beat the market journal

after this morning arguements with CL_Rex's guys about trading. now I become clear. Trading is a gambling activity.

lots of time, I objected to tagging myself as a gambler when someone asked me what I am doing after the layoff, I said I am doing trading. but they reacted to me "I am gambling", including my wife. I feel when people tag me as a gambler, I am a bad person. now it is clear, I must tell myself I am a gambler and I am very proud of this fact.

It is true. trading is a gambling business. why, you can earn as much as you can if you are lucky, your efforts do not count, your smartness does not count, your education certificate/degrees do not count, the only thing here is your mouse click, just a mouse click, you may instantly get 1k even 10k in several minutes or a day. the reward is impropationally to your efforts. or just a mouse click, you may become a homeless if you bet carelessly or too greedily.

now I begin to understand why the champion trader Martin schwartz in his book 'pit bull' called him a gambler.

so in order to trade successfully, I must own the traits of a professional gambler: fearless, but not blindly. I must enter trade even I do not know whether it is a winner or loser, I must act before the fact, I could not afford to seek assurance or confirmation. I must act cautiously, and not bet in ruin. I keep a good balance between agressive bet and defensive bets to keep my account to grow.

glad I discovered this fact. now I need tell my wife or others, I am proud of being a gambler.
I will gamble professionally. loud again, I am a gambler!
 
Quote from trader198:

after this morning arguements with CL_Rex's guys about trading. now I become clear. Trading is a gambling activity.

lots of time, I objected to tagging myself as a gambler when someone asked me what I am doing after the layoff, I said I am doing trading. but they reacted to me "I am gambling", including my wife. I feel when people tag me as a gambler, I am a bad person. now it is clear, I must tell myself I am a gambler and I am very proud of this fact.

It is true. trading is a gambling business. why, you can earn as much as you can if you are lucky, your efforts do not count, your smartness does not count, your education certificate/degrees do not count, the only thing here is your mouse click, just a mouse click, you may instantly get 1k even 10k in several minutes or a day. the reward is impropationally to your efforts. or just a mouse click, you may become a homeless if you bet carelessly or too greedily.

now I begin to understand why the champion trader Martin schwartz in his book 'pit bull' called him a gambler.

so in order to trade successfully, I must own the traits of a professional gambler: fearless, but not blindly. I must enter trade even I do not know whether it is a winner or loser, I must act before the fact, I could not afford to seek assurance or confirmation. I must act cautiously, and not bet in ruin. I keep a good balance between agressive bet and defensive bets to keep my account to grow.

glad I discovered this fact. now I need tell my wife or others, I am proud of being a gambler.
I will gamble professionally. loud again, I am a gambler!
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At first I thought you had a significant epiphany but as I read on I realized you had nothing of the sort that might save your assets from wishful thinking.

So now that you are a "GAMBLER" please be aware that professional gamblers only play the games where "true skill" determines the outcome.

By the way "trading" has not been demonstrated to be one of those games unless you are using OPM.
 
account advanced to $6160.95
change: $124.56


the game is hard

I did several bottom picking in the morning, and already gained 0.37 point, should forget about and rest a while, prepared for next day.

then I felt I caught cold, felt not comfortable, I slept a while, I saw crude jumped to morning opening price around 83.65~83.77 (thought resistance), felt cute, shorted it there, saw two ticks profit, then red, realized I am wrong. cut loss and tried another one, cut loss again. then shorted it at overnight high at 84.38, good short, but I take out too quickly, just wish made my money back is great.
it down to 83.6, then immdiately shoot high again. I will avoid the closing, reward is great, risk is too high.
 

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Seriously dude, you have a wife and a kid that you are responsible for .

You need to get your priorities straight or risk losing everything.

First concentrate on getting a job. You can always think about blowing out a small account learning to trade later.

I certainly hope this account you are trading is just play money.


Unless you have permanent income you don't need to be risking yourlayoff settlement and 401k on trading.


It's a disaster waiting to happen.
 
my wife works. currently the account is none of 401k money (put back) and layoff severance pay, all earned from the market this year.
when my account grows to 20k around, I think I do not need any backup, I will start to draw money regularly.


Quote from Index piker:

Seriously dude, you have a wife and a kid that you are responsible for .

You need to get your priorities straight or risk losing everything.

First concentrate on getting a job. You can always think about blowing out a small account learning to trade later.

I certainly hope this account you are trading is just play money.


Unless you have permanent income you don't need to be risking yourlayoff settlement and 401k on trading.


It's a disaster waiting to happen.
More...
 
Quote from trader198:

1)my wife works. currently the account is none of 401k money (put back) and layoff severance pay, all earned from the market this year.
2)when my account grows to 20k around, I think I do not need any backup, I will start to draw money regularly.
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1)So how long do you suppose your wife is going to be willing to be the man of the house while supporting your indolent butt wasting time and money playing internet games?

2) uh-oh, Unless you have mastered your risk control that sounds like a disaster.

3) If you insist that you can predict the future why don't you papertrade and prove it before you risk too much?

I'm not asking you these questions out of malice, I just hate to see people do bone headed things who cannot afford it.
 
as I said, trading is a gambling activity. so you can not get the traits from paper trading. paper trading is for entaintment. I heard people always made money in paper account, me. so far it is almost 300k. just occussionally did some trade, try to get rid of bordem in trading.
the results are amesome. but when most people go back to their live account, most results are terrible. do you know why? they did too much self-protection or did not follow the market or they are not the gamblerin their live account, they try to be logic and reasonable. that is the problem.




Quote from Index piker:

1)So how long do you suppose your wife is going to be willing to be the man of the house while supporting your indolent butt wasting time and money playing internet games?

2) uh-oh, Unless you have mastered your risk control that sounds like a disaster.

3) If you insist that you can predict the future why don't you papertrade and prove it before you risk too much?

I'm not asking you these questions out of malice, I just hate to see people do bone headed things who cannot afford it.
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Quote from trader198:

as I said, trading is a gambling activity. so you can not get the traits from paper trading. paper trading is for entaintment. I heard people always made money in paper account, me. so far it is almost 300k. just occussionally did some trade, try to get rid of bordem in trading.
the results are amesome. but when most people go back to their live account, most results are terrible. do you know why? they did too much self-protection or did not follow the market or they are not the gamblerin their live account, they try to be logic and reasonable. that is the problem.
More...
You paper traded a 29.6% gain over what time period?
 
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