Trading is serious !@#$%
If you meet someone without a trading plan who does not have substantial experience within the financial market (and trades actively) I you to pack your bags and run.
Why do I feel so strongly about this? Trading is entirely odd based. If you do not have a strategy, you are literally gambling. Consistency is key in this industry.
They say that every trader blows up their account before seeing actual success. It is not a badge of honor. Anyone account being blown up could have been prevented.
Prevented by having a strategy, risk management and post analysis of trades taken.
I’m was phase but, fortunately didn’t blow up my account. I made some stupid trades as I thought I was a higher being. Note that I am the one who setup a full fledged strategy, made shirts saying “Trading without gambling is rules” and tells everyone what I said in the opening of this post. It means nothing if you don’t stick to your trading plan.
Am I disappointed in myself? Sure. However, it’s the tipping moment of my trading career. I can say it all I want without actually experiencing substantial loss but it will never hit home if it doesn’t happen to myself. This has saved me dough in the long run.
If you think less of yourself after doing it… don’t do it again.
There is some serious bull traders have to put up with. Initially when I started I thought it would be an easy thing to do from home. I scoff at that. It is probably the hardest thing I will do in my entire life. The market just is and it will take your money without mercy.