Gambler vs Trader
- Thread starter emg
- Start date
Couldn't agree with you more on the starting capital of 500k.
The rest is hard to define and write in stones. If it were all about phd and math most mathematician would be rich and that is not the case.
In my modest opinion there are many ways to make money, but they are all very hard to find. If something is sold to you...a book or a system you can rest assured that it is just what it is.
Looking at charts is pointless since the rest of the world is looking at the same thing you are.
The moment one finds a way to look at the market in a different and unique way and exploit a market inneficency one has better chances of making money.
Unfortunately ...or fortunately there are many many people who lack the capital and the resources to make it, but for whatever reason ...dreaming/gambling etc are trading.
In my opinion daytraders are the biggest gamblers.
The rest is hard to define and write in stones. If it were all about phd and math most mathematician would be rich and that is not the case.
In my modest opinion there are many ways to make money, but they are all very hard to find. If something is sold to you...a book or a system you can rest assured that it is just what it is.
Looking at charts is pointless since the rest of the world is looking at the same thing you are.
The moment one finds a way to look at the market in a different and unique way and exploit a market inneficency one has better chances of making money.
Unfortunately ...or fortunately there are many many people who lack the capital and the resources to make it, but for whatever reason ...dreaming/gambling etc are trading.
In my opinion daytraders are the biggest gamblers.
That's actually my blog
http://theclosetgambler.com
I'm definitely not denying the gambling aspect of it
Looking at charts is not pointless because, although everyone has access to the same information, it's what you DO with that information that counts. We all have access to paint, canvass. brushes etc but not all of us can be world class painters. 
In terms of your comment on mkt inefficiency.....no one says you need to find an inefficiency in order to make money consistently. Learn the game from the ground up and figure out what how to read the ebb and flow and you'll be in a good place to trade well. Inefficiencies can be arbed out or die, the fundamental movement of the mkts will never change as long as human being are trading or behind the algos that trade.
In terms of your comment on mkt inefficiency.....no one says you need to find an inefficiency in order to make money consistently. Learn the game from the ground up and figure out what how to read the ebb and flow and you'll be in a good place to trade well. Inefficiencies can be arbed out or die, the fundamental movement of the mkts will never change as long as human being are trading or behind the algos that trade.
Chances are that you're used to a higher level of income/life style and that higher income provided you the chance to pay off your home/car/debt. 60k/year (you'll still have to pay taxes on that money) and more time on your hands is probably not going to cut it. Now if you make 60k a year on 50k in your trading account and you double your money every year, you're an ET specialist (there's many here on this board) and would get paid quite a bit of money working for a real fund.
http://theclosetgambler.com
Quote from Fireplace:
If you have the same info the rest of the world has you can still do 3 things. You go long , short or stay neutral. So what you DO with it is not enough to make money.
Looking at charts is pointless.
What one needs is a totally different way to look at the market and manage risk.
Looking at charts is not pointless because, although everyone has access to the same information, it's what you DO with that information that counts. We all have access to paint, canvass. brushes etc but not all of us can be world class painters.
In terms of your comment on mkt inefficiency.....no one says you need to find an inefficiency in order to make money consistently. Learn the game from the ground up and figure out what how to read the ebb and flow and you'll be in a good place to trade well. Inefficiencies can be arbed out or die, the fundamental movement of the mkts will never change as long as human being are trading or behind the algos that trade.