Why Learning to Trade is a Lonely Business

Helenqu

Established member
841 3
Why Learning to Trade is a Lonely Business

"Don't be silly!" I hear you say. I'm in chatrooms, I talk to people on BBs, I meet fellow traders at meetings and attend seminars. It's not lonely at all!

I wouldn't decry the importance of sharing knowledge and information which is something all the above activities give you (as well as actually getting the feeling there are other people in the world and having the chance to step outside the door once in a while!). But I think anyone who is serious about trading needs to be prepared to spend lots and lots of time on their own. Thinking, looking at charts, reviewing trades via a logbook and developing strategies.

One of the things that strikes me over and over again is how cyclical the postings on BBs are, a group of newbies arrive full of enthusiasm and confidence that they will make millions in no time flat. Some will have a few good runs and think they have made it, others will lose a few times and slink off back to cyber-oblivion. Others have mixed experiences and start to read and learn about trading, some get bored and drop out. The rest and it's a minority, develop an obessional love for it, it fascinates them.
These people are entering an apprenticeship, which like any other professional training prgramme becomes a never ending process of learning. This model of professional development from education (NCRTEC, 2002) is helpful is seeing the circular process that is involved in mastering trading or any other complex activity.





The diagram shows how we initally seek information, read books, attend seminars, seek the "grail". We look to others for examples on which to model ourselves, we change our trading to mimic them. It doesn't work so we look at ourselves and consider why. We start to realise that we are "different" in subtle ways from everyone else we meet and that we have to find our own solutions but we keep looking at others practice for solutions to our current concerns. We help others along the path and we realise how far we have come but we never get to the end :)
 

rglenn

Well-known member
379 4
Nice post Helen

But is not only the trader that can get lonely - you can neglect your spouse also in that desperate attempt to find the Holy Grail!

My Wife has already voiced her concerns about it.
 

bonsai

Veteren member
4,106 10
that's why I stopped trading the Dow and now stick to Ftse.

when you start getting " Gone out , your dinners in the dog " messages

it's time to rethink !


Got to go now ................
:LOL:
 
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Fluke

Well-known member
456 1
I agree with the above about sharing your life with your spouse,thats also why I am learning to trade the FTSE and UK stocks.
Also there is more to life than just sitting in front of a screen all day[So my dear wife tells me].
I must say I really enjoy the challenge of getting it right some times and the thought of making some dosh.
I intend to do this for a long time god willing,but with more time to think of other thing too.
 

Fluke

Well-known member
456 1
bosai

After reading your reply above,your street cred has gone way up in my opinion.From the recent work you have put in on these boards.I thought you were on the computor day and night and imagined you to a bit like Toney Hancocks !!!.
Glad to see you get some stick from your better half too.
 

Mr. Charts

Legendary member
7,367 1,184
Thanks for an enjoyable posting, Helen.

I trade full time, (well usually 3 or 4 hours a day, sometimes a couple of hours later on in the evening as well), but my wife and three kids are totally understanding. They realise it's our living and I choose to spend and enjoy most of the rest of my time with them whenever possible anyway.
I started out on ESI when it began about eight years ago and I couldn't agree more about the "plus la change, plus la meme chose" flow of newbie traders. However there are many people from those days who are still consistently profitable and trade for a living.
They have several things in common.
They are humble and constantly learn.
They adapt to changing circumstances.
They are cautious and always minimise risk.
They are all nice people who are never rude - unless sorely provoked ;-)
 

bonsai

Veteren member
4,106 10
Fluke
:LOL:

it's a 2 way street
she still expects a new car every year, so I get a lot of rope.

she just tugs on it every now and then and of course, she got
to tie the knot !
 

ChartMan

Legendary member
5,580 46
The answer is to emigrate to Floriday and trade USA and have your cake and eat it..... My retirement plan. :cheesy:
 

rossored

Senior member
2,105 56
FANTASTIC IDEA CHAPS/CHAPESSES!!!

What about starting a T2W "singles" club for the ones of us on here who don't have any 'other halves' to worry about??

(Don't worry, this is meant as a joke! - anyone in the chatroom will vouch for my mildy twisted sense of humour)


Cheers,

RR (back from the pub after 4 pints.....probably wont seem as funny in the morning :rolleyes: )
 

Caracole

Newbie
7 0
Excellent thread. Continuous learning and reflection to improve performance is only surpassed by further reflection and learning
 

warm_machine

Member
70 0
Good posts. I think it's important to remember why you have chosen the career you have. For me trading is a means to an end, enabling me to have plenty of free time to enjoy myself and lead a healthy lifestyle.
 
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