Discussion in 'Psychology' started by smallStops, Feb 19, 2015.
Sure. I still trade, but shifted priorities from day trading only to much more omnifarious life.
Are you looking for some validation/agreement for your decision of moving on?
My job and a "calling" so to say is find the truth, so I equally appreciate any opinion or information, critical included.
Ironically, everything I do outside of financial markets made me understand financial markets better than ever and the way everything works too. But even more ironically, seeing this similarity makes it obvious how hard can edges be to find in liquid financial instruments vs. some other instruments.
OK. Thank you for explaining.
If this is fine to post it here : what is your job ? what are your other activities outside trading?
When you went into trading: did you go through trading via classic financial institutions, or via different ways?
One "another" job you know: that is counseling and coaching.
Another is I run a business of physical trade (auto parts). That one is especially great to compare physical markets with financial markets.
Went into trading in 2005, classic retail way (forex account). No background (my degrees are psychology and philosophy, not anything close to finance), nothing. Guess like most of ET members.
I can only say, if yuor decision has been yours alone, then you made the right decision
from where you were at the time.
And very good that you've found much more success than in trading.
Now when looking to trading decision to quit or not ( I am assuming that is what you are referring to) : it depends on the situation.
Well, I prefer not to talk in terms of "quitting". Any experience is invaluable if you know how to use it. Trading is great, that background helps me a lot in business.
My initial point is just: don't get stuck at "day trade no matter what". There SHOULD be a "matter what". Your quality of life is TOP PRIORITY. Anything else better just serve that goal, not be your idol as it too often happens. Been there myself, so know what I'm talking about.
One story before I go to bed.
One of my best virtual friends, ET member and a good trader admitted that his relationships were broken due to trading (during the "learning curve" period). He became successful, but suffered from loneliness for like the rest of life. Last year he died. I will always remember him and his lessons.
One of the most important of which is: risk:reward applies not just to your trades.
True : trading provides a very special experience to say the least.
Now about when one should quit ?
In my views, one should realise that trading is a UNIQUE and golden opportunity to sort out one's psychology/spirituality. Moving on from trading : the same issues are still there.
So if someone sort out their psy issues, and then make the decision to quit : all hats to them. Quitting before is giving up on the golden opportunity trading offers : a real mirror to where one's problems are. In trading, one can not hide.
From spiritual point of view any experience is "good" of course. But from conventional, that one which may kill is not.
So there should be a "stop-loss" too.
P. S. Gone for today, thanks for the talk.
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