October 21, 2020
A place where you can anonymously post your trading struggles
U loose money, loose more money, lose more. You are addicted. U cant stop. Loose money, loose money again. No money for a nice car. No money for a nice computer. Your broke…. Again U safe up for 3 years and start all over. You are loosing money again . Dont worry all you need is Discipline, right . O,well………
Welcome to real world of trading!
Success is on the same road as failure, it is just a little farther down the road
They told me I would be rich using 100x on BitMEX trading Bitcoin. Today I ‘m looking for a job at MACDonalds.
It’s about money management and risk. had a shitty week.
Spent 5K on a futures trading course, 1.5K on a set up. Did few months on sim, lost 1K trading micros. Did a lot more on Sim lost 10K on minis. Not sure what to do :(.
Trading is just stupid speculations, no thinking is involved, technical analysis never works, fundamental analysis is just news that appears after influence on the market??? nobody tells you that, you can make money now but you will eventually loose, impossible to become better in trading, only lucky candles
Trading will less money is insane, nobody tells you that, but actually i loosed almost 10k in 1.5 years, and working from home was depressing, feels like i lossed time and energy, before trading had gf, had lots of friends been social active, now – too less social contact with people eventualy i started feeling lonely, so now i have no friends, no gf, feeling lonely, no career, struggling with money. idk i tried hard to make money. hate trading, hate people who motivated me to trade, and gived me hope that i can make millions.
This profession has mentally drained me for the first time since 2015 when I started learning about trading at age 16. My stops are getting taken out time after time and nothing I do is improving my track record, I’ve read all the good technical analysis books, all the psychology books and back and front tested multiple strategies with different rules and I still cannot improve my trading. I have dedicated almost 4 years of my life to this stuff. I am only 20 years old at the moment and a lot of people tell me I am still young, but I feel time is ticking faster everytime a trade fails. Think hard before you decide to start trading…this shit gets advertised as the world’s easiest way to riches but it’s far from that…
Watch out for trading, its evil, its the devil.. it turns good men/women into addictive pieces of shit gamblers blowing up their life savings…
Even if you got a good personallity! Watch out! if u start doing it maybe limit yourself to very small accounts
Got in early August the last, crucial missing piece of the puzzle.
Spent the following two weeks studying day and night to assess and update my edge.
Went all in with the last 300€ i had to spare on trading, account ballooned to 11000€ after a devastating 87% drawdown when i got to my first 7000€.
Cutting back on risk and leverage now, aiming for slower and steadier returns, so far so good.
Will definitely switch to quantitative trading on futures someday.
It’s definitely a victory, but after 4 years it just doesn’t feel like it.
I quit my job after the crypto boom to become a full time trader (lol), made like 40k and had 70k in stocks. Now after two years i haven’t made almost any profit, i make some good gains and lose it in the next week. My net worth is about 70k atm, could be worse.
Thinking about going back to work and learning to trade better on the side. I’ll just use all my savings and be broke if i keep going like this.
rich in bank account but broker in emotional bank.
have no one to spend with the money I earned and I can’t share my emotions.
I’ll be a monk at the end i guess.
Started trading in December, tripled my portfolio in like 2 days with heavy leveraged trades (40-50x) and then all it took was 1 trade. I never used SLs so i lost like 60% in 1 trade, after that i just started taking bigger risks to make the money back i lost and in the end i blew my account. It’s a very stressful profession but i’ve decided to take this path, i can say those 2 days were one of the best days in my life. Since then i’ve researched and tried things out to see what sticks for me and what doesn’t. I figured out that i like the swing trader approach, i’m doing 3-4 trades a month filtering all the bullshit trades and just taking the ones that make sense to me. i’m up 12% in the last 5 months, i know that doesn’t sound like much but little by little… i’ll get there.
All you need to do is prepare. Up your knowledge of the macro, technicals, market positioning, timing, entries, exits, risk management, sizing… Just kidding, you’ve either got the gut feel or you don’t. Most people don’t. Accept it, move on and learn C++.
I’ve been trading for 7 years and I’m lucky enough to have done very well in this game – to the tune of around $7mil. I don’t come from money, but It’s almost like I don’t appreciate my position enough. I know thousands of people would kill to be where I am, so why do I deserve it? I’m super grateful, but have no real sense of perspective for truly how grateful I should be.
My worry is that I can’t walk away. I don’t want to be sitting at these screens when I’m 50 because I still enjoy it (currently 28 years old). Why don’t I just quit now? And what’s to say I won’t be asking myself the same question in 20 years time. Am I really going to be glad I’ve spent 12 hours a day at a bunch of screens? Or am I going to regret not spending time with my family, my wife, my buddies, my kids? Likely the latter. We shall see.
Most days I’m too busy watching porn on the internet and scrolling through Twitter, and so I miss the best setups. Often however, I find, the trades that work out best for me, are the ones I put on and totally forget about and then return some weeks later to find they are usually doing well. I think there is a lesson there. Somewhere.
Started trading before uni and it took me over 2 years to make money . I’m now make 4R ish a week but still not fucking happy and all I do is fucking moan at market and get annoyed I’m not making more money
A little over a year since I started trading. I tend to trade profitably for sometime and lose my discipline after a few winning trades and trade like shit.
The funniest thing about my trading is that whenever I take it easy and buy at resistance, I almost always manage to end up selling at support.
I still have my capital, but I am paralyzed to trade it. I see a trade set-up, I tell myself what I am willing to risk. Get every thing ready and fail to hit the submit button… I watch thousands of dollars move before my eyes all day, and don’t take any of it and end up hating myself for it.
For the first time since starting to trade four years ago, I was actually profitable all year…. Until August. By the end of July, I was up +$17k. On August 5th, I got completely on tilt and lost $17,684 in one day. The tilt lasted the rest of the month for a total loss of $28, 202. WTF. Oh well, back to the drawing board. I can’t give up now. What the hell is “Sunk Cost Fallacy” anyway?
I started trading. Now I’m broke. Goodbye.
Went to Uni, didn’t learn a damn thing about financial markets which was so disappointing. Was already buying stocks since I was around 16years old so I was expecting a lot of new stuff to learn at Uni, didn’t happen. Never expect too much. I funded my account with 2K. Didn’t really know how short-term trading worked vs investing but was really interested. After losing the first few trades I was like “fckng hell, got to figure this out”. Did some homework, most of it based on macro and a the basics of TA.
After a month or two I figure out I like gold and silver, both at extreme low, cot report was bullish, rates at the highs, etc. Gold at least back to 1360, silver back to 17-18’s. To me it was a great r/r for a swing trade. No I didn’t know too much about riskmanagement at the time. Making my first 100’s and 1000’s after a few weeks I was extremely happy. I close my gold longs and buy silver again at the lows, which was lagging. Extremely confident I knew I got this. I was long silver, first move up and my account topped around 16K in less than 6months. Felt good, really good.
Now the fun kicks in. I decide to quit Uni and become a fulltime trader after 6months and give myself 2 years to be consistent. This is when everything went south. I take 50% profit with the idea to buy silver back when it retraces, great idea ! I lose half of the profits day trading, I buy silver just below 15$ again. Still being bullish asf, next to my calculator seeing I should be up around 50K when it hits my TP at 17-18’s.
You have to know, the products that I traded are basically shit, called turbo’s, when the stop loss of the product hits you’re done. (you can’t change it) My confidence going down as silver is dropping more and more every day. It takes out my newly added position around 15$. Suddenly BAM, it takes out my last position. Guess what happens shortly after? It bottoms 10 cent below my stop loss, it goes bazookas. Account at 0€ …
Story of my life
Started trading April 2016, purchased every course I see in front of me (spend about $ 4,000 and a little more). After all this, I realised that these social media mofos are all getting paid for the so called courses and their information based on bull crap.
At the beginning of 2018, I search every single book that teach technical analysis, emotions for trading and risk management. I have finished reading and summarizing every single book of them (two/three books a month). Learning while trading. At the end of the year I made 25% on my account but don’t be impressed because the equity fluctuated between -50% and +55%. This is a red alert on the either percentage of risked on each trade or emotional or breaking the trading rules. It is the mix of all.
During 2019, I planned to trade aggressively and turn my account to the first $ 100k, everything was running smoothly and the account growing smoothly and it was only the next trade that willake me the $ 100k. I still don’t forget the time, the date, the reasons and the feelings. It was 5 am in the morning I just woke up to check on my silver short, when I slept at the midnight the trade was in profit and I was happy that this is it! The target $100k I will finally can quit this job and start my own project and businesses. About 5 am in my country on the 20th of June 2019 Silver sky rocketed because of political tensions and trump tweets, I fucked my account because of the followings:
1- I didnt put SL because my thinking was as the following: I don’t want to be stopped by wicks and I know it will reverse, there is no doubt.
