When Should You Give Up On Trading?

hello to all the great traders here!!
I would like to also point to never give up if anyone is interested in reading in my story is on member lounge with title to those who make it.
But to save you some time heres the conclusion when u have given and sacrificed everything your only option is to NOT GIVE UP.
So i believe then you are destined to succeed!

If it was impossible no one would do it, if it was easy everyone would do it.

Never give up, only when your wallet is empty and you have to pay bills, or make up your future, then when the tough times are over and you can come back to normal (you have food on the table) you can catch it again. I will add one more here - when you die.

Never give up! Imagine how many people feed at your expense: forex factory, brokers, fancy line strategy selles, EA coders, MQL scammers, electricity companies, banks!
You want them to cry? Why you want to leave them alone? NEVER GIVE UP! Add more!!!

Being consistently profitable as a regular retail trader is the ultimate dream. The problem is, you have to dreaming (as in during sleep) for it to be true.

You should definitely give up if after a pre-determined amount of time you are, in the first instance not consistently and reliably profitable to a level that is satisfactory to you, and in the second instance that the amount you earn from the activity is not significantly more than you could earn by going out to work, or at the very least - the same. Everyone's circumstances will be different though, and it may be that a couple decides that being a 'stay at home dad' trading is better earning 1/2 what he could in the jobs market, but is there for the kids etc. The point is you should definitely have an endpoint if it isn't producing for you. Don't go on ad-infinitum just with hope - it doesn't pay the bills, and that's what we are doing it for surely? All this never give up advice is just bad advice.

Hello bro, all I can say is focus more on the process, not the outcome. Sometimes we win and sometime we loss. There no one can trade 100% win rate from the first day they start trading. Of course I'm saying this because I have the same feeling like you before. I'm too focus on the outcome and expected my trade to go on my ways. Just let go of this kind of mindset when you trade and only trade with capital you willing to lose. All the best on everything you do will succeed.

Forget the bollox about never giving up. If you keep losing then that is a hint that you should stop throwing your money away and get a job. Maybe save up by investing in shares long term. Don't get addicted to trading short term. No shame in failing as a forex or whatever trader; simply move on to another occupation where you keep your money - like a salary maybe.
Most people on FF do not make a living from trading. But they hang around FF because we are in good company.

Amazing insight and observation

Thanks Bro.

When should you give up on trading?

The most reasonable answer or advice to give any trader, is: As soon as possible.

Doesn't sound too glamorous, but given the exceedingly high failure rate (at least, to reach a level where you can consistently and confidently sustain yourself with your trading, which is the goal of the majority at the start of the trading journey), it actually makes sense. If it can avoid years of pain, financial losses, emotional torment, conflicts in your relationships, etc.., it might not be a bad thing. Plus, all the opportunity cost if that person were to put that financial amount into a Vanguard ETF, and all the time & energy into getting promoted in your day job.

But we aren't driven by reason, but rather by other emotions that push us to endure all that pain in order to maybe at one point "make it". That's why you get stories of traders who after 5, 8, or even more than 10 years, have a shift in their trading and start making profits. Your hear quite a few of those stories on Chat With Traders, for example. It's those stories that give us hope & inspiration that maybe "I could be next".

On the one hand, you could think, for every success story, how many untold stories of traders who persisted for too long, never making it and ultimately losing much more than just money.
On the other hand, you realise that nothing valuable comes easy, and to reach something that's truly worthwhile in life (like being profitable trading), you have to go through the pain, without knowing the breaking point.

Thanks for your comment.

Sometimes we have to know when to hit that pause button and evaluate our circumstances.

I was getting addicted to putting in trades with no plan just to trade gambling but NO I'm not giving up

Shits hard yo but that's what motivates most of newbie the challenge...

You don't have to give up your gambling addiction, just trade demo. There's no shame in being a demo trader.

... I don't want to throw this thread off it's original question, which is an overlooked and important one, but we know that of those that have given up this will almost exclusively be because they couldn't sustain profits consistently, and worse - and probably the case for most of this group - sustained losses. indeed some of these that incurred losses will have done so on a scale that hurt them...ie they were trading with money that they couldn't really afford to lose. There is an old saying isn't there? ' you can't win with scared money..' Most that start this trading journey with whatever ambition that is personal to them, do so and indeed carry on so, not really knowing the absolute fundamental basics, ie that they need an empirically proven trading edge that has been proven over a substantial representative documented sample (s) size of trades, and time duration, in the market conditions it is intended to be traded in. Most don't even know what an edge 'really is' let alone what you need to know about it and for those that are interested in this - the very foundation of successful long-term trading, have a look at this thread's first few posts: Why Traders lose money and how to start being consistently profit | Forex Factory A lot here just flip from thread to thread and follow the latest so called 'system' without even knowing anything about it other than what the author has written, because they see it as a shortcut to the real motivational aim of most of thsoe that start trading, the rags to riches/get rich quick motivation fed by sites like youtube and instagram and to an extent like this one. The challenge motivation ('I won't let this beat me etc etc...) may come later but that is the initial motivation I am sure.

As Pat says above, you need a Plan first, then you need an Edge to achieve the plan.

1. Have a plan
2. Find an edge that will help you to achieve that plan

If you do both of these stages you stand a far better chance (but not a guarantee) of not needing to give up.

At least this guy is honest.

I donno to cry or to laugh.........

Why don't you change your trading style? To most people, day trading is a loser's game now because technology blocks every possible profits from retailers. Try investment like Warren Buffet. If you give up becoming a rich quick dream, you can make some money from trading or investment. To make living from trading, you should be already rich.

I don't know if you should ever give up, if you have the sincere desire and determination to trade forex.

It may take you longer to succeed, but nobody said doing anything well would be easy.

Sounds like an entrepreneur who doesn’t let his past failures get in the way of his future failures




Investing is to make it easier for us to make more money, but a lot of people are losing money.............

But man is not made for defeat. A man can be destroyed but not defeated.”
Ernest Hemingway
Author
The Old Man and the Sea

Very lyrical but that kind of logic should be left in fictional storybooks such as the one you quoted it from.

On a more serious point, perhaps it has something to do with the obvious evidence that we now live in a world where facts/evidence desn't seem to matter anymore. Trump is the absolute manifestation of this made large, he can just make them up as he goes along and millions upon millions follow, like they do ridiculous conspiracy theories like Qanon with no actual evidence to back them up. It doesn't seem to matter. I saw a woman interviewed on Tv at one of his rallies recently that believed Biden was dead or in a coma and was being played by Jim Carey, and she was serious! Stupid Americans aside, The Uk Jason Manford comedian during covid said that he had listened to all the most learned medical evidence in the world, from Nobel laureates and professors to scientists and Leading bio technicians/pharma all of whom said the vaccines were safe, - but his mate Gary down the pub thought they were dodgy, '...so I'm torn now..' lol! Funny story but it just sums up the first point, and as it relates to the central question of this thread, make your decision on whether to keep going or give up on what the evidence you have amassed is telling you, (assuming of course you have done everything right up to this point,) not on what others tell you - or worse - hope!

I am sure they love me, but they don't pay my bills! Right.