I'm a masochist & it's hurting my trading :(

[advfntrader]

why don't you try to get a job as a trainee trader in a firm ? then you could live your dream. surely with your trading battle scars you're ahead of all of these fresh faced grads ?

 

[Masquerade]

why don't you try to get a job as a trainee trader in a firm ? then you could live your dream. surely with your trading battle scars you're ahead of all of these fresh faced grads ?

That would be a good idea. But the truth is I have already tried that with some of the usual suspects posted on these forums with varying levels of success.

The smaller places don't tend to recruit often (I have been in touch before at various times and they've never been recruiting) and the trainee trader positions i've seen advertised on the internet are usually either Quant jobs requiring PhD and computer programming skills excelling that of a Microsoft programmer (not that hard I guess ) or these "unlimited earnings from trading" where you're required to pay £6793 for a course and the possibility that you might be able to trade 10p/pip from some remote trading account if they decide to back you.

My past experience with trading wouldn't necessarily be viewed as a good thing to these places. Trading companies would want someone who's malleable and not set in their ways; they may think I have my own views on how to trade and that i'd be a nightmare to teach. Also there's going to be the obvious questions of: "if he's a good trader, why does he want to be backed and work for us?" and also "if we teach him, how do we know he won't just leave as soon as he's got some cash in his pocket and do it for himself?"

 

[Brock Landers]

the sooner you get this idea of trading for a living out of your head, the better. You are just not cut out for it.

 

[Masquerade]

the sooner you get this idea of trading for a living out of your head, the better. You are just not cut out for it.

Do I know you or is your job to troll the forum? I really wonder about people like you who waste time here moaning about how you hate T2W and post "lulz". It's a nice day outside, go play.

 

[piggybridges]

You are just not cut out for it.

Don't you think that anyone, no matter what their personality, could trade profitably assuming they were properly trained by a genuine trader to use a methodology that actually worked? (probably wouldn't involve any TA or charts at a guess....)

 

[Brock Landers]

Do I know you or is your job to troll the forum? I really wonder about people like you who waste time here moaning about how you hate T2W and post "lulz". It's a nice day outside, go play.

Of course I enjoy t2w, otherwise I wouldn't post here, tosspot.

Look, you might not like what I said, but for people like me it is patently clear that this just isn't going to work for you. You are not a "masochist", you are just weak willed and too emotionally unstable to ever last.

 

[the hare]

Don't you think that anyone, no matter what their personality, could trade profitably assuming they were properly trained by a genuine trader to use a methodology that actually worked? (probably wouldn't involve any TA or charts at a guess....)

I would say definately NOT. I wont say more, but I can assure you, there are people out there who will never be profitable for as long as they live. They either dont want it, or they deliberately self sabotage.

 

[Brock Landers]

Don't you think that anyone, no matter what their personality, could trade profitably assuming they were properly trained by a genuine trader to use a methodology that actually worked? (probably wouldn't involve any TA or charts at a guess....)

what?! NO!

In order to trade profitably, you need to take more money from the market than you leave behind. Quelle suprise, there are actually alot of people competing for the same profits that you are. If you cannot compete - and win - then you sentence yourself to death by a thousand cuts.

 

[Brock Landers]

Monday came and I decided to go down the straight and narrow. My usual morning ritual of firing up my screens, reading up on the overnight news, logging into my trading account, sorting out my news feed and shaking my magic 8 ball were no more. I sat in a new found eery silence oblivious to what was happening with the financial markets and started to look at employment opportunities.

I've heard it's pretty grim out there with the employment sector. In the past, I just paid attention to unemployment figures so I could decide the best way to try and make money out of it. I applied to quite a lot of roles, some of which are really low positions and as yet have had no success.

By Wednesday I was starting to feel a bit fed up with it. I thought about where I left off with trading and it didn't seem to make much sense to put it on hold now. A few months ago after hitting some big losses would have been a more logical time to stop.I had been making a conscious effort to not keep up with the latest news and prices. Due to my natural curiousity I did take a look from time to time but nowhere near as often as I would have in the past.

