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Attachments: Should I throw in the towel after being in the negative for 10 years?
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Should I throw in the towel after being in the negative for 10 years?

  • Post #1
  • Quote
  • First Post: Edited Oct 19, 2010 6:35am Sep 16, 2010 4:45pm | Edited Oct 19, 2010 6:35am
I know, I should know better, but if you have been trading in forex/financial markets for about 10 yrs., and still way negative, then you better throw the towel, and say I am out...hasta la vista baby

========================================

Now is forex binary.
uh what's the question?
Working towards CME membership
Quoting hilmy83
uh what's the question?
I should throw the towel?
Quoting candletrader
I should throw the towel?
10 years? oh yea, definitely.
Working towards CME membership
Take a month off at least and do no trading at all, no facebook, no twitter, for a fact no computer and no mobile apps, do you see where I am going here. You need sometime to disconnect from it all and reconnect to life without trading. Just my humble opinion and I traded pennies (real pennies in the trips) for a year and full-time, burn out city. One loosing trade turns into 10 if you do not get away from it all.

Quoting candletrader
I should throw the towel?
Quoting candletrader
I know, I should know better, but if you have been trading in forex/financial markets for about 10 yrs., and still way negative, then you better throw the towel, and say I am out...hasta la vista baby
I really hate questions like these. Aka they are highly subjective and only what you think ACTUALLY matters.

But yeah 10 years long time...
Many of life's failures are people who did not realize how close they were to success when they gave up.

Results! Why, man, I have gotten a lot of results. I know several thousand things that won't work.

I have not failed. I've just found 10,000 ways that won't work.

Thomas A. Edison

More here:
http://www.quotationspage.com/quotes/Thomas_A._Edison/
It depends. Are you seeing any sort of significant improvement over time ?, losing less each year ?, increase in win rate, or increase in average win size, or decrease in average loss size .....
I've been losing for many years too but its the buzz of the deal that keeps me going ... and knowing there is real potential out there. I know its gambling .... but then it's not because there can be logic to it. If it was the casino I'd have given up ages ago.

Prices go UP or DOWN. How much simpler do you want it? Learn to manage your losses .... keep them to a minimum .... I hope to follow this advice some time soon.

Don't give up. Though I have considered this myself. Just take a break once in a while. A month or two away, then hit the back-testing again. Hope fully next year will be the year to make it big. LOL I tell myself this all the time .... gets me excited.

Then depression settles in when I've lost loads.
Then time to take a break again.
Hey its a vice .... thats better than gambling.
Quoting Razzle
It depends. Are you seeing any sort of significant improvement over time ?, losing less each year ?, increase in win rate, or increase in average win size, or decrease in average loss size .....
Lots of improvement indeed...this is how I look at it about my trading journey: it is only a journey, and when physically dead, then it's over! I had ups&downs, but what matters is to enjoy trading, and make money.

Those loss was a very expensive education, but throwing towel...no way jose!

Feeling getting ready to enter a new phase as a desciplined trader.

My Golden rule: 2% of balance is the max risk, 5% increase in trading balance, your out.
Quoting candletrader
Lots of improvement indeed...this is how I look at it about my trading journey: it is only a journey, and when physically dead, then it's over! I had ups&downs, but what matters is to enjoy trading, and make money.

Those loss was a very expensive education, but throwing towel...no way jose!

Feeling getting ready to enter a new phase as a desciplined trader.

My Golden rule: 2% of balance is the max risk, 5% increase in trading balance, your out.
Buenas,
has recibido mi mensage?

Saludos.
Quoting Kenz987
Many of life's failures are people who did not realize how close they were to success when they gave up.

Results! Why, man, I have gotten a lot of results. I know several thousand things that won't work.

I have not failed. I've just found 10,000 ways that won't work.

Thomas A. Edison

More here:
http://www.quotationspage.com/quotes/Thomas_A._Edison/
Thanks, great quote, by a great man...I like Thomas, only if he was nicer to Nikola Tesla!
  • Post #13
  • Quote
  • Edited 7:14pm Sep 16, 2010 7:03pm | Edited 7:14pm
to increase your chances try 1% risk plan at least for 1:2 first target then 1:3-1:5 ..then you have earn the right to quit for the day.. think about it. i think you have a MM problem.. 10 years should be enough pain to try it this time right.. only 1% only risk reward at least 1:2 better 1:3 .. that is a golden rule you should try out.
  • Post #14
  • Quote
  • Edited 8:10pm Sep 16, 2010 7:27pm | Edited 8:10pm
Quoting Bloosy
I've been losing for many years too but its the buzz of the deal that keeps me going ... and knowing there is real potential out there. I know its gambling .... but then it's not because there can be logic to it. If it was the casino I'd have given up ages ago.

Prices go UP or DOWN. How much simpler do you want it? Learn to manage your losses .... keep them to a minimum .... I hope to follow this advice some time soon.
Price acqually goes UP AND DOWN. May take 10 years to appreciate this.

King.
Quoting berni
to increase your chances try 1% risk plan at least for 1:2 first target then 1:3-1:5 ..then you have earn the right to quit for the day.. think about it. i think you have a MM problem.. 10 years should be enough pain to try it this time right.. only 1% only risk reward at least 1:2 better 1:3 .. that is a golden rule you should try out.

How golden is this rule?
http://www.forexfactory.com/showpost...2&postcount=26

King.
So king, you trade without stoploss to add 2% to your account size?
Quoting EricF
Take a month off at least and do no trading at all, no facebook, no twitter, for a fact no computer and no mobile apps, do you see where I am going here. You need sometime to disconnect from it all and reconnect to life without trading. Just my humble opinion and I traded pennies (real pennies in the trips) for a year and full-time, burn out city. One loosing trade turns into 10 if you do not get away from it all.
Very good point. Take some time off. Traders often take a lot of time off so they can rejuvenate and get back in the game when they come back. Too much stress constantly monitoring, following, trading, etc. You will come back more focussed.

As far as quitting, do you have a system/methodology? Maybe it's your system/methodology that you need to quit.
Candle, throw in the towel! Ten years is a mighty long time with nothing to show for it.

Not trying to bum you out but I always tell traders, "if you haven't caught on to the game after 5 years, then why continue?"

Basic rule in trade, Limit your Losses. In this case of 10 years worth of trading, it would be wise to follow that advice.
Quoting candletrader
So king, you trade without stoploss to add 2% to your account size?
Whether one allows small slices be taken off his account gradually (and after several accounts you find its surely)
or
one takes the bull by the horn to build his equity by adding apparently small slices to it slowly but surely can make a big difference in where you will be in 10 years.

In both there is a risk of loss but in one the odds are heaped in your favour everytime because this is forex not roullete.

BTW I do take losses. Its just not the golden 2% which will lead to bankruptcy in forex by default. Upside down? Welcome to the club.

My comments are never trade advice.

King.
Quoting candletrader
Lots of improvement indeed...this is how I look at it about my trading journey: it is only a journey, and when physically dead, then it's over! I had ups&downs, but what matters is to enjoy trading, and make money.

Those loss was a very expensive education, but throwing towel...no way jose!

Feeling getting ready to enter a new phase as a desciplined trader.

My Golden rule: 2% of balance is the max risk, 5% increase in trading balance, your out.
14y & -.
I tell myself the feeling noted, too; only, I keep returning to what drives me, that of discovery of a more effective chart or personal study. It's like, it's not the recipes that matter, it's how you cook them. (Was one before started trading.)
Good luck breaking free of your current cycle and into profitability.
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