2- I did not calculate my risk, because I want to flip the account and calculating will only going to limit my reward.
Guess what, it drained me emotionally, I completely fucked myself even though I know why it happened. I started losing confident in my ability and strategy.
In fact with this poor risk management and plan following I was able to almost reach my target, this mean my strategy and execution was on point, so why I am not confident anymore. I started thinking about Livermore and how crazy he was trading aggressively and losing it all without losing his self.
Currently whenever I tell any trader what happened to me, no one care or give emotional support, but when I flipping the account from $ 2k every one was happy and supporting. I realised people are looking for what they can benefit from materially or emotionally. If you drain them, you are on your own. Humans with no humanity, selfish.
Do I give up on trading, no. I realised what is wrong with me. I have placed set of rule to never break, and placed punishments for breaking them just to break the habit circle.
Now I am back at it, no need for the $ 100k target, as long as I am winning, I will reach and exceed it. Cheers
Hard to spend a dime with the family during the week end, when you took a 50k hit during the week.
25 years old. Spent so much time doing research. Always fucking it up with too much risk. I have an edge. I do well for a while. But take a look at the Kelly criterion: there is a way to mathematically verify that you WILL fuck up if you use too much risk, no matter how sharp your edge. I am my own worst enemy. Just spent my entire summer time off work to trade. I was up >15%, finished at >5%. Didn’t sleep much. Health has deteriorated. Depressed. Missing a family event now because I don’t have the energy or interest. I just want to shut the curtains and lie in bed all day. Some times I am in tears because I can’t stop this. Even if I make money it isn’t worth it. The solution is less risk, but am I going to learn from my mistakes? Hope so, but probably not. Sometimes I feel like killing myself.
After three properly committed years of trying to make it at this game whilst juggling a job in the finance industry (ironic), I have succumbed to the gods of stop losses and hung up my horizontal lines. My story goes;
– Discovers crypto
– Ploughs money into crypto and got lucky to an extent (not huge sums but enough)
– Experiences large figure swings on portfolio because he is a clueless cunt. Buys more. Sells some. Buys some more tops because he still has no idea what’s going on
– Loses c.50%-75% of portfolio value and eventually gets the remainder out. Feels like a stupid cunt.
– Puts money into FX and “gets serious”
– Discovers some mentors, some of whom I still highly rate
– Goes live on FX after studying properly for 3-6 months. Experiences FORTY PERCENT DRAWDOWN IN THE FIRST MONTH. “Ah it’s just bad luck”. No, it was atrocious risk management.
– Strips approach back and grinds account back up into the green (this was over a large sample of trades and worked out at c.+130% on the account value from point at which I “stripped things back”). This took about 6 months.
– Blows 50% of the account IN TWO FUCKING WEEKS because I got too cocky, oversized, went balls deep, all because I thought I had “cracked it”. Addictive personality turns gambler, so it seems. I hadn’t cracked it; I must have been smoking crack. Moron.
– Chased “the dream” and fucked it again
– Long days and nights at work trying to manage trades, get home and map the market, look for entries, chase losses, get up early after 4/5 hours sleep and try and plan for the London open before heading off to work, overtrades, all whilst nausing off my bird and close friends because I was constantly tired and turned into a grumpy cunt. It was fucking exhausting. I am fucking exhausted.
– Took a few months out
– Found myself a couple months ago trading the fucking 5 minute chart on XBTUSD overleveraged because my R:R of what I would lose to what I could gain was “worth it”. I didn’t mind losing a £5k at the chance of making £50k+. I was literally balls deep long 50x /100x on the recent bull run AND LOST MONEY because I was overleveraged, stop losses were too tight and the god of stop losses would bend me over, drill me a new one and the move the market higher. The gambler had returned.
– What’s sad is whilst I think I did grasp an understanding of price action, I think a large part of my failure came down to the fact of having little to no emotion attached to losing money (I am not wealthy) and as such my risk management was atrocious. It was gambling. Perhaps I had a problem I wasn’t aware of? I wanted independence, I wanted success, and I wanted it quick. I was greedy and I didn’t want to wait around for it. I got over the money I lost quickly but I’m still fucked off with my approach to it all. Having had a sniff at a pro-longed good run to then go throw it away again. Careless
– Muchos respect to those in this game, both winners and losers. Staying in this game is hard. Good luck.
PS. I’m short fiber to 1.1015.
I’ve worked on a strategy for years. It’s statistically, from tests and running it intermittently, far more profitable than any other strategy I run. I can’t bring myself to just let it go and work, it requires me to give up a lot of control. The worst part is the fear of failure. I’ve spent so much time and effort, that the idea of it not working has me paralyzed. I feel like it would all have been for nothing, and I’d never be able to recreate something as good.
I’m just barely in profit, basically a breakeven trader.
I don’t know what’s wrong with my system, it works great in backtesting.
I’ve worked really hard for this.
I can’t tell what’s failing me all the time.
I journal everything and analyze it.
I spend over 12 hours every day, almost all of them on statistical analysis and trying to find what’s wrong with what I’m doing.
Yet my winrate in backtests is around 70%, never below 50% in a 50 trade period. In reality it’s around 20%.
I can’t see any ’emotional problems’, or any of that crap.
It just doesn’t have the same winrate. Somehow, although I have strictly defined setups, in backtesting I subconsciously don’t notice the poor ones, although I don’t see the rest of the chart. Or at least that’s what I keep telling myself, regarding not noticing the poor ones.
It always looks like I just pick the losing trades automatically, like I’m really unlucky. Whenever I trade my strict system, those trades fail, and all the others that I didn’t take because I was away from the screen/focused on stats/etc are winners.
It feels like I’m constantly suffocating. This is the only thing I have.
Sometimes I think the universe just hates me.
Even with a 99% winrate, you can have 100 losers in a row, it’s just unlikely.
I guess I’m one of the people that is filling in that unlikelyness, so that somewhere, someone can have the 100 winners in a row with a strategy that loses 99% of the time.
Trading is one of the best Trap business of this world. It gives u the impression of how easy it can be to become millionare and then kill u softly time after time.
I have been trading around 3 years now, full time . I quit my job and decide that profesional trader was what i want to become. 10-12H per day 5 day per week sometimes 6… I have blow few accounts run out of money, wife support the family…
But i promise to my self that is this or nothing. I just has turned 30 years old and feeling the need of doing it this year cause if not… I will kill my self.period. No jokes here.
I have spend too many hours too much energy to go back to normal job.
So there is not going back way.
now I have 170€ account left for trading, 50h per week with a method that i think it could work so let see.
I hope it helps someone somehow.
Best wishes to all of u.
yeah, i was the guy who paid for ZEC at a rate of 5000 BTC per ZEC when it got listed on polo…i thought, wow what a steal, it’s the next bitcoin, and if i needed anymore confirmation, zooko was involved and said it was gonna change the world, even though he doesn’t actually specifically know how zero knowledge proofs work, but i dont really either, its pretty complicated. so i bought and held, and haven’t looked at the charts since. i still hope i can break even one day, ready for alt season for sure
Have lost a lot… wanna win now!
i am addicted to chaotic china trade war tweets
How I blew 500k in a few months. I will make this short and sweet. Over 3 years it took me to turn 10k into almost a half million. Before that 2 years to even become profitable. Someone very near to me was in lots of debt issues. I’m talking mortgage, credit anything you can think of, I paid it off. This took a huge chunk out of my account. More than 33%. After that I noticed myself straying far from my system. Taking trades that didn’t line up with my system, risking 4% rather than 1%. It’s to my speculation that I was trying to chase that money that I’d given away. Trying to regain it as quick as possible. Eventually I drew down 20% on my account (after the 33%), I then began betting huge. Over and over, loser after loser. Two week later I’d be left with nothing. It’s only been a month since and I’ve never been in a lower place. 3 years of hard work wiped in a few months. I have no friends little family, this was all I had. I gave everything and eventually it is now nothing. I have three options, uni, the bridge down the road or grind again. Not sure which path I should take.
I’d seriously love to hear if there are actually any successful retail traders out there! If there are I would love to know which, if any, educators they used.
