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  1. #1
    Junior Member ProteinJunky's Avatar

    What is the next step? [Long Post] !!!

    Hello and good trading to everyone.

    I have been on the journey to becoming a full time trader for about the last year and a half, with about 2 years of off and on study before i did my first real money trading cycle.

    When i did my first round of live trading i was very over aggressive, doing to many trades a day and not giving myself anytime to rest, trading 15-30+ hour long trades per day, becoming mentally fatigued as well as physically fatigued, from my job at the time, needless to say, after 6 or 7 months of hard trading and little sleep i blew my initial deposit and did not reinvest.

    Needless to say i was crushed.

    After two years of solid training and testing to have it all go after such a long battle as well, was just morally and emotionally devastating.

    In all honesty i believe it was the first time in my entire life i faced 'absolute'defeat, coupled with the fact that my dad had ended up in the hospital for a serious operation and i lost my job, due to an unsympathetic boss did not help what-so-ever.

    But enough of the sappy, sad, bullshit.

    I dusted myself off and realized where i went wrong, what needed to be changed and adjusted and what needed to be cut out all together, deciding to focus on just once currency pair and study it intensely, as well as cut out a lot of counteractive indicators.

    With all this in mind, and another huge demo cycle under my belt with a reformed strategy, i think i am ready to reinvest.

    My question is what is the next step in reinvesting as far as how to approach it, and if there are any traders here who have been through this as well how did your second capital investment go and what mentality did you have?

    The plan is to trade casually and not use the all or nothing mentality i had last time, capping trades at 5 per day 3 or 4 days a week, and waiting for a very likely profitable trade to take, not trying to find one every single hour of the day.

  2. #2
    Administrator Martin Kay's Avatar
    firstly, I;m sorry to hear about your dad, and hoping he's much better now. A job is replaceable, a dad... well you know.
    I know you're looking for an answer regarding your second investment. But I rather focus on the mental sides of your everyday life.
    ONLY INVEST MONEY YOU CAN AFFORD. it's does not really matter how much is it.. you can be a millionaire or a brokeass. So it's all about what you can lose.
    Second, I feel you can do much better as a trader if you make your everyday life a bit more stable. I don't know if you want to make trading your day job, but if you do, you should be aware that you're becoming somewhat of an entrepanur, and again, losses are predictable.

    so whatever decision you make, be aware of the consequences. and make things better in your everyday life, whether it's family, friends or work. Im only saying this because I feel from your text that you need a shoulder, and I personally hope our forums could give you one (:
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  3. #3
    Legendry Member willyw's Avatar
    Listen to Okane's advise

  4. #4
    Legendry Member milos's Avatar
    You're in the right place.

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