Giving up?

Quoting chartsndream

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This post I hope reaches out to those that are on contemplating on quitting the markets, Dont. You started for a reason, dont give up on that reason and embrace the difficult times the market has in store for you. Like Winston Churchill once said, Success is walking from failure to failure without losing enthusiasm. You are working on developing a set of skills that may take you 5 years to become proficient in that will generate you income for the next 50 years. If you ever feel like quitting, reach out to me. Lets talk. I know that feeling.

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Quoting chartsndream

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This post I hope reaches out to those that are on contemplating on quitting the markets, Dont. You started for a reason, dont give up on that reason and embrace the difficult times the market has in store for you.

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Quoting Atokys

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{quote} Well. Advising one not to give up works when the trader already operates with a positive expectancy. The same advice would just result in a complete loss of capital if a trader operates with a negative expectancy. Therefore, like all well-intentioned trading advice, this advice doesn't work in all Trader Conditions.

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Quoting chartsndream

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The intentions of this threat was not to make traders that are resulting with negative expectancy to continue doing the same thing. It was simply to encourage them not too quit overall.

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Quoting Atokys

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{quote} Alas, this statement is illogically inconsistent. Encouraging a person with a negative expectancy to not quit will inevitably result in the negative expectancy being realized.

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Quoting chartsndream

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{quote} I'm not sure if I am understanding what you are saying or I am not getting my message across clearly.

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Quoting chartsndream

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I'm not sure if I am understanding what you are saying or I am not getting my message across clearly.

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Quoting Atokys

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{quote} Ok, lets try a simple example: Tom opens an account with a $1000 balance. 1 month later he is left with $0. Tom opens another account with a $1000 balance. 1 month later he is left with $0. Tom opens a third account with a $1000 balance. 1 month later he is left with $0. Tom opens a fourth account with a $1000 balance. 1 month later he is left with $0. 'Hey Tom, don't give up, you're just 4 years and 8 months away from consistent profitability.'

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Quoting chartsndream

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ahh, thank you brother for the clarification. I guess the negative expectancy concept came from the Success is walking from failure to failure without losing enthusiasm. Well, I didn't use the quote to say that if something isn't working for you, keep doing it over and over again. I just meant to use it as don't give up on your dreams.

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Quoting Atokys

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{quote} Ok, lets try a simple example: Tom opens an account with a $1000 balance. 1 month later he is left with $0. Tom opens another account with a $1000 balance. 1 month later he is left with $0. Tom opens a third account with a $1000 balance. 1 month later he is left with $0. Tom opens a fourth account with a $1000 balance. 1 month later he is left with $0. 'Hey Tom, don't give up, you're just 4 years and 8 months away from consistent profitability.'

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Quoting flylife

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One defines insanity by doing the same thing over again and expecting a different result. After you lose 1000$ you don't start again with 1000$, you only put 100$ for example and try to keep that $100 for as long as possible, if you lose $100 you add again another 100$ and now you have 10 tries. If you learn something from each one of them you will progress. That's how I did it. There is no way you will make more money than a doctor or a lawyer after a year...Took them 7-8 years of study to get there. So just don't give up. Is not easy,...

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Quoting Atokys

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{quote} Thank you for sharing your process. Enormously profitable (and insane, apparently) Managers in the Managed Futures field run mechanical systems that literally do the same thing over and over again and expect different results. Retail traders (those standard-bearers of sanity) love doing different things (like jumping from system to system) while expecting consistency of results (making an income). They usually achieve the opposite of their intentions.

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Quoting chartsndream

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Great feedback. Thank you. How long have you been trading if you don't mind us knowing?

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Quoting Atokys

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{quote} Sorry, im really shy. What does it matter? Its not these peripheral details that one should focus on but the process.

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Quoting chartsndream

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{quote} it doesn't matter you are right. I was just curious but I respect your decision. Thank you for your words today I really appreciate it.

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Quoting Atokys

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{quote} Well thanks, those are kind words. I would like to reiterate the point of not focusing on 'details' and 'outcomes' because it bears elaboration (and its the internet, so why not). A successful trader goes through a Process and obtains a profitable Outcome. People on FF focus on the Outcome in all its details: - Length of time spent trading - Amount of money made - Compounded annual return - Distributions of wins and losses - Ability to draw out an income from profits (FF edition) - Worst losing period - And a whole bunch of statistics All...

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