Open letter to my wife !

Wife ,
I don't know how to start .I am sorry I blow up my account again .
This is 6th times in last 3 years .Each time like this I feel bad , feel regret and I want to quit forever .
I call my self a trader but I know I am gambler because simple all traders are gamblers .
I know I can not win but some how I can not stop .
You are beautiful woman and you deserve better man than me .I am sorry .

You made me miss Sylvestor Stallone. The man who sells his dog with 50$ to buy his meal when he followed his dream - to become a famous actor. Even his wife didn't count on him anymore. When he got his money - 35 thousand dollars to create his film Rocky, he decided to buy the dog again with the price 15 000$.

The Climb

i can almost see it
that dream i'm dreamin' but
there's a voice inside my head saying
you'll never reach it
every step i'm taking
every move i make feels
lost with no direction
my faith is shakin
but i, i gotta keep tryin.
gotta keep my head held high

there's always gonna be another mountain
i'm always gonna wanna make it move
always gonna be an uphill battle
sometimes i'm gonna have to lose
ain't about how fast i get there
ain't about what's waitin on the other side
it's the climb

the struggles i'm facing
the chances i'm taking
sometimes might knock me down but
no i'm not breaking
i may not know it
but these are the moments that
i'm gonna remember most, yeah
just gotta keep going
and i, i gotta be strong
just keep pushing on 'cause
.............
.............
ain't about how fast i get there
ain't about what's waitin on the other side
.............

The song is form Miley Cyrus, Hope you like it~

Traders are calculated risk takers
Gamblers don't calculate the risk when they take the trade, having huge leverage & without stop loss, do not know when to take losses

Hurm... how if u spend your times on learning psychology trading.. Get some books.. spend month by month to learn till it sticky at your head and heart... Hope it help... Erm.. actually I have try it and thanks god something change in my attitude to trade.

George Soros is a billionaire Forex trader

vinabao posted:
Wife ,
I don't know how to start .I am sorry I blow up my account again .
This is 6th times in last 3 years .Each time like this I feel bad , feel regret and I want to quit forever .
I call my self a trader but I know I am gambler because simple all traders are gamblers .
I know I can not win but some how I can not stop .
You are beautiful woman and you deserve better man than me .I am sorry .

Maybe you should try to lower the risk per trade?

It's a fun post OP :)
My wife actually insisted for me to open her an account and manage it, after seeing my modest results.

Don't get me wrong here, im not in a 'mine bigger than yours' mode. I'd just say simply, if one's couple relationship is directly linked to the trading results, seems dangerous to me. Especially if you have children in the middle.
Sorry to be a bit on the 'morality lesson' side, but, trading results should never impact anything else than your portfolio.
When it breaches the fence and leak into emotional or social aspects of your life, it's doing wrong, definately.

The greatest lesson to learn is not to be happy when you win, and not to be sad when you loose.

Good luck for your next account !

Dude, don't worry. We will not learn without risk. And if we don't risk we won't win.
I hope your wife will understand that.

Vinabao, remember, real traders aren't gamblers, and gamblers will never be long term profitable traders!

Traders trade, knowing that they have a mathematical edge, long term results matter;
Gamblers (well, gamble), hoping that they will eventually win big, hopefully that it can cover previous losses, it is even better if they can be rich overnight.

The key difference? Mathematical edge, we are talking about consistency, risk to reward ratio, strike rate.

I came to realize this by hard way, three months into my trading, I blew my account more than you blew yours in 3 years. I lost so much that it hurt and I felt more compelled and motivated to 'earn' my money back, by gambling more. I kept telling myself, one day, I will earn everything back. Sadly it doesn't happen, my laptop and trading platform was just a cover up for me to gamble at home.

Fortunately, I knew enough is enough, I continued to educate myself in trading. Fast forward another two years, I have achieved a profitable edge, however, I have yet to recover my losses. Losing so much of my capital previously, I've just a tiny amount to start fresh.

As a trader with the edge on my side, I know, confidently, I can recover the losses within next three years. From the point you can achieve long term profitability, you have compound interest on your side; trading isn't gonna make you rich overnight, put some effort, continuous education, backtest, forward test, you will eventually be making money from trading. There will be a day where you can live comfortably with trading income. More importantly, be proud that you did not give up on trading years from now.

When you said your wife 'deserve a better man than you', I see a man, who realize what he has done wrong. I see a man who desires to change, I see a man who deserves to be a better man than he is now. If you can't stop gambling, open demo accounts for that; leave your real account for real profits! In fact, you don't have to do that. As a former gambler, I can tell you that seeing profits in your real account is far more addictive than gambling, you should achieve that. Don't trade if you don't know how to trade yet, demo trade you should. Go take up the full lesson from babypips, read trading books (e.g. trading in the zone by Mark Douglas).

Be a real trader, I would be happy for you when the day comes and you can differentiate traders from gamblers, also being able to proudly categorize yourself as a trader. I wish you success in your future trading endeavor Vinabao.

Take the first step in faith. You don't have to see the whole staircase, just take the first step. Martin Luther King, Jr.