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Hi,
My biggest challenge is owning a trading system that I have enough confidence in that leaves me without intolerable mental discomfort. I was brought up to be very risk averse (i.e. no risk) and while I have adjusted to live a “risk managed” life at home and in my business I am still to take the final step and learn how to apply it to trading financial instruments.
I am comfortable with the idea of losses for it is no different to investing in say a marketing initiative for my business that doesn’t deliver the return expected.
However because I have never had a trading system that I am 100% confident in over the medium and long term, I am afraid of the spectre of losing consistently. Consequently my many dips into the market have always resulted in retreat.
I left a career as a futures and options broker in London in 2000 (I now own my own small community insurance broker) and ever since I have harboured a smouldering desire to prove to myself that I can indeed make a living from trading.
I plan to spend this year learning and developing a trading system so that a share of the profits of the insurance business can be invested into a trend following trading programme, rather than put it into a savings account that earns nothing!
Tom J.
A good place to start is here.
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