To profitable traders: How do you feel?

Discussion in 'Psychology' started by Kastro_316, Nov 14, 2005.

  1. Since I am a student and a DEMO/back testing trader, still testing systems and working on certain things, I would like to know how you "Full time traders" feel. Do you wake up every morning and think "Wow, I made it, I beat the odds" or do you think along the lines of “I hope I don't lose today” or “I need to get better"

    When ever I am in pursuit of a dream, I always think to my self when I realize that dream I am not going to have a care in the world, but it seems every time I realize a dream I have worked hard for, I continue to doubt my self and think "I should be better"

    Anyone else have this?
  2. I *used* to be excited about the markets, back when I knew much less than I know today. Nowadays, after several years of this grind, I'm often just tired of the everyday bs and crappy market conditions, hence my sometimes, not-so-good attitude. It doesn't reflect on the monetary performace, as I've done well, but it's just the kind of market that wears you out. So, no more excitement for me. It's just a job. Only, no boss. But still a job.

    So, I can't really be fired, but if I screw up and lose a ton of dough, it would be about the equivalent of losing a job in a way?

    It's not a "dream" for me. More of a "responsibility", since, due to the way I trade, I cannot get away from here even 1 day! So, I actually feel like I've built this "mini-prison" from which I can't escape. Unless I hire someone to take over the daily functions of keeping everything working right. But then, I'll be an "employer", somebody I don't want to become. Overhead will be higher, etc.
  3. Deptrai


    I wake up feeling grateful that I can do what I love for the rest of my life in a profession where AT LEAST 99% of the forex traders eventually fail. I know that most people, like Henry David Thoreau said, "live lives of quiet desperation" and I count myself fortunate that I do not. I am long 20 USDCHF at an average price of 1.2903. I've been stacking from 1.2788 to 1.3100 since Wednesday, November 2nd. Gain Capital is quoting 1.3170/75. I have a floating profit of $40,526.20 in 1 week and 5 days. It would take me 1 year and 1 month working in the back office of a mutual fund company to make that kind of money. So I put my profits into context. I do know that I make more money than most people make. So I realize how lucky I am. And like I said in another thread, I love this business and if there was no such thing as trading, then I would be a bum.


  4. Both of you, thank you! Both with two different takes...

    Deptrai, i have a great deal of respect for you! You are living the dream..

    Hope everything works out for the both of you...
  5. risktasker,

    It seems you are not putting enough a size to feel good or you are pair trading or something of boring nature.

    Exercise, eat right, stay healthy. (important)

    Put on 5x the size, Make 5x the money, Have the money, the girls, the penthouse, the nice things.

    I don't think trading as a job mainly because its so scaleable $$$ wise.
    Theres nothing in the world like it. Its MONEY , I love money, And It loves me as well.

    make sure your venture has capabilities to make more then at least $100k a year.

    If you are grinding it out day in and day out, I would hate the job as well, but if you are swinging 10k a day, 15k a day in the future, I don't know how you can ever be bored.

    No way
  6. I am in the "I should be better" boat, regardless of how much I am up each day, I find better trades when I review the trades I have made. I am also paranoid that what little "edge" I have will evaporate quickly, so I constantly tune my system. On the other hand, I have absolutely no fear of drawdowns, it is just that probability can workout against the algorithm once in a while, but the quality of the backtesting is good enough that I know I will be profitable in the long run, so any sized loss is not a big deal.
  7. esmjb


    the days i wake up thinking "wow, how much money am i going to make today?" are the days i end up losing money. usually i wake up knowing i have a hard job to do and wanting to do it well. i dont feel cocky about being one of the few who make it in the biz but am satisfied that i have made it.
  8. I guess my trade is boring, definitely, running an automated system is like that. I don't know about anybody else, I hate telling people that I trade for a living, especially women. There are this type of women that attract to money like flies, and I absolutely detest that, I know far too many of that type. So whenever people I don't know at a party as the dreaded question, "so, what do you do?", I have tried to joke about it ("bag groceries at supermarket"), or ambiguous ("between real jobs"). I don't want to get into a conversation about trading, my strategy, to people without any background in markets, algorithms and quantitative analysis.
  9. Sometimes I feel so sad about taking money from the other 96% of losers. Even though I am such a blood sucking capitalist, I do have a sensitive side.
  10. gkishot


    Don't know what you mean.
    If you bought some stock from some other guy it does not mean at all that the guy lost his money on this deal. It totally depends on his purchase price.
    #10     Nov 14, 2005