Why do you trade?

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Billybob123442

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Basically, I'm just wondering what got everyone into trading, but most importantly, what keeps you from smashing your computer and moving on to literally anything else?

Me, I’m upset with where i am in life. I have grown stronger and stronger but financially I’m so weak. I find so much shame when it comes to my financial situation. At the same time i see day trading / investing as my only way to have real money, or at least the first step to acquire enough money that I can pursue options that would be right now, impossible to do. Basically, it could provide the freedom to attempt to be rich. At the same time, two years of working hard could provide me with a suitable nest egg, but theres no part of me that wants to spend any more time working construction. While 7 years may not seem long to some, I personally hate not having control over my schedule or actions.
I am truly experiencing tunnel vision. Trading, losing at trading specifically, has taken all my focus. This must be exactly what gamblers feel like. I am astounded how many negative and non-productive feelings I get as a result of trading. Some examples are, Ill show them, when i make it life will be better, YOU ****ING SUCK I HATE YOU is a pretty regular one, etc.
Perhaps i’ve just become addicted to the high of a winning trade, being a caffeine-aholic I could definitely see a connection in terms of dopamine and the brain. But truly, the reason I still put my heart and soul into this energy sapping venture is that I truly believe it is a viable source of income, and I do love a challenge. Perhaps there is no beating the market, its all just a matter of luck, but I refuse to believe that. It has taken alot of money from me, but on top of that so much time. Time that could be spent on anything. But I regret nothing, this is my ocean to brave, and all I can see is the freedom that success in this venture can, or if you believe in being positive, will bring.
This may be my final 5 days of trading. From a non emotional view, I dont see any value investing any more time or money into myself. I go home for a week to see my family either way the week after, with or without success in the market this week I will be glad to see them. Wish me luck.
Caesar
 
watch
 
Hi Caesar - Trading is a completely rational road to go down to achieve greater income. The problem is that the price of failure is greater financial weakness. So for many people, they will have guaranteed the very thing they're trying to move away from.

I don't mean its a bad idea, just that managing the risk is vital.

The usual advice from me that you will hear from many traders -
start on demo
use a simple strategy
avoid day-trading
always set a stop-loss using TA
stay on demo until you understand the strategy blindfold and it is consistently making money, or at least not losing it, through all market conditions
move to trading a well funded real account with your low risk strategy and small position sizes
don't give up

Good luck.


PS: Never discuss trading except with traders.
 
I would never advise anyone to learn training especially if you have a decent education, there is just so many better careers for you. Trading is long rough road and I am just being honest, not trying to put you off.
 
Bradtex said:
I would never advise anyone to learn training especially if you have a decent education, there is just so many better careers for you. Trading is long rough road and I am just being honest, not trying to put you off.
Click to expand...


To an extent I agree. Its a trade-off if you'll excuse the term.

Not working for someone is only half as good as having a great job. But its twice as good as having a crap job.
 
As for me, I grew up with it so buying something and selling for profit came second nature. Hanging around with like minded positive people is also a must, however difficult decisions and sacrifices have to be met.
 
tomorton said:
To an extent I agree. Its a trade-off if you'll excuse the term.

Not working for someone is only half as good as having a great job. But its twice as good as having a crap job.
Click to expand...

Trading does allure younger guys who think they can get rick quick whilst sitting in their underpants. Problem is with the guys that go full time with this is that it is often during their prime career building years. My company will certainly not be hiring a 30 year old who has been daytrading for the last 5 years.

Why put all your eggs in one basket, if you want this bad enough then you will just have to put in the hours outside of your regular work hours.
 
For me.. the "why do I trade" is for the (cliche alert ;-) ) freedom. The freedom to make choices. The freedom to spend the most important commodity of all: Time, as you want with who you want. I've got a few weeks left of a 3mth overseas trip with my son. Being a Trader has given me the freedom to do this.

At heart I guess I have always been a "Trader", been buying/selling "stuff" ever since I was a kid & still do (antiques/art/toys/anything). I ended up being a Senior Dealer (primarily FX) for a bank in London before I decided to leave in my mid 30's & go it alone trading Futures for myself.
 
Like Lee I was born into it .....my dad and grandad were bookmakers and also professional gamblers in the 60’s and 70’s ...so I didn’t know anything else and thought it was normal .....so inevitably it was as natural to me as breathing .....been gambling and then trading ever since then

Asking me to stop trading would be like telling me to stop breathing .....which my first wife did....and why my second wife was a trader .....hahahahaha

N
 
for me i'm analytical. i see patterns where others see none. natural for me to gravitate to trading after seeing my first candlestick chart trending. thats for me i said to myself. been at it ever since.
 
Billybob123442 said:
Basically, I'm just wondering what got everyone into trading, but most importantly, what keeps you from smashing your computer and moving on to literally anything else?

