Good morning.
Yeh. When I read these posts first thing this morning I wanted to say “Hey: you’re picking on the wrong poster. @anon46773462 wasn’t the one being negative i.e. it was me”!!! LOL!!!
But yes: some really great posts overnight.
Like I said earlier: I’ve painted a really gloomy picture no doubt. Others have now come along and diluted such gloomy picture. And that, to me anyway, has created BALANCE which really was my point all along. Put another way: there are things here now that have been addressed and discussed which you really don’t usually find being addressed and discussed. Most threads and posts bang on about risk management and technical analysis and how much money you can make etc. etc. etc. There’s simply much more to it than that. And while this thread has gone off topic: I believe it contains some sound advice and food for thought. And if after reading all of this somebody still wants to give up their day job and security and start trading for a living: I sincerely wish them well. If nothing else I’d like to think that these posts from everyone have at least given them some deeper insight thus enabling them to make a more informed decision.
The above all being said: I’m in no way retracting my steps here. My experience in this business for the first five or more years was painful to say the least. I’m talking about losing upper six figures of savings, three luxury cars, a family home that was fully paid for, my family, and some other people’s money. I know what pressure is. Believe me. And I nearly ended up, quite literally, on the street. And that is all for real. It is a real world example coming from a real person that is sitting here typing this to you today i.e. not something abstract or just some words on a page. And my point really is that over those years: my posts and advice given and taken and my dreams and aspirations were absolutely no different to the stuff that makes up more than half of the new posts around here on various threads today. I also had stars in my eyes for a good few years. And I’m not a stupid person by any means. Nor am I a gambler (something that frankly I absolutely loathe and despise with a passion). But true to form: over those years I was able to make just enough money in sporadic bursts and make just enough money to be able to build up a track record for a few months to lull me (and others) into thinking that I’d finally cracked it. Next thing: over confidence and, well, the rest if history (in fairness though the credit crisis didn’t exactly help matters). Rinse and repeat. Over and over. And I was totally in love with this business i.e. with every nuance. I couldn’t get enough of it. I couldn’t get enough information about it. So passion wasn’t the problem. But passion wasn’t enough (I’ve read more than one post about this of late). Commitment wasn’t the problem either i.e. I lived, ate, and slept this business. At the end of the day and with hindsight: the only joy I got from it was the time I spent on these very forums having discussions with the likes of you (the forum members). Oh I learned a lot at the time. Learned even more when I started working for a broker. For all of that knowledge I’m eternally grateful. But just how much of all of that I learned back then has enabled me to trade profitably (albeit that the profit overall is still not what it should be i.e. even now still have one or two demons that rear their ugly heads from time to time) for the last five or so years off and on and on a part time basis is highly debatable.
In closing and just to set the record straight: somebody mentioned that they’re not sure re: my motives for being around here (again). In short and without going into the gory details: I’ve rather suddenly ended up in a position where I am left with no choice but to trade to make ends meet for the next two or three months (and believe me when I say I have no other choices i.e. it’s not been for want of trying on my part). So this should be interesting i.e. no longer am I trading simply to make some extra cash to buy musical equipment or pay for a good night out. This is now a question of survival for the next few months. Am I nervous??? Yes I am. But at least I know that I am (now) capable of making some money in this business (a four to five year track record is good enough for me) just as long as I don’t let the pressure get to me and just as long as I don’t get ahead of myself (these are, again, probably more notes to self than anything else). As to why I’m posting again: ironically (in the context of this thread) it goes a long way toward alleviating the boredom, loneliness, and isolation. And, well, old habits die hard I guess i.e. I suppose if I can help somebody else to not make the same mistakes I’ve made well then it’s all good and I’ve accomplished something worthwhile. And as much as I have berated this business I really do still enjoy talking about it and discussing the various aspects of it. I must say: it does kinda feel like coming home to be honest. I guess in spite of my posts to the contrary: it does still excite and enthuse (I just think the key here is to not let either get out of hand).
So that’s it. Probably a lot more than you wanted to or needed to know. But there you have the low down.
Once again: really happy about the direction this thread has taken and the posts (even although it’s gone off topic to a rather large degree).
Regards,
Dale.
