Cityboy should be careful making demands of a man who owns a pig farm. They go through bone like butter
London boys will get the reference.
Is Trading Itself a Bad Trade? I Analyzed the Industry- Prove Me Wrong
- Thread starter cityboy12
- Start date
Cityboy should be careful making demands of a man who owns a pig farm. They go through bone like butter
London boys will get the reference.%%
They[elephants, etc.....] may not not know me; but I track them sometimes. Its like IBD {Investor's Business Daily }founder noted ''when an elephant gets in a bath tub- we know that ''LOL.
I remember when I was a kid I did a study on an elephant @ zoo; he or she was eating peanuts from people's hand, with his trunk. I realized his trunk was trading in a trading range. My banker dad paid for a bag of peanuts; such fun watching that big beast enjoying peanuts .LOL-True
You're definitely a financial advisor, having been one, I can tell you what your problem is. You're talking about products and fees and behavior of salespeople and behavior of clients/potential clients that know virtually nothing. There was nothing in your post about trading.
To answer your question "is trading itself a bad trade?":
The answer is of course, "it depends". You can YOLO your whole net worth on weekly options or you can have a defined, systematized, positive EV strategy. These two are both "trading", though they are apples and oranges. It depends on the trade.
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You are right, but in my opinion, you are very dramatizing the situation. There is another song and I want to stream it here.
In every life we have some trouble When you worry you make it double Don't worry, be happy.
In every life we have some trouble When you worry you make it double Don't worry, be happy.
I can say there is a lot of truth in the initial thesis of Cityboy. I didn't read the whole thread but from the first few pages, I see how many believers in trading success are here and not only here but in general in the world, but the point is not does the trading can provide profit but more like is it sustainable in the big universal scheme of life. How many successful traders we know that became multi-millionaires by trading only their own money and not been hedge fund managers or prop-shop owners or brokers. I know only 2-3 examples in the whole world and they are very modest millionaires. On the other hand, I know hundreds of brokers who are multimillionaires. It all depends on which side of the trade you are - a seller or a buyer of dreams!
Don't get me wrong, I was and still am kind of believer you can make some good percentage return if you are a highly skilled trader, but only way this can bring you money home is when you have really big initial capital and you trade very conservatively, otherwise chances of blowing everything is close to 100% in the long run.
If your goal in life is to prove you can be great trader like some people try proving they can be great athletes, great mountain climbers and you are not interested in the monetary outcome for you and your family than do it! If you are not interested in getting rich, but just to prove you can make money from trading than go for it with all your heart and mind! On the other hand if you want to make the money in the bank than there are better options for you, even in the financial industry like selling your knowledge and information, becoming a great salesperson for broker, bank or hedge fund, even manage other people's money (legally) all these options are with unlimited upside and almost zero downsides, compared to taking positions or especially highly leveraged positions in the market.
We have to admit there is a random element in the price fluctuations and this random element is much much greater than we all want to say. We all tend to search for patterns, waves, fundamental drivers, but in reality, nobody can predict with certainty or even with 80% chance what will happen next minute, hour or year.
We saw many examples but let me give you one more, check the Black Swan book of Nasim Taleb or his next books, all he is telling is exactly the same. People who become rich are those who take the opportunities with the biggest upside potential, while at the same time the smallest downside. There are few exceptions of course when people succeed with highly risky endeavors but you can't repeat this over and over again too much. If you are solo climber and you didn't stop on time than you will die sooner or later, same with hedge funds and proprietary traders, if they don't have another source of income than fail is inevitable, much better to bet on a long term trend and invest in dividend producing stocks for example than betting on the price of oil in half a year.
Don't get me wrong, I was and still am kind of believer you can make some good percentage return if you are a highly skilled trader, but only way this can bring you money home is when you have really big initial capital and you trade very conservatively, otherwise chances of blowing everything is close to 100% in the long run.
