"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order to not lose money, you begin to learn what to do in order to win. You begin to learn! " Larry Livingston
a tuition into trading costs quite a bit more than 230 dollars on the NQ man, but keep it up. if you feel like you need a day off take it, the markets will always be there
You need to control you emotions. Quit now until you can. You are better off spending your time and money getting laid at your age, at least that should result in some gratification.
Well I have thought about it, if I don't make money tomorrow, then you know what? Just fuck it, why risk loosing even more of my hard earned minimum wage cash... and trust me I worked too many boring ass hours at the CVS to watch it all slip away. So, if tomorrow I can't make a net profit, I will close my account, and focus on what really matters. The markets will be here next summer, so I can just do it then. I really do need to focus on two things in my life: 1. School- very important to my future well being 2. Getting laid- fucking christ, 17 and haven't even done it yet... this will ALSO help my well being. Tomorrow, I'm expecting positive things. I think these two days have taught me something I could NEVER learn on paper, something I thought would never get to me: my emotions. Obviously I was wrong and therefore humbled. Tomorrow I my emotions will be under the best control I can use on them. Besides, you know what they say: third time's the charm!
Good to hear. Getting laid and trading are very similar. Calculating probabilities, limiting risk and control your emotions at all times.
Good luck tomorrow. Take that money, buy some books, study, and come up with more of a long term plan to get into trading. And seriously consider stock trading next time around, do some research in all the posibilities. Futures isn't necessarily the best way to get going.
Hey zdawg, just curious. Why'd you switch from YM to NQ? YM is somewhat kinder and gentler (if such a thing is possible in futures) than NQ. In fact it kind of begs the question: why trade futures at all? Why not start with day trading something super liquid like QQQQ? You can certainly control your risk a lot better by trading lots of 100 shares.
Very mature comments. Wise beyond 17 yrs imo. As mentioned you should consider the YM if you're gonna play futures. Also, most traders I've known have started by investing in stocks. Never stop learning about how the markets work.
Honest? Stop trading... 1) Buy books on trading and read everything you can. 2) Read about the different trading styles (intraday, intermediate, long term). 3) Read about the differences between trend-following versus counter-trend. What are the pros and cons? 4) Read about how CTAs have constructed their trading strategies/systems. 5) Read Van Tharp's position size trading and risk vs reward (google it). 6) Read about 1,001 different sexual positions. Figure out why the girl should be on top first when you're at a college party. 7) Trade using NinjaTrader and a simulated account until you can triple your simulated account. 8) When you can buy your own car with 100% cash from trading, then the chicks (and college cheerleaders) will come knocking. Then, and only then, will you get laid very nicely.