Giving Up

[eldad 10]

Hi,

 

Trading is a hard task, most of the people come we the thinking it is easy money and in no time they will become millionaires, just to find out they blown up their account in less than a year, now if you blown your account you were forced out of the game and the market told you Ciao,

 

What if you still in the game but it takes it’s time, as I like to say this is a marathon, in marathon they say (never ran a one) almost everyone face a wall a mental wall that don’t allow you to move on, you must conquer your own self, to think you are capable to keep on running, walking, whatever it takes to finish the race,

 

Many traders stops, I don’t judge them every week I have the same thought, after 4 years in the market and still for some trades when I get stopped, I feel like a failure I know I shouldn’t, I know it is just one trade and I took it as I should have, but I can’t help myself sometimes, the frustration is to strong, especially after a streak of losing trades, we are not wired to truly play with randomness but still we as traders try,

 

Last week was a hard one, I ended up April red, I checked my trades and all of them were according to my system, I did had some that I could pass but I didn’t and I also had a day that I didn’t took all I could from the market, but I couldn’t stop feeling that I was failure I done all but still I lost money, I worked, practiced, prepared myself to each new day, didn’t lost control even once and still ended up red,

 

So I got the wall or better saying the thought of giving up have arrived,

 

What to do? Hard question, I am still fighting the urge to give up and move on with my life to the next chapter, I still think I can do it, I have hard time to believe in myself but I do think I can do it, I am really lucky because my spouse do believe in me, more than I do this days, and it helps a lot, I try to remember things I did accomplish in my life till now, I am telling myself that even the best traders have a red month some even a year, it is part of the game, but you must be in the game to have the real green months that make it all,

 

I tried to watch a boxing fight to understand how to get beat up and still rise to get more and give some as well,

 

I am still in the game I am still running and new walls will come that’s for sure but I will fight them back each day as a new one, To become a trader was my choice and no one else, I will fight my way to become the best I can,

 

Make the odds in your favor Day Trade.

 

Eldad Nahmany.

[DbPhoenix 42]

Learn how markets work.

 

Abandon the indicators.

 

Trade something easier than forex.

[tradelab 10]

I am fairly new to this. But I never expected it to be easy to get gold out of this mine. I am doing my part in hope my work pays off, just like we do in every other field.

[jpennybags 11]

What to do? Hard question, I am still fighting the urge to give up and move on with my life to the next chapter, I still think I can do it, I have hard time to believe in myself but I do think I can do it, I am really lucky because my spouse do believe in me, more than I do this days, and it helps a lot, I try to remember things I did accomplish in my life till now, I am telling myself that even the best traders have a red month some even a year, it is part of the game, but you must be in the game to have the real green months that make it all,

 

Eldad... we've all been there. I was into my third year before I turned the corner, and my trading found some positive consistency. The first year I lost money. The second year I broke even, but didn't cover living expenses. It was the second year that I struggled the most with feelings of discouragement.

 

Whatever you should decide... it's a matter of finding fulfillment in your life. Trading is not for everyone, and there is no shame in deciding to move on to something else.

 

Best of good fortune to you either way...

[zdo 20]

Dalai Llama: “You’re perfect as you are, and you need a lot of improvement.”

 

DB, Do you know Eldadand what he’s doing or something? Nothing in his post indicates (pun intended) that he is an indicator junkie or trades fx...

 

suspicion cloud --- when the ‘voice of trading’ tells you to learn how “how markets work”, it is usually the equivalent of someone telling you need to get to "know god"...stick around and they will soon be telling you the one way to god. Stick around and the voice of trading will soon ‘imply’ one objective window to “Learn how markets work.” It’s ok. See it for what it is. It is the 'voice of trading’s' stated job to try to get you from the loser ‘pareto’ into the surviving/profitable ‘pareto’.

