If you love trading, you will lose money

Quote from silvermotion:

you condescending clown, keep the ''I am making money and not you so listen to me'' speeches for someone else.

Live or sim, it is a video game. You need to use your skills to get a higher score than the other players. Your characters ''levels up'' as you get experience, and you receive more powerfuls weapons (your setups) and armor (sizing, money management, more money in the account allowing more complex hedging strategies, etc). And when you fail its game over.
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Silver,

Disregard the ignoramus. allenhobbs is totally wrapped up in trading education chat rooms, so I don't see how someone of such a mindset is currently profitable if they are still running around like a chicken with it's head cut off trying to find trading education chat rooms to play in. Therefore, any "guidance" they offer is given from the sidelines, and unreliable at best. The advice these types offer is strictly theory, not from experience. Mere regurgitation of axioms and stories they have heard from others.

I totally see your point and agree with you. I elaborated on a previous post on this thread. All that matters is what works for you. It is a high stakes video game. And a damn fun one at that. Makes me more money than my 360, that's for sure.
 
Quote from silvermotion:

It is sad that so many people on this forum adheres to the ''Fake it until you make it'' method.
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I totally agree with you. It is a total waste. Self-delusion/deception gets you nowhere in life. ALL THAT MATTERS IS WHAT WORKS FOR YOU. Good trading to you bud.
 
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.
 
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.
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Damn what a cool dad, may your son game his way to prosperity!
 
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.
 
Quote from silvermotion:

I love trading its the best online multiplayer computer video game ever.
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That's exactly how I see it.
They said, if it gets boring then you've arrived.
 
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.
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Probably one of the best posts of the week, and when you put it in those terms, the light just seems to come on and the key to not losing money, but rather making it (and a lot of it) becomes pretty clear.

"Overtrading is the same as alcoholism or gluttony or abusing anything that we engage in to a normal degree"

Happy Easter :)
 
Quote from crgarcia:

In a business management seminar they stated that you should not be in a business you hate. So far everything OK.

But you also should be careful if you are in a business you love so much, because you may lose sense on reality; thus engaging in activities, that while entertaining and fullfiling to you, will not be profitable.

I like trading, but I don't love trading.
I like making money relatively easily and confortably. But if I became -let's hope not- consistently unprofitable, I'll hate trading.
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Gotta love those business consultants. Oh, how edgy and insightful.
How about this advice, save your money and time by not sitting in tedious seminars listening to business "experts" with one size fits all prepackaged solutions. Just my opinion but at least I didn't charge for it.
 
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