Through the many years I have been trading the forex market and for the past 2 I have been building and trading automated trading systems I have more than a few times thought about quitting forex trading. Many of you may understand what I am saying here. There are a few times when your trading when the frustration and failure are so evident that you are just wishing to forget about the whole thing and move to something else. I want to dedicate today's post to this matter, I want to explain my personal experience to you and give you some advice on how to avoid getting burned out and so frustrated that no other path beyond quitting seems possible.
The first time I wanted to quit trading was definitely when I lost my first live account (sounds familiar ?). It is never easy to go into trading with so many hopes and dreams and then have them crashed within a few weeks. Definitely moving on and continuing to trade was not an easy thing to do and perhaps what mostly motivated me in this area was the fact that I took a deep look into my trades and my mistakes and I was confident that I could get them fixed. However this was actually not what happened leading me into the wiping of my second forex account a few months later. I can say in retrospective that the problem back then was my inevitable desire to get rick quickly. I then kept forex in the background for several months, trying to study as much as I could to try to solve my problems with the market.
Truly what then got me into trading again was the promise made by automated trading and then sometime later by automated trading system creators. I then found out that this was nothing more than a land filled with scams and deceit. Little did I know when I read the first EA product website that everything was nothing but an empty promise. However, being a scientist, I have a very high tolerance for frustration and a very analytical way of approaching things so I decided that if I was going to survive all these scams and find the "one true and good EA" I had to commit myself to do this in a way in which I couldn't easily quit. This is when this website came into shape. I wanted to go out, review and tests experts and find the true jewel which would make me rick.
In time and analysis, I started to realize the true make up of long term profitable trading systems and I started to see the real reasons why all those commercial automated trading systems out there failed. I started to see the holes within the evidence they provided and I started to see through all their "evidence" and gimmicks. Then I realized that if I ever was going to make any money in forex trading I needed to put my knowledge to work and build automated trading systems that could be profitable in the long term by myself. In order to truly commit to this endeavor I learned mql4 (I knew C and fortran form before so it wasn't terribly hard) and started to program what I thought were sound adaptive approaches to trading into expert advisors.
This is about the time when I started the newsletter because I realized that this would be in fact a way of not being able to avoid staying commited. I would not be able to just forget about the market or my systems when things turned sour and draw down periods arrived. I would have to stay there and analyze the most harsh market conditions and worst trading results whenever they happened and this fact that I had to "stay on top" of the market because of my commitment to my subscribers was definitely something which greatly contributed to my understanding of the markets and the subsequent development of more profitable systems.
In retrospective I think that I would have never been able to get to the point of "living from the market" in which I am today if it wasn't for this website. Definitely I found out that having the "obligation" to stay commited helped me a lot to avoid quitting when I felt like doing so, it helped me to deal with bad trading periods adequately and to really trust and have confidence in all the knowledge I have acquired through the years in forex trading. I would certainly recommend this approach to anyone who wants to succeed in trading in the long term. Build a commitment to other people around your trading, make up a blog with a trading journal, make up a thread in a forum around your trading and post there everyday, any idea which makes you "have to" stay on top of your trading regardless of how you feel about it will be a great way to avoid quitting when you want to.
Now I can tell you that I truly enjoy posting on this website everyday and I feel like I have learned tremendously for the past 2 years thanks to it. If you would like to learn more about what I have learned about automated trading systems please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !
The first time I wanted to quit trading was definitely when I lost my first live account (sounds familiar ?). It is never easy to go into trading with so many hopes and dreams and then have them crashed within a few weeks. Definitely moving on and continuing to trade was not an easy thing to do and perhaps what mostly motivated me in this area was the fact that I took a deep look into my trades and my mistakes and I was confident that I could get them fixed. However this was actually not what happened leading me into the wiping of my second forex account a few months later. I can say in retrospective that the problem back then was my inevitable desire to get rick quickly. I then kept forex in the background for several months, trying to study as much as I could to try to solve my problems with the market.
Truly what then got me into trading again was the promise made by automated trading and then sometime later by automated trading system creators. I then found out that this was nothing more than a land filled with scams and deceit. Little did I know when I read the first EA product website that everything was nothing but an empty promise. However, being a scientist, I have a very high tolerance for frustration and a very analytical way of approaching things so I decided that if I was going to survive all these scams and find the "one true and good EA" I had to commit myself to do this in a way in which I couldn't easily quit. This is when this website came into shape. I wanted to go out, review and tests experts and find the true jewel which would make me rick.
In time and analysis, I started to realize the true make up of long term profitable trading systems and I started to see the real reasons why all those commercial automated trading systems out there failed. I started to see the holes within the evidence they provided and I started to see through all their "evidence" and gimmicks. Then I realized that if I ever was going to make any money in forex trading I needed to put my knowledge to work and build automated trading systems that could be profitable in the long term by myself. In order to truly commit to this endeavor I learned mql4 (I knew C and fortran form before so it wasn't terribly hard) and started to program what I thought were sound adaptive approaches to trading into expert advisors.
This is about the time when I started the newsletter because I realized that this would be in fact a way of not being able to avoid staying commited. I would not be able to just forget about the market or my systems when things turned sour and draw down periods arrived. I would have to stay there and analyze the most harsh market conditions and worst trading results whenever they happened and this fact that I had to "stay on top" of the market because of my commitment to my subscribers was definitely something which greatly contributed to my understanding of the markets and the subsequent development of more profitable systems.
In retrospective I think that I would have never been able to get to the point of "living from the market" in which I am today if it wasn't for this website. Definitely I found out that having the "obligation" to stay commited helped me a lot to avoid quitting when I felt like doing so, it helped me to deal with bad trading periods adequately and to really trust and have confidence in all the knowledge I have acquired through the years in forex trading. I would certainly recommend this approach to anyone who wants to succeed in trading in the long term. Build a commitment to other people around your trading, make up a blog with a trading journal, make up a thread in a forum around your trading and post there everyday, any idea which makes you "have to" stay on top of your trading regardless of how you feel about it will be a great way to avoid quitting when you want to.
Now I can tell you that I truly enjoy posting on this website everyday and I feel like I have learned tremendously for the past 2 years thanks to it. If you would like to learn more about what I have learned about automated trading systems please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !
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