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yes!!!!, as many times as I've busted out, as many times as I've hit bottom so hard I could almost throw up, as many times as I've over-traded, under traded and just plain made STUPID trades....I still believe this is doable. I've been at this game off and on for 20 years, I've made money and then lost it right back. I don't know what I can contribute, if anything.... I can tell u how to lose money in the market for sure!!
I've done well at most everything I have ever tried to accomplish in my life, I am truly blessed. But the one fly in the ointment... you guessed it...trading profitably still eludes me!!
Have you ever had a feeling that you could do something well if you had the opportunity to try it, something that most people consider impossible to do, and that feeling just won't go away. It will hide for awhile when the markets are in a calm period but when you see or feel a big trend change coming you get that old feeling again....and u cant wait to get back in the GAME!!
Those are the reasons I'm looking to get back in now, and also why I am here. I know that these emotions are also my enemy, but they are also my motivation. How does one cope with these two....thats what I am still trying to learn.
If the feel version has not worked for you then go mechanical. I have a similar story although not as lengthy. I like you experienced a lot of highs and some horrible lows but continued to believe somehow this could work. Good news is it can. Moving to mechanical system trading and then taking step further and automating turned things around for me.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
It will continue until you find a mentor,who knows how the markets really work,and will be so kind to share it with you.For money or for free,doesn`t really matter.Depends how lucky you are.
Wow, 20 years. I would think that with enough time you can figure it out but it's hard to say. If you haven't broken through yet then you have a significant mental block of some kind. You must be sabotaging yourself every time things go well. Hopefully with some introspection time you will reach your goals. Cheers and good luck!
Myself as well as others I personally know have been dupped by the "Dream Merchants" of the trading world which includes Educators, System Vendors, Ebook Authors, Private Mentorship programs and even home spun system developers selling their wares …
After spending a small fortune and much sweat, it looks like my trading is turning around.
Discarded most all conventional technical indicators and explored a new approach. Market Profile analysis.
Which takes market data and places it inside a gaussian …
Maybe you just need to find something that works > 60% of the time. Even with emotions at the optimal level and control for trading, a bad or no method is not going to make a profitable trading session however based, intraday, swing, etc.
"NoDoji" posted this in Elitetrader.com:
"If you're interested in day trading, read Bob Volman's "Forex Price Action Scalping". The fact that he trades Forex and the fact that he's a scalper is irrelevant. The lessons in price action, risk management, and psychology are the key to success and presented with a clarity (and quirky humor) I've not seen elsewhere.
Then register for a practice account with OANDA and practice the price action tactics until trading this way is as comfortable and automatic to you as driving a car.
If you're interested in swing trading, I'm not sure if there's a book comparable in its clarity and precision as Volman's book is to intraday scalping. Alan Farley's "The Master Swing Trader" is an incredible resource, but it's like the Calculus of swing trading, and difficult for a beginner.
I've found these links to provide a solid foundation for technical price action education (applicable to all trading time frames):
Every resource I've posted here leads you to consistently profitable trading if applied in combination with generally accepted risk management principles.
"
