Do Day Traders Rationally Learn About Their Ability?

A new potential trader needs to look at trading as a job needing an "extremely high skill set."
Nowhere in the job market do people start skilled jobs and professions without a lot of education and training.
"Why do new potential traders think they can just read a book, open an account and make
a living trading?"

It takes more than a few books, or reading trading tips from a trading forum.
You need to go to a trading school that follows through afterwards and continue with online trading rooms doing live real time trades with an instructor explaining what your doing.

Nobody wants to hear or read what I just said above because it expensive, time consuming and intensive, "but" it allows you to emulate success.

brokers publicity and "educators" scammers help a lot
 
You go to Starbucks alot (or end every post saying so) -- why don't you just buy a high-end coffee or espresso machine,
https://www.ebay.com/sch/i.html?_sacat=0&_nkw=espresso+machine&_sop=16
trader_3.jpg
, o_O
trader_4.jpg

I do have a couple sitting in the kitchen, but I work many hours on developing systems for future, Starbucks is like a break for me, to get out with people, socialize. I live on a horse ranch till I am as well as I am going to get and start working out soon. But what is funny, I only usually buy is Pikes Place regular coffee. I do enjoy the ride to where I usually go which is 3rd Starbucks as I pass up two others, we all have our favorite barista's.
 
Starbucks is like a break for me, to get out with people, socialize

I live on a horse ranch

we all have our favorite barista's

Buy Starbucks cups from eBay, or generic coffee paper cups, and write your name on the cup with a Sharpie pen marker...so it will kind of feel like you're drinking coffee in a Starbucks shop.

Buy a computer program that says your name out loud, or buy a parrot that says your name out loud. So you will know your coffee order is ready, o_O
Buy furniture that looks like Starbucks too, and recreate mood lighting.

Have a custom electrical sign made for you...that says...Starrbucks. but instead of that green girl...have it showing your photo face.

All of this is actually completely normal. -- Other people have weirder hobbies and designs and life preferences.

Make your own coffee too wearing a Starbucks uniform. I'm pretty sure you can find one on eBay or online or custom made.
 
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Buy Starbucks cups from eBay, or generic coffee paper cups, and write your name on the cup with a Sharpie pen marker...so it will kind of feel like you're drinking coffee in a Starbucks shop.

Buy a computer program that says your name out loud, or buy a parrot that says your name out loud. So you will know your coffee order is ready, o_O
Buy furniture that looks like Starbucks too, and recreate mood lighting.

Have a custom electrical sign made for you...that says...Starrbucks. but instead of that green girl...have it showing your photo face.

All of this is actually completely normal. -- Other people have weirder hobbies and designs and life preferences.

Make your own coffee too wearing a Starbucks uniform. I'm pretty sure you can find one on eBay or online or custom made.
That probably is normal for you LL :D
 
Buy Starbucks cups from eBay, or generic coffee paper cups, and write your name on the cup with a Sharpie pen marker...so it will kind of feel like you're drinking coffee in a Starbucks shop.

Buy a computer program that says your name out loud, or buy a parrot that says your name out loud. So you will know your coffee order is ready, o_O
Buy furniture that looks like Starbucks too, and recreate mood lighting.

Have a custom electrical sign made for you...that says...Starrbucks. but instead of that green girl...have it showing your photo face.

All of this is actually completely normal. -- Other people have weirder hobbies and designs and life preferences.

Make your own coffee too wearing a Starbucks uniform. I'm pretty sure you can find one on eBay or online or custom made.
Now Larry...i thought you were the starbucks type of dude..skinny tight jeans with torn knees...black rimmed spectacles...pf flyers tennis..etc. Are you not?

I have to say I cannot picture handle123 as a starbucks man....i have never seen any rancher...cowboy type...horse lover people in Starbucks. Although, I have to admit i have only gone there a few times as the coffee to me had a terrible taste. Now Tim Hortons in Canada that is a different story. Great coffee....
 
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I think Lawrence is right about this.

The reason loads of people lose their money with daytrading is substantially the same as the reason that loads of people lose their money by trading forex with high leverage: it isn't the daytrading itself where the problem lies, but many of the people attracted to it.

Being devils advocate for a minute...

For people who ultimately cannot trade, would it be 'smarter' to quickly flame out at high leverage then use their time better elsewhere, than slowly grind down to zero over a number of years? o_O
 
Being devils advocate for a minute...

For people who ultimately cannot trade, would it be 'smarter' to quickly flame out at high leverage then use their time better elsewhere, than slowly grind down to zero over a number of years? o_O


For people who ultimately just "can't trade" (and there certainly are some), perhaps, yes.

I think the problem with that logic is that some people might find that they are actually able to learn to, if they go about it more slowly.

Different approaches suit different people?

I'm convinced that an awful lot of people greatly overestimate what they can achieve quickly, while actually greatly underestimating what they might achieve more gradually.
 
Buy Starbucks cups from eBay, or generic coffee paper cups, and write your name on the cup with a Sharpie pen marker...so it will kind of feel like you're drinking coffee in a Starbucks shop.

Buy a computer program that says your name out loud, or buy a parrot that says your name out loud. So you will know your coffee order is ready, o_O
Buy furniture that looks like Starbucks too, and recreate mood lighting.

Have a custom electrical sign made for you...that says...Starrbucks. but instead of that green girl...have it showing your photo face.

All of this is actually completely normal. -- Other people have weirder hobbies and designs and life preferences.

Make your own coffee too wearing a Starbucks uniform. I'm pretty sure you can find one on eBay or online or custom made.
How would one replicate the waitress's and the many females who come in for a thirst quench after working out at the gym?
Cardboard cutouts I s'pose or blowup dolls.
 
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