I’ve used numerous services and different methods but not found one that works for me yet – mostly I hover between +5% and -10% on my account for the last 18 months. It’s just grind and I’ve lost all faith in these so called experts.
I still (somewhere deep within me) believe it’s possible to make money in this game but find it odd that I’ve not yet come across anyone who actually appears to be doing so..
First time I started trading was around 2013-2014 after reading several books and buying online courses or downloading everything there was online. Soon after that I joined a service which was a valid thing. Back then I had little money, probably around 3ke. I made some wins and actually made some money. One big hit, oversized pos in GS calls took away 33% of my capital. Closed out too soon and the trade went my way. Was devastated and still am. Fear of losing, loss of emotional capital. I started trading again after few years this winter. Took some losses and stopped. Was chesting myself that those losses were ok. No they were not. There was no plan. Ive made some money for a few years now since my other business is running ok and thought I start allocating it to the markets. Opened account with 25ke and thought im done and now this is the new start of my career in trading. It may be but not until I know what I want to trade and how. Im no long undercapitalized and actually think my business ventures have born bc of cumulating trading capital. To this point it has been maybe 10 years since I first heard about trading. Now I actually understand how things are done and seeing how others succeed still not being able to ”copy” them. I lack some things of the process like setups and big picture, order flow and levels. Risk management has always been too tight bc of those first oversized positions and undersized account. I have this rejection to breakout trading which is stupid bc my mentor only that very succesfully. Ive thought im more of a contrarian type of guy and would never take breakouts which is absolutely insane. I realise Its not about the system, rather than you and your knowledge and self confidence. Trust yourself and your system. Lack of experience can only be covered with gathering experience. I have some stupid beliefs still with me which clouds my game. Should compare myself to myself, not others who are already makkng tons of money. It’s my journey which is beginning. Ive already worked my ass of in creating a business which made me the money required to trade, almost there. Ive created entreprenial mindset which is absolutely the other half of this. You got freedom but the responsibility. Ive a family, they need food, Ive a mortgage, small kids. They eat a lot of money, and trading not the easy way to make it month after month. Of course Its just a business as other are too. After all, im near but lack some parts of the process. I think I find it at some point this year. I thank all my mentors but mostly I thank myself of trying to grow relentlessly. – JS
Been studying the markets for over 7 years, trying to learn this craft. Tried almost every indicator under the sun. Binned the majority. Eventually went live and found consistency with stocks. Like most I got incredibly humbled. I didn’t blow up but I am still recovering from a big loss a year ago. It has been a horrific process and trying to remain disciplined and agile as a discretionary trader is one of the hardest things ever. I’ve also tried a tonne of automated strategies. Backtesting works great over a large sample and then when it’s put live, the results don’t match or just aren’t worth deploying the capital for. Market conditions continually change. Edge is not what it once was. It is brutal out there especially for the ‘retail’ guy. If as much as a trump tweet can tank the markets, then that says it all.
I personally wouldn’t recommend this profession to anyone.
I lose whatever I make, in whatever I do. I “think” I’m about to turn the corner (again).
Here’s my story:
My father despised rich people, and wanted me to be a policeman, fireman, teacher, or anything with a pension. I went into sales.
HARD struggle, really hard, but I kept grinding higher in my career. I was late to the dot com boom, but had $1M in options at one point, but they expired worthless before I sold them.
Got into real estate just before the bubble burst, lost nearly everything buying the wrong property. Kept earning though, and found trading. Prided myself on never blowing an account, but kept losing. I’d move brokerages so I never had to admit I was about to blow an account. Finally blew one, and now doing $5k accounts, and blowing them.
am now down to my last dollars, and lo and behold, I think I’ve found my edge. But back to Dad. The internal conflict of money HAS to be a huge reason for those of us who fail time and again. I’ve worked on that.
Lack of discipline to follow rules also comes from your main life. I’ve worked on that.
Unable to deal with stress and emotions in trading? Also in your regular life. I’ve worked on that.
All this work on ME outside of trading is what has led me to not just finding an edge (I’m pretty sure I’ve had edges in the past, but when you can’t stick to rules, how would you know???). Those who don’t have the “wrong” background for making money in markets have a leg up. But those who learned that money is bad, and have shit discipline, are doomed to failure until we find a way to get over all that (have to realize it first).
Those who can’t make it to the gym, or eat right, or other discipline issues, will never make it in trading until they conquer themselves.
Bottom line, most are doomed to fail in trading for so many reasons. And the only way you’ll make it to the other side is by becoming a better person through and through. As for me? If I’m wrong about my new edge, I will be broke, but I will be a far better person than I was just a couple of years ago. I’m pretty sure I’ll know for sure within a month or two
I lost INR 2,50,000 in two years. (That’s only 6 Months Salary) It has changed me. Made me more realistic, more patient, more emotionally balanced. I will try to stick with my day job on which I get appreciation and satisfaction. I never took loans for trading, and not in Debt.
Only thing made me proud is being able to help others. every trader should donate. Never stop yourself from doing charity. USD 10 can feed 20 people a meal in India.
There is much in life to enjoy.
Laser beam focus these days. And for the rest of my Trading life.
Unimaginable what I achieve
so i started trading in 2013, made money, lost money and then kept loosing..
i think i have figured all the technicals the market has to offer but not the emotional part of it. i am active on tradingview and the chatroom, its hilarious…some traders are real gems there, no, i aint one..
there is this one guy or gal i dont know, goes by LA4440 , posts in chatroom, also mentioned the bitcoin bubble and suggested sell at 20k..
heck i am even in his telegram group, although i did sell some of it, i held on most of my coins like a dumbfck cuz like all, i wanted moon like 100k bitcoin baby…. now its worth shit and i do get suicidal tendencies, i put in a lot of money in it, but its all worth almost nothing now.. so i have switched to forex and stocks for now as ill just hodl my way along.. but god bless him la, the most valuable lessons i have learnt from him, he doesn’t know i am writing this, doesn’t know the deep shit crypto has caused but i can say i am wiser now,, not trading is a skill and emotional part is soooo bloody important in this game.. if one doesn’t have that then the best of technicals / mentors wont help.. so my advice to fellow traders – master emotions and you master the market.. have a great 2019, i hope to have one too..
i am done with this and i hope those still in it have a successful trading life.
Honestly, don’t why I’m still employed.
I make more than two managers above me, get on every bloody rally in the market and have laser beam focus.
What am I afraid of?
I didn’t go to uni because I knew I’d hate it. I wanted to be a trader. It’s been a year now and parents are beginning to pressure me. Now I’m scared and I don’t know what I’m going to do when the levee finally breaks. It might break me in the process, and I fear I wont get back up.
They say you sometimes you have to make the choice and jump
Well they forgot to let us know you can break your spine in the process.
I did break mine…No, trading hasn’t killed my spirit yet but it has killed me financially and has destroyed my relationships..But it has taught me one important thing and that is ALL I THOUGHT I KNEW ABOUT MYSELF IS SHIT. What do i plan on doing now?. Get a job even without much working experience in any field, gather money and then return to the LOVE OF MY LIFE “trading”
I am lazy. I watch charts and read twitter all day, but I take no trades. I do not have a trading plan, just a loose collection of set ups in my head. My bias is swayed day to day by traders on twitter. I have not put in the work creating a trading plan, doing the backtesting, sorting my head out.
I wonder if I am just a dreamer, and all my profits were just luck, and if I will ever reach a level of professionalism and consistency.
There’s no excuse for not doing the work.
Inherited 200k from Dad who died when I was 18. Have lived super frugally while pursuing this endeavor with not much to show for it after 10 years. I’ve had some success at times, ran a $1000 dollar FX account to 25k. Made 10k in a day on a different occasion but more or less breaking even/losing and having to withdraw money for living expenses which has dwindled a lot of that nest egg. Never really blew out any big positions just kind of death by 1000 cuts. Broker is the winner I suppose.
To add insult to injury I was in Ethereum fairly early… bot 1000 @ $7 then sold it all at $12 after the DAO hack. Over $1m opportunity cost and I missed the greatest bubble in history.
I wish I would have just bot a house in 08 and went and got a “real job”. That’s the thing that was so enticing about trading. Not having to slave away for “the man”. A regular paycheck, seems kind of nice right about now though.
I feel I wasted my Dad’s 30 years of hard earned savings. It’s brought me a lot of guilt. Like many others I feel that consistent profitability is “right around the corner” but is it really? I feel I have an “edge” that I’ve refined through my 10 years of experience and practice but my funds are low and can’t really take any meaningful risk anymore.
