By the way, one final point to the OP. I've been a successful trader now for decades. I trade the ES. Once in a while I trade the NQ. I may have traded YM a couple of times. And I've never traded the ER2. I watch them all. I don't trade them other than the ES. I don't pick what I trade based only on volatility. I like to trade where the volume is. The volume is in the ES. Less slippage than something like the ER2. OldTrader
your in despair,pears aren't that great,try apples or bananas,swear off pears,it'll change every aspect of your life,i don't pray very often but when i'm full of des pears ,i pray and within 2 days ,i'm pear free
This is what's wrong with this site, we can't have a single somewhat intelligent discussion without some nonsense like this. I'm going to continue to re-iterate that you should stop trading. You don't seem to have the drive or willingness needed to succeed, you're hesitant to reply in a thread that you started which will determine your future. I'm sure others here can identify with this...there was a long period of time that i was totally consumed with trading, i would be thinking about it when i went to bed and then after I woke up in the morning. If if i had a lousy day before or having a lousy week, i was still always excited to jump out of bed and begin my morning routine - interested in what the market will bring. I'm not saying you need to be blindly passionate, but i'm seriously questioning your interest in this endeavor.
very well said, you are not the only one questioning Jasper6 the answers to my questions would have demonstrated exactly what this reply was getting at: 1) your commitment 2) your familiarity with the chosen vehicle that you say you trade 3) your awareness that its ending and changing exchanges 4) your awareness that the CME has begun a campaign to steer traders to their other products 5) your awareness that trading the ES has been more profitable for most traders on these threads and you would have gotten this from reading at least 2 or 4 other threads 6) your need to be singularly focused and determined instead of being so scattered. personally, this is a thread that seems worded by a schill or marketing person instead of a real person / trader seeking help
Let me be blunt because it seems that you need some hard talk to break you out of your tunnel vision, if you are still putting on live trades at this point you are a hopeless idiot. If you plan to put on a live trade anytime in the next couple of months you are a hopeless idiot (and anyone who encourages you to do so is a hopeless idiot too). If you are putting all your eggs in the trading basket at your age you are a gambler and a hopeless idiot. You say you are in your 50s, its really time to do some growing up and face reality. Do you have the stones for it?
this was an attempt to make light of something everyone takes 2 seriously,depression,jasper all kidding aside,if you r depressed it will affect your trading ,your outlook ,decision making,i doubt u traded 8 years without ever making money,just less than u would like,if depressed u skew the way u look at everything,my take is depression is your problem,not money,and if u fix that everything will improve,would be smart to stop trading til then,but if u have been at it for 8 years ,i doubt u are as clueless as you portray,i traded for 12 years and went into construction for 16,i always missed trading and am sorry i ever left, i'm very talented in carpentry and still think i could make more money trading,i have to relearn everything but i feel it's worth it,if u couldn't trade u would have been wiped out years ago,people that don't trade always see this profession as gambling,talk to other traders that know u and the business and they will give a straight answer as to gambling vs. trading,and i do pray when i get overwhelmed and always get an answer within 2 days,and if i'm overwhelmed and have no energy i take 1000 mg of ginseng with no negative side affects, so for all you naysayers out there,when you are down you don't go consoling in the most negative person u can find,he's already lopsided with negativity,your not helping,try positive reinforcement,don't throw a drowning man an anchor
After 8 years with no improvement in sight, it's pretty clear you just aren't suited to trading. IMO you need to cut your losses, put aside any regrets and find another line of work. Sorry if that isn't hopeful but IMO you should quit while you still have $75k left. Surely you can find a job you find at least tolerable for the next 14 years until you retire?
Mark Cook was a lot younger, and had had profitable runs. He just blew up twice due to insane risk taking. Once he matured and cut back the risk, he still had an edge. This guy is 51 years old and hasn't made a dime. He has no edge and probably has an addiction problem. For every Mark Cook there are 10,000 losers who end up retiring broke below the poverty line because of a crazy addiction to gambling in the markets. No different to the bums in Vegas.
Steve Jobs is an extremely bright guy who was a centimillionaire by 30 and had created a groundbreaking product that revolutionised a whole new industry. That's not the same as an average losing trader who has lost money for 8 years straight. If this guy had 4 good years and then a bad run for a year or two, I would say keep going. But he hasn't. He's got no edge, no hope, his family and his shrink think he's an addict. Even his goals are pathetic - $200 per day. He could earn that doing a real job. Then there's the opportunity costs of 8 years of lost income, to add to his market losses. Holding out false hope is just going to end with this guy being 65 without a dime to his name.