Is it Time to Quit Trading?

So, you continuously pour your heart into trading, but you constantly end up losing. You try your best to execute profitable trades, but no matter what you do, you just don’t seem to come out on top. Sure, you might have spent the last few months or even several years trading, but really don’t have much to show for it. Is it time to quit trading?

Yes, many people experience this sentiment, and many think that it might be time to quit trading if it is just not working out. This is totally fair, and it may very well be time for you to quit trading, at least for the time being. Let’s find out if it’s time for you to call it quits, or if it might be time for you to rethink your plan.

Quit Trading

Quit Trading if You are Struggling to Make Ends Meet

One piece of advice that we need to convey here is that if you are struggling to make ends meet at home, then you need to quit trading. This is particularly true if you are losing trade after trade. Folks, there is no point in investing heard earned time and money into trading, just to lose money.

You might think that trading is a good way to make quick cash, even a way for you to solve your financial problems. However, this is not the case, especially if you are a losing trader hemorrhaging money. If you are inexperienced and don’t have a solid trading strategy that works, then you are likely to just make your financial situation worse than it already is.

If you can barely put food on the table, pay your bills, and keep a roof over your head, then you need to quit trading. There is simply no guarantee in trading that you will make money, and yes, there is a big risk of loss. Therefore, if you are struggling financially, there is no point in risking the little bit of money you do have on this endeavor.

Call it Quits if You Can’t Bear the Pain of Losing

Something else that needs to be said here is that trading simply isn’t meant for everybody. This is not a one size fits all kind of thing. Simply put, some people just are not cut out to be traders, and it has to do with the risk of loss.

When it comes to trading, there are two kinds of people, specifically the losing traders. There are those people that lose trades, suck it up, change the game plan, and keep chugging along. The other type of trader is the one who loses some trades and has a breakdown. Some people just cannot handle losing money.

How do you feel about losing money when trading? Is it something that puts a lot of stress on you and causes an emotional breakdown, or do you have the capacity to just suck it up and move on? If you are the kind of person who cannot stomach losing money, especially large sums, then it might be time for you to throw in the towel and quit trading.

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Quit Trading if You are Mentally Exhausted

Make no mistake about it, trading takes a lot of time, energy, willpower, and mental strength. You have to be strong of mind and strong of will in order to see success in this world. Sure, most people start out trading in a good state of mind. Most people start with abundant confidence, energy, and the will to keep moving forward.

However, if you keep losing trades, you might have gotten to the point where you just don’t have the energy or focus required to be profitable. It takes a lot of concentration, focus, analysis, and patience in order to be a consistently profitable trader.

Therefore, if you just don’t have the energy left to deal with it all, it might be time to quit trading. After all, if you cannot muster the energy needed to execute well thought out trades, then you will just end up losing more money. However, if you have not yet reached the point of mental exhaustion, instead of quitting trading, there are some things you can do to help you get back on track.

  • It’s time to start getting realistic and managing expectations. People, there is not a single kind of trading that you can master in a couple of weeks. It just does not work that way, so don’t be disappointed if the first few months don’t go your way. It can take several years to get good at it, so be realistic with what you expect of yourself.
  • Seeing as newbie traders are bound to make mistakes, seeing as you don’t know what you are doing, you need to start small. This means trading minimal lot sizes and minimum investment amounts. This way, even if you do lose trades, you will only lose a little bit of money, and you have the opportunity to learn from your mistakes.
  • The other tip that we can give you here is that you should always focus on your process of trading, not the results you get from it. In other words, you need to focus on building a solid trading strategy that actually works. Everything that can possibly be controlled should be controlled.

Call it Quits if You are Borrowing Money

People, if you are borrowing money to trade, then it is time to quit trading. If you don’t have your own money to trade with, and you have to borrow capital for trading, you are putting yourself at massive risk. Borrowed money is money that you cannot afford to lose, and you should never trade with money that you cannot afford to lose.

Quit Trading

Time to Quit Trading – Conclusion

The bottom line is that for most people, a combination of the above factors means that it is time to quit trading. However, you can always gather yourself, get a job, save some money for trading, and learn all about how to be profitable in the market. Quitting now doesn’t mean that you have to quit forever, but maybe just take a little break and re-evaluate your plan. If you don’t have much money to trade with, check out our article on how to trade with just $500