Would you like fries with that?
Dropped out of school to pursue trading. Still trying to cope with the all the stress. I’m improving every day.
I want to be like josh
As traders (novice & professional) we all have one thing in common, we all suffer from the Fight or Flight response ingrained in us from childhood. It takes a long time / blood, sweat and tears to reprogram this instinct. Even the best traders in the world suffer from time-to-time, but the difference is: They recognize it and stop trading for the moment, they regroup/reprogram and then back at it.
Trading is visceral and difficult even for the professionals but they’ve learned not to overly obsess!
For anyone struggling and thinking about taking your life, read this article….
Was feeling like shit and not gonna go into the details of why just life things and in the midst of it all I couldn’t focus on anything. Never was a great trader but kept trading like it was some kind of escape or something. It’s not. I lost more money even faster. Then I realized that trying to trade while my life was falling apart was just pointing out the obvious, I’m gambling. Then realizing that and STILL trading peeled back yet another layer to it all, I’m addicted.
I finally stopped. I got margin called but the point is I had these realizations. And what’s really the only valuable thing any one of these gurus can teach you? A magic profitable strategy? No. A secret indicator? No. A super slick platform? None of that. They can only teach you about controlling your emotions. The psychology. It’s the only thing any real trader is willing to pass on.
The psychology is exactly what I was lacking, (that and a good strategy, obviously).
I’m not gonna say things have changed and I’ve figured it all out since, but I’m more comfortable at the desk and I try to only engage the screens with an open mind. It’s helped.
Call it Zen, call it psychology, call it controlling your emotions or whatever, just make sure you find it every time before you open mt4.
I am on this journey since 2011. I started with the usual story few weeks on demo and the live account with FX broker. I got the margin call two months later and it was extremely painful experience. I decided to quit, but I found out that I have gotten it under my skin.
I decided that I will become professional trader and I will do the things the right way. My goal was to become successful in this game, not to make the quick buck. I have red tens of books and watched thousands of videos. In this moment I already knew that it will be very difficult and I will need at least a few years. I needed a job to make a living and gain experience and knowledge. I found a job as a professional trader for equity prop firm that trades on NYSE. I quit the job few months later and found a new one as a financial analyst, again, got some good experience and knowledge and move to the next one.
In this moment I knew enough about the markets and how do they move and work.
The next strep was to find how the brokerage companies are working. The guys that were sitting between me and the markets.
I worked for one and than was hired to create another one.
Experienced and knowledgeable I started trading full time and developing EA`s (forex robots).
In the moment, I am mostly focused on asset management and have a dozen investors.
The 1kchallenge2k18 is full of individuals utilizing bad business practices to win a competition instead of focusing on the process.
it’s fun, but annoying that we can’t just be real anymore.
The people in the competition would rather win than focus on trading.
making it unfun.
so i am trading cryptocurrency now..and i confess, i am addicted, even though losses are piling, i am still doing it.. sitting on laptop whole day, not giving time to my girl..boy she nags me soooo fucking much.. lost about $40k
that was me in 2016/17– i realised man its tougher than i anticipated.. discipline, emotion control takes one fucking long time to put in practice.
but last few months things have changed, truly understand one needs a system , some approach, some guide, some mentor, that one thing to make something out of all this mess..else i would have been a headless chicken..things are looking good now..not yet in profit, but recovered 80% of my losses.. the dump hurt, but i still made money..hehe.. hoping to see moon this way soon.. thanks to the one’s that guided me.. for new ones- find that shark, be the pilot fish, you’ll stay alive and get enough food to become a shark one day yourself.. all the best.
I’ve been there deep down
Can’t forget the days
When your bubble bursts
But you’re too deep in to back off
When it’s all or nothing
Only then will fate yield
And you know, you just know
I’m a F***ing Trading God
Nothing slips thru my hand and I stood the test of time
What’s my magic?
I don’t use a trading system I use a formula
Systems fail but still operate
Formulas, force you to put in the right components to get the right results
Ps: David is part of the elite. Trust him
Fuck you all!
Trade Drunk = Huge Losses.
I saw a flock of demons carrying a man away and I did not tell God on them because they asked me not to. I am now very wealthy.
I cannot for the life of me figure out how I am a profitable demo account trader but can’t have that translate into my live account. I just want a mentor who is genuine, successful in markets and even my friend. Not a fucking salesman trying to hock some shitty signal service or education.
I want to be independent and take ownership of my trades but I just need someone who can look at my journal and trading plan that can nudge me in the right direction.
I have been trading, I have been winning consistently for an extended period of time to go on a holiday and be unable to do anything right anymore ever since .
by now I have lost nearly everything I had and am about to lose the remainder (which is not much but still) .
The results I had were very good .. the best I have ever had +200% in a timespan of 6 months with a winrate of over 90% and a profit factor of about 4 ..
I have come to the point where I have tried more or less everything to get back on track but the succes has not returned to me.
For a while I have been thinking about what I would desire that required me to accumulate vast amounts of money and the only reasons I could figure out where selfish and thus invalid.
Right now it feels as if I am trapped between 4 walls and the only way out is up,
unfortunately the climb up is an hard one since the walls are slippery and time is running out as the walls are slowly closing in on you.
Being out of Ideas at the moment to continue the climb I sit on the bottom of the pit slowly running out of time..
I will confess that if I ever get back on track I might confess again about the solution for my problem but right now that seems all to unlikely to ever happen.
Good fortune to all traders and to be traders that have just read this message and that you may climb out of the slippery pit.
I am a gambler. But I cannot admit it. I throw good money after bad. I chase price. I have lost so much money I cannot face it. I am almost bankrupt. My wife does not know. yes we have beautiful kids.
It started out as a hobby. Then become a passion. Then became an obsession.
I wanted trading to change my life over the long term and slowly. But instead it has destroyed my life quickly.
I keep putting small amounts into the account. Trying to turn a little into a lot. Every time I blow it and lose it very quickly. I fall asleep crying and shaking most nights. Tears are in my eyes.
I am a gambler. I do not know what to do.
If I stop it is over. The music stops and I might end my life.
Before you start trading I strongly suggest you consider your motives and whether you a potential candidate to become a gambler
Blew my first account today i had my analysis on the gbp soo right but i entered the position to early and got f***cked up
I have been studying since the beginning of 2015. Did a 9 month course with a very succesful trader. I understand the different working parts of a trading system, I know how to map the markets, understand position sizing the works…the sad thing is: The losses I endured from the time I traded before taking it seriously are deeply ingrained into my system. So now I just sit there, watching my screens, seeing my targets being hit, just to afraid to enter a position and I feel like fucking loser…
I”ve been trading since 2000 – when my granddad gave me $1,000 to start off with. That was my first year at university. I lost is all in 2 weeks trading the JPY….
Took out a student loan advance to trade with, learned from my mistakes and became profitable. Paid off my loans and subsequent university fees through trading, settled my wife’s (we were dating at the time) student loans a few years later through trading, bought our first house through trading, cars etc etc.
It’s a a tough tough career – but ABSOLUTELY worthwhile if you have the right mental attitude. There is no place for EGO, Fear of Failure etc. It does not suit everyone and the only freedom it provides is financial. All other freedoms – time, family, friends, experiences are given up in exchange for financial freedom.
I’m 37 now – but look around 45…. grey hair, old eyes, blunt emotional responses and socially skeptic. I’ve nearly made enough to call it quits – maybe another year or 2 and then we’ll start travelling the world!
Chase the dream but be realistic.
Accept your shortcomings – both intellectually and mentally
MAKE TIME FOR FAMILY AND FRIENDS – relationships matter!
Proper money management is by far the most important aspect of trading – getting the perfect entry and exit etc not so much…
Indicators look back and are nearly useless – rather get a “feel” for your chosen market – understand what makes it tick and where the reaction levels might be
Finally – Try and Enjoy it.
my 2017 year to date… up $160,000 within the first 5 months…. by the end of july my account was down -$120,000. By the end of august I’m flirting with $0. All the best trading oil markets
Most prop shops give there trainees 12 weeks to become profitable.
50 hours a week x 12 weeks = 600 hours. Sometimes the hardest decision is saying enough is enough.
Bought Bitcoin 2 years ago, traded it up in spectacular fashion (up ~25x in ~5 months) and when standing on my equity curves I get scared of the height.
Honestly I’m really scared what will happen to my equity when this shit starts to turn bad.