Me, I’m upset with where i am in life. I have grown stronger and stronger but financially I’m so weak. I find so much shame when it comes to my financial situation. At the same time i see day trading / investing as my only way to have real money, or at least the first step to acquire enough money that I can pursue options that would be right now, impossible to do. Basically, it could provide the freedom to attempt to be rich. At the same time, two years of working hard could provide me with a suitable nest egg, but theres no part of me that wants to spend any more time working construction. While 7 years may not seem long to some, I personally hate not having control over my schedule or actions.
I am truly experiencing tunnel vision. Trading, losing at trading specifically, has taken all my focus. This must be exactly what gamblers feel like. I am astounded how many negative and non-productive feelings I get as a result of trading. Some examples are, Ill show them, when i make it life will be better, YOU ****ING SUCK I HATE YOU is a pretty regular one, etc.
Perhaps i’ve just become addicted to the high of a winning trade, being a caffeine-aholic I could definitely see a connection in terms of dopamine and the brain. But truly, the reason I still put my heart and soul into this energy sapping venture is that I truly believe it is a viable source of income, and I do love a challenge. Perhaps there is no beating the market, its all just a matter of luck, but I refuse to believe that. It has taken alot of money from me, but on top of that so much time. Time that could be spent on anything. But I regret nothing, this is my ocean to brave, and all I can see is the freedom that success in this venture can, or if you believe in being positive, will bring.
This may be my final 5 days of trading. From a non emotional view, I dont see any value investing any more time or money into myself. I go home for a week to see my family either way the week after, with or without success in the market this week I will be glad to see them. Wish me luck.
Caesar
Click to expand...

Hi Caesar, I'm impressed with your willingness to put so much of what you're feeling down and available for all to see. My first take is not to beat yourself up so much. The markets will do that for you so be kind to yourself, this is an extremely tough business to survive in.

As you know trading can be extremely frustrating. You can do everything right and lose money. You can do everything wrong and make money. What you're trying to apply logic and rationality to the market which are random events. You cannot control random outcomes however, you can control your behavior. Day to day, that's all you can do.

On a trade by trade basis this makes no sense. However, what I've found is that it's important to collect your trades together and see how you performed over that sample. Was your behavior supportive of the strategy you set out for yourself?

May be you need to pivot a little. Day trading might not a good fit for who you are. May be longer term trading might be a better fit. Trading with end of day data is still trading and many of the most successful traders you may have heard of do this.

May be you could also integrate a daily yoga or meditation practice into your routine or you could even join a Trading Tribe. I've done all three. The process of discovery about yourself is incredible and I'll highly recommend it.

For me, what I do on the yoga mat is still trading. No I'm not right clicking my mouse staring at the charts, however I'm experiencing the frustration and anxiety and sometimes anger in the yoga poses themselves. I become very aware of the blind spots.

Good luck, reach out to me if you want more of my take. Tim
 
I'm sure I could name a few reasons, but the overriding reason I trade is so that I don't have to deal with people.

Everyone has their nugget of advice and here's mine: There is no 'cracking it' in my opinion. You won't suddenly become profitable in 100% of trades and be able to scale up at will and just take more from the market. Even when you are successful you will have terrible consecutive days that set doubts raging. One day you'll look back and realise you were profitable over a whole month, then a quarter and then a year. You still may not have made much money, but you'll have made something. THIS IS MASSIVE! THIS IS IT! At this stage you probably don't need to change anything, you just need to scale up your trade size if possible and repeat.
 
For me it's been a labour of love. I obviously want financial freedom so that I can work from home. That is certainly an amazing benefit but it isn't my focus.. I really enjoy researching and following stories unfold and it's also rewarding being right about the market reaction. I still have a way off from financial freedom side as my trade sizes are not making me rich. Working up size to that level is going to take some time.

Sent from my SM-G950F using Tapatalk
 
FXX said:
For me it's been a labour of love. I obviously want financial freedom so that I can work from home. That is certainly an amazing benefit but it isn't my focus.. I really enjoy researching and following stories unfold and it's also rewarding being right about the market reaction. I still have a way off from financial freedom side as my trade sizes are not making me rich. Working up size to that level is going to take some time.

Sent from my SM-G950F using Tapatalk
Click to expand...

i like the phrase labour of love, i can relate to that, not just trading but with other things too (y)
 
For me trading is a financial process, where with every trade I can learn something new. Trading markets are volatile environment that is why you always have t on tour tip toes :)
 
I so agree with @Leeshepherd and @Bradtex
Just made me glad that you visited them. Should be more often to keep the family happy and alive. That's father's job. :)
 
I trade dreams. (Mine :D)I live for trading. No matter how many times I fail, I pick myself learn what I can from the mistakes objectively, and try again. and again. and again. and again..................................................................................................................................................................................................................................................................................................................................................................................................................ad infinitum

However, actually doing a bit better this time around. It feels good, and I feel good. Like an highly conditioned athlete that just lost 20lbs...lighter, faster, nimble. Hope this continues, love this feeling :D
 
I trade for the profit, of course, but I also trade because I genuinely enjoy it. It's a good, fun, productive intellectual exercise.
 
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