Excuses that traders always make —

Innervoice

Innervoice

What are some excuses that traders always seem to make? Successful traders/ people dont make excuses.
Alot of people make excuses for irresponsible
Lifestyles, whether its crime or having babies at a young age. Well, traders make excuses as well.
Can you guys chime in and list some of excuses a lot of traders seem to make?
I will start.
1) the game is rigged. The rich and powerful control the markets.
 
Innervoice said:
What are some excuses that traders always seem to make? Successful traders/ people dont make excuses.
Alot of people make excuses for irresponsible
Lifestyles, whether its crime or having babies at a young age. Well, traders make excuses as well.
Can you guys chime in and list some of excuses a lot of traders seem to make?
I will start.
1) the game is rigged. The rich and powerful control the markets.
More...

If you want to talk about trading in the Trading section of the forum...

Please leave the political sideswipes (e.g. crime, young people having babies) at the door because there's nobody here at the forum running for election except Kilroy instead of you trying to bring the political bullshit from the politics section into the trading threads.

wrbtrader
 
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I was around professional traders in excess of 25 years on the AMEX. Then in sales, I deal with both Professional Traders and Retail Traders. They all make excuses for why they lost money, should have made more, etc. This is not just a retail thing. It is a human thing. Trading involves fear and greed. Add that to egos, and a little chaos, and we would all like to think we could have done better if not for ..............

Innervoice said:
What are some excuses that traders always seem to make? Successful traders/ people dont make excuses.
Alot of people make excuses for irresponsible
Lifestyles, whether its crime or having babies at a young age. Well, traders make excuses as well.
Can you guys chime in and list some of excuses a lot of traders seem to make?
I will start.
1) the game is rigged. The rich and powerful control the markets.
More...
 
Innervoice said:
What are some excuses that traders always seem to make? Successful traders/ people dont make excuses.
Alot of people make excuses for irresponsible
Lifestyles, whether its crime or having babies at a young age. Well, traders make excuses as well.
Can you guys chime in and list some of excuses a lot of traders seem to make?
I will start.
1) the game is rigged. The rich and powerful control the markets.
More...
Hello Innervoice,

"I have to get better at cutting my losses"

"The market chopped me up and I lost all my money today"

"I need to work on my risk management"

"They stopped me out"

"I hate trading ranges"

"The market just stopped swinging, too choppy"

"I spent alot of money on trading courses, that guy who taught me rip me off"

"It worked in market replay when I back tested it"

"Well I watched him make money for about few days or week, not sure why I am losing now"

"I just need to study some more and get it right"

"I gotta let me winners run"

"This market does not want me to win, it is rigged"

"I am not reading the price action correctly"

"I need to just slow down, and read the market better"

"The 1 minute chart took all my money"

"I have to work on my psychology, going read mental trading books"

"Well my friend bought his trading course, and it worked for him"

"This market is rigged"

"I need to work on money management"

"I hate trading ranges"

"atleast I took a risk"
 
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Innervoice said:
What are some excuses that traders always seem to make? Successful traders/ people dont make excuses.
A lot of people make excuses for irresponsible
Lifestyles, whether its crime or having babies at a young age. Well, traders make excuses as well.
Can you guys chime in and list some of excuses a lot of traders seem to make?
I will start.
1) the game is rigged. The rich and powerful control the markets.
More...
%%
Blackstone[Bear\spit\Bs or BX\ thinks it has a pretty bear good excuse\ESG\LOL:D:D
Warren Buffet calls BX policy of ESG\asinine[ stupid] LOL
DEC\ WSJ article on Blackstone blames it on investors dont seem to understand\LOL\ looks like they understand ESG + BX\ Bs , just dont like it.....................................................
 
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SimpleMeLike said:
Hello Innervoice,

..."They stopped me out"...
More...

This excuse I have difficulty with it sometimes still today. I actually used the phrase "These punks stopped me out" as if I know exactly who they are (I don't).

I think I give them the derogatory name "punks" as if they have an identity of doing something wrong...something wrong to me as if I was targeted. :D

It's my excuse when in reality, someone on the other side of my trade does not know who I am. In fact, it's a very good chance "those punks" is just an algorithm" from an institutional trading firm causing havoc in the market for their own benefit...

Not someone I can knock on the door and punch the person in the face for stopping me out for a loss or turning a big profit into a tiny profit as if I was "entitled" to a profit.

wrbtrader
 
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wrbtrader said:
This excuse I have difficulty with it sometimes still today. I actually used the phrase "These punks stopped me out" as if I know exactly who they are (I don't).

I think I give them the derogatory name "punks" as if they have an identity of doing something wrong...something wrong to me as if I was targeted. :D

It's my excuse when in reality, someone on the other side of my trade does not know who I am. In fact, it's a very good chance "those punks" is just an algorithm" from an institutional trading firm causing havoc in the market for their own benefit...

Not someone I can knock on the door and punch the person in the face for stopping me out for a loss or turning a big profit into a tiny profit as if I was "entitled" to a profit.

wrbtrader
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I can't tell you enough how many times I've been stopped out only to see the price reverse. I won't say it's a conspiracy theory but it comes pretty close to one.

There's an old saying on Wall Street that you need an army of orders to move the market, but only one tick is enough to gun the stops. Moreover, unless your order is hidden, market makers and HFTs can literally see your resting orders and they will make sure to gun you down before reversing course. That's all part of the "game".
 
schizo said:
I can't tell you enough how many times I've been stopped out only to see the price reverse. I won't say it's a conspiracy theory but it comes pretty close to one.

There's an old saying on Wall Street that you need an army of orders to move the market, but only one tick is enough to gun the stops. Moreover, unless your order is hidden, market makers and HFTs can literally see your resting orders and they will make sure to gun you down before reversing course. That's all part of the "game".
More...

You know it is just an illusion when you see it happen over and over in SIM.
 
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