Dear Dale,
We might share the same sinking boat. The frustration really make me become a melancholy person for a few month...then after recover from it what I have realize it is so much about the psychology & discipline.
The price of the Education FEE (Real Money in Real Trade) it is very expensive. I believe it is worth to pay as long we are still keep on pursue the dream in Forex.
Just share of thought. The remedy & the prescription that work for me so far and getting better in trade. It is every single day, I call it "Traders Prayer" I read out loud this before I login to the trade station:-
Make Pips,
Keep It,
Repeat It!
“I AM A CONSISTENTLY SUCCESSFUL TRADER”
“I AM A CONSISTENT WINNER BECAUSE:
1. I OBJECTIVELY IDENTIFY MY EDGES.
2. I PREDEFINE THE RISK OF EVERY TRADE.
3. I COMPLETELY ACCEPT THE RISK OF OR I AM WILLING TO LET GO OF THE TRADE
4. I ACT UPON MY EDGES WITHOUT RESERVATION OR HESITATION.
5. I PAY MY SELF AS THE MARKET MAKES MONEY AVAILABLE TO ME.
6. I CONTINUALLY MONITOR MY SUSCEPTIBILTY FOR MAKING ERRORS.
7. I UNDERSTAND THE ABSOLUTE NECESSITY OF THESE PRINCIPLES OF CONSISTENT SECCESS AND, THEREFORE, I NEVER VIOLATE THEM”
“FUNDAMENTAL TRUTH OF TRADING”
1. ANYTHING CAN HAPPEN.
2. I DON’T NEED TO KNOW WHAT IS GOING TO HAPPEN NEXT IN ORDER TO MAKE MONEY.
3. THERE IS RANDOM DISTRIBUTION BETWEEN WINS AND LOSSES FOR ANY GIVEN SET OF VARIABLE THAT DEFINE AN EDGE.
4. AN EDGE IS NOTHING MORE THAN AN INDICATION OF A HIGHER PROBABILITY OF ONE THING HAPPENING OVER ANOTHER.
5. EVERY MOMENT IN THE MARKET IS UNIQUE.
“NOW MOMENT OPPORTUNITY FLOW”
Source : Trading in Zone by Mark Douglas
“THE 23 WINNING TRADING HABIT OF TRADER ”
1. Act Instantly .
(Pull the Trigger)
2. Hold a Winning Investment Until there is a
pre-determined reason to sell .
(Know when to sell before I buy it)
3. Follow your system Religiously.
(Never have Second Guess Your system)
4. Admit My Mistakes & Correct them immediately .
(Admit my Own mistakes)
5. Turn Mistakes into learning Experience.
(Learn from mistakes)
6. Pay My Dues .
(Wishing won't make it so)
7. Never talk about what I'm doing .
(Keep your mouth Shut)
8. Know how to delegate .
(Phony! Phony! Phony!)
9. Live far below your Means .
(Whatever you have spend less)
10. It is not about the Money.
(We should being pay to do this Job)
11. Love What I do, Not What I own.
(Master his own Craft)
12. Live and Breathe Investing 24 hour a Day.
(This is My life)
13. Put your Own Net Worth on the Line.
(Eat your own Cooking)
14. Preservation of Capital is Always Priority.
(Keep what I Have)
15. Passionately Avoid Risk.
(George Soros Doesn't take Risk?)
16. Develop My Own Unique Investment Philosophy .
(The Market is always Wrong)
17. Develop My Own, Personal system for selecting,
Buying & Selling investment.
(Your are what you measures)
18. Diversification is for the Birds.
(You call that a position?)
19. Focus on After-Tax return.
(A penny save is a dollar to earned)
20. Only invest on what I understand.
(Stick to Knitting)
21. Refuse to make Investment that do Not meet My Criteria.
(If I Don't know when to say "Yes." Always say "No.")
22. Do you Own Research.
(Start with the A's)
23. Have Infinite Patience.
(When there's nothing to do, Do nothing)
Source : The Winning invesment Habit of Warren Buffet & George Soros by Mark Tier
Hope it might help & work for you too!
Regards,
Rahiman
P.S.
All this is on my PC Wall Paper in order to make sure I never forget it.