A question that I am continually being asked these days by both newbies and experienced (but struggling) traders is at what point should they accept defeat. I only recently realized that I DON'T know the answer to this question as I have always made money consistently and so have never been faced with this dilemma personally. It made me realize how few people consider the very real possibility of failure until it is too late. Even then it seems as though people don't seem to want to quit, it seems that only being fired or heavily going into debt ends trading for some guys I know. I just wondered what would be the best advice to give to a trader who has some potential talent but just seems to always fail to achieve or to a guy who has lost his way after prior success. Any former traders out there who have quit and could provide their own take on life after trading. It does seem as though the guys I know who have left the industry struggle to adapt to the real job world beyond trading. I think a big problem for those who struggle is the belief that one day it will click, but really IMO if you can't do it after 2-3 years then you never will be able to and yet I know guys who have traded for even longer and still talk about one day making it big even though they have showed no realistic likelihood of doing so. Maybe I am overly cynical but I just can't believe that people who continually fail still think that one day it will work out. And so I ask at what point should a struggling trader accept that trading is not their calling? Should it be a self-made decision to quit (which rarely happens) or should it be once a person has totally exhausted all their trading options, e.g. ran out of money or been fired from multiple firms?