I'm sure some of you have seen that "secrets to success" video which is on youtube that has been posted around in various places. I watched it and it made me think 2 things. 1) Sometimes when you want to succeed, you have to do something difficult & 2) I had felt the pain and made sacrifices for trading and maybe now is the time when it all pays off and I get my reward. I have met people in social situations and we have the dreaded (at least I dread) "so what do you do?" moment and I tell people that I do some trading. People get really interested and start asking loads of questions and say it's something they'd like to try. Looking at them though, I know the minute they lose £50 in a trade they'll hate trading and not want to try it again as they're just not cut out for it and willing to make the sacrifices.

I attended a social event in the week and had the dreaded question asked by some girl I was hitting on. I went to the default "investment stuff" line and then she asked more and I mentioned about trading (I don't tell people about poker for obvious reasons) but this time I felt like a bit of an impostor because the reality was that I had barely looked at the markets, hadn't traded for a few weeks and was doing the same as hundreds of others applying to low skilled jobs without much luck.

At this point in time, I feel that the path forward for me is to do something myself rather than rely on a job. Taking calculated risks is in my blood and i've been doing it through trading and poker for quite a few years now but never fully committed. In a bid to please people around me, I signed up to a skills centre and will be attending a 2 day course on basics such as CV writing/employment searching and whatever else they may cover - I hope that maybe there is something useful I can take from it even if I don't use it in the immediate future. I'm already dreading it and deliberating about not going as the first person I need to be happy is myself and that's not being attained via this route. I do have some pokers in the fire and if one of them comes out red hot then i'll have to pay attention and use it as a means to an end of acquiring larger capital to work with (which is never a bad thing.)

On the bright side, i'm not sure how i'd have traded the euro over the last few weeks and might have saved myself a lot of money. It seems riskier than ever with the euro potentially on the brink of collapsing and in my break I have started to consider trading cable instead or eur/gbp but this is something I will decide upon my return. For now I have to jump through some hoops like a show dog but I have decided that trading will be my desired path.

So, after 3 days of looking for a job, you have given up and instead you will become a professional trader?! WTF?!

You trade out of desperation. Your trading strategy is borne out of desperation , and don't get me started on your offensive take on fundamental analysis. Where on earth do you think you have an edge there?

And don't fall for that stupid "motivational" video. Dedication is important, of course, but repeating the same thing again and again and expecting a different result is borderline insanity.

The only reason you have "chosen" trading is because a) you have no other options, and b) you are attached to the sunk cost you have paid so far.

I would also hazard a guess that you have so many bad habits to unlearn that it will take you a lifetime to ever be in a position where you can approach trading with the proper mindset.

 

[JRP2891]

True words said by Brock Masq (in my opinion at least), i doubt you'll enjoy hearing them though.

 

[Masquerade]

So, after 3 days of looking for a job, you have given up and instead you will become a professional trader?! WTF?!

You trade out of desperation. Your trading strategy is borne out of desperation , and don't get me started on your offensive take on fundamental analysis. Where on earth do you think you have an edge there?

And don't fall for that stupid "motivational" video. Dedication is important, of course, but repeating the same thing again and again and expecting a different result is borderline insanity.

The only reason you have "chosen" trading is because a) you have no other options, and b) you are attached to the sunk cost you have paid so far.

I would also hazard a guess that you have so many bad habits to unlearn that it will take you a lifetime to ever be in a position where you can approach trading with the proper mindset.

I don't get this....before you made this post:

the sooner you get this idea of trading for a living out of your head, the better. You are just not cut out for it.

Now you do the above. So did you just decide to read now not basing the above post on what I wrote or you're just that bored that you decided to come back and flog the horse some more?

After 3 days, it dawned on me that I want to keep trading. I find it rewarding, challenging and there's a sense of achievement in it for me. There's no decision to become a pro, I will just keep doing as I have done so - it's merely a label.

What is my trading strategy? I'll ask again, do I know you? Do you know me? What is my take on fundamental analysis? How do you reach such conclusions with such little information? This doesn't bode well for your trading and looking at your activity on T2W I am definitely forming some opinions about your trading.

