Ahh yes the panglossian sentiments of daytraders of the dot com bubble.
Yeah expenses are irrelevant until: ..:eek:
Day trading is losers game
- Thread starter oilfxpro
- Start date
Yeah expenses are irrelevant until: ..:eek:
Quote from cornixforex:
I started trading in 2005, never witnessed dotcom bubble, but witnessed outstanding volatility of late 2008, it was great.
Whatever,
If you don't get my point , someday the market will make it to you.
Perhaps you'll be listening then.
Quote from PHOENIX TRADING:
Whatever,
If you don't get my point , someday the market will make it to you.
Perhaps you'll be listening then.
I really don't get you you are trying to explain. Of course we never stop to learn, but I traded in crappy vola of 2005-7, traded in insane vola of 2008, traded during the flash crash, trade now... thousands of trades.
Not to be arrogant, but what else can happen that I don't know about?
Oh, believe me, when you trade 8-15 hours every day for 7+ years, such cases happen many, many times (particularly in first years). And yes, these psychological issues are probably the most ugly of all problems a trader ever meets. But being able to deal with them is one of essential parts of the profession, so... to answer your question, yes, of course I cannot guarantee that I always will keep sanity, doubt anyone can be sure he/she would not go insane ever, but the more you practice correct way to trade, the smaller the chance of doing something wrong, consciously or unconsciously, because correct reflexes get imprinted in one's mind.
LOL, good one!
Indeed, what Ofxpro stated is rather a typical rookie trouble, which has to be overcome in order to become consistent, because it's extremely important to never hysterically react to losing streaks. They just happen, yes, that's an essential part of an odds game, but... I like to think of it as a great thing, because that's exactly what stops so many from becoming profitable in this game and makes it so profitable for those who are able to deal with this fact... Much like pro poker play vs. amateur play.
How do you think, should pro chess player or athlete worry about if they suddenly go insane after a couple of lost games and wreck their career by impulsive playing?
Or maybe should we worry all the time when driving that we can suddenly go amok and hit the big truck driving by the other side of the road?
From one side, yes, all these cases are possible, but from the other...