There’s a lot of bad habits that made me a fuckton of money (like FOMO’ing in late) that WILL get me bludgeoned to death if I don’t manage to recognize quickly enough when the odds have turned.
Just a very sincere warning to myself and others in the same spot. Making money in this raging crypto bullmarket is easy as fuck. Losing it will be just as easy, if noet easier. I did that in 2014-2015 by just holding stupid shit and going on vacation.
Recognize the shifts in the currents or you will be a dead fish soon enough!
Recently I read a tweet by @TradeDante that went something like..
“I hope one day I don’t lie on my deathbed and think “why didn’t I do x”
Oh I know because I spent 14 hours a day watching a fucking chart
For me this put a lot of things in perspective. 1) Is it worth it spending thousands of hours watching trading videos and even more hours staring at charts in hopes that one day I will become a great trader and make money year in, year out? 2) Is it even worth it?
Reading through these posts it’s really sad to hear how pursuing trading has caused many people to lose friends and family due to the amount of time they would spend trying to become a “trader” instead of building friendships and enjoying the little moments in life.
I started “trading” about 3 years ago when I was 22 and now at 25 I look back and realize how much time I really wasted trying to pursue this goal. I probably lost a thousand dollars in this whole trading gig but whats important is just Friday I closed my trading accounts and deleted any and everything related to trading from my life. Felt good to finally have the pressure off of having to be checking markets at work or in front of them on my days off.
Lets face it..The real money in this business is in “mentoring” or starting a “trading group” for members to pay and join. These guys are easily clearing 6 figures a year while you’re still beating yourself up over why you keep losing trades but they will keep telling you its your psychology or you need to just give it time –aka “stay in my group and keep paying your monthly subscription idiot.” (**not referring to TraderDante here as he’s one of the few ones that actually will tell you how this game really is but referring to those that if you’ve been in the game a few years you already know who these people are)
Forget about these charts and forex pairs and futures contracts that have probably taken over our thoughts and life and instead of saving money to dump into your trading account actually honestly ask yourself if this retail trading game is worth pursuing because for me its not anymore and hopefully others can re-asses themselves from an honest point of view.
I sold at support and bought at resistance. In the same day.
I keep having really bad spells then when people ask me how it’s going I tell them it’s going okay. But really I’ve blown an account in the past 2 months and also lost 1/3rd of my new account which is £1000 so I do not think it is going okay. I make good trades but get greedy and struggle with taking profits.
It is becoming a bit of a circle but soon I know I will be doing better but right now, I need to work on my inefficiencies.
I trade for almost 4 years now, still losing, lack of patience, still not proper edge and ect. I can say this, don’t sacrify all day looking at charts like junkie, it’s makes you more emocional ir less quality trades. Now started to look at higher time frames, flow with them, not many entries but at least not starint at screen all day and making things just worse.
Thinking You’ve Overcome Stress But Actually You’ve Just Got Use To It.
Driving the van to the coast on single lane carriageway, with dense oncoming traffic. An idiot, traveling in the opposite direction, pulls-out to overtake. I have no option but to slam the breaks on & the idiot has no option but to try to accelerate out of his /our predicament. The sudden braking is too much for my van’s ABS, the wheels lock and screech and I drift broadside towards the oncoming and accelerating idiot. I feel strangely calm, fully aware of all governing factors. I know that to attempt to steer out of the drift too quickly will cause a lethal whiplash action which will be uncontrollable, so I time my exit to the drift as late as possible: as to gently come out of it in a controlled fashion. At the last moment I steer the van out the drift and the idiot passes – both of us defying death (all very James Bond). I slid to a halt, enveloped in the blue smoke from my tyres. I felt calm but knew that wasn’t really possible given the stressful situation I had just encountered ……. it was at that point I realised that the zone I was in, was the same zone that I encounter everyday in the markets, I just deal with it, BUT the stress still remains: worryingly hidden.
I feel like I am losing myself. I still have my account, but have gone through my savings, and acquired some credit card balances….. I am spending day after day in front of my screen… NOT placing trades because I am scared of losing the $137 I need to keep my $25,000 balance— I have never been so paralyzed by fear in my life..and I’m a nurse who’s seen people not be able to breathe!!!. I think I should get a part-time job because I think I might trade better not feeling so pressured… then is it summer time, markets are acting like they are topping,,, which has me even more afraid. It’s the fear… I hate the fear. By the time I get my nerve, markets have quieted down and there are no moves to make…I don’t want to work in the hospital again though. I want to make an income from trading;;; and I keep finding my ego, everywhere I look! Resenting people I’ve learned about trading from because they are successful at it and I , so far, am not. I almost hate that more— not liking them. I have held losers too long and forced trades. Those have probably been my biggest crimes! Not sure where to start over at.. Paper trading? 1 share positions, just so I can start entering again?I see a move start to happen, and am afraid to enter, that I won’t be fast enough. I feel traumatized from a couple of bad software experiences and seeing massive spread jumps. It sucks. It just sucks to watch all this money go buy and be afraid to take some.Talk about low self esteem. Jeeeesh!
Well…I’m 46 years old. I traded successfully (from luck) in the dot.com bubble 1998-2003. Best years were ’99 and ’00 made 50k then 164k. Gave it all back in ’01 – ’03.
I now have a lawn/property maintenance business (just me, no employees) in it’s 12th year.
I don’t make that much money…maybe gross 25-30k per year…and net something like 10k after expenses…..
Anyway, managed to save 50K over about 8 years of hard work…..Started again in 2014….I started again with stocks using the broker sure trader. small account at first $1200, which gave 6X leverage. Blew it in short order…July 29, 2014 my best friend died……Was and still is a tough time……I carried on trading, I would put in 4-8K at a time and would build it up with 80% win rate, which means shit, because once a stock got away from me, I’d add to the loser to try and “dig” out of the hole, while reality is I was digging a bigger hole. Suretrader accepts credit cards and I have golden credit, so started putting money on credit.
Same mistakes over and over…..adding to the losers. Almost like I can take a small loss, but once it gets into the high hunderds or a few k, I give up and add, add, add until gone.
I switched to futures this year… The ES and then the NQ. Down year to date about 17k. total losses since spring 2014 roughly 75-80k plus alot of mental anguish and feeling VERY suicidal….Sickening!!!! Unless you’re rich with PLENTY to risk, just stay away!!!!!! Maybe we’re all masochists! Btw, I have the pleasure of having to live back with “mom” with my fiance for now….How fucking proud!! (sarcasm)
I have been looking for market crash since late 2015.
I started betting heavily in early 2016 and kept addin short. I’m near bankruptcy and lost everything I own.
Don’t ever trade ever
2001-03 made a small fortune, 2003-2005 lost the lot. Started again in 08 made a small fortune by 2009 lost the lot, and on and on it went. Thought l had it cracked by 2012 and lost what l made by 2015. Starting again using ICT concepts for last 18 mths, and finally coming out of the shit. If it wasn’t for ICT, l would have quit 18 mths ago but now l see daylight. To all you guys and gals learning from these concepts, keep going. Suck up the losers and accept it as quick as possible so you can let your good ones run not your shitters, and if you feel like you are gonna have a heart attack over the trade you just took, then your size is too big for your acc, l should know, l did it time and time again. Just took forever to kill that greed gene.
I’ve been learning trading for 3years now as ive come to a conclusion that it’s utterly bullshit. The pain has caused isolation and apathy in my life. I literally spent hours and days just to be profitable but no progress , I was even suggested to learn ICT stuff but majority of his work bullshit accept OB /Breaker etc. I’ve realised there more teachers than traders and it grind my gears that these fuckers are brainwashing folks for their courses. Can you really be a profitable and live the millionaire life like these so called traders, if so please email me.
11 Years trying to make it, studied 12-14 hours a day, learned Easy language, learned C#, developed hundreds of indicators & strategies, back-tested.. lost tons of money…
No friends.. no money, no girlfriend, no nothing.. 11 Years. 11 Years. 11 Years.
there are no “Pros” in this game, even if you make it, you would have lost so much more… relationships, experiences, people.
For many of us its too late, if your reading this trying to rationalize whether you should bet your house or not in trading, or even $50.. DON’T. cause once your IN you are done.
I’ve been exposed to trading now for about a year and a half. What I’ve learnt is that trading is not for everyone.
It takes, firstly, someone with the funds to be a trader. I believe that money that funds an account should NEVER be spoken for elsewhere. That includes credit. Only those with truly SURPLUS income qualify. Those who worry about losing the money in the account clearly cannot afford it. There are countless other ways to invest money.
