Get Back on the Horse

April 5, 2006 by Trader Rich

So the question is, When Will I Get Back On The Horse?

I've been out of it for weeks now. I do think I'm in the latter stages of tearing it all down and now I need to start to build it back up. Some things have kept me busy though, like baseball season, stomach bugs, XM radio, and my full-time job as a Linux Engineer. I think I was so involved with the currency market for the last 8 months or so that I neglected other aspects of my life.

I have to be honest with all of you. I want everyone to know that I do have a lot less optimism about the prospects of trading full-time than I did in the past. A lot of people in my shoes probably would have already quit but instead of quitting, I'm taking some time to think through this. I AM NOT QUITTING. I will continue trading and posting on this blog. The Forex Project is not dead. It isn't unusual though to go to a forex trader blog and just see that one day in 2005, the posts stopped. I don't want that to happen to this site. I've put too much time, energy, and dedication to both trading and blogging.

I hope to hop back on my horse next week and I think at this point I have no choice. Fight or Flight.

FIGHT.

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Filed Under: Investing and Trading
Tagged: April 2006, energy, forex, Forex Trading, trader, trading
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Comments

4 Responses to “Get Back on the Horse”

aliv on August 14th, 2004 12:35 am

I’m glad you decided to FIGHT and get back on the horse in just a couple of weeks. It gives us all hope …

Took me almost 4 months to get up and FIGHT.
-A
Rich on August 14th, 2004 12:55 am

Thanks. I’m glad your still here too. It’s not easy but who wants to work for someone else your whole life. Not me.
Wim on August 14th, 2004 2:34 am

Hi Rich,

I’m sorry to see you are dissapointed in your trading BUT I would not give up on it. Everybody dream of being quick rick by trading forex but unfortunately only few will make it. The huge leverage attracts people because they think doubling their account each month is very easy. Personally, I think it requires more work and years to make you a good FX trader, ofcourse many don’t have the patience to take it that long and will stop after only couple of weeks / month.
I really think your goal is too high and unrealistic. Making 100,000/year with only 10K as a start is not realistic. Making 100K a year with 200K start would be more realistic when you trade well.

I would suggest keep your day job and trade lower leverage and maybe within couple of years, you can be a full time forex trader.

Only my 2 cents.
Wim
Rich on August 14th, 2004 8:10 am

Thanks Wim. I guess I felt that initially I wanted to set my sights high but maybe I sacrificed realism. The simple fact is that not too many traders mention much about potential income. Every book I have or any article I have read doesn’t really have any realistic real-world examples. Either way, I appreciate your comments and agree with you.