Thursday, 21 February 2013

Time to Quit?

Talks have fallen through. The investment I was hoping for is no longer going to happen. I'm pretty fed up right now! I have been doing a lot of thinking over the past few days and am starting to think that I'm not sure I want to do this any more. I know I've come a long way and stopping now would be like giving up, which is something I rarely do but I just feel as though I'm not getting anywhere. I'm treading water when I could be freestyling into the distance. Yes, it's partly my own impatience that makes me feel this way but also, I'm not sure this is the path I want to take any more. I'd still like to be involved somehow as a trader but for the amounts I'm making and am likely to be able to make for the foreseeable future, is it worth it?

Maybe I need a change, perhaps the repetitive nature of my trading is grinding me down. Maybe it's because I'm not feeling stimulated any more by online debate or from learning new things. Writing this post, I realise I don't actually have much left to say. Or maybe I'm just pissed off because another investment opportunity has fallen through when it all seemed to be heading in the right direction.

I got into trading purely for the money. I wasn't that interested in tennis and had no interest at all in gambling. This was never about having a hobby, something fun to do in my spare time, a little extra pocket money. It was all or nothing for me - I want to make some serious cash or I'm really not that bothered. I always thought that was going to happen one day and I'm almost certain that it would if I could only compound my profits. But that isn't going to happen this year and I don't know if I can continue treading water for another year, when I could be doing something else. Without investment, I'm stuck and although I've been doing well, everything I earn goes straight back out.

I feel like I need a new challenge, something new to get the juices flowing. I'm just not sure what that is yet.

Kristina Mladenovic:


14 comments:

  1. your blog made me to stay motivated many times when i wanted to quit. i think a good challenge would be to repeat last year result or improve it without adding more stress. adding a few thousands to your strategy might affect the prices. you could start an auction and the winner receives your strategy :)

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  2. Take a break buddy, you will then come back refreshed and will be thinking more clearly.

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  3. Chin up Sultan - keep your bank in tact and build up. It'll come. Check my blog for a post all about you! GL

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  4. The key bit of your post for me is this...

    "everything I earn goes straight back out"

    If you're unable to grow your bank you are always going to end up treading water.

    You need to find a way of getting around this.

    You've come along way and learnt so much - be careful you don't stop 3 feet from gold.

    All the best,

    Mark

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  5. Continuing from my previous comment, ask yourself the question, "what is my goal?"

    "I want to make some serious cash", isn't specific enough.

    Put a number and a timescale to it by looking at your previous results as a guide. Then break it into bits - PLAN!

    At the moment you haven't got one. Just read your comments -

    "I just feel as though I'm not getting anywhere."

    "I could be freestyling into the distance."

    "Maybe it's because I'm not feeling stimulated any more"

    "I always thought that was going to happen one day"

    "Without investment, I'm stuck"

    You need to take control.

    BUT...you also need to be committed. Only you know how much you want this. If you're not passionate about achieving your goal you won't get there.

    Mark

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  6. Everyone of the previous comments are correct, your struggles reflect the true difficulties involved. Any chance you can go back to the 9-5 grind but continue trading 'till conditions allow you to try again. If it is your final decision then you must be complimented on your perseverance and honesty, along with the eloquence used when expressing both agony and ecstasy.

    If you do go, the trading blogosphere will be all the poorer for your absence.


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  7. Sorry to hear that mate. I really enjoy your blog and will be very sorry to see you go.

    As other guy said, I really think you should try to leave a small amount of your earnings in the bank each week/month. Even a seemingly small amount like 100 will do I think, as compounding really is a powerful beast!

    Anyway, whatever you decide, best of luck to you!
    Cheers

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  8. “Many of life's failures are men who did not realize how close they were to success when they gave up.”
    Thomas Edison

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  9. Quit and get back to the real life.

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  10. You don't have the "devil" inside like Cassini and Mark Iverson have. You cannot make money by been honest and trying to find something logic in the market, every day you think you know what you have to do next time, but that day will never come. The only way to make money is to feed yourself with hate and attack, you have to be a snake in this, you have to wait for hours and do nothing, every day.Its a dark world, I admit it. There is no place for correct fair pattern here. Don't listen to anyone but yourself. Forget this world, forget all the ''friends'' you have here, forgot all the interviews you have made. They are humans. Did you get any real help from them but advices to keep trying ? What to try ? Your soul is pure, all those thoughts that keep coming over and over again are the ones you should follow. That day is close. May not be today but it's coming, the day when you shut down this blog and live a happy normal life you deserve it.

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    Replies
    1. "a happy normal life" yeah right. i'd love to know what the hell that's supposed to mean..
      there's no "devil" what the hell are you talking about? true sometimes this job (it is a freaking job! if you decide to treat it that way that is..) can be boring that's very true, as it is of mostly every other job on the face of this earth.

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  11. Hey Sultan,

    Are you really considering something like that after 2 years worth of trading experiences?

    Of course trading becomes repetitive, that's when you have matured your style! Consistency and being repetitive is one of the later stages of a successful trader. But the fun of trading also comes from the R&D, by challenging yourself with new strategies, methods, sports, whatever. Of course that making large sums of money is the goal. But for that you have to establish your mission and your goals right from the beginning, and be realistic about them.

    As you've experienced by now, funding and loans are tough to get. If you have troubles in compounding because you take some of your winnings for expenses, there's always a solution lurking somewhere. You can:
    - get tighter with your budget;
    - do a part-time job for the cause;
    - liquidate a non-essential asset.

    If you are truly committed and do something like this, then you'll feel compelled to make your thing work at full throttle!
    As a final note, some food for thought: if you didn't had any kind of contact from anyone for a betting fund/loan, would you ever consider quitting?

    Cheers,
    Pedro

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  12. Hi Mate!

    Sorry to hear your thinking of quitting, but this is madness man! Think of all the effort, sweat and tears you've been through just to get to this point, of which is now success.

    I echo what pedo said above. Although outsource funding didn't effect you in regards to what people warned of, ie having to deal with losing other people's money, I think it's had a clear influence on your thoughts of quitting. Had you not been playing with larger stakes due to funding, would you be as fed up now playing with your own small stakes, keeping in mind how well you've been doing?

    If it's only not being able to compound that has you thinking of quitting, there are many things you can do...

    1. Take on more freelance writing jobs, even if that means cutting back on trading, enabling you to compound due to the extra cash coming in.

    2. If you know you have work available that will allow you to get out of debt, or whatever it is that you need to pay for, stop trading (if you have to) and come back to it when you know you will be able to compound.

    3. Watch afternoon TV for a wide choice of loan possibilities, all with a very responsible 1000% APR. If you watch when Jeremy Kyle is on, it's a win win!

    4. Go on Jermey Kyle. "I have a winning betting system, but my baby mother wants £50 a week for our 5 children?!"

    5. Sell your method to bring in the extra cash that will allow you to compound.

    For my own selfish reasons, I hope you continue as I have always enjoyed your blog.

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  13. When I read through the comments here after a while, I'm really happy people are so concerned about you. You deserved it sooo much after all youve been through. You really did a great job and you, and in the end, only you, where my great inspiration to keep on trading! There where outstanding topics, and sometimes when I walk the street and think of my life, I remember your headline "How to become novak djokovic" and I remember all the stuff you wrote about what he changed, and what he installed in his dayly work in order to raise the possibility to become succesfull. It makes me happy, because we all have this abillity to change and do something extraordinary in life.

    It would be really sad, if you would give up. All the advises from above are good and important. Listen to your heart and make a wise decision.

    Thank you very much! All the best to you from Leipzig, Germany!

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