Secondly, it requires, for me at least, that I become a different person in front of the charts. This is hyped by gimmicks like “trading psychology”. In literal terms, this means being defensive before being offensive. The Art of War says that the ultimate warrior is one that lets the opponent defeat himself through patience. Think of trading as the biggest war and yourself as the commander. You face a much bigger opponent- you cannot attack him head on; pull get CRUSHED.
Lastly, I’ve learnt that one needs to be apply a combination of logic and probability into their thinking before becoming profitable. Worse, is that these tactics are likely to be most profitable if there is some leeway in your application of your rules. The market is not straightforward. If it were, we’d all be rich. There are people much smarter than ourselves trying to outwit each other in this game.
Trading is a war in which the commander must be willing to lose every single man he brought into battle
started with 1 lac rs, max i went to 22 lac, all my money invested , then stupid trades after the other, my net is worth 3 lac now, my total savings of 6 yrs..feel like committing suicide.
if you dont have a backtested method you deserve to lose
After blowing out an account a month ago, I literally kicked myself in the ass and got my shit together to discipline myself. Sometimes the only way to become disciplined is to get your own ass kicked physically. Now I think twice before clicking that trade button. Cuz, if I hear that little gamblers voice in my head again and I get trigger happy with the mouse then I’m gonna give myself a good ass whooping. Physical pain stops me from doing stupid shit. My equity curve is finally starting to look nice and growing steadily. Got rid of that stupid get rich quick mentality and I’m on my way to get to accomplish my life, trading and financial goals.
I have been on point for quite some time now, i am not emotional about the performance i am simply trading the setups and repeating the process. I am setting myself a challenge to be the best trader there is, this is more of a vocation for me than anything else. This is my spiritual journey and this is m confession.
Entered a short position on GBPUSD during Election close at 10pm UK time. Long story short it back fired and I lost 20% of my account lol ¿
The market does a great job of making me feel stupid— for not taking her opportunities. I feel like I just sit and watch money go by all day not taking advantage of set-ups when they come. Then when I finally do enter a trade, I either play to small, afraid of losing; or I don’t take a small loss when I need to. Not all is lost. I still have my account, and only a couple of thousand dollars down. It has been months and months of learning though. I feel like I know what I need to do different— listen to myself and trust my instinct along with the charts—-but doing it seems to be another thing so far. Tomorrow is another day…
Well… it happened again. 7 months of hard work out the window. I consistently built up my account and grew it exponentially nearly quad-rippled my account.. I was making money left and right, journaling every trade I took as detailed as possible. Then my ego and greed stepped in I lost track of the higher timeframes and their influences and got too comfortable and lazy not doing my due diligence. I began taking too large of positions and would make 20-30% in minutes scalping even though I am not a scalper but a swing trader scalping screwed me up in the past few months. It caused me to not focus on me edge and just screw around in the market and today 7 months of hard work went out the window just because I decided to to go long on EUR/USD while over leveraging and getting the dreadful margin call. As much as this hurts me very bad in my heart and emotionally and psychologically, I expected this to happen and I was anticipating it to happen ever since I got too comfortable and lost focus on me edge. I will look to rebuild again and learn from this mistake. This is the 3rd time this has happened. Each time this occurred my consistency grew by 50%-100% and I was much more profitable after restarting and learning from my mistake. My only problem is that I really need help with managing my emotions and psychological help in trading. I would really appreciate any help or suggestions or resources. Thanks for reading. [email protected]
This is specifically for all the gutless fucking “confessions” here. And there are so many! I gave $40K to crude oil one day in 2012. Yeah, fuck all you “I blew up various small accounts” wankers. I added lower, then added again, then my broker gives me a margin call JUST AS THE MARKET TURNS.
That $40K was pretty much all of my savings at that point. I worked hard at my profession and “made it back”, but god dammit if I do not regret that day. To all of you silly twats knattering on about how blowing one’s account is “tuition”: you can go fuck yourselves. It’s stupidity. Plain stupidity. And over time, the real cost is staggering. Think about what $40K would earn in 20 years appreciating at 7%. “It’s a life lesson. I’m a wise trader now.” BOLLOCKS.
I trade a $400K account now, but I don’t have swings more than one or two percent in a month. Recently I decided to trade UVXY…80 contracts, short call vertical. What could possibly go wrong? BOOM. Lost another $14K on that one. Had I sold the spread a few more weeks out, I would have taken some huge heat but I would have ultimately made money. As a result of that stunt, my account is hovering near breakeven for the year. It is June 2017 as I write this. Shit, even if I was up $14K, I would still be at breakeven for the year. Think about that, you silly wankers.
I especially take issue with the idiots “humble bragging” here about winning a competition or having a super enlightened mentor. Fuck you people. You know nothing of what it takes to trade… even what it takes to simply break even. You’re liars, or shills for fake gurus (i.e. liars), or you are too stupid to know what is coming to you when you actually commit to trading.
Enjoy the coming inferno to your accounts.
That is all.
I was fucking my girlfriend last night but all I kept thinking about was trading /CL
I’ve finally learned that battles are won before they are fought. For me, no more aimlessly staring at charts while my trades do their thing, from now on it will be just me,my spreadsheets and a ton of hard work sorting out and collecting data. Less mental fog as well. Would have never done it if i knew it beforehand. Or at least i would have jumped straight ahead to collecting data and saved a good year instead of wasting time between staring at a computer screen and reading psychology and self help mumbo jumbo.
If only that damn equity curve grew faster…
Trading was difficult till DJC showed his charts. Easy as shit now. just keep it simple and DJC please put up a link to your youtube videos!!
By sticking to my strategy and respecting the rules outlined, i have gained the level of stress free trading that i have always worked towards. I have had 6 days in a row with no draw down. I will keep on at it and carry on with this run.
I came in 3rd out of 591 in a trading competition winning a prize of $1500. Pretty proud of myself!
I make good money trading small positions and lose it again every time I try to trade big .
Trading for about 2 years now and my biggest problem is not knowing how good I am. I have weeks where everything I learned line up and doing the trade feels so natural and obvious and then there are weeks where everything I learned line up and doing the trade feels so natural and obvious and I get stopped and start to doubt everything I know. Then I wipe out all the gains I made the week before. After this the cycle starts again. It’s a constant switch between the two.
I always know my, small, risk, don’t move my stops, don’t use indicators and always follow my rules but it’s like pressing a switch from week to week. I know that 2 years is nothing in this game and I know that I will keep on studying and finally make it but for now it feels like I’m stuck in this circle and it take a lot from me and sometimes gnaws on my discipline and motivation.
I’ve been a trading loser for about 5 years now. Winning and losing it. I have no self control but my determination to crack it has drawn me back again and again. I’ve done demo accounts, £1 per pip consistent trading and then I go wild with £30per pip and scalped rewards of ~ £600 in under 15 mins. Of course I have it all back. I’ve restarted with the intention of nailing my self control about 6 times. I get addicted to it, I start of well with self control then find myself looking hard for trades and entering them almost as though I’m not conscious of it. I something’s think what the fuck did I enter that for. My biggest problem has been having no trading plan. I have no written a trading plan based on 8/34 MA crossover and have printed off a template on A5 cards that I must complete before entering a trade. I have just signed up with another account and have been keeping an eye on half a dozen markets/currency pairs for a couple of days. It all looks so easy to apply your plan when you look over old price action, but the confidence is lost when looking at price moving on the right sir of the screen. I have a gambling nature and am an emotional bitch. I’m not sure I’ll ever crack this but I’m trying again. Probably lost £15k over the last 5 years. Cheaper than university anyway. I fucking enjoy it too
I’ve been trading for close to 6 years now. blown up multiple varies small account. i thought i saw the light of the tunnel when i thought i’ve found the strategy that suited me. been through the cycle of indicators, price action, getting a guru mentor, and is now sticking with simple abc setup. i thought i saw some light there when my equity curve started to tread upwards with decent RR. but shits always happens midway and my psychology screwed the shit out of me.
i stacked on my losses, removing SL, trading on my mobile phone for a quick buck which end up blowing my account, increasing my lots size trying to chase back my losses, reversing my position trying to get even with the market, and many more shit. lossing 15k for the past 6 years on this venture is a small cost to my overall net worth. but what hurt most is getting no return when u put in this much of hardwork into it. i guess i need to take a break before getting in to the game, and this time, i hope it will turn out different. i need to be discipline. i need to be consistent. i need to be fucking want it.
