I honestly cannot recommend that anyone develop, or follow up an interest in trading.

[JTrader]

Hi

As of the end of today, i have asked to be banned from T2W for an "indefinate" period, so that i can be totally focused on trading, without any internet distraction/s that i may wander to in moments of boredom, that then cause me to make mistakes with my trades.

I now have what i consider to be a very solid methodology, that is as good as it can be, more or less.

This has taken years of painstaking work to develop. And from time to time, my inability to execute the plan correctly, can drive me up the wall.

For reasons of health, safety, financial security & mental well-being, I really could not & would not recommend to anyone that they develop or follow up an interest in trading - no matter how much they hate their day job, how bright they are, how motivated they are etc.

As it stands, trading is probably the worst thing that i have developed an interest in. If i make a small fortune over the next 1-2 years, it will redeem itself & perhaps become the best thing that i ever became interested. But at the moment, this is just speculation.

When someone asks me about what i do, i am reluctant to go into detail, to sound enthusiastic etc etc. Because i know that trading is a BRUTAL event. Failure to implement a near perfect methodology correctly can result in heavy losses.

Sorry to any newbies, that i cannot sound more inspiring about the subject of trading. But this message is meant as a harsh warning to anyone who has just developed an interest in trading.

Dreams of champagne & ferarris entice you in, but you really do not realise the quagmire that you are getting yourself involved in. This rabbit hole runs EXTREMELY deep.

If you are married, an obsession with trading could quite easily ruin your marriage. If you are single, it could really adversely affect your social life etc.

I'm sorry that in my final posts i cannot sound more encouraging regarding trading. However, I hope that my realisticness is of more practical benefit.


Be warned :!:


See you all on the other side!

 

[bbmac]

HI JT, sorry to hear you won't be around on T2W, and best of luck implementing your trading edge now and in the future.

The comments in your post are brutalluy honest and I have to broadly concur.

Like most, I have had my share of ups and downs on this trading journey and having 'perfected' a trading edge always face the challenge of implementing correctly which as you know involves discipline, patience and some courage.

The time we spend in reading around the subject to actively engaging with the markets can have a negative effect on other aspects of our lives and it can de difficult to strike/find the much sought after 'work/life balance.'

Nothing great that was ever achieved was ever easy, and very oten suceessful outcomes seem at first to run contrary to conventional thinking, until they may become the accepted convention.

The real attraction of trading is that it has exponetiallity. Ie if a trader can successfully manage the psychological elements needed to profitably impliment a sound and proven trading edge then in order to earn more it requires only more trading margin, not more hours or effort. To this extent our best days lie ahead of us.

Good luck.

 

[BSD]

Hi J, thats really a great pity that you won't be posting here any more mate.

 

[Lord Flasheart]

Always appreciated your input so good luck

 

[0007]

Jtrader,

Shame to see you won't be posting. But you've taken control and know where you're going. Most importantly, you are doing what you consider is right for you - and after studying it all and listening to all the advice etc.... the best person to look after your interests is you.

I would only add that it's possibly not just trading that can take over people's lives - if you are really keen on anything, it's very easy to become obsessed and lose your sense of proportion. Some of the greatest achievers in history have suffered this way.

I think you are being very realistic and will master yourself - this is the hardest part of trading - techniques are there for the picking, but oh boy! can most of us handle them successfully?

All the best - come back another day and relate your gained wisdom.

 

[trader_dante]

Jtrader, sadly, the truths you tell in your first post will be largely ignored by newbies to this game who think that for them it will be different or think you are simply a battle hardened cynic.

I can only agree with what you have written. I wouldn't wish this game on anyone.

I personally do not know if the money you make is worth the price you pay to make it.

 

[Hotch]

I think the unique(ish) thing about trading is that it's your wealth you are playing with, even running your own business, while it's your money, it's not going to suddenly disappear.

It's not trading as such which is the problem, but the money. If you are in trading solely for the money (not accusing anyone of anything), then hits are going to affect you more. It's not even about whether you can afford to lose the money. It's your philosophy on it. In the end, it's only money, much more important things in life.

 

[advfntrader]

JT, this sounds very familiar as I was there a few months ago and all of the things you mentioned almost did happen. its such a frustrating thing and you can easily become obsessed with trying to beat the market. time and time again you lose, then you have a break and as the pain fades you have another go. again you are given a tanking and the vicious cycle continues.

maybe one day we will both figure it out. maybe

 

[JTrader]

Jtrader,

Shame to see you won't be posting. But you've taken control and know where you're going. Most importantly, you are doing what you consider is right for you - and after studying it all and listening to all the advice etc.... the best person to look after your interests is you.

