If you love trading, you will lose money

[JSSPMK]

Quote from crgarcia:

In a video-game, you can always restart.
Not so in trading (at least not with the same money you started).

In a videogame, it really doesn't matter if you win or lose (your family doesn't depend on it). In trading profits are all.

He has to think in a different way ImO. We (people) are all part of a video game created by our governments to be marketed to big money. It's the Big Money that plays the game and pays governments a licensing fee. As money doesn't have a proprietor Big Money will play this game all the time, they can win, lose & re-start all they like as long as they keep on paying the licensing fee. We (people) are part of this game, just because we are part of this game it doesn't qualify us as players until the time we manage to move up the ranks and eventually making a player lose the game & by doing so performing a transition from a participant to a player

BSC recent player that lost

 

[cashrules]

WOW

 

[tommymoose]

e-mini Nintendo Rocks!

Seriously, I avoid looking at the PnL on every trade. At this point in my life I don't touch the money in the trading account, so if I make money or lose money, my lifestyle doesn't change. This is a way of segregating trading and real life. I can't think of a better analogy than it being a video-game. When I don't see winning and losing as stuff I can or can't buy, I'm able to trade with a much clearer head.

 

[auspiv]

Quote from cashrules:

The cool thing is as his account increses (without him knowing it) I have been incresing the number of contracts. He started with one contract and now he his up to 10 contracts. At this rate, before the year is out, he will be making more in the 1 month he is out of school than the teachers make in the same school year.

Wathing him has helped teach me a leason about the mind of trading. And how to approach the "screen". Overall it has helped everybody, and it is teaching him something that will pay off for him for a long long time.

same basis as the book ender's game.. teach a kid something on a sim, and then let loose on the real thing, and the results will be stunning

 

[cashrules]

I'm going to give him 6 more months and then fund his account. So far hs\is results are awesome

 

[Thunderdog]

Quote from cashrules:

some interesting points about the "video game of trading"

I think looking at trading as a "video" game is not that much of a bad idea.

I have been trading a little over 10 years, every year booking profits (some better than others). So as an experiment my nine year old son is in "year round schools" he is in school for 2 1/2 months, and off for 1 month. While he is off he trades the es- eminis, and at night he trades the forex. He is trading on a simulator, but that being said I haven't told him anything other than it is a "real cool video game like dad looks at".

I set him up with a few reversal chart patterns and how to enter orders, and that is all the info he has. No outside "noise" to try and out think the market.

The real net thing about this trail that has lasted a little over six months he is booking profits more often than losses.

Damn, that's inspired.

 

[TSGannGalt]

I love my "Wii"-mini SP markets.

Gotta love trading with them nunchuks.

 

[nlimit1]

Junkies always lose

 

[trackstar]

Quote from Reaver:

I see what you're getting at.

People act like you can't enjoy it and have fun without getting your ass kicked. I enjoy winning, therefore trading is enjoyable.

If I didn't love and enjoy trading, I wouldn't do it. I love having a few drinks too, but that doesn't mean it's going to keep me from being responsible and doing what needs to be done. I am not going to fall into the abyss of alcoholism because I enjoy having a drink. The concepts are not mutually exclusive. Again, it boils down to discipline. I love to eat a big ass piece of choclate cake sometimes too, but that doesn't mean I can't control my urges..I am not doomed to being a fatass just because I enjoy eating cake.

All boils down to discipline.

It really is one of the best online multiplayer games ever- playing for real money makes it worthwhile.

We have a winner right here, these are my views to the t.

 

[MrGecko]

the computer game analogy is a very good one; it has paralells with competitive sport, and few could disagree that trading isn't at least a little like competitive sport.

w.r.t "loving to trade"... it takes alot of blood, sweat and tears to be a prof. trader - semantics aside, there sure as hell needs to be something inside you that makes you feel its worth it. If you ask a professional sportsman what drove him to become so successful at his sport, invariably he'll say "the love of the game"or something similar - not the money or the fame. Trading is similar, drive for the money and the fame (or lifestyle or whatever) isn't what you need to make it. you need to "love the game" (computer or not) to reach the top. And still that alone isn't enough.