Traders Anonymous®

Traders Anonymous® Do we need that?

As most of the retail traders are loosing money we can ask yourself do we really need something similar to Alcoholic Anonymous for traders.

That is why I created a group in our social network.

Traders Anonymous® is a fellowship of men and women who share their experience, strength and hope with each other that they may solve their common problem and help others to recover from trading alcoholism. The only requirement for membership is a desire to stop drinking (trading). There are no dues or fees for TA membership; we are self-supporting through our own contributions. TA is not allied with any sect, denomination, politics, organization or institution; does not wish to engage in any controversy, neither endorses nor opposes any causes.

Our primary purpose is to stay sober and help other traders alcoholics to achieve sobriety.

I think you with some sense of humour you will understand that. Those who lack it or are just too proud they can miss that. We just do not care.

Now seriously there is a Trading Alcoholism, it is called over-trading.

"If investing is entertaining, if you are having fun, you are probably not making any money. Good investing isboring." - George Soros

The successful traders I know are not treating trading as something exciting, it is a business, a hard business, the name of the game is money. If you are going to pay your bills you need to put those pips into your bank account. They have rock solid psyche. Really this business is not for everybody. When their system tells them to buy they buy. When their system tells them to sell they sell. That is it. And to have a robust system and to maintain the profitability of your system that is a damn hard everyday work. 

Over-trading is dangerous, emotional over-trading is even more dangerous. It is trading alcoholism. This post about those who are sucked into the retail Forex. Please beware, unless you have several years of experience maybe you are going to loose your account, at least 90 % do. 

So what can you do in order to fight the trading alcoholism or the over-trading?

1. Use mini lots of 0.01 lot. 

2. Start to distribute your trades between the demo account and the real account.

That will stop the bleeding. In another article I will continue the topic.

You are invited to join.