What Do You Think Is Holding You Back?
April 13, 2008 by Trader Rich
"You have been at this forex thing for a while now and still are not
achieving the results you had originally hoped you would achieve. What
do you think is holding you back?"
Simple question but nevertheless a good one that made me think.
I have been forex trading for almost three years, not a sophomore and
not a senior. Three years ago I had high hopes of trading full time
within one years time. These hopes faded as the reality quickly sunk
in. The results I was hoping to achieve back then were just totally
unrealistic. I’m a firm believer that trading takes experience so
there really is no way of rushing the learning process. The more you
rush, the more chance you have of getting so discouraged that you want
to run as fast as you can away from the market.
After rethinking my initial goals, I limped around for quite a long
time. I couldn’t even put together a profitable month. During this
time, I got extremely discouraged and couldn’t even hope for achieving
anything. I was probably two months away from quitting.
Then about six months ago, I got my motivation back and wanted to
give it one more shot. A lot of things seemed to come together quickly
for me and I felt good about my trading. This was the point where I
felt like I could start setting realistic goals and I did. Since then,
I think I’ve made great progress toward reaching these goals. In fact,
I think I’ve surpassed the expectations I had six months ago.
So in response to the comment, I think I’ve achieved the results
that I had hoped six months ago not three years ago. In response to
the question, the only thing holding me back now is my renewed
motivation to excel in my non-trading occupation. This was a bit
unexpected but one must have a backup plan. I worked hard to get where
I am and I don’t want to throw it all away. Ultimately, I want to work
for me and I think trading gives me the best shot at doing that.
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For me it just the time, I get paid well for C++ programming in ‘real life’, so I have to be careful about how I balance my time.
Don’t waste your time you can become a forex trading expert
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Nice blog. Thanks for your work on it.
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Site:
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You told your self in the post along with every one else that reads it the difference in the 2 1/2 years, (the 3 yr and the 6 mo). You made the decision and then you set goals to accomplish your decision. In my humble opinion, that is the diff. in your success level. Good luck and keep setting goals.
I have the same goals as you, and in a similar work situation. I trade from 3:00 a.m. to 6:30 a.m. My daily goal is 20 - 30 PIPs. I am doing well on my goal. I participate in the Forex Factory forum, “Drawing correct resistance and support-lines”. You can see my posts on that forum by ID is DCB. I decided to be very focused on basic price action during a specific time, and then leave it alone. Good trading! DCB
Please keep these excellent posts coming. Thank you.