What can I say guys, we all need a little help, a little support. Day trading is a challenging business to say the least and some days we need all the help we can get. Those losing days can be tough and sometimes we need to seek council from someone we trust, but we need to be careful where we look for support because negative feedback can be devastating if we listen to the wrong people.
Many day traders seek support from friends and family, although SOMETIMES the ones closest to us can support us and encourage us; sometimes they can hurt us as well. More often than not, discussing your day trading business with anyone OTHER than a fellow day trader can be a complete disaster. It’s not that friends and family mean to do this, but they can do this in many cases because to be straight to the point they just don’t understand what it is we do exactly. Be honest with yourself here: How many times have YOU passed judgement on a business idea that a friend you know started and you have no earthly idea what they are really doing?
Many people that do not day trade the markets view trading as a “pipe dream” or even gambling. Is it gambling? Maybe to a degree it, but it’s more calculated risk rather than gambling in my opinion. Gambling to me is throwing dice or randomly pulling the lever on a slot machine, trading at least provides you a way to not only have a back tested trading system, but you can control the loss limits as well. Of course you can have a cutoff point when you’re playing cards in Las Vegas as well, but again, in my opinion, day trading can offer higher probabilities than waiting for the “luck of the draw”. In trading you can actually get an idea, provided you have the right tools, of where the market may be headed.
“Tossing the dice” makes many people uncomfortable and with that being said, MANY of your friends and family may NOT be supportive of your day trading career. So if you can’t talk trading with your brother, neighbor, or even you wife, where will you turn when you need help? One of the best forms of support for day traders can be found with a day trading room such as what we provide at the Oil Trading Group (OTG). Our day trading room, as well as others, can provide a supportive environment for fellow day traders. You trade, we trade and we completely understand the challenges, frustrations, and the victories that are produced from trading the oil market (or any market) on a daily basis. Without question the right day trading room can provide you with the support that you need.
Staying positive no matter what your day is like is second only to sound risk management. Strong risk management principles are what we strive to provide here at the Oil Trading Group. You can look for support wherever you want, but doesn’t it just make plain sense to seek support from fellow traders like yourself? If you’re a heart surgeon wouldn’t you seek council from another cardiac doctor? I bet you would! Discussing trading with someone that does NOT trade is like talking about working on your car with someone that is not a mechanic. The other thing we need to do is surround ourselves with supportive, positive people; you friends and family aren’t bad people for NOT supporting your day trading business…. they just don’t get it.
There’s a whole community of traders out there just like those we have here at OTG, I suggest getting your support from fellow traders, people who will “get you” and understand what YOU go through to be successful.
Want the support you need for long term trading success, start with a free trial here