Does Trading Get Enjoyable

Pipsaholic

Pipsaholic

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Been trading for like 9 months now and making more losses than wins down on my account I feel drained after everything I have learned its not working out as I hoped. Some say everyone goes through this when new to trading. I am designing my own system according to my personality, which is proving more difficult than I thought.

Basically, what I am asking is when do you know time is up or the tide has turned?
 
9 months is nowhere near long enough. As long as the losses are no greater than the cost of the spread you are probably on the right track. If losses are significantly more, then you have a problem, and its probably time to seriously think about giving up.

The tide starts turning once you hit breakeven, although even at that point you'll probably be a couple of years away.
 
In the long run, only if you win, of course. You have to have an aptitude for it.

In the short run, it's all about banking on those pockets of winners and using them as inspiration to continue. Learn from your winners and learn to avoid the losers, and it'll become enjoyable.

On the other hand, I don't think there's anything that can diminish the pain of large losses. That's just something you either have to accept or realize that trading is not for you.
 
the hare said:
9 months is nowhere near long enough. As long as the losses are no greater than the cost of the spread you are probably on the right track. If losses are significantly more, then you have a problem, and its probably time to seriously think about giving up.

The tide starts turning once you hit breakeven, although even at that point you'll probably be a couple of years away.
Click to expand...

Smaller than the spread?! Wow. That would mean my losses would have to be smaller than a pip.
 
Trading gets very enjoyable, because when you get good at it you do lots of things that you like to do that trading pays for. :)
 
Shakone said:
Smaller than the spread?! Wow. That would mean my losses would have to be smaller than a pip.
Click to expand...

I would have thought it was pretty obvious what I meant.

If the spread is 2 pips, and youve done 1000 trades, then your total losses shouldnt be more than 2000 pips. If they are give up
 
the hare said:
I would have thought it was pretty obvious what I meant.

If the spread is 2 pips, and youve done 1000 trades, then your total losses shouldnt be more than 2000 pips. If they are give up
Click to expand...

I guessed you meant that, but I admit I wasn't sure at all.
 
Strip your system back to the barest of elements, those that work consistently. Reduce your positions to minimum stakes. Write down your rules and stick to them. Make a journal of your trades and identify why the losers lose. Identify why you enter and only enter (but always enter) when your criteria are present.

This is your apprenticeship and naturally, in a field like trading in which there is almost unlimited choice as to what to do and when and how and how much and for how long, it isn't going to be easy at first. But be systematic and objective, as if you had to go to a boss or your Board at the end of the session and explain why you did what you did. You can't know what choices the market might make on Monday, but you have to know exactly what you would do once it has decided.
 
By the way, just as it's way too soon to have mastered the art, it's also way too soon to decide you can't do this.
 
Number one thing is to just not mess about, take trading seriously; document, record, make an equity curve, pictures before and after, trade by trade- you have to feel like a dick when you break out of a consistent approach- don't slip into a lazy dossy mode, you have to be focused and look over your past trades constantly.

9 months is nothing! took me 2 years to start breaking even lol
 
tomorton said:
Strip your system back to the barest of elements, those that work consistently. Reduce your positions to minimum stakes. Write down your rules and stick to them. Make a journal of your trades and identify why the losers lose. Identify why you enter and only enter (but always enter) when your criteria are present.

This is your apprenticeship and naturally, in a field like trading in which there is almost unlimited choice as to what to do and when and how and how much and for how long, it isn't going to be easy at first. But be systematic and objective, as if you had to go to a boss or your Board at the end of the session and explain why you did what you did. You can't know what choices the market might make on Monday, but you have to know exactly what you would do once it has decided.
Click to expand...

Bravo. :clap: An excellent response (y)
 
Pipsaholic said:
Been trading for like 9 months now and making more losses than wins down on my account I feel drained after everything I have learned its not working out as I hoped. Some say everyone goes through this when new to trading. I am designing my own system according to my personality, which is proving more difficult than I thought.

Basically, what I am asking is when do you know time is up or the tide has turned?
Click to expand...

I doubt you will become successful at something you don't enjoy - if you really don't enjoy it give it up and find something you do.
 
Thanks for the advice its helped. My system is composed of market structure, support n resistance swing highs and lows, pivots, fibs and harmonics is this too much analysis paralysis as they say or am I on the right track here. I trade 15 min charts with the trend and do analysis on the hourly going for 15-45 pip moves with 15- 45 pip stop losses.
 
To be honest, I don't see swing highs and lows based on resistance / support being that reliable, even with pivots. I take it you are entering with-trend trades on pull-backs? There must be more evidence that makes you click 'buy' surely?

Then again, with a 1:2 or better risk:reward, why aren't you making money?

The inclusion of fibs and harmonics suggests you are trying to run profits and / or guess turning points, highs and lows. I would suggest forgetting this, just set your target, set your stop and let price crash into whichever. Are your good trades going bad when you try to run them by any chance?
 
I have to be honest - for me trading is the most enjoyable way of passing the day. Sorry, I'm a bit of geek when it comes to trading - i don't want to do anything else. I too have had numerous months of losses but I believe that is what has made me into a successful trader. I have learnt so much through making mistakes, re-defining my rules, following them and committing to succeeding. I didn't go live until I was making consistent profits on my demo account. I would offer the same advice to you.
 
sure! I enjoy it every day
I guess it depends on your personality,
I just love sitting infront of my computer and relax
but it's not for everyone
 
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