16 months in, 1 blown $500.00 account about a 1 year ago, studying price action with guidance from a mentor to the point of exhaustion every day, every week, roughly 40-60 hrs a week on top of my day job since Feb 2016. Now, since February 2017 i am +16.3% trading micro lots on a small account, focusing on risk parameters and waiting for price to come to me. i have learned and continue to learn from my mistakes and reviewing my journal every week. My thoughts and feelings are written down with every trade. I enter the markets on average 3 times a week. I review 6 – 8 pairs every weekend before market open. Could I trade more? Sure, and I did in the beginning. With wreckless abandon, no discipline, emotional trades amd I lost. I am still a noob to this, however I understand now what is needed to survive then thrive in this game. Focus on your mind, on yourself, develop patience, develop discipline to stay out of the markets until the optimal time, YOU HAVE TO DO THIS. I will be successful at trading. I will teach my children how to properly trade. I will. Good luck to all of you and God bless.
Trading is for rich. Need to make 10% yearly would be already GREAT result. Now. If you need 60k (example) to keep your actual lifestyle….That means you need 600k in your trading account.
All the rest is just a waiste of time and money…..Or u have A LOT of cash in order to TRY to make AT LEAST 10% annualy or u better quit and go and find a serious job.
I have a confession for @sirdavidjcooper site: I didn’t take the GBP/JPY trade last night.
First time trader feeling cautiously optimistic : >
i am here around 11 years trading to do daily $5 on average but not able to.
seen big losses and small gains. lost money in algo trading. and believing in regional manager calls given .
its hell here to be stucked here .prefer to do physical labor and earn few dollars but age and no experience gives me only this option
This is tough game and blowing up a few accounts is part of the process. It’s called paying your tuition and ultimately if you stay with it, it will lead to a right of passage. I’ve blown up a few accounts and my goal this year is to finish break-even. Once you move from losing to break-even, the next step is profitability. Remember, the goal is to play small and make consistent gains. Eventually compounding, will lead to bigger gains. Learn to lose first before learning to win.
2 yrs, my tech is really good, mostly i can find what a stock will do,
but i somehow am still afraid to bet any money on it! lol
man you gotta be disciplined in this casino!
have lost a shit load of money, 4 years in a row! addicted to the game, what a high it gives, up and downs, profits getting bigger! lamborghini in sight! lol..
but in losses , at small loss i exit, but on big loss i just stop caring about it, its insane. dont know why it happens, blew up 1 account, took a loan, blew that too..
it sucks, but i love it..
Trading made me feel worthless before I remembered how much my organs are worth on the black market
After 2 years of demo accounting I turned £20 into £1200 trading Cable and Fiber in the 12 months leading up to the Brexit referendum. Trading small and infrequently, slowly grew my account and didn’t put any lump sums of capital in.
Thought I’d cracked it until the referendum result, the flash crash and then the US elections. Nothing I did seemed to work anymore, so lost it all. So now starting again, from scratch, with a proper plan that ought to prevent me from taking such losses in changing or hostile market environment.
I’ve learnt ALOT in the last 12 months, both about myself and about my trading.
Make great money then I get fucked with swings in crypto. cant get my greed out of the way. sometimes i smell my fingers after i scratch my asshole just to stay sane
I subscribed to Oceansky’s Mentortips once. So you know how that went….
i still hold 1 dax short at 10936,40 and 1 at 11150 since december 2016
im fckin killin it but i masturbate too much doing it that my wife thinks im having a girlfriend on the side
up shit creek w/o a fucking paddle!
bought $1200 worth of Etherem at .33. Sold it all last year, average price of $16. It was al 140 last week, I can’t bare to watch. Left 500k+ on the table.
a recurring theme in here is that we make the same mistakes again and again. Read about Taoism.
bought 10k worth bitcoin at .10.
I have lost 16L in Trading and left with hardly 40k inr.
Everything is really fucked up,but still looking for a way to recover everything
i sold all my bitcorns for unlimited bitcorns and lost 1.5m so far
biggest loss to date 11k .
Had 5 losing years and combined 6 figure losses. Found a mentor. Took 2 years to make it all back plus. Been prfotable ever since. Evwn started teaching others. You can not do this on your own. Find a pro willing to teach. The cost of education is pennies when compared to losses taken and future earnings! Stop wasting time.
Started trading in early 2013 thinking I knew everything, having spent the past 3 years on self development by doing lots of trading courses, demo trading and trading small account sizes. I was doing all the right things, trading price action rather than indicators, having stops at areas that made sense, risk per trade was small and so on. In early 2013 I made slow progress didn’t make anything or lose anything but then I started to lose and naturally tried to make my losses back, so risked more per trade, was not patient… you know the drill, kept digging a bigger and bigger hole. In 2014 I was going to get married and I had pissed away nearly 10k by now. Luckily I was able to slow the losses by not trading much and I had a good job which I have kept until today. So the wedding went and started trading again properly and kept losing money even though I was getting better. By late 2016 I had accumulated losses of about 25K. Nearly all of my savings blown. But I felt I was getting there and I just needed to refine a few things, mainly my emotions before I could make it. Then in Dec 2016 I went on a winning run that lasted well into March 2017. I made back a big chunk of my losses and was doing all the right things, felt I had control over my trading and emotions. But the run ended by the middle of March and went on to basically lose everything I had made in the preceding months.
So here I am in late May 2017, spending another weekend thinking what a fucking prick I am. If I knew trading would be this difficult I would not have done it. I don’t encourage anyone to get into this profession. Sometimes it feels like you are gambling when you are in a drawdown. You lose the objective of why you are trading in the first place. Because of trading my health has deteriorated, the stress has impacted my relationship with my friends and family. Oh and I have now accumulated some debt on my credit card, due to trading losses. The worst part of it is, you can’t stop trading once you start because it does become quite addictive.
But the only thing that has kept me going is my day job, and a joint savings account with my mrs. The savings account forces me to put money away when I get paid from my regular job. So at least I won’t go broke if trading doesn’t work. But I still feel like I am getting very close to success and that it is only a matter of time before I make it. I really hope that I do and it better be fucking worth it!
i started trading somewhere in 2012. 5 years on i’m more or less break even excluding books, courses and other expenses. judging from other confessions i suppose i’m doing great getting nowhere.
I am shy about sharing my progress and that has held me back for a while. Lately i started sharing my ideas and charts as well and i welcomed criticism and for that period i have been able to see from other peoples’ eyes and in this tough market conditions i have found a lot of calm and satisfaction from my day to day trading. I wish to continue fighting off my urge to hide and give myself a chance to share more and learn from this experience. I will lose and gain but my attitude towards growth and progress will not change and this is my confession.
I have made back USD 500k I lost last year on USD/JPY in March and April, I think many people have too small capital and trade large amount and highly leveraged that is why losing money. If one trades at 3-5 times leverage and won’t lose.
Fuck AUDUSD that’s all you need to know!
Make a killing just to lose it
I have been trading on and off over 17 years, when I first stated I had no idea of what I was doing, made a few gains on some trades but mostly blew account after account, at the time I was earning a good wage being self employed so could fund my obsession easily, but after about a year I decided I could not carry on like this, had a break only for a few weeks, when I started again I started trading very small size £1 per point not the normal large size I used before then gradually over time I started being more consistent , increased my trade size from £1 to £2, £3 ,£5 and so on, my account started to grow I had weeks with losses but steadily grew my account with my largest trade gain to date of £5250.00, trading app £50 per point, had losses of similar amounts but grew my account to app £25000, before the wheels fell of my wagon and almost lost the full amount after shorting the Dow Jones 30, this happened because I thought why is the market always going higher it must have reached the top, a fatal error that traders should never make, to predict tops, after that I was mortified felt sick and not in a good place, But stupidly kept trying and failing , until I packed it all in.
That all happened back in 2003 to 2004 but I started trading again in 2011 thinking I could possibly do it again but sadly it ended in disaster again losing large amounts of money it turned into gambling it made me very ill stopped again, but started again around 2014 still no real improvements still losing large amounts up until app the beginning of 2016 starting making gains sometimes making up to £3000 .00 but unfortunately giving it all back time and time again, up to May 2017 but at least only losing money that i have made which is a huge improvement I feel now any time soon I will be a profitable trader just have keep battling on.
Because I have more patience now and wait for trades to come along and not rushing in, it has helped me a lot.
I lust after Vinny Emini’s Trading computer 10 screen setup on YouTube. True confessions.
