Time to Give Up - Psychology and Money Management | futures io social day trading
futures io futures trading

Time to Give Up
Updated: Views / Replies:70,115 / 441
Created: by Big Mike Attachments:4

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

Thread Tools Search this Thread

Time to Give Up

  #441 (permalink)
London UK
Futures Experience: Intermediate
Platform: TT/Invesotr Rt/DTN.IQ
Broker/Data: LCT/Iq Feed
Favorite Futures: Dax/Bund/Dow/US 10 yr futures
Posts: 289 since Jul 2013
Thanks: 40 given, 100 received

Big Mike View Post
What about the guys who are doing things right?

- Only trading with money they can afford to lose
- Open and honest with their spouse, kids
- Steady income outside of trading that is more than sufficient to cover all life expenses while learning to trade
- Realistic expectations, knows that is likely to lose for a long time before starting to win, part of education
- Spends all of his time on research, homework, statistics, and review -- and not on indicators or trading rooms
- Creates accountability with a journal and his support network of trading friends, and his spouse

List continues.

For these guys, this thread does not apply. In fact, for these guys, they should be applauded for their conservative approach instead of thrill seeking holy grail fixation.


I don't know if it's possible but I think the advice in this post should be the front screen to futures.io
If you haven't got all that is mentioned in those bullet points then statistically speaking you're pretty much certain to fail.

Reply With Quote
  #442 (permalink)
Elite Member
Norwich, UK
Futures Experience: Beginner
Platform: Multiple:research&executi
Broker/Data: Started with Stage5/OEC ... multiple
Favorite Futures: Anything found profitable goes ...
andby's Avatar
Posts: 141 since Jul 2012
Thanks: 82 given, 55 received

Big Mike View Post
So is trading unique in this area, or does this apply to everything in life?

For example, if someone simply has the willpower to be better than Tiger Woods or Michael Jordon, or if someone had the willpower to land on the moon instead of Neil Armstrong, does this mean that they have a chance in hell?

No, it does not.

Willpower alone is not nearly enough. Willpower is a prerequisite. It is not an advantage or edge.

Not everyone is cut out to be a trader.


But many don't see this. It's a mirrors game. Here is the trick: many pursue this avenue as they see it as the "easy" way/answer to all their problems. I believe many of us felt this in day 1 of this journey. There are some persisting in this state for years and years (is this what you see @BigMike here on the forum?)
So, for those experiencing a set-back in they pre-trading life, the journey is twice as hard, as they have the wrong motivation & mind-set all-together: trading is seen as a short-cut to all their problems and a way to avoid facing life's reality. There is however a small procentage that wake up to reality and can steer direction through the rough lessons market teaches them.

Nonetheless, to be successfull in this avenue, the very skills that would make anyone successful in their day to day non-trading life, are a must - I believe.
1) Do you have a happy life now outside of trading? Yes : then more likely than not, you're more fit to succeed in this.
2) Do you have a miserable life (such as jobless, etc) - then likely you're not best fit for this.

3) But if you're in situation 1, why would you pursue this - unless you have a real passion for it ... no reason whatsoever.

People giving up their job to pursue this are a different kind of animal: they're aware of their abilities, they could have been full time employees to their pension, but they want to change something. They want more. This % is small. 2 & 3 probably account for the 95% of the turnover in this business.

Last edited by andby; October 23rd, 2017 at 09:09 PM. Reason: typo
Reply With Quote


futures io > > > Time to Give Up

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


Ran Aroussi: TBA

Elite only

Similar Threads
Thread Thread Starter Forum Replies Last Post
Give this a listen RJay Psychology and Money Management 3 March 12th, 2016 11:54 AM
Will Bernanke Give the Market What It Wants? Quick Summary News and Current Events 3 January 24th, 2014 12:37 AM
Will the Election Give the Market What It Wants? Quick Summary News and Current Events 0 November 3rd, 2012 01:50 AM
I give MC yet another chance... but nothing's different this time around. josh MultiCharts 8 September 4th, 2012 04:51 AM
Morgan Stanley CEO: Give Facebook a 'Little Bit of Time' Quick Summary News and Current Events 0 May 31st, 2012 07:20 PM

All times are GMT -4. The time now is 12:29 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 2017-12-10 in 0.04 seconds with 19 queries on phoenix via your IP