Nothing wrong with being a trader, be it full time or part time. The problem is when aspiring traders start buying the hype that you could become an overnight millionaire trading a $1,000 or even less account, imagining how they can spend their millions in their heads. Learn to be a good trader first, taking care of risk management and protecting your capital, no matter the amount. Self-discipline, traders need to learn, pick and choose the stocks you get into.
%% Good points; but sometimes it pays to trade/investors in cons like B Maddoff were better getting out early. I agree mostly but just because i have not made millions market making/specialists. [daytrading] does not mean no one should make markets/millions daytrading............................................................Wisdom is profitable to direct
If you have to keep yourself occupied to not make bad trades then you are not ready to be a full-time trader.
The problem is lack of discipline. You trade all the good setups and pass on the marginal ones. That dictates how much you trade. Not absolute number of trades. But if you lack the discipline, then by all means trade less. That will just mean a slower burn down.
I consider myself a full time trader. I fund my lifestyle by trading. I only spend at the most an hour a day trading. I'm a swing trader and I let the market take me in and out of trades. I've day traded and found I make about the same returns when I swing trade. In that respect I agree less is more.
Seems like you have suffered huge losses in forex. Is it so or any other reason for disliking trading buddy?
There is a simple rule of thumb: trade according to plan. And what should I do on days when I see a loss? I have a daily stop loss. I just stop trading. And the next day I start all over again. I just start the day over as if nothing happened yesterday. I have a plan, and I repeat it in cold blood every day, as if nothing had happened. If I lose several days in a row, I rest. And then I carry out my plan again, as if nothing had happened.