This is for the long term traders

Discussion in 'Professional Trading' started by nyxtrader, Dec 8, 2007.

  1. So 9 years as a trader as taken its toll on me. As far earnings as a prop trader, I think I am in the top 1%. But I find myself starting to feel burned out! I am sure I am not the only one to feel this way.

    So my question is, what can I do to make this feeling go away?

    I live and breath this market and I think it has taken over my life.
  2. MGJ


    1. Figure out an annual income that will allow you to "live comfortably" according to your own needs and wants and requirements
    2. Multiply that by 50.
    3. Keep trading until you have accumulated savings equal to step 2.
    4. Use the savings to purchase Treasury Inflation Protection Securities "TIPS"
    5. Quit trading. You never need to trade again. You can live comfortably the rest of your life on the interest payments AND you're protected against inflation AND your heirs get the principal when you croak. You don't NEED to trade.
    6. Wait 12 or 24 or 36 months. See whether you WANT to resume trading. If so, trade. If not, enjoy your retirement.
  3. Consider mentoring newbies or traders having a tough time.

    Depending upon your personality, you make take pleasure in seeing others thrive because of your guidance or "getting it right" after struggling because of your advice and experience.

    Just a thought.
  4. Take several weeks of vacation. The market can survive without you during this time of the year. (TIPS won't protect you from deflation.)
  5. open


    I am not calling you a liar but from my perspective I love trading, it is easy for me and it should be for you

    but I do in fact take it easy, sometimes placing only one trade per day

    so maybe stop being so ACTIVE
  6. Take lots of leisure time. If you are really successful, you don't need to work all day. Think about what's more important for you than money. What do you really need besides the markets?
  7. perr


    hey nyxtrader

    It's not you, it might be the same routine you're doing.

    9 years same thing , will do this to all of us.
    You must mix's thing's up.

    Your a prop trader, move away from there.

    I live and breath this market and I think it has taken over my life
    you say. this is good, me too!

    Remember this is FOREVER.
    You do this till dead. (no kidding seriously)

    When you know your stuff you can Trade anytime on any day, any hour. Do that, mix's up your trading.


    hang in there.

    And always always trade well.

  8. amenofx


    Man, take a relax. Going travel few month. Change your environment. Go to India, or Australia or China or ...
  9. perr


    hey nyxtrader,

    I forgot one, it might be life burning you out.

    If you love this game like you say, you need to love it more.

    This game has to much to give :D

  10. So what are you going to go do? Find a nice cubicle job somewhere?

    If you are truly a successful trader, then money should not be an issue - it's change that you are seeking. The "grass is greener" issue maybe?

    Many good suggestions here already. The first thing you should do is take a break. There's a reason just about every employer out there gives vacation time, THE HUMAN BEING NEEDS A BREAK FROM ROUTINE TO ENERGIZE.

    After a nice vacation totally away from the stimulus of the markets (and I mean totally away, no market news, CNBC/Bloomberg, Wall Street Journal, etc...) you should dedicate some time to learning something new. You need a challenge.

    Try learning about a different twist on trading. Try learning options if you trade futures for example. At your base stick with what's making you steady income, but branch out a little. Maybe you might think about pursuing a small business interest in something that you like? Even taking up a new hobbies can change perspective.

    The main thing is breaking the grind/rut. Hate to tell you this, but it's going to happen no matter what you do. It usually happens to those that become at least moderately successful in what they do. It's actually a good sign because it shows that you are making it, but it can lead to more significant issues if not identified and dealt with.

    There are some that can become totally contented with the security of a rut, but there are those that become disgusted with complacency and start to actually get depressed.

    I understand what you are talking about because I felt the same way with what I was doing before I started trading. For me, trading was my change. In the end, it's not about the money. Money is only a means of monitoring success/failure, a score of sorts. Money will always be around and you know how to tap into making more. It's a renewable resource as long as you have the desire to work for it. It's what you do with your resources and time that makes the difference in life. This is a key principle that drives many of most successful. People like Warren Buffet talk about this at length.

    The unexamined life is not worth living. Take some time off. Reflect, reinvigorate and redirect.

    Good Luck!
    #10     Dec 10, 2007