There's no falling for a motivational video, in fact it was more relevant to my poker. Trading isn't really one of those things where being around for 48hrs straight is advantageous.

There are no current options partly because I chose that way. I do not care about sunk cost if you're referring to the money. It's a trivial sum which I don't lose sleep over. I see it as running the 110m hurdle, after jumping 9 hurdles and going to the finish line why would I stop and not jump the final hurdle?

Yet more hazarding, guessing and assumptions from you. I'm sure you'll declare you mean well but your history on here precedes you and i'm very aware of who to pay attention to and who to brush aside on this forum. Until I see otherwise then i'll hold my sentiments. Good luck.

 

[the hare]

Just out of interest, are you a profitable poker player ?

 

[Masquerade]

Yes. All of my poker accounts are in profit. Time is a factor though and I haven't put in the sort of volume that I should.

 

[Brock Landers]

I don't get this....before you made this post:



Now you do the above. So did you just decide to read now not basing the above post on what I wrote or you're just that bored that you decided to come back and flog the horse some more?

Yes, I decided to flog the horse some more. Someone needs to talk some sense to you.

After 3 days, it dawned on me that I want to keep trading. I find it rewarding, challenging and there's a sense of achievement in it for me. There's no decision to become a pro, I will just keep doing as I have done so - it's merely a label.

Eureka!

What is my trading strategy? I'll ask again, do I know you? Do you know me? What is my take on fundamental analysis? How do you reach such conclusions with such little information? This doesn't bode well for your trading and looking at your activity on T2W I am definitely forming some opinions about your trading.

Do YOU know what your trading strategy is? Your pathetic comments about the euro and it's immenent collapse are juvanile at best. It is laughable that you would consider such information in your approach. You have no edge there whatsoever, at all, in the slightest. You like to include it as you think it gives your positions some credence, when in fact they have none.

There's no falling for a motivational video, in fact it was more relevant to my poker. Trading isn't really one of those things where being around for 48hrs straight is advantageous.

"wooosshhhhh!!" is the sound of the point as it breezes above your head. Do you think that the point of that video is "stay awake more"? Do you think that my objection to the video is that improvement improves if you sleep well? The sleeping reference in that video is token at best. The illusion it creates is that success in the markets is something you can achieve if you keep on trying. I am sorry, but this is not the case.

There are no current options partly because I chose that way. I do not care about sunk cost if you're referring to the money. It's a trivial sum which I don't lose sleep over. I see it as running the 110m hurdle, after jumping 9 hurdles and going to the finish line why would I stop and not jump the final hurdle?

I refer not only to the money, but the opportunity costs and emotional attachment, and the corner that you have backed yourself in to. Trading is not like the 110m hurdles. Success is not guaranteed because there is no finish line.

Yet more hazarding, guessing and assumptions from you. I'm sure you'll declare you mean well but your history on here precedes you and i'm very aware of who to pay attention to and who to brush aside on this forum. Until I see otherwise then i'll hold my sentiments. Good luck.

Believe it or not, I do mean well, and there is too much wishy-washy bullsh!t here about how you can make it if you reach for the skies. You and trading are a square peg and a round hole.

** I obviously never met you in real life, but your posts speak volumes.

 

[BeginnerJoe]

I have decided that trading will be my desired path.

You gambled and lost. Gambling some more will just lose all you have got. You could end up on the streets if you are not careful. It's cheaper if you just sit there and don't do anything: don't gamble and don't get a job.

 

[BeginnerJoe]

Believe it or not, I do mean well, and there is too much wishy-washy bullsh!t here about how you can make it if you reach for the skies. You and trading are a square peg and a round hole.

You are not far from being a square peg yourself. But your pocket seems to be deeper than the OP's. Like I said in the other thread, trading and gambling look very similar but are distinctly different. Like most people you are but a few bets away from hitting thin ice.

 

[Shakone]

I think (but don't know for sure) that some people will never be able to trade profitably. Not because it is impossible, but because they either don't recognise what they need to do, or are unwilling to make the changes to themselves. All personalities in theory 'could' eventually be able to trade if taught properly. But that's theory. Denial will prevent you making these changes.

