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How many times have you walked away from trading and have come back?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
First trade was in late '90's....maybe '96... Bought the Ken Roberts course and opened an account with my High School buddy who now lived in Ohio, me Chicagoland (still). We placed one Orange Juice trade...lost $800 (the entire account) and were out of business....lol.
This was back when we had zero money...flat broke. My wife and I used to drive around looking at big houses and dreaming about living there...couldn't believe people could actually afford such huge Real Estate taxes ...as we lived paycheck to paycheck in a two bedroom apartment....one bedroom for our parrots....lol.
So, my break lasted until 2008. I had piles of paper charts, (I had his paper charts subscription receiving a chart booklet weekly ...snail mail style) from Ken's course I would sometimes study during the 12 year gap. Some how, it was part of me...in my blood.
In short: 1 walking away spell, lasting 12 years.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
As a broker, we see many clients quit their first try or even 2nd or 3rd, then come back with either a better strategy, money management rules they stick by or any other improvement they may come across during their break. It's always great to keep a journal of your trading days and how you stuck by your rules, what trades your took and or how you modified your strategy for that day and anything helpful you might find for future trades.
It's not bad to take a break or walk away from trading. It's a great mental refresh for your mind and body!
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Like Mike's OP I have blown up accounts and had some beautiful successes as well as some grinding losses. I have settles for working the markets (options markets) being satisfied to simply play each position with methods that (over time) put the odds in my favor. Its a slower grind but it works.
Thanks to Big Mike and all who shared. It is encouraging to see that persistence and hard work will pay off. I've lost count of the accounts I blew up and times I've stopped trading for 1 -6 months. But I'm not giving up, and 2020 is my year to
get it in gear and make profits. Best wishes to all.
I have only been trading for around 18 months or so but I haven't walked away yet. I have not completely blown up any accounts yet but I have struggled mightily for consistency. I am beginning to see the light of not doing enough to get myself to a place of consistency. Up until now I have had no measurable system/trade plan, I rarely journal, I constantly switch up my charts, etc. One of resolutions this year is to do the small things that truly go into being a consistent trader. I am trying to simplify my charts and use more price action to dictate how I approach the market. I will begin posting here more frequently in my spare time and keep at it until it all clicks. Cheers!
I can't say I've ever completely walked away, but I have had years or parts of years with too much else going on to focus. And if I've learned anything, it's that if you can't really focus, it's better to just take a break. Even if you can literally find the time to trade for a couple of hours, if you are distracted, tired, drained, etc. it's unproductive time.
But for me, trading requires really becoming the best person you can become...mentally, spiritually, physically, and psychologically. That reason alone is enough to stick with it.
I've never walked away from trading in general, though there have been long spells when I haven't traded. I did have and close one futures account, back before electronic trading was widely available to the masses. I did not like 'trading blind', with dated paper charts, etc. I have traded and held equities at various points along the way, so my oldest equities trading account is 20+ years old.
Our oldest futures trading account is about 11 years old, never blown up or out. See kids, money management really works!
I walked away before the 2016 election. Liquidated everything and have regretted it since. I have yet to come back, although I do have an account open now for emicro ES but havent funded it yet.
I haven't walked away! Although at one point, I was so frustrated with losing every trade, all the time after all I put into it, that I contemplated walking away. Luckily, I was talking to my wife about my frustration and my plan to quit trading if I blew that account at the time. Now she doesn't know a bit about trading or the physiological stress that comes with it. However, the surprised look on her face and her asking me why I am gonna give up really caught me off guard. Whats really funny about her comment was, she would complain that I stayed glued to my computer looking at charts all day and not spend time with her. However, it re-assured me that I knew I needed to stick with it because she believed in me and I needed to as well. I have been at it since somewhere around 2011 and continue to learn something everyday. Even when I am not trading, I am reading, or watching something about trading. I have blown more than a few accounts, but every time there was a take-a-way or lesson learned. Trading is simple, its just not easy.