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Jul
27

Tuesday Notes – Thoughts on Trader Failure

By Don Miller

Some heartfelt thoughts tonight addressing the difficult topic of trader failure.

And since trading remains one of those rare businesses that tests EVERY element of human nature – often simultaneously — let’s keep doing what we can to collectively strengthen and support each other.

Lastly, and above all, please remember if you fail at trading after giving it your all, that YOU are not a failure.

For you likely have other gifts to share that are desparately needed in this world.

Categories : Video Post

Comments

  1. Airelon says:

    Very heartfelt message, and great post Don. Just great. It one of those topics that needs to be said, and addressed …

    (And yeah, I wonder about disabilities from time to time as well. Especially with my eyesight)

  2. traderboy says:

    Thank you for the post on trader failure Don. Definitely a topic not spoke about much at all when it is a part of life especially when it comes to small businesses & trading as you mentioned in your post. Thank you for mentioning the importance of supplemental income as well.

  3. Erwin says:

    Hi Don

    Are you aware if the industry has developed a questionnaire to weed out people that should have no business trying to trade?

    I have noticed that there are some people that cannot manage risk, do not understand probability, cut winners short and hope losers come back and worst of all, cannot learn from their mistakes. Of course a questionnaire can never stop anyone from trading but at least they could get a cautionary warning ahead of time for those that fail the questionnaire.

  4. E-Mini Player says:

    Excellent! Some very important points in this video

  5. Ben says:

    Really excellent post Don. It’s a cut throat business.

    Check out this speech by Paul Tudor Jones discussing his own failures and how they made him stronger:-
    http://www.scribd.com/doc/16588637/Paul-Tudor-Jones-Failure-Speech-June-2009

    Best
    Ben

  6. Eric says:

    Nice post Don! The fact you talk about issues like this is one reason I continue to follow your blog. This is something the trading community and trading education industry conveniently avoid discussing.

    Separately, I wanted to thank Ben for posting the link to the Paul Tudor Jones speech about Failure (see Ben’s comment below).

    -Eric

  7. George says:

    For some of us, this is our last resort because we weren’t able to do anything else.