Sabbatical From Trading

As you may have noticed the past few months, my trading has really been waning. I decided a couple weeks ago that I needed to take a real break from trading period - practice as well as funded trading. It's not good to just limp by to make money to basically give most of it back. That really just works on one's psyche in a very bad way.

For now, I told Trade Navigator to put my account on hold, and I've also put my trading account on hold, so I'm unable to do really good practice -- this costs money for the real time data feed. However, I still have a real time datafeed with TOS, so if I REALLY want to periodically practice, I can still look at the markets periodically.

My kids are now on Summer break for 10-weeks. The past 3 yrs of trading has been incredibly stressful with all the not good personal things happening in my life. Though I've made money, I've also given a great deal back to the market. This tells me a lot about myself and my views on money. I'm not liking all of it, and I do think I can be profitable in the end and highly profitable, but am rethinking my approach.

I'm working on other forms of bringing in money, particularly passive income -- like various internet marketing things, writing, virtual assistants, etc. It will be less stressful for me if I'm able to bring in money from other avenues and not be totally dependent on trading and making money from this.

Plus, I do have 2 children who are growing and I do want to provide for their education beyond high school, as they get married, grandchildren, my retirement, current living, and all those other things many of us desire. I've really been frugal so that I could do this trading, but what I'm doing right now isn't working.

The thing is, it's really not my strategies because they do work very well. It's my mindset, discipline, organization, follow-through where I'm off. I have extra financial burdens of what occurred during my divorce that I'm still paying for.

These are not excuses or a feel sorry for me thing, rather it is reality. I gave it the best I could under the circumstances. Maybe it wasn't the greatest and maybe there are many things you could've done better than me, but this is how I handled things and where I am.

It's always much easier to live in hindsight. There were some things I listened to others, maybe almost blindly, which saved me or hurt me. Other things, I learned the hard way.

What are some things I would've done differently if I could do over again?
  • Not trusted my husband (now my ex) with ANY of our investments!
  • Not trusted any broker in their trading entries & exits!
  • Put protective stops on EVERY trade!
  • Small trades. Many trades in the 2000-2008 were way too big.
  • Searched the internet for the true costs of formal trading education. What I paid for at Bet ter Trades was WAY too much by at least 10x too much.
  • Would've bought my trading DVDs at a fraction of the cost from a third party, especially the BT's DVDs (way overpriced).
  • Searched for way better traveling costs when attending trading classes out-of-town.
  • Not traded with real money when things were super chaotic.
  • Managed my money better.
  • Not listened to the people that had me waste a lot of money buying into all sorts of subscriptions that I didn't need - this cost me tens of thousands of dollars.
  • Not been in such a hurry.
  • Dropped the pride, remain humble.
  • Stuck to my trading plan and strategies.
  • No multi-tasking while daytrading.
  • Not listened to negative people.

I'm not discouraged about my trading really, rather I'm learning a great deal about myself and taking this time to regroup. If you keep doing the same thing over and over expecting a different result, it's insanity. So, what I've been doing hasn't been working, so now I've got to do something different.

The stock market with its many differentials is still an incredible way to make money. I've been kicked pretty hard and down on the ground right now, but I'm coming back and it will be stronger, better, wiser when I do. Not giving up.

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