Hitting rock bottom feels horrible. It is painful and humiliating. You hit it when you lose money you cannot afford to lose. You hit it when you gamble away your savings. You hit it after you tell your friends how smart you are and later to ask them for a loan. You hit rock bottom when the market come roaring at you and yells:"You fool !"
Some people hit rock bottom after only a few weeks of trading. Others keep adding money to their account to postpone the day of reckoning. It hurts to see a loser in the mirror.
We spend our lifetimes building up self-esteem. Most of us have a high opinion of ourselves. It hurts a smart and successful person to hit rock bottom. Your first impulse may be to hide, but remember you are not alone. Almost every trader has been there.
Most people who hit rock bottom die as traders. They slink away from the market and never look back. Brokerage records indicate that 90 out of 100 people trading today will probably be gone from the market a year from now. They will hit rock bottom, crumble, and leave. They will try to forget trading as they would a bad dream.
Some losers will lick their wounds and wait until the pain fades away. Then they will return to trading, having learned little. They will be fearful, and their fear will further impair their trading.
Very few traders will begin the process of change and growth. For these rare individuals, the pain of hitting rock bottom will interrupt the vicious cycle of getting high from winning then losing everything and crashing. When you admit that you have a personal problem that causes you to lose, you can begin building a new trading life. You can start developing the discipline of a winner.
- Alexander Elder "Trading for a living"
Some people hit rock bottom after only a few weeks of trading. Others keep adding money to their account to postpone the day of reckoning. It hurts to see a loser in the mirror.
We spend our lifetimes building up self-esteem. Most of us have a high opinion of ourselves. It hurts a smart and successful person to hit rock bottom. Your first impulse may be to hide, but remember you are not alone. Almost every trader has been there.
Most people who hit rock bottom die as traders. They slink away from the market and never look back. Brokerage records indicate that 90 out of 100 people trading today will probably be gone from the market a year from now. They will hit rock bottom, crumble, and leave. They will try to forget trading as they would a bad dream.
Some losers will lick their wounds and wait until the pain fades away. Then they will return to trading, having learned little. They will be fearful, and their fear will further impair their trading.
Very few traders will begin the process of change and growth. For these rare individuals, the pain of hitting rock bottom will interrupt the vicious cycle of getting high from winning then losing everything and crashing. When you admit that you have a personal problem that causes you to lose, you can begin building a new trading life. You can start developing the discipline of a winner.
- Alexander Elder "Trading for a living"
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