Jump to content

We have moved to Discord. Please click here to join us in the Trading Terminal Discord server.



These forums are read-only.

Leaderboard


Popular Content

Showing content with the highest reputation on 09/06/2021 in all areas

  1. 1 point
    Could not agree more, focus on fixing one thing, then move on to the next. Eventually your code will be fixed and you will be trading consistently.
  2. 1 point
    I've had several setbacks in my journey to becoming a full time day trader. I sim traded for 4 months, finally gained some momentum, reached a level of sim trading that was consistently profitable, made some small gains in real trades to start building thicker skin trading real money... Then I lost my job. It wasn't because of trading, but it did result in me needing to empty my trading account. It's amazing how long it takes to establish something that can go away in an instant. I didn't blow up my account, but it felt the same. Two months of unemployment later and I was back in an office working a consulting contract for more money than before, but a lot less time. In the office by 8am. No time to trade or even watch the chat. No point maintaining a DAS or TI subscription. No point even studying or reading because I know myself enough to know I won't retain it if I don't get to practice. I didn't quit. To me quit means never going back. I prefer "when should I reevaluate my approach?" I think that is a question a day trader should already be asking themselves every day and every minute because that's the nature of trading. So I re-evaluated my approach. I knew my contract was 6 to 9 months. 6 to 9 months of no trading, so I adjusted my trading plan: 1. Find a job with enough flexibility to allow me time in the morning to trade; 2. Rebuild my trading account. 3. Re-develop my long term plan to reach full time trading. It took 6 months but I found the new job. I started 4 weeks ago and for the last week I've been able to join the chat through the open. Right before I started my new position a pipe burst and flooded our home, so now we're dealing with that, which will definitely delay my account funding again, but I'll deal with the setback. The upside of the flood is the owner of our home wants to sell it, and offered to sell it to us. Another setback financially, but long term a good thing. I didn't quit. I don't want to quit. Personally for me I've decided that day trading tics all the boxes of what I want to do to earn a living. I know 90% of traders fail, and I know many of the reasons why. I think self-reflection is THE key skill a trader needs, and unfortunately I don't think many people who approach day trading appreciate that. Self-reflection counteracts self-deception and reinforces self-reliance. To me, the time to quit is when you've been honest enough with yourself to accept that you either don't really want to be a day trader, or, more likely, you fell in love with the idea of day trading and found the work too daunting. Like any career, it isn't for everyone. But if it is for you, don't ask yourself when you should quit, ask instead "what do I need to change to succeed?"
[[Template core/front/global/mobileNavigation is throwing an error. This theme may be out of date. Run the support tool in the AdminCP to restore the default theme.]]

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.