When you dont want to wake up early to trade anymore, what do you do?

Discussion in 'Psychology' started by pakua42, Oct 7, 2012.

When every day you feel like trading less and less:

  1. Do you feel overwhelmed as to which strategy and tactics will work and also suit your personality?

    1 vote(s)
    2.8%
  2. Think maybe you lost your confidence as a trader and cant win and be in that 1% as you originally th

    3 vote(s)
    8.3%
  3. Realize the price of being a professional swing or day trader was more than you thought?

    2 vote(s)
    5.6%
  4. Do you figure its time to leave trading?

    2 vote(s)
    5.6%
  5. Realize that although you love trading, there is something you desire to do even more?

    4 vote(s)
    11.1%
  6. Realize you just got bored with it?

    1 vote(s)
    2.8%
  7. None of the above?

    17 vote(s)
    47.2%
  8. All of the above?

    6 vote(s)
    16.7%
  1. pakua42

    pakua42

    you said it handle. I think i might have burnt myself out messing with 2 and 5 minute charts which is starting to look to me like noise within noise. Show me a straight down nose bleed bear run and then give me a 5 min black candle, what do you have? not much i say. But give me a straight down rush of 15 min candles or even 30 min and then give me a solid black candle, well, maybe now we have something. Just the way Ive been seeing it play out lately, especially forex. But Im not ready to roll over dead just yet. As AAA said...where in your 50's do you just go and start a new career. Oh what was my last job...........lets just say "working in a casino." That mighta had me burning out before i even got into trading. LOL. I feel like a cop who says hes burned out with all the stress and then goes and takes a job as a prison guard. lol
     
    #21     Oct 10, 2012
  2. I divided my discretionary and mechanical trades for a whole year.

    mechanical +.0000$
    discretionary -.0000$

    I wished i followed my mechanica; system and didn't gamble on hunches, I would be strongly positive. I have been short since 1300... on a hunch. I don't know how I can live with myself.
     
    #22     Oct 10, 2012
  3. 1) You need an edge. An edge is trade setup that has positive expectancy.
    a) Let's assume for sake of argument, your current system has an edge go to step 2.
    b) If it does not, go back to step 1 or get a job or pay someone to mentor you.

    2) Good, you got an edge. Now setup a trading plan. For example, do you take all trades during the day. Do you have a reason to stop for the day for example you lost a certain amount of money.

    3) Develop trade management, for example, do you have a hard target and stop. A stop and target based on the chart.

    4) Be able to take a loss when you finally get one. For example, I have not had a losing trade for awhile since I have achieved step number 1. So I need to not revenge trade when I do have a loss, and just realize it was not meant to be for that day.
     
    #23     Oct 11, 2012
  4. pakua42

    pakua42

    Oracle, you wrote the following: 2) Good, you got an edge. Now setup a trading plan. For example, do you take all trades during the day. Do you have a reason to stop for the day for example you lost a certain amount of money.



    hERE IS WHY i THINK WE ALL GET WORN OUT--That edge disappears. Havent you ever wondered why they sell this neural network software that you can backtest and tweak it until it shows a positive expectancy? I bought one, did a trial on another, and all i can say is........both went from over 65% winners and over 1005 annual return, one was day and one was a swing trading software, and both went into the toilet when I started using them. I often wonder why so many people on threads ask this question:" Is every system destined to fail...not if, but when"

    And suddenly everyone went back to moving average systems, and those who havent are using fibs. Ive never seen so many people whose screens are cluttered with fibonacci numbers and just like elliot waves, 50 people will tell you 50 places to get into the trade looking at the same chart. They say trading never changes because people drive the markets. Really? Did those people have the ability to get out of a trade in 2 seconds rather than waiting till the next day and calling their broker and also paying a rediculous commission for it. You dont think internet trading has made people think of long term hold as 6-9 months in many cases? And if Gann and all the geniuses like Livermore died broke even then, what does this tell us? Im just playing devils advocate here,boys?
     
    #24     Oct 12, 2012
  5. pakua42

    pakua42

    I paid a prop firm 11k to train me for a year and they promised to give me all the money Id need to trade for life, starting with a $10 day loss limit and graduating to 5000 at level 10!!!! They went out of business 12 months later. I want to know how I can live with myself also, especially since this S.O.B. is still out there selling more systems and never gets sued!!! He is like the Don King of trading. Disgusting. But I feel yuh, my man. You know how many times id be in a position in the OIH when it was over 100 a share I think and id promise myself im staying in until close of day, and then id have a small gain, get out at break even(like aaaaall ther experts tell us to do) and see by end of day id have made 3 weeks salary! Im sure none of us ever got out of a trade we should have stayed in till 3:59, did we??? LOL
     
    #25     Oct 12, 2012
  6. No, the edge does not disappear if it was real to begin with. Yes, markets change, and certain days the edge will not work so on those days, don't trade after you take a loss.

    I am not telling you to buy a system. Most systems for sale are back tested which means they are optimized to work on the past but can't predict the future. Only forwarded tested systems are reliable if they have been tested in bear and bull networks.

    I think your problem is you don't have an edge, and you don't want to commit to the time to find one. So you are like many people who come here, and bitch that trading does not work because you can't do it do to being too lazy, not putting in the time, not putting in the money. That's what I think.

    I did not trade today, I saw the place where I wanted to do a short trade earlier but when I woke up, I did not see any good setups, but I made money on every other day this week.
     
    #26     Oct 12, 2012
  7. pakua42

    pakua42

    Im looking at the advertisement bar at the top of this page pushing Mike Cvells trend following books. Why has he now gone from 1 book(whidch I bought) to 4 books 8 years later if any of them made money. This is a guy who claimed to be one of the original Turtles under Ed Skoyta!!!!! And speaking of them, I repeat an earlier quote, I say that in todays trading climate, 2/3 of thos emaster traders in Market Wizards could never have gotten rich doing it today. The 90's are gone forever. With that said......EACH DECADE OFFERS US A NEW RHYTHYM in the market that is unique. Problem is...whats the new rythym for the 2010-2020 era. In the 90's every moving average system worked at least fairly well. Try that today!!!!
     
    #27     Oct 12, 2012
  8. Since I started trading I can't wait to wake in the morning. Don't want to go to sleep at night. I hate weekends now too. I go out of my way to steer convo's to anyone who will listen. :D

    I've never known anything else to affect me in this way.
     
    #28     Oct 12, 2012
  9. Who the heck do you think you are? And what do you think you know that others don't.

    Get a life!
     
    #29     Oct 12, 2012

  10. Another arrogant statement!
     
    #30     Oct 12, 2012