-bar-by-bar-an-experiment.330879/ Came back 9 days ago to start above journal and attempt another approach at trading methodolgy. From the time Padu's been back from hols, he's posted 70 times. That would count as best in world would it not?
Among many other properties A keen appreciation of risk An inborn understanding and application of probabilities and expected values The ability to pull the trigger Patience to sit tight (most money is made sitting not doing things) A solid psychological composure The ability to suppress ego and the will to be right The ability to admit being wrong when proven wrong Acting on facts not feelings and hopes
I am sorry to hear that, it is a bastard of a game. tell us about your journey what did you trade, what was your style why are you quitting maybe we can help you sometimes all is needed is a little simple idea or add on anyway best of luck
Good luck! I wonder if you'll be back again, though. I started trying to trade about 14 years ago. Large chunks of that were full-time, 12-14 hours per day at the screen trying to make it work. Am yet to be consistently profitable. I've had spells, but overall i'm still a losing trader. I honestly wonder whether it's actually possible. For anyone! (every time I've found someone who appears to be profitable, they always turn out to be a scammer, or they end up losing it all, or they ARE profitable, but they seem to trade in a way that is completely alien to me. They certainly aren't looking at price bars and charts and indicators etc) I think i've 'quit' maybe 3 times. The last time lasted about 2 years. Back at it now trying to trade equities Anyway, Good luck in whatever you do!
Just before failure one wants to hold on. It’s the hardest decision an entrepreneur with his heart invested can make.
Short term trading is easy......... Find something, simple and repeatable and repeat until rich or crazy, the main issue is crazy generally kicks in due to boredom. Long term is the suckers bet, you'll have periods of doing great and periods of sucking, but it's the good periods which sucker you in and you forget the bad. Even if your really good long term, your never going to go from Poor to Rich, if your already Rich and want to be richer then fine Long term.
It took me around 8 years or so in total to be profitable (>20% annual return). I was trying to make a few hundred percent a year in the beginning, finding for the holy grail. I was naive. After so many years, I realised that there's probably no such a thing. If there is, my intelligence has yet to have captured it. I had an epiphany/enlightenment about the market and I am profitable since. With the revelation, I could create multiple strategies based on that fundamental understanding of the market and trading. Conclusively, never give up, need lots of luck to discover the fundamental truth to trading the market, requires intelligence, deep and consistent concentration, and objectivity (both mentally and in research areas).
maybe....maybe not but i have served my time and i am happy with my destination. the market keeps repeating.....it takes some time to see it in any case i trade for myself.... not for anyone else and i am here only to kill the boredom