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Discussion in Psychology and Money Management

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New Thread from from the "All you Need" topic

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Hapster's Avatar
 Hapster 
San Diego, California
 
Experience: Intermediate
Platform: NinjaTrader, Felton
Trading: CL, GC
Posts: 141 since Aug 2009
Thanks Given: 40
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AR01's Quote:

Jeff,
I will consider myself successful when I can stop working for "The Man." I have a day job right now and trade before I go to work. But I am still in SIM mode. I don't consider myself successful yet. I believer my journey has been like many others. "There IS that holy grail indicator. I won't be the 95% because I've been successful at everything else I have ever done." I now consider this a life long learning process and I am excited about the challenge.

So what's the answer Jeff? Do you have a template (rhetorical)
=================================================================

Ok... I'll take Mike's suggestion and start a new thread... lest we have too much thread drift in "All you need...."

I, too, still work at my day job, that of being a freelance court reporter. And it's interesting: The amount of people that are able to get through court reporting school is about 5%. This caught my eye when AR mentioned that this is something that only 5% of the people who attempt it get good enough to last at it. 95% of the people who start court reporting end up quitting because it's such a BITCH to become certified. This is the same deal: A lot of days I feel like I did 25 years ago when I was in CR school trying to get to that elusive 225+ words a minute that one must achieve before becoming certified.

Court reporting is a great living, but I'm ready to move on after doing it for 20+ years. I've been tweaking my spreadsheet for many months now and do OK with it, but I'm definitely ready to move up to the next level. I kinda consider the spreadsheet as "somewhat" of a "Holy Grail," but really the Holy Grail exists within one's own self. You can have all the indicators in the world, but the real "magic" in trading is mastering your mind. I do "SIM" and I do "LIVE" and I've done more "LIVE" trading of late, but I'm really anxious to do this and not worry about having to do my "day job" to make a living on a consistent basis and have trading be my "day-to-day living." I think Johnny Carson said it best when asked. He said, "Money is Freedom." It really is. I'm not quite there yet, but I'm a lot closer to it than I've been in past remembrance. I've put some "tuition money" into this game like everyone else here. It's the only way.

I thought about writing this post, but the thing that made me write it was Johnny Cash's post saying something along the lines of "I NEED to do this; this HAS to work...." or something along those lines. I hope that he reads this and keeps in mind that this isn't something that's going to happen overnight. Sure, you might get lucky for a string or two of trades, but you WILL get your ass whooped in this game. It WILL happen. You have to know this. Johnny Cash: please keep this in mind and don't think that this is going to happen overnight; it's not going to. In the words of Steely Dan: Don't chase the dragon.

Anyhow, those are just a few thoughts going on in my mind at the moment.

Good trading, all.

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Last Updated on November 7, 2009


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