Hi there
What did I give up to be a trader?
Well, long story short. I was retrenched from my job in October 2011. By then I was trading on the side, and making money consistently. So when I was retrenched I decided to take my retrenchment package, put some of it into an account and be a "full time" trader.
I was breaking even or just making money on a monthly basis. After a rough 2012 I decided to sell my car and downgrade to a smaller car so that I could put more funds into my trading account. Well, was that a bad idea! Needless to say I blew my account in 2 months on some risky high leveraged trades.
I then had to move out of my apartment in a great neighbourhood and move back in with my mom (in all fairness she has a big house and was struggling a bit financially. Well that's what I tell myself.) I was almost at the point of bankruptcy, so it had to be done.
So with my tail between my legs I decided to start from scratch. I spent countless hours on FF, read a ton of books and studied my charts like crazy. After following the EURUSD thread, I decided PA was king. So I scrapped all my beloved indicators and just watched the charts. Credit goes to some of the guys on the EURUSD thread, namely kbmoonshinex, MaxDoom and Math_GB. These guys IMO are the epitome of top PA traders. They call it as they see it, and generally are right.
So, where do I stand now? I'm moving back into my own place next month, albeit a bit small, but at least I have my own privacy again. My trading is at it's best and I can finally see the light at the end of the tunnel. I'm happy in my trading and happy in my personal life.
So what did you give up to be a trader and would you do it again? I for one, would do it all again. So I'm interested to hear what others have given up, I'm sure there are guys out there who have given up way more than I have.
Keep well, and all the best
Terra
What did I give up to be a trader?
Well, long story short. I was retrenched from my job in October 2011. By then I was trading on the side, and making money consistently. So when I was retrenched I decided to take my retrenchment package, put some of it into an account and be a "full time" trader.
I was breaking even or just making money on a monthly basis. After a rough 2012 I decided to sell my car and downgrade to a smaller car so that I could put more funds into my trading account. Well, was that a bad idea! Needless to say I blew my account in 2 months on some risky high leveraged trades.
I then had to move out of my apartment in a great neighbourhood and move back in with my mom (in all fairness she has a big house and was struggling a bit financially. Well that's what I tell myself.) I was almost at the point of bankruptcy, so it had to be done.
So with my tail between my legs I decided to start from scratch. I spent countless hours on FF, read a ton of books and studied my charts like crazy. After following the EURUSD thread, I decided PA was king. So I scrapped all my beloved indicators and just watched the charts. Credit goes to some of the guys on the EURUSD thread, namely kbmoonshinex, MaxDoom and Math_GB. These guys IMO are the epitome of top PA traders. They call it as they see it, and generally are right.
So, where do I stand now? I'm moving back into my own place next month, albeit a bit small, but at least I have my own privacy again. My trading is at it's best and I can finally see the light at the end of the tunnel. I'm happy in my trading and happy in my personal life.
So what did you give up to be a trader and would you do it again? I for one, would do it all again. So I'm interested to hear what others have given up, I'm sure there are guys out there who have given up way more than I have.
Keep well, and all the best
Terra