It took me 6 days later to wish my friends here a Happy New Year, 2012. Sorry about it, rather disturb. I am facing some personal problems recently, unable to concentrate on anything I'm doing. Trying very hard to calm down, look for solutions and tread carefully to salvage the situation. Can't believe I'm facing a mid life crisis.
Coconut has been lonely here expressing his thoughts and honestly revealed his huge losses last year. That's the risk involved in trading, the ecstasy and happiness in winning versus the pain and sorrow in losing. I've been through the various stages of such emotions, experience that made us wise, sometimes full of regrets, wish I can turn back the clock.
Trading has been extremely tough last year with lower volatility and liquidity. In the past, I used to encourage anyone who is keen in trading not to hesitate, now, I would ask them to seriously consider it carefully before taking the plunge. It's simply not easy. Remember, it's a negative, negative sum game.
It take lots of courage to admit our mistakes, I really salute Coconut for doing that, cut all the losses and move on, not many can do it. How's the feeling? It must be real painful.
Scalping for me is just too tiring now, trying to compete with the Algos for that small piece of cake in the local contracts without any edge. No longer young and alert, have to change strategies and go for longer term trading to reduce comm.
A trader I came to know recently revealed that he made a 3000% return on capital since November 2010. He has been trading as a retail client for the past 5 years and was about to give up trading with the remaining $20k. Miracles just happen, his big break came during the Japanese earthquake followed by the tsunami, the rest is history.
So it's still possible to make the big money, futures is all about leverage. He spent 5 years learning. he has guts that's extra-ordinary, a very humble guy.
