Dr. Deco's Cure for Overtrading

[Ticketwatcher]

Quote from ivanbaj:

There is business definition of overtrading that talks about having to many transactions which leads to high transaction costs and thus to an ultimate failure if the business is unable to finance that cost.

Reducing the broker fees, slippage and spread (improving spread to range as well) will help. The rest of the overhead of trading should be fixed and not be affected by the number of transactions.

Excuse me, I am an admitted idiot when it comes to the protocols of trading.

I have NEVER read a book on trading, although I have made a living trading for more than ten years.

I prefer to spend my reading time reading and rereading the universal truthes as asserted by the likes of Shakespeare, Sophocles and F. Scott Fitzgerald, to name but a few.

I trade on my wits and as this is a PSYCHOLOGY thread, and I find it the most appropritate place on this forum to offer up my remarks, as unsophisticated as they may be when compared to traders who have read books on trading and who familiar with real trading terms.

 

[ivanbaj]

Quote from Ticketwatcher:

You are speaking to one who was a sports gambler before I ever traded.

Although my response may have been a bit on the smart ass side, I thought appropriate to the tone of your question, the truth is there is NO such thing as overtrading if the market is going for you.

But if the market be going against you, then you need to stop, take a breath, and REFLECT.

To call the reason for the PAUSE overtrading is as good as term as any to describe the fact, there are times one needs to stop digging the hole that he has put himself in.


Excuse me, I am an admitted idiot when it comes to the protocols of trading.

I have NEVER read a book on trading, although I have made a living trading for more than ten years.

I prefer to spend my reading time reading and rereading the universal truthes as asserted by the likes of Shakespeare, Sophocles and F. Scott Fitzgerald, to name but a few.

I trade on my wits and as this is a PSYCHOLOGY thread, and I find it the most appropritate place on this forum to offer up my remarks, as unsophisticated as they may be when compared to traders who have read books on trading and who familiar with real trading terms.

I am a newbie using ET to stimulate my brain by arguing with myself. I do not recognize some of the characters I have created in my ET dream but I never meant to offend anyone. If you are a real being and I have offended you, I apologise.

 

[Ticketwatcher]

Quote from ivanbaj:

I am a newbie using ET to stimulate my brain by arguing with myself. I do not recognize some of the characters I have created in my ET dream but I never meant to offend anyone. If you are real being and I have offended you, I apologise.

You have NOT offended me.

I appreciate your CIVILITY.

Civility is such a rare commodity in this millenium, even rarer in cyberspace, and almost NEVER expressed on this forum.

 

[Redneck]

Quote from Arthur Deco:

Non-Deco-fans, read no further, it will only piss you off.

The most common complaint I hear in my individual and group trading therapy sessions is: "Dr. Deco, can you cure me of my awful self-destructive urge to overtrade?" In truth I share their pain, for it is my worst fault as well, especially on a narrow range day like today. I KNOW I shouldn't trade, but I get bored and can't help myself. (If the quality of posting on ET were worth a shit any more, I could come here to avoid trading.) So I asked our resident algorithmicist Joe Doaks to devise a chart-based solution which rigidly imposes the discipline that the trader himself lacks. A screen shot is attached. We will be making this non-trading system available to the general public soon for a monthly commission of a mere five percent of what you didn't lose.

Dr. Deco

Please enlighten me Sir…

How can I go about developing a mind so clear and unencumbered – while trading – as the picture you posted Sir?

Regards

RN

 

[Arthur Deco]

RN, it is all a matter of being able to cut through the haze of distraction and prioritize. Novelty is the worst part of it, as the market coughs up a different hairball every day. Take this simple test for me. Were someone to offer you your choice of the following at no charge, which would you take?:

a) a case of incomprehensibly-named but hideously expensive Japanese beer

b) a month's subscription to a trade service that makes outrageous profit claims

c) fifteen minutes in the back of your pickup with a strange piece of ass.

If you are what you claim to be, a true redneck, your heritage leaves you no choice.

 

[Redneck]

Quote from Arthur Deco:

RN, it is all a matter of being able to cut through the haze of distraction and prioritize. Novelty is the worst part of it, as the market coughs up a different hairball every day. Take this simple test for me. Were someone to offer you your choice of the following at no charge, which would you take?:

a) a case of incomprehensibly-named but hideously expensive Japanese beer

b) a month's subscription to a trade service that makes outrageous profit claims

c) fifteen minutes in the back of your pickup with a strange piece of ass.

If you are what you claim to be, a true redneck, your heritage leaves you no choice.

Sorry I would have to pass on all accounts

C is desirable - But my family (at this stage of life) is precious

btw - How did you know I have a pickup

eta - and I like Coors Light Beer


RN

 

[Ticketwatcher]

Quote from Arthur Deco:

RN, it is all a matter of being able to cut through the haze of distraction and prioritize. Novelty is the worst part of it, as the market coughs up a different hairball every day. Take this simple test for me. Were someone to offer you your choice of the following at no charge, which would you take?:

a) a case of incomprehensibly-named but hideously expensive Japanese beer

b) a month's subscription to a trade service that makes outrageous profit claims

c) fifteen minutes in the back of your pickup with a strange piece of ass.

If you are what you claim to be, a true redneck, your heritage leaves you no choice.

Arthur, I must apologize for at some point seeming to hijack your thread.

I have a question for you.

You mentioned the group's penchant for self-medication, how do you and the group look on those who drink their wine from a box?

 

[Redneck]

Quote from Ticketwatcher:

You mentioned the group's penchant for self-medication, how do you and the group look on those who drink their wine from a box?

You mean to tell me there is another kind????

 

[Ticketwatcher]

Quote from Redneck trader:

You mean to tell me there is another kind????

Yes there is, wine in a box is a new discovery for me.

I LOVE the technology.

Five less battles with a corkscrew is almost Nirvana.

I gave wine in a box a try after listening to Kathy Griffin on Bravo joking about how her mother drank wine from a box.

I AIN'T looked back since.

 

[Redneck]

Quote from Ticketwatcher:

Yes there is, wine in a box is a new discovery for me.

I LOVE the technology.

Five less battles with a corkscrew is almost Nirvana.

I gave wine in a box a try after listening to Kathy Griffin on Bravo joking about how her mother drank wine from a box.

I AIN'T looked back since.

Sorry - I meant other than in a box (you know Boone's Farm and the like)