Transition: loser to winner

Discussion in 'Trading' started by 1contract, Oct 24, 2003.

  1. I wonder if anyone who has made this transition would be prepared to say how it was for them. I'm not looking for strategies or trading advice, but information on the process of turning the corner.

    Was it the result of a single insight?
    Was it the result of help or mentoring?
    How long did it take - were you bk even for a long time?
    Did you oscillate between winning/losing for a while?
    When you become profitable - do you ever feel you might lose it again - or is it like riding a bike, where you can't imagine not being able to do it?

    One day I'd like to be able to respond to this thread :wtf:)

  2. These are good questions, but they have been answered many, many, MANY times and on thousands of pages at ET.

    Maybe it is worth occasional refresh, but do go back in the archives and dig out posts and threads in your area interest. There is some great stuff sitting on dusty shelves here at ET and I guarantee that nothing has changed re trader psych since Livermore was a pup.

    Regards and good luck.

  3. thx pp - i will do a search
  4. VTTrader


    I found that, once I stopped trying to follow 'guru' advice and actually studied the markets closely to understand their behavior--why, my trading and investing began to improve markedly.

    Also, I have this cool board thingy: you put your hands on a marker, ask the spirits 'should I buy XYZ today?' and the marker mysteriously moves to 'yes', 'no', or the ever popular 'unclear, ask again later'. I recommend a dark room and lots of candles when using this trading strategy. It DOES provide atmosphere, if not necessarily good trading decisions.
  5. richk


    What I can say is find such type of trading which is close to your nature. I tried to daytrade indicies (QQQ, SPY) for about 8 month and I realized that this type of trading is not for me. Then I switched to swing trading of ETFs (mainly sector based, but broadbased and bonds also) and my trading improved very much. I feel much more comfortable with this type of trading.

    Second: discipline and strategy/plan. I need to know how to find a setup, when to enter, where to place stop and where is my target. How to maintain risk/reward ratio. And then during trading hours I already have plan so the only thing is realize this plan, I do not think again about my setup - i follow my setups hardly (rules and discipline).

    So I feel I am improving in my trading. And wish the same to you....

    Happy trading, :)
  6. Mecro


    I'm going through exactly the same experience right now.
  7. Pabst


    You ain't a winner in this game until you retire. Plenty of guy's have lost at age 60, everything they made between ages 23-59.
  8. For me, after trading for 4 years, it was the realisation that I am in the green for 4 months in a row + one month break even (never had a positive month before... never!), and that I suddenly find trading boring, profit or lost.
    Don't get me wrong, I'm still not 'there' yet, I still have a very long way to go, a very zen like road.

    Cheers!! :)
  9. This is kind of depressing. You mean to tell me after slogging away for 4 whole years, paying rent/mortgage, scraping together some food each day to eat, and spending 8 to 12 hours a day in front of a set of monitors watching squiggles go up and down, you have just now run 4 months of green together?

    This doesn't make any sense unless you are trying to make a small fortune by starting with a large one.

    Not trying to rain on your parade with your recent success, but the road you have clawed along is a long one indeed. - rcm
  10. rcm ,
    :) Fortunately, I have a job other than trading. The first few years, it was 4 days work, 4 days trade (yes, that's 8 days/week!), now it's more like 3.5 days work, 2.5 days trade, and ave. 1-2 trades per trading day, some days no signal, no trade.
    By working 8 days/week (yes, that's 8 days/week! :D ), I've stop drinking !!
    The draw back in working 8 days/week is not having a g-friend to go out on Friday nite, and stay home typing replies on ET !!!:mad:

    Cheers!! :p

    #10     Oct 24, 2003