I'm not saying that traders who get all crazy emotional aren't gamblers, some are. But traders who take on far too much risk aren't always really trading with scared money. I have been around guys who can easily afford what they lost but it still was insane the risk they were taking. They weren't trading scared, just trading with poor risk management. The Corporate players you mention weren't trading scared money, they just had no clue on risk management.
How do you guys prepare for you intraday trading ?
- Thread starter cashclay
- Start date
I'm not saying that traders who get all crazy emotional aren't gamblers, some are. But traders who take on far too much risk aren't always really trading with scared money. I have been around guys who can easily afford what they lost but it still was insane the risk they were taking. They weren't trading scared, just trading with poor risk management. The Corporate players you mention weren't trading scared money, they just had no clue on risk management.
First.., allow me to fix your question
Because it an extremely superficial statement about trading..., and the mental fortitude it takes to trade
Turmoil from lack of knowledge - and exactly what is this knowledge of which you reference
Turmoil will come from countless..., and I mean countless sources - when trading
Scared money - what exactly is that - money in inanimate
I'll take it you mean scared trader..., so this trader just wakes one day and stop being scared
Give this trader more more money = and all that will happen is he / she will just end up a bigger loser
No amount of knowledge / methodology will compensate for that
To say.., sort out above and one's emotional issues will somehow mysteriously auto-correct
Shows how naive you are about trading
You're trying to cerebral-ize this shit - so it makes sense in your head
Until you jump in..., get roughed up..., come to realize - what one "thinks" makes sense..., vs. what it actually takes
You have no basis on which to make such bold..., yet erroneous - statements
Mkt would have wiped the floor with your ass today with the below PA
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Comparing traders to gamblers is also BS
A trader's #1 job is to be a risk manager - in all its forms
People trade for a multitude of reasons - gambling is certainly one of them - I would not however classify these people as traders
RN
If there's no risk management or the risk management is not suitable...
Trading then becomes gambling.
If there's no discipline or the discipline is not suitable...
Trading then becomes gambling.
The point I'm making about the above key variables of a trading plan and others not mentioned that's part of a trading plan, without these key variables in place and working within a trading plan, the risk of trading increases dramatically that it then becomes gambling.
There's another form of gambling involves traders that know they cannot fix problematic trading or they don't care or they underestimate these key variables to the point that they continue refunding their trading accounts after multiple blowups while still using an inadequate trading plan...that too is gambling and an addiction.
Some folks are traders. Others are gamblers. Others are gamblers and addicted to trading...very little articles online about traders addicted to trading but I can't imagine it being much different than anyone else addicted to alcohol, drugs, betting, sex, social media, running and many other stuff involving addiction.
Trading then becomes gambling.
If there's no discipline or the discipline is not suitable...
Trading then becomes gambling.
The point I'm making about the above key variables of a trading plan and others not mentioned that's part of a trading plan, without these key variables in place and working within a trading plan, the risk of trading increases dramatically that it then becomes gambling.
There's another form of gambling involves traders that know they cannot fix problematic trading or they don't care or they underestimate these key variables to the point that they continue refunding their trading accounts after multiple blowups while still using an inadequate trading plan...that too is gambling and an addiction.
Some folks are traders. Others are gamblers. Others are gamblers and addicted to trading...very little articles online about traders addicted to trading but I can't imagine it being much different than anyone else addicted to alcohol, drugs, betting, sex, social media, running and many other stuff involving addiction.
And with this - you just embarrassed (pissed on) yourself
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And before you ask;
The last time I asked you a question- straight up..., instead of giving me a straight up answer - you went on a diatribe..., then told me to go reread some of your posts
I'll think about sharing with you - straight up - what is wrong with your above statement
Let you know what I decide - once I decide
RN
I'll keep it simple...no diatribe.
A person should not get involved in trading if they're not properly prepared to trade. If they get involved in trading when they're not properly prepared to trade...they will not be able to properly manage the risks involved in trading.
The above statement and my prior statement are the same...just worded differently for someone to understand. If you don't understand or still in disagreement...not my problem and you'll just need to disagree because my opinion will not change for anyone on this topic.
P.S. I always pee in a toilet or with the wind.
A person should not get involved in trading if they're not properly prepared to trade. If they get involved in trading when they're not properly prepared to trade...they will not be able to properly manage the risks involved in trading.
The above statement and my prior statement are the same...just worded differently for someone to understand. If you don't understand or still in disagreement...not my problem and you'll just need to disagree because my opinion will not change for anyone on this topic.
P.S. I always pee in a toilet or with the wind.
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You wouldn't know.
I do however refuse to reply to your incoherent nonsense. What I said remains true, regardless of your opinion.
You've started a large number of threads asking such questions. I and a few others have tried in vain to tell you that doing this is going to get you nowhere, and that the only road is to devote at least a year or two to the study of TA. Once you have at least a basic knowledge of TA, people here will be happy and able to help you. But first you must help yourself. I posted a chart yesterday in one of your threads that had a number of TA basics. I was hoping that it would open your eyes as to how little you now know. You are going to learn nothing by posting charts and asking 'What's this?', 'What's that?'. Your wasting your time and that of those who answer. You will not get a course on TA here. Instead you might want to ask how others learned TA, what books they read and benefited from etc. and then set out on a course of study for yourself as we once did. But, of course, if you have no serious interest in studying, that's that.
Life is actually a gamble as well, there is gravity and throw a ball up, 99.99999% chance it will fall back to Earth eventually, could be winds, so unless the earth stops spinning, it should always come down. Right? Your heart beating, what are the odds it is going to stop today? Unknown ? So we come to trading, buy at some number what are the chances it will go up or down? Unknown? So we could say that breathing has same gamble as profitable trading. I think 99% of what we do is a gamble, what changes the odds are risk management, exercise, eating right, money management either add or take away from elements of life. All of mankind are gamblers.
ROFLMAO unless you have automation and even some times during automation when in position and computer freezes, mistakes happen. YOU WILL make mistakes no matter how perfect you try to trade. In haste you buy when you suppose to sell, you get older and finger hits Mouse few times and you don't notice you have triple amount, electric goes out in house, Internet went down, exchanged closed early, someone did fat finger of many contracts, computer locked up, cat hit touch screen when you were in restroom, wife or GF upset over whatever and you in middle of trade, someone knocking hard on windows, rock smashes window, there are a ton of things that you never thought of and unless you have quick answers, YOU are a gambler. Has nothing to do with overleveraged and there are always emotions no matter how long you trade. You can back, forward test and trade your method for fifteen years knowing the extremes of drawdown and eventually this will exceed extreme, it gets emotional, but you won't listen, this is something you have to live and lose. Then when you reading a post in few years from now, you will laugh when you read what you wrote or someone else. You can't imagine what it is to jump out of a plane to parachute unless you have done it.Just remember that emotional turmoil typically comes from a lack of knowledge/methodology and overleverage with scared money. Sort these out and I'm sure any emotional issues will auto-correct without any need for Mark Douglas.
You are quit correct - no trader ever does
Incoherent only to the uninitiated / inexperienced - LMAO
What I said remains true, regardless of your opinion.
No worries.., mkt will convince you otherwise
RN
I'll keep it simple...no diatribe.
A person should not get involved in trading if they're not properly prepared to trade. If they get involved in trading when they're not properly prepared to trade...they will not be able to properly manage the risks involved in trading.
The above statement and my prior statement are the same...just worded differently for someone to understand. If you don't understand or still in disagreement...not my problem and you'll just need to disagree because my opinion will not change for anyone on this topic.
P.S. I always pee in a toilet or with the wind.
Still deciding - patience
RN