I would only add that it's possibly not just trading that can take over people's lives - if you are really keen on anything, it's very easy to become obsessed and lose your sense of proportion. Some of the greatest achievers in history have suffered this way.

I think you are being very realistic and will master yourself - this is the hardest part of trading - techniques are there for the picking, but oh boy! can most of us handle them successfully?

All the best - come back another day and relate your gained wisdom.

Yes good points.
When its your livelyhood on the line, and ability to feed yourself & others etc. and you are in a desperate need to generate an income, one needs to become obsessed really. There is no other option. Yet this obsession may lead to nothing fruitful, that is the message i am trying to convey.

 

[Lee Shepherd]

Shame to see you go JTrader,

You'll be missed around here mate. I just hope you got enjoyment from the markets while it lasted for you.

I agree with Trader Dante on his post.

Good money, yes.....easy money...NO, Hardwork and heavy commitment...absolutely.

Good luck in whatever you decide to do bud.

 

[Paul71]

Jtrader, sadly, the truths you tell in your first post will be largely ignored by newbies to this game who think that for them it will be different or think you are simply a battle hardened cynic.

I can only agree with what you have written. I wouldn't wish this game on anyone.

I personally do not know if the money you make is worth the price you pay to make it.

Tom,

This post and JTs thread made me think about our conversation on Saturday night. I've been thinking about what you said about Vic N., and you were probably right. Mainstream trading ideology doesn't seem to get many people very far.

Good luck, JT.

 

[keano]

I guess in life, hard work often leads to guaranteed success, although in trading, that doesn't seem to necessarily be the case. Im sure most of you are no different to me when i say that for years I spent litereally 14 hrs per day at my screen learning / watching / reading / studying the market. I have only recently became somewhat consistently profitable - dont know if it will continue forever - time will tell...

 

[trendie]

shame to see you go, but at least its on a positive note - you're still trading.

I generally agree with your opening post; its not so much trading is difficult, its that the investment to get to the stage of consistency is more protracted than originally thought; and the eventual edge you exploit can be markedly different to the one you thought existed.

good luck in your future, JTrader.

 

[UKtradergirl]

Yes good points.
When its your livelyhood on the line, and ability to feed yourself & others etc. and you are in a desperate need to generate an income, one needs to become obsessed really. There is no other option. Yet this obsession may lead to nothing fruitful, that is the message i am trying to convey.

It's really refreshing to see someone be so honest and you very clearly communicate the realities of trading.

I'm afraid i've already gone down the slippery slope of obsession. Yes, trading ruins your life- it has mine also. I'm a single mum and my poor baby doesn't get much outside interaction with the real world anymore- i stay at home playing with her of course but, the charts always have to be in view . I've become a recluse and am never going to get out and meet anyone, ever. And funnily enough, i don't care, because in a sick kind of way the charts have become my friends.

How sad is that?! I only pray they reward me for my dedication- and not bite me on the bum like oil did this morning.

Good luck for the future

 

[advfntrader]

UKtraderGirl, be careful with Oil I

 

[JTrader]

The odds are firmly stacked against a trader becoming long term successful.

Even if a trader did not have spreads or commissions to pay, i reckon a similar number would still fail. The spreads & commissions & any other costs, just make the level of sufffering a bit more intense, but in the long term, probably shorterns the length of time spent suffering.

What i have learnt is that the markets will punish you for the smallest of half-mistakes/oversights on your behalf. Unluckuy breaks tend to out number lucky breaks by at least 10 to 1.

You really do not to be on top of your game & be extremely precise, at all times to stand any chance of success.

 

[mauzj]

If you are married, an obsession with trading could quite easily ruin your marriage. If you are single, it could really adversely affect your social life etc.

So sad but true. I trade 14 hours days and am unlikely to pull in 7 figures this year.

 

[zupcon]

I really do wish you the very best of luck, at least it sounds as if you've identified a big part of the problem, and got things into a correct perspective.

I guess the bad news is, regardless of how much you make, one set of problems just gets replaced by another but thats part of the fun

 

[JTrader]

JT, this sounds very familiar as I was there a few months ago and all of the things you mentioned almost did happen. its such a frustrating thing and you can easily become obsessed with trying to beat the market. time and time again you lose, then you have a break and as the pain fades you have another go. again you are given a tanking and the vicious cycle continues.

maybe one day we will both figure it out. maybe

I know exactly what you mean & trading can be so extremely cruel. You make 3 steps forward, and then take 2 steps back. Or 3 steps forward & 3 or more steps back .

This destroys the coinfidence and then you are likely to miss the big winning opportunity when it comes. And then you are likely to force bad signals in a game of catch up, and you do even more damage to your account.

 

[arabianights]

so am I the only one who enjoys trading then?