People told me I needed a plan, so I made a trading plan. But I changed my plan hundreds of times literally, because I changed it every day after a losing or winning day, and I have traded actively, part-time, for one year since May 2007. People told me I needed to follow the plan, so I put the plan between the monitor and me, and I stared at the plan every minute. But I just couldn't follow the plan. As soon as I entered a trade, I forgot the plan, ignored the plan, and started to do whatever I was led to do. So I have decided that trading is not for me. I quit! I will not trade anymore! I don't want to spend several more years doing this (I heard it needs 5 years, too long for me). Any comment is welcome.
My plan went from vague to specific to vague to half-vague/half-specific to really specific to maybe-vague-is-better to specific to vague to...... Yes, I am walking a circle.
If you quit now, you are smarter than 99% people, as people say 99% will lose money. That sounds pretty good if you don't plan to be the 1%.
Dude, don't do it to yourself. It takes time to learn this thing, there's nothing you can do about it. Putting too much pressure on yourself at the beginning only makes it worse. You don't have to do it full time ...
If you need to make a living then by all means do what you have to do in order to survive/take care of your family. Trade, trade, trade, a simulator as often as you can. Stare. stare, stare, at chart formations and how price moves around diff. levels at diff. times of the day etc. If you just don't like it, then by all means do what you love. Thats the key.' Over and out. Oh BTW, if u have any money left we are going to be having a card game (poker) soon in Chicago if you're feeling lucky.
I have to say that among all the things I have tried, trading is the most difficult. For several times, I thought I got it, but then I made some horrible mistakes that reminded me that I don't know what I am doing. One year is all I can afford to waste. 5 years? No way.
plans mean jackshit when you have no edge equivalent of trying to sell 1 pencil on the streets for $2.50 because you bought it for $2.45 Plan all you want, wake up earlier, only sell to middle aged men who looks pencilless, but only after they eat dinner, but not before, because they are grumpy. Who's going to buy it from you? Plan all you want, Useless without an undisputed "edge"