“The only fight that cannot be won is the fight in which the enemy makes all the rules and you foolishly abide by those rules.” B. Smith

Unfortunately the ‘voice of trading’ is at once trying to help you move into the ‘surviving’ pareto and simultaneously and unconsciously attempting to keep you down by tricking you into defeating yourself

 

“One of the painful things about our time is that those who feel certainty are stupid, and those with any imagination and understanding are filled with doubt and indecision” bertrand russell

 

Confucius say “Real knowledge is to know the extent of one's ignorance”

 

So more accurate than “Learn how markets work” would be learn what is YOUR window on how the markets work. We are all on a wheel looking at a center. Another trader's perspective may be a few degrees around the wheel from yours, or it may be 30, 60, 90... 180 degrees. The point is he can never really know what you know about "how markets work". You can never know what he knows about "how markets work", Nor does it matter. Learning “how markets work.” at someone else's window on the wheel can go either way. It can be helpful. It can be harmful. I always tell people to stay at their own window long ... long enough to really know what other windows/angles would be helpful ... then go seek teacher.

 

Eldad, I can’t tell from the content of your post whether you need to learn more of “how markets work”. Maybe you do need to learn a lot more. Maybe you even need to learn DB’s “knockoff” of Wycoff. Seriously...

 

I could go on...but will sum and move on... basically

It is far better to imperfectly train at your own level with proper form than to perfectly train someone else’s level with improper form.

 

 

 

 

... Moving on --- imho, trying to do more of the same - in this case doing more “how markets work” will just strengthen your current structural conflict and ratchet up your compensations.

I can tell from the content of your post that until you get your bodybrains straightened out, you are in too much ‘bad’ stress to really learn and thrive. In fact, important zones of your brains are 'shrinking'. This chronic stress makes stem cells in the hippocampus mature into another type of glial cell called an oligodendrocyte, which produces the myelin that sheaths nerve cells, instead of maturing into neurons, etc... = long term diminished capacities, etc.

 

In the long run, you would be better off spending much of your time and energy understanding things like the ‘attachment’ style you brought out of childhood... a style that served you well enough in previous endeavors in life... but now interferes with the deep how’s, not the whethers, of your ‘winning’ and ‘losing’ in trading like having pieces of rebar going through your head would

... and, btw, finding a ‘therapist’ who understands ‘attachment’ at this level will be a fck of a task, but in my humble opinion, that would be important part of the straightest path to getting back on track to the neuroplasticity, eustress, and the level of complexity you need to bring to whatever you do in life. Then you will have the power to work in the areas of your “how the market works” that are stuck/ ‘fixed’ and make them dynamic and adaptive to changing mkt conditions / auctions

 

...

 

 

 

… and May I suggest questioning those boxing parallels ---- warriors do not make great traders! While traders do require their own set of virtues, they are different from the virtues that make for greatness in a warrior...

 

“When you have exhausted all of your potential growth, just remember: you haven’t” paraphrasing S. Sonnon.

 

hth

Edited May 8, 2015 by zdo

[MightyMouse 12]

Hi,

 

Trading is a hard task...

 

 

...I tried to watch a boxing fight to understand how to get beat up and still rise to get more and give some as well,

 

 

Stop trading in the markets. Trading in financial markets is a very advanced form of trading, no matter which instrument you trade. You are guaranteed to lose. If you are winning without knowing how to trade, it's because you are lucky. You might run out of luck.

 

Start trading other things: Cars, baseball cards, other collectibles, etc.Learn to spot value, desperation, over supply, tight demand, etc, etc. Learn to succeed in these markets, then decide if you would like to trade the financial markets.

 

When you trade, you are trading with other traders. Learn who they are, when they are desperate, over confident, foolish, etc. Then find indicators that wil help you locate those people who exhibit these behaviors and exploit them.

 

Financial markets are much more difficult because you can't see the other guy and need to learn how to find them, always keeping in mind that others are trying to snare you at the same time.

 

From the movie Rounders: When you are sitting at a table (poker) and you can't tell who the sucker is, then it's probably you.

[DbPhoenix 42]

Dalai Llama: “You’re perfect as you are, and you need a lot of improvement.”

 

DB, Do you know Eldadand what he’s doing or something? Nothing in his post indicates (pun intended) that he is an indicator junkie or trades fx...

 

I read his posts. I always do before replying to a post such as this. Helps to avoid providing generic and usually irrelevant advice. He also posts on more than this site.

 

As to "how markets work", it's hardly a secret.

[zdo 20]

Talent is a long patience, and originality an effort of will and intense observation.

– Gustave Flaubert