I used a demo for 8 months on a certain strategy while I was savings money for two years to open a live account. Then I saw my trades where not consistent I subscribe to signals then I blown my account. I am now going back for job hunting while trying to find a good way to trade better.
“Poor man, rich dreams” – 4 years have past, blowing demo acc after demo acc they don’t seem to last. Testing a bunch of strategies learning even more in the end I see negative/loss in the spreadsheets on the floor. I stopped going out with my friends lost them all like I lost my dreams and my only one goal. Unemployed with really nothing to offer nothing to show really hoping that my girlfriend won’t leave me, won’t go. That’s my story folks nothing more than poor man, rich dreams 😉
P.S. Its not a book its an emotional freedom.
Been trading nearly for 5 years. During the time, i had lost my hard working savings nearly $75k. Lost my soulmate because i lose the money to be use for marriage. Im 33 years old and back living with my parents now. I’ve lost everything good in my life doing trading. My biggest downfall is using no stops and averaging down on losers. Every night i think to end my life but im too coward to do that.
These market swings are doing my ‘ead in. One minute I’m a millionaire, the next I’m not quite, then I am, then I’m not again. ffs, do I open this champagne and spark up a cuban or not?
Spent last few years trading and lost a fair bit of capital. My biggest mistakes were looking at anything with a lower timeframe than daily, trading large positions, small stops, checking p&l all the time, chasing a move that had already started, over analysis, trading before a candle completed. Recently improved by moving to longer term trades, smaller positions, wide stops, letting trades run as per trade plan loss or win ( you put your stop where you did for a reason) keeping to risk/ratio, limited exposure per currency, check p&l few times a day and charts keep to simple channels on 1D. There is no get rich quick.
Been trading since 2013. Ran account from 8 to 20,000 pure luck and bad trading really. Quit my job and proceeded to day trade . account eventually whittled away, usually grinding out results then big 1000 pound loss on one trade. over leveraged or unwilling to take loss. Was living in a box room with fuck all money. near went flat broke living on pennies.
Managed to get contract on old job for 6 months, then quit job again 6 months ago. to give it another go. at 35 and more or less 3yrs out of work , I really have to make it in trading now or else i am fucked!
still struggling to attain consistent results. On the plus side , I finally know what I am looking for and have gained control over myself and developed great patience and no longer revenge trade.
My current evolution of thinking, is I believe no matter what my entry or exit strategy ,I truly believe it will be my ability to protect my downside, by reducing risk when i am in drawdown and grind out of it even though may take longer . I truly believe my control over myself and protecting this downside is the only way i will have a postive equity curve. Perhaps in a few years i will think different
I have blown four accounts this year. I am a fucken loser. But atleast its nice to know im not the only one.
Ive been Trading about 6 Years and got psychological killed by the Whipsaw of Emotions sitting trough overlevering, Margin Calls etc.
Sometimes i think im so much traumatised i will never make it.
God Bless i found somebody who helped me up.
Lost a lot of money and time over the last 4 years.Told to get a proper job by all my family and stop wasting my time on the computer.Followed many so called gurus and then find out they struggle the same as you. There is no magic bullet and you will not get rich in a couple of months.On my experience i have found the only way of making any money is price action and money management.Trading will piss you off on times but i love the challenge and the buzz you get when you win.
I started trading 3 yrs ago and I not long after I realized I was clueless and this drove me down a path I never thought I would be follow. I have debts accumulated from this short period. The past one year has been eventful, I have managed to work out a strategy that fits me and it has taught me to be disciplined and to stick to my rules no matter what. It has vindicated my struggles and I am looking forward to better days ahead.
every weekend i go through the same depression and then by sunday night i think i have a good plan and am optimistic for the week ahead, forgetting the pain of the last week. it is a weekly cycle i go through. i have barely had any up weeks yet ive been doing this for years. needless to say the following week is the same thing all over. mistakes and errors. greed and fear.
$100,000+ down in 5 years. My wife has no idea and it has made my life very unhappy. Tried stopping but kept coming back as “this time it would be different”…no, it never is, it’s always the same! The only saving grace is that the debts will get repaid in a couple years (good jobs thankfully!) and I have managed to stop the emotional blackmail of myself by actually stopping and defeating the bug that brings me back to the table. Now I am going right back to the beginning and doing my education correctly…demo, stats created out of observations in this demo environment, and actually finding a proper edge based on this real data.
I mined and bought shitcoins made by Bryce Weiner
Chased the dream of trading for a living. I had an edge and would make money 99% of the time my set-up occurred. This worked so well that brokers would give me such awful excecution and service (requotes 20 times, hanging prices) that I would have to keep moving brokers.
My edge eventually stopped working, and havent found one since.
The success rates for traders is very low, and its the hardest money you will earn. On reflection, if I had channeled all my energy, capital and dedication into building a business I would be a lot better off now.
I spent %90 of my time trying to fight the urge of getting rich real quick. In all honesty I don’t know why, I would do all this market analysis and trading even if it was not for the money. It’s the only thing in live that challenges me and makes me feel unleashed.Thx for the page DJC!
Made €2.500 last week. Just don’t invest in everything. Mostly just sit on your hands and wait. Waiting for some new ico’ s which give me the most profit.
Just started trading live again after 3 years been searching for a consistent trading plan found one and guess what first 3 trades were loses. Why. You know it, I didn’t stick to my plan. On one of the losses I panicked and even moved the stop to take a greater loss. So now having to mitigate those losses to get back to break even. Lesson learned. It is true what they say trading is 90% psychological and battling with yourself is the true art of trading
I’ve spent the last 5 years chasing the dream of being an trader. In 2016 I thought I had finally cracked it. I stopped over-trading, I took only the best setups and watched my account steadily grow. I even received funding from an investor and began planning my new life with all the money I would make. All of that changed in the last 3 months when my strategy stopped working and almost every trade I took was a loser. The drawdown brought back emotional trading and now I don’t think I can recover from the losses I’ve taken. The investor withdrew funding too. I don’t know if achieving this is worth the relationships, money and life experiences I’ve sacrificed over the years. I tell myself I’ve invested so much and was so close to making it, that I can’t give up. Maybe I’m delusional and trapped by the need to make this a success? I just don’t know.
I’ve lost over £20000 in the markets in 6months not knowing what I was doing. I spent a lot of time money and energy studying everything I could. I found a mentor and things are looking good.
i´m struggeling to find my way. I ve got tons of material to study, but right now it seems to be a mountain impossible to climb. even worser , i´m not even sure if studying the whole material would help me become a consistent profitable Trader.
I want to work at it, but atm it just feels like i am only “playing” around…think it should feel more like work.
Looking into the mirror…I realize, I’m in no shape to fend off an alien invasion
I don’t know what the hell is going on.. sometimes i feel like i’m wicked as fuck catching all the waves and sometimes i’m sitting there scratching the effff out of my head… sometimes i’m walking around like a king with my head high, sometimes meh…. however i haven’t lost big and am a break even trade… I don’t know what steps to take to move forward.
No one understands my life. My parents think i’m wasting my life (Im 19). I’ve ignored every single friend who told me that it’s not possible to make money through trading. Well after two years i’ve found an edge in trading. I’ve got no support from anyone close to me but well, i didnt come this far to go back empty handed.
“Don’t let the negativity of the naysayers get into your head” -Steve Mauro
I use no stops, pussy trader, having trouble growing my account, I make great calls but hardly ever take those positions and I see how much I could have made. Also am afraid of losing money so I enter drawdown and wait for it to come back, but at least twice I’ve had to absorb losses and it was over 25% of my account which I was grinding away to build up. Also cut positions quickly but let losers run.
Made $40,000 this week
I never felt such a pain blowing accounts and lossing friends and family debt knocking but still trying hard to improve
am i going to make it before i go bankrupt. my account has been maxed loads of times now and i am shitting myself. this week i lost another 1000 bucks
this fucking shit has destroyed my life. my health is fucked. my relationships are desperate. i dont spend time with my kids and i couldnt give a fuck about any of my friends anymore. all in the pursuit of money? what have i done.
i have no idea how to get discipline or become disciplined. i keep making the same mistakes for over 5 years now. Ive lost $25,000 and know i should stop, but i cant.
i was killing it and now i get nothing right. ive only lost money for ages now. what the fuck is going on.
same shit again, made loads during the week to just piss it all away on thursday, friday!
my wife has no idea how much debt we are in and how much money i have spent on trading. i feel like a total gambler after blowing yet another account this week. why cannot not control myself?
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