I'm a little late with my post today, I'll explain why again, time permitting, as there is a lesson in it.
If you have read my previous posts you will know that it took me 7 years to turn a consistent trading profit.
I'm pretty damn sure that many of you are thinking, "that's insanity, how the hell could you stick at it that long!" I also stated that I should have given up after failing for two years. And yes I should have given up, and even earlier than the 2 years. Unfortunately, and I don't even remember how, but I built the belief early on in my trading that a consistent income could be made from trading. Some how that dream seed got planted, and no matter how hard I tried I just couldn't shake it.
There were many times I sat there at my trading desk, thinking that somebody had to be looking over my shoulder, waiting for me to enter a trade, place my stop and then take me out. And of course when I didn't enter a setup that I should have, price ran perfectly in my direction. For the first 3 months I sat there at my desk with my heart pounding and an uneasiness in my gut as I waited to enter a trade. The stress of it was so bad that I had a continual pain in my chest. .
This continued for almost a year. I was cranky and short tempered with everyone around me. At times I could even be heard banging with my fists on the desk. And yes I have to man up and say that there were actually a few times through frustration at my failures, that I cried like a baby!
I can even feel that uneasiness in my gut again as I write this.
Now, I have to say that I made one fatal mistake right from the beginning. I had been investing for about 6 months in stocks using options, when I was suddenly made redundant from my job, and instead of looking for other employment, I decided to replace my income by day-trading. Now, you may be of a different character to me, but let me say this very clearly....