If your goal in life is to prove you can be great trader like some people try proving they can be great athletes, great mountain climbers and you are not interested in the monetary outcome for you and your family than do it! If you are not interested in getting rich, but just to prove you can make money from trading than go for it with all your heart and mind! On the other hand if you want to make the money in the bank than there are better options for you, even in the financial industry like selling your knowledge and information, becoming a great salesperson for broker, bank or hedge fund, even manage other people's money (legally) all these options are with unlimited upside and almost zero downsides, compared to taking positions or especially highly leveraged positions in the market.
We have to admit there is a random element in the price fluctuations and this random element is much much greater than we all want to say. We all tend to search for patterns, waves, fundamental drivers, but in reality, nobody can predict with certainty or even with 80% chance what will happen next minute, hour or year.
We saw many examples but let me give you one more, check the Black Swan book of Nasim Taleb or his next books, all he is telling is exactly the same. People who become rich are those who take the opportunities with the biggest upside potential, while at the same time the smallest downside. There are few exceptions of course when people succeed with highly risky endeavors but you can't repeat this over and over again too much. If you are solo climber and you didn't stop on time than you will die sooner or later, same with hedge funds and proprietary traders, if they don't have another source of income than fail is inevitable, much better to bet on a long term trend and invest in dividend producing stocks for example than betting on the price of oil in half a year.
I carefully read your entire post. I really liked him, especially what I quote.
Guys, listen up okay. 1. this persons post was valid and telling him to f off was childish. 2. long term investing makes money like dozu said. you also can have a life. 3. if u want trading to be your life and you are good at TRADING then do it. 4. knowing mkts and charts and making calls properly or demo trading is childs play. putt putt golf compared to the pros. 5. i know very successful stock traders futures traders option traders spread traders fx traders like 3 million in a week when they see it and guess what. they have told me what they do! its no secret. they do the exact same thing you do except they are way better at it. no tricks, no secrets except. they know when to hold and when to fold they also use position sizing to get return not the market. they know when to go small and when to go all in just like a real poker pro. its no different. they have confidence beyond in their own ability to pull money from mkt. spreaders will tell u they cannot trade outright and futures traders say why would u buy an option when you can buy amd hold a future! i mean it is more about you and your own personal execution than anything. buy low sell high. add to winners. thats it. oh and levels..pivot points and trendlines support resistance. they go big like huge when they know and when they know they know and they dont get spooked out and they let trades work long enough to make profit and they always are concerned and worried and taking risk. day trading involves risk. this means the 1. you lose 4 trades to make 1 big one or take 1 trade and let the mkt go against you and buy more as it goes up. they add to winners like bricks of a pyramid sometimes on every new profitable tick! they exit all at once sometimes or a piece at a time. thw more i spoke or speak with them the more i realize i know just as much and at times even more than they do about the market. but they know more about themselves. they figured themselves out and stick with what they like.spreads scalping swing trading a big one once they have money.daily charts. imagine the mkt is the olympics. you need to figure out which event or trade style works for you best and repeat it over and over. they make mistakes too. one a huge bear was up 400k in dec. shorting emini futures. he gave it all back in january. all of it. not kidding. he wanted 4 million. lots of them trade smaller than u think but eniugh to make multiple buys and sells and pyramid rapidly. they share what they do lots of times because..just because i know hebuys on every ma break..in a bull mkt doesnt mean i can do it. good luck. oh and if you do enough googling and research you can find hard evidence of real trading results put together by the government and by universities. you just have to look. I will end it with this. about 20% are profitable from trading futures. but in that 20% only the top 1% actually make huge money...most make a couple thousand bucks or 5 or 10k a year. butt top 1% of traders make millions. so unlike the belief that if you are part of the winning crowd u will be rich. not so. you have to be part of the 1% of the winners to be filthy rich from the mkt. floor n pit traders had it easy compared to the screens. they had edge. they were the hft of yesteryear. earning the spread thousands of times over and occassionally got lucky with a few holds when they saw huge money buying. but they were there to see it in real time. way more anonymous now..good luck.
Jus curious, who are your pro boys?
You must be a big shot to have pro boys working for you.
