As the title suggests, trading is not all about strategies, money management, or experience. There's also a very human aspect about trading. It's better known as psychology and mentality. One member here posted that traders are a pretty lonely bunch. I think that's very true. It's not because we trade, but rather in which we see the world and life. We traders are deep thinkers, and I know that might sound corny, but it's the truth. This different way of thinking affects us mentally, both positively and negatively. This thread will be dedicated to this topic, because most relatively new traders think it's all about the money.
When you start trading full time, you tend to "know the price of everything and the value of nothing." At least it happens to me. Every time I walk down the street, I look at cars and wonder how much they cost(Sorry, I'm a car nut). But, the syndrome goes further. Let's say I'm thirsty and want a soda bottle. I go to the Deli and the price is $1.50, but in my head I think "Hmm... It's not worth more than $1.00, because it costs $0.89 at the supermarket and I think it costs no more than $0.10 to refrigerate it." I then pass up buying it and look for something with a reasonable price. Strange, huh?
I'd like to let you guys know about myself as well because it will provide some insight. I live in NYC. At the ripe old age of 16, I began trading seriously. I was a junior in high school at that time. I was trading stocks with Brown & Co. before E*Trade bought them. Now, since we eally didn't have access to wireless technologies back in the day, I had to call the broker to place trades. I used to take "bathroom breaks" during class and would call my broker to check stock quotes. Mind you, but cell phones were banned in my school, so I hid in the bathroom stalls to make these calls. I made plenty of money and lost plenty of it as well.
I started trading in February, and by August I had developed chest pains, insomnia, chills, heart palpitations, weakness, and had trouble focusing. I ended up in the emergency room several times thereafter. It was so bad that I couldn't leave my house for 2 months. I was afraid something would happen to me in the streets and nobody would help me(What do you expect, it's NYC). I needed help, so I went to a Cardiologist, Endocrinologist, Neurologist, on top of all the blood tests, etc. I was on all sorts of heart medications and opioids. Finally, at the suggestion of my personal physician, I went to a psychiatrist. Well, I was diagnosed with Anxiety Disorder, and was put on Paxil. All I can say is that was what I needed. Because of all this, I missed 2 months of high school and almost ended up failing in my senior year.
All the while I was still trading. I had graduated from trading stocks to trading stock options. I was making up to $10,000 a day as a 17 year old in high school. It was definitely interesting to cut class and trade on school computers(they didn't support the high tech trading platforms we take for granted, LOL). Eventually, FOREX caught my eye, and as soon as I put together a strategy, I began trading it exclusively.
I'm making a fortune, but it all came at a price. I sacrificed everything to become a good trader. I gave up the thought of having friends, partying, relaxing when I was in high school. I sometimes wish that I wasn't so busy trading in my youth. I watch a few movies these days and wonder if I could have done the same fun things in high school. But, it wasn't meant to be. I realized if I screwed around like all the other kids, I would get used and abused by the system. You know: Go to school, get a job, get married, and die. I decided that it wasn't for me. Sure I regret it, but if I had to do it all over again, I'd do the same thing. Why? 'Cuz the market is the best teacher.
These days, I've slowed down a bit("Stop and smell the roses"). All that hard work and mental pain paid off. I'm only 21 and can really do fun shit that few people can do, like going on a cross country roadtrip with my best friends, fishing, going to the beach on a workday, sleeping in, chilling in NYC. I not only have the time to do all these things, but also the money. And that's why I began trading in the first place.
So, to all you rookies and even veteran traders, it's not all about trading. Sometimes it's just about you, so take a break and just relax.
When you start trading full time, you tend to "know the price of everything and the value of nothing." At least it happens to me. Every time I walk down the street, I look at cars and wonder how much they cost(Sorry, I'm a car nut). But, the syndrome goes further. Let's say I'm thirsty and want a soda bottle. I go to the Deli and the price is $1.50, but in my head I think "Hmm... It's not worth more than $1.00, because it costs $0.89 at the supermarket and I think it costs no more than $0.10 to refrigerate it." I then pass up buying it and look for something with a reasonable price. Strange, huh?
I'd like to let you guys know about myself as well because it will provide some insight. I live in NYC. At the ripe old age of 16, I began trading seriously. I was a junior in high school at that time. I was trading stocks with Brown & Co. before E*Trade bought them. Now, since we eally didn't have access to wireless technologies back in the day, I had to call the broker to place trades. I used to take "bathroom breaks" during class and would call my broker to check stock quotes. Mind you, but cell phones were banned in my school, so I hid in the bathroom stalls to make these calls. I made plenty of money and lost plenty of it as well.
I started trading in February, and by August I had developed chest pains, insomnia, chills, heart palpitations, weakness, and had trouble focusing. I ended up in the emergency room several times thereafter. It was so bad that I couldn't leave my house for 2 months. I was afraid something would happen to me in the streets and nobody would help me(What do you expect, it's NYC). I needed help, so I went to a Cardiologist, Endocrinologist, Neurologist, on top of all the blood tests, etc. I was on all sorts of heart medications and opioids. Finally, at the suggestion of my personal physician, I went to a psychiatrist. Well, I was diagnosed with Anxiety Disorder, and was put on Paxil. All I can say is that was what I needed. Because of all this, I missed 2 months of high school and almost ended up failing in my senior year.
All the while I was still trading. I had graduated from trading stocks to trading stock options. I was making up to $10,000 a day as a 17 year old in high school. It was definitely interesting to cut class and trade on school computers(they didn't support the high tech trading platforms we take for granted, LOL). Eventually, FOREX caught my eye, and as soon as I put together a strategy, I began trading it exclusively.
I'm making a fortune, but it all came at a price. I sacrificed everything to become a good trader. I gave up the thought of having friends, partying, relaxing when I was in high school. I sometimes wish that I wasn't so busy trading in my youth. I watch a few movies these days and wonder if I could have done the same fun things in high school. But, it wasn't meant to be. I realized if I screwed around like all the other kids, I would get used and abused by the system. You know: Go to school, get a job, get married, and die. I decided that it wasn't for me. Sure I regret it, but if I had to do it all over again, I'd do the same thing. Why? 'Cuz the market is the best teacher.
These days, I've slowed down a bit("Stop and smell the roses"). All that hard work and mental pain paid off. I'm only 21 and can really do fun shit that few people can do, like going on a cross country roadtrip with my best friends, fishing, going to the beach on a workday, sleeping in, chilling in NYC. I not only have the time to do all these things, but also the money. And that's why I began trading in the first place.
So, to all you rookies and even veteran traders, it's not all about trading. Sometimes it's just about you, so take a break and just relax.
