I initially didn't want to pay for any and thought there wasn't a need. Man, this is hard but I'm going to keep at it
you started early... (Russian prison proverb: earlier in, earlier - out) you just - 22 you have a lot of time, and probably not a lot of baggage (wife , mistress, kids, mortgage, jobs... etc, etc) time is a most precious thing, especially in trading... you can not get more of it money will come time will not....
Yes, I don't have a lot of "baggage". Seems like a long journey a head of me? I thought coming up with a strategy and following it is enough, guess I gotta learn emotional control
So you know three people total. Two of them started out with 25 times more money than you did, but you're expecting to achieve a similar level of success? That's what we call unrealistic expectations. And when you have unrealistic expectations, you are setting yourself up for failure. The guy with $500 doesn't even count because you really don't even know him well since you don't even talk to him much. Your situation is pretty easy. At least you have a system and at least you've identified your problem. Your one and only task is creating and implementing the exact steps you are going to take to keep yourself from revenge trading. You'll probably lose the $150 before you get that skill mastered, but that's ok. You're still learning. Welcome to trading.
people (and you too) do not have problem with following the strategy , problem is with a strategy itself people abandon strategy since in their guts they do not believe in it and they are right in not believing in a strategy ... it was either developed by the wannabe trader himself (and he knows nothing, and he knows that he knows nothing) , or sold to him by some moron who knows nothing, or was explained in the book by some moron (who knows something, but not enough to make strategy work for him) so everything is ok with your emotions... work on strategy
T thanks a lot, I appreciate the replies. I will work on it, especially on psychology, I think that's where I'm lacking. And you made a very very good point, "Unrealistic Expectations." I need to get that making millions out of my head and focus on trading itself. Will work on that! Any advice? It seems I will take a long time to build up capital. But I've finally know one big problem with my expectations.
I think the kind Sir above said it very well, I had unrealistic expectations. My strategy is reversed engineered and I know it works, have been backtesting it with a lot of rules for the past few months of data. I need to work on not having million dollar cars/houses and those expectations that I can have it in a year lol. Any advice? I was dreaming too big I suppose
time is money.. so luck of the real money in your case can, for now, be compensated with abundance of time... keep trying... or not
Is this your brother? http://www.elitetrader.com/et/index.php?threads/carrers-pnl-the-journey-of-a-poor-trader.293360/ Two fake posters.