Are you SURE you're a trader? - Psychology and Money Management | futures io social day trading
futures io futures trading


Are you SURE you're a trader?
Updated: Views / Replies:1,743 / 4
Created: by GaryD Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Are you SURE you're a trader?

  #1 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received

Are you SURE you're a trader?

I posted something earlier that I thought might be helpful as a stand-alone thread;



There's a story, a little off topic, but it applies. I am a vegetarian, have been for over 20 years. I also studied eastern religions in the past, and in that pursuit came across a tale of a student who wanted to study with a certain "master".

The master refused the student, saying that he only accepted students who were vegetarians. "But I AM a vegetarian" proclaimed the student. The master still said, "No, you are not."

The student begged and persisted, and finally the master told him, "Go away, and eat nothing but meat for the next thirty days. If you can do that, I will accept you as my student."

The would-be student was confused, and asked, "but master, I can't do that..." But the master's terms were not negotiable, and so the student set off to start his 30 day diet of NOTHING BUT meat.

Several weeks later the student returned to the master, and broke down in tears at the master's feet.

"Master, I tried so hard to do what you told me. I have had nothing but meat for over 3 weeks. Not a piece of bread, not a single vegetable, just meat, meat, and more meat. But, I am so sick of it I now that even the mention of it makes me sick. I am so sorry master to have failed you, but I cannot eat one more bite ever in my life."

The master smiled and said, "Ah, now you are a vegetarian!"



For me, I was a "trader" long before I should have been. I was going to make millions, and have had incredibly profitable days... But even though I convinced myself that I had studied hard, knew the rules of trading, researched probable strategies, backtested my butt off... I was not a trader. I was a fool, I was cocky, I was impatient, I was naive.

Blow up a few accounts. Risk everything and loose it. Do it again. And again and again. Until you can't stand the thought of ever having it happen. That was my path. And then I became a trader.

We all already know the odds are against us. When you play with leverage, make sure you do it on your terms. Trading should not be looked at that much differently from being an insurance underwriter; Know your market, know your odds, take only the risks that make sense.

Stay Safe! And make some money!

Reply With Quote
The following 15 users say Thank You to GaryD for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading Apprentice
Chico
 
Futures Experience: Intermediate
Platform: ninja, tradestation, currinex, mt4
Favorite Futures: Forex
 
Posts: 7 since Aug 2011
Thanks: 1 given, 4 received

One more thing to note


Bingo. You hit the nail on the head. Trading is a business. Not very many businesses last too long if they put all of their money on one marketing event. Eventually you have something that bombs.

Trading attracts the best and brightest minds from all across the world. Is is funny how many people come in gun slinging and thing that they are going to make a million dollars. Reality is that trading is a business and needs to be treated as such. Stay disciplined to your rules! That is the only way you have a fighting chance in the markets.

Reply With Quote
The following 2 users say Thank You to fxscott for this post:
 
  #4 (permalink)
Trading for Fun
Singapore, Jurong West
 
Futures Experience: Master
Platform: Metatrader
Broker/Data: OANDA
Favorite Futures: Currency
 
Nasdin94's Avatar
 
Posts: 128 since Oct 2011
Thanks: 11 given, 106 received


GaryD View Post
I posted something earlier that I thought might be helpful as a stand-alone thread;


Blow up a few accounts. Risk everything and loose it. Do it again. And again and again. Until you can't stand the thought of ever having it happen. That was my path. And then I became a trader.
\

Insanity, doing something over and over again and expecting things to be different each time.

Reply With Quote
The following user says Thank You to Nasdin94 for this post:
 
  #5 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received


Nasdin94 View Post
Insanity, doing something over and over again and expecting things to be different each time.


Absolutely. My obsession to become a trader exceeded anything near normal. I came into trading after a major financial loss (not trade related), and in my subconscious was determined to figure out how to get even.

But, I did not necessarily do the same things over and over, except for the part about losing money...

I tried every indicator I could find, took a lot of classes, studied wth other traders, read books, watched charts 18 hours a day, backtested for days straight, slept with my laptop in bed for months at a time. Friends were commenting to each other that I had completely lost it. But every time I got knocked down, I would shake it off and get up again. Complete insanity and complete obsession are indistinguishable sometimes.

There were some sizable wins mixed in there, but the real demon to my success was my motivation.

I finally accepted that I had lost millions of dollars, and it was ok. I accepted that trading was not a lottery ticket back to where I had been. I accepted that trading takes a lot of patience and learning and time. I accepted that when my trading has too much importance to me, I do not do as well than when it matters less.

What I went through is not what it should take for a sane, intelligent adult. But my life experiences colored my view of the world for a long time, and it lead me to hell and back numerous times until I was able to regain my personal bearings. The happy ending is, that through the process I learned a lot about myself and a lot about trading. An unfortunate event in my life sent me spiraling down a path that I never would have chosen otherwise, but in the end I gained from the whole experience.

Reply With Quote
The following 14 users say Thank You to GaryD for this post:

Reply



futures io > > > Are you SURE you're a trader?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Do You Think of Yourself as a Trader? tosmonkey Psychology and Money Management 3 January 10th, 2011 08:53 PM
RJay's "Trader Volume" and "Trader Tick" Indicator Suites RJay The Elite Circle 20 December 20th, 2010 06:01 PM
Confessions of a Trader redratsal Psychology and Money Management 1 December 13th, 2010 05:27 AM
C TRADER PRO ... anyone using it? Trader.Jon Trading Reviews and Vendors 5 May 16th, 2010 02:24 PM


All times are GMT -4. The time now is 06:36 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.11 seconds with 19 queries on phoenix via your IP 54.145.51.250