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My challenge of being a consistent trader


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My challenge of being a consistent trader

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  #1 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

Im sitting infront of my screen and see here a good trade location...and there...and here again...
So why the f*ck am I down again?!...

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  #3 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received


To be a trader was my dream, the last 20 years or so. Nevertheless after I graduated I decided otherwise because I realized that I am not like the people which you find in an investment bank...and anyhow, everybody in my family was of the opinion that a "secure" job was the better alternative.
Thus I started out as a controller in an international company and followed this way through several branches.
Within 5 years I was promoted several times and double my income...
But I was not happy...

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  #4 (permalink)
Munich, Germany
 
Experience: Beginner
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Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

on Friday I deposited 1.000 @ $1.140

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  #5 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

$ 1.571 was result from yesterday

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  #6 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

Equity for today

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  #7 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

...you have to subnstract some for commissions. etc...

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  #8 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

I have already a small loss... market is moving stranged somehow...perhaps it is better to sit on handss for a while...

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  #9 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received

ok. did some trades in NQ which lead me nowhere. Including commission I am down $ 8.
Copper and Gold also seem not to have favorable price action. I stop trading for today. Otherwise I am poised to take a hit.

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  #10 (permalink)
Munich, Germany
 
Experience: Beginner
Platform: not important
Trading: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 102 received


The background of "The 1,000 $ Challenge":

In every job I worked my ass off. Often 10-14 hrs a day. Sometimes 6-7 day sper week and even in my vacations. With the earned money I took care for my family in that I bought a real estate. And somehow...somehow I even managed to save some capital for my dream: trading. I reduced gradually my hours in the company and used the won time to for studying the markets. Meanwhile my wife stayed at home and cared for our little children. But she missed her job and wanted to go back to office. So there was it - my opportunity. My wife is the best! We agreed to switch roles. Within 10 days she found an employement and I was Mom. And the best of course was, that I really and seriously could focus on trading. Life was perfect! This was in spring of last year. I put in a lot of dedication and after a bumpy start I became profitable in late autumn.

Then everything suddenly changed...

In a bad accident I almost lost my wife and we lost our baby. That completly broke me. She was many weeks in hospital and to forget the pain I was heavily drunk everyday,. And, you could perhaps guess, I was "trading". My account (I had not all money on it) was melting faster than ice cream in the hot summer sun. Thus I refunded it. It was empty again, refunded, empty again refunded....To be honest I do not know exactly how much I lost. At some point I lost the overview. But within weeks I burned through an amount of lower six figures. I lost everything. The worst thing is, my wife does not know yet. I am a tall guy, almost 100 kg and did a decade of kickboxing and muay thai and even stayed cool when a crazy one went with a knive for me...and I am full of fear. Fear of what this gracful woman and my children could think of me.
But here I am. You have to play with the cards life gives you...and yup...life gave me the last $ 1,000.

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