If you love trading, you will lose money

Quote from 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.
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My motivation is ordinary. It is not love of this game and it is certainly not love of money. While I enjoy power and money, the key for me is, and will always be, my desire for success, measuring success and repeating success. Your rising and rising money score therefore measures your success in this business.
:)
 
I can honestly say if I couldn't trade I don't know what else I would/could do. I absolutely love to trade! Knowing that without a doubt you are competing against some of the smartest minds in the world is really something to think about.

I picture trading not so much as a video game but a major chess match between tons of players.....some are extremely sharp minded while others are complete morons. Everyone of them has an opinion and everytime you place a trade somebody took the exact opposite position of you, which means they think exactly the opposite that you think.

You have to continuously be trying to figure out what the sharp minded people are doing but at the same time figure out what the morons are doing. Its all about capitalizing on peoples emotions.

YT
 
Quote from NY0BScalper:

Just because real money is involved makes it no less of a video game. At least,it's a video game if you're scalping the orders where your edge is just being the first mofo to hit the button to lift the lined up offers that are sitting in the book yet unable to drive the price down in front of the large arca reserve bid with a small display size.
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Okay, that must be why you are profitable and I am not. Because I have no idea WTF you just said. LOL :D
 
Quote from youngtrader:

I can honestly say if I couldn't trade I don't know what else I would/could do. I absolutely love to trade! Knowing that without a doubt you are competing against some of the smartest minds in the world is really something to think about.

I picture trading not so much as a video game but a major chess match between tons of players.....some are extremely sharp minded while others are complete morons. Everyone of them has an opinion and everytime you place a trade somebody took the exact opposite position of you, which means they think exactly the opposite that you think.

You have to continuously be trying to figure out what the sharp minded people are doing but at the same time figure out what the morons are doing. Its all about capitalizing on peoples emotions.

YT
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Fully agree... I think that a defining characteristic between traders lies between those who do it for the money and those who do it because they actually enjoy doing it/ see it as a big challenge.

Having this view IMO you are LESS likely to make emotional decisions based on greed or fear and more like based on probabilities.
 
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