If you believe Masq is one of those who will never make it, then if you're right, saying that to him isn't going to work, because he'll not recognise it, and he'll carry on in denial. And if you're wrong, it's only going to hurt his confidence and give him doubts in his trading which isn't helpful either. So I don't see the point in going down that route.

I believe that if you want to succeed, then you really need to commit to something and see if it can work. Looking for a job for 3 days, in these times, is really not even trying. Now I'm not saying have all your eggs in one basket (I don't), but there should be a priority commitment. If that's poker, then so be it. Do it properly. Put in the hours and do it. For months, not a few days. No excuses. If you want a job, then do the same. Constantly flitting between life options has about the same success as constantly changing your trading strategy because you have one loser.

 

[the hare]

Yes. All of my poker accounts are in profit. Time is a factor though and I haven't put in the sort of volume that I should.

Thats quite encouraging. I'd probably do a bit of analysis to work out which activity really is giving you the best edge, and then start concentrating on that area.

Have you though about entering tournements ?, anyone half decent could probably make a reasonable living and get to do a bit of travelling etc.

 

[the_coumiester]

Very interesting thread for a person reading on the "outside" and not taking much active participation in the thread. This could be a great thread for newbies to read, as it is a great detail of the "struggle", I guess. There is honestly some great advice among the posts of sarcasm and B.S. (Shakone, for example.)

I really am not sure if this OP is serious, or what, as this thread has raged on for over three months. However, I don't want to make that a personal attack or whatever, it's just an observation. In any case, there has been some great advice here, but ultimately the "destiny" of your trading consists of what you make of it.

If you keep failing at trading, then look at the techniques you're using and consider trying new ones. (Which was already suggested.) And, unfortunately, three days of job hunting in the damn-near-broke-and-pretty-much-dysfunctional U.S.A. is not going to yield much.... but neither is trading if you consistently consider yourself to be a person that is unable to trade. I think a new psychological approach could be useful here. "I know I can, I know I can"?

Ultimately, it's in your hands.

 

[megamuel]

I'm not sure why people are saying he will NEVER make it.... Not that he's failed yet (He still has some trading capital left) but is it not possible for a failed trader to turn it around? I've heard lots of people on here saying that blowing an account or two is just part of the learning process. Saying he will never make it is like saying a smackhead will never come off smack, not true, I knew one! He died a few years later in a car accident though.... Yeah.... That was a bad analogy I do apologise!

Anyway Masq, here are my suggestions to you:

1. This trading strategy/method whatever you want to call it, it's not working is it.... Either because... It doesn't work, or because you are not implementing it properly. I really think you need to ditch it and go back to the drawing board. Seriously, you are adding to losers/doubling up or whatever and it all sounds a bit wishy washy, and that is probably reflected in your results. But you've become attached to it. You need to divorce it. You've wasted enough time on that b1tch and she's already taken half! Divorce her! I think you should work on something a bit more mechanical to avoid making decisions! As you have stated, you've made some bad decisions in your trading. I guess it's like looking for a new job, but you're looking for a new strategy.

2. If the thought of starting all over again doesn't appeal to you then sure go look for a new job. But after years of trading do you really want to work for someone else/with other people. It f**kin sucks! How old are you if you don't mind me asking? Just curious. Anyway, you are obviously willing to accept risk, and with there being so few jobs at the moment, maybe you should start your own business? Do you have enough capital to get into property development? That's something I've always fancied but I don't have enough money to start. Also thought about starting up a carpet/upholstery cleaning business and then expanding into hard floors, patios, graffiti/chewing gum removal. Try and get some contracts in restaurants, B&B's, care homes that kind of thing. Maybe employ a few folk. That's still my back up plan. Or maybe you could start something trading related? A web based business. There are loads of things that have to be better than starting from the bottom working for someone else! Gardening, painting and decorating, or maybe you fancy something a bit more intellectual, in which case I have no idea because I'm no intellectual!

Anyway, just thinking aloud really but I really think you need to ditch that strategy. Best of luck.

Sam.