"I think i have a better feel for the charts now. "
Actually, I think this is much more ominous...
Is trading only a hobby or job for the rich?
- Thread starter Wach80
- Start date
Actually, I think this is much more ominous...
Probably wouldn't hurt for him to read the thread, either.
This is wrong , poor refers to the amount im willing to invest and not to the amount i have made from poker or i have irl , poker is also a hobby for me but im not losing at poker , i actually have never went broke and most of my months if not all are winning months , if i didnt win at poker i wouldnt even consider change it because my ego wouldnt allow it , i NEVER give up something once i start unless im pretty sure i have succeed to some extend. Im not saying im a high stakes crusher but i win on my stakes , actually the reason i want to quit poker and i think i will never go that far is not my skill but my inability to put enough volume and endure it btw you cant prove you are winner at poker if you dont play often , you need to win over a big sample of hands to be considered a winner , also dont make the mistake to understimate poker , poker is also heavy in theory and at high stakes online is almost unbeatable , its not as simple as you make it out to be , i cant compare it yet to trading because i dont understand the depth of trading.
I may be a noob at trading but im not a fool either , i know that i need a plan and i understand the randomness , variance can do crazy things and create wrong beliefs to people , this is also something that happens at poker , i dont take seriously the money i win or lose because well i dont understand whats going on , im also aware that i may have some bad habits , it will take time to fix them , i dont understand why everyone is so anxious about the demo account , i mean its free , you lose absolutely nothing , NO im not the type of a guy who will take seriously my results without some serious study.
Anyway even though i played in my demo account for the lulz , i had a random plan , i dont know if its any good , i checked for currencies who did consistently well in the chart and if i though the currency was heading for an uptrend or had a pullback and would bounce up i would bet into it , i tried to stay away from charts who seemed random without some specific history. I got this idea from someone in this forum but i probably dont execute it correctly , it may be random , im a noob you know. I also check the forexfactory site , i dont understand ANYTHING in the site but i use it as a random supplement to my chart plan , aka if the currency has some good news about it , it will make me more likely to bet. NEVER forget all these things are random and probably wrong.
Btw tell me if this is true , when the volume is too high , does this mean there are a lot of people who buy this currency? I noticed in some pullbacks who seemed good for my plan the volume was crazy , does this mean there are a lot of people who bet in these pullbacks or the high volume means something else? This question is random , NEVER forget im a noob and i dont understand what i say.
Last edited:
Given that for every transaction there must be both a buyer and seller, "high volume" means that a great many transactions are taking place, i.e., a "lot of people" are selling as well as buying. What is more important is the result of all that volume: does price go up or down?
Want to learn how to ride a bike? Get on one and start trying. Swimming? Gotta get in the water. If you want to be a writer, start writing. If you want to be a trader, start trading. Better to fall on your face, over and over, and over, and over, and over, when you're dealing with a small amount of real money. Don't do the demo, use real $$$, it hurts more, lessons stick better.
Those people who buy during these pullbacks must be pretty good , its funny but when i see crazy volume in a pullback the price ALWAYS go up after this. They dont seem to fail often
Last edited:
Or lucky.
Without knowing the circumstances, it's impossible to say whether the buying is more professional or amateur. If it's professional, you're in good shape. If not, you're in trouble.
Want to be a doctor? Get out there and start experimenting on the indigent. No need to read any medical books. Want to be a writer. Just start writing, no need to study grammar, spelling, vocabulary, plot devices, character studies, etc. See how silly this can get?
Trading is far more cerebral than physical. Actually studying what came before, especially what is proven to fail, will at the very least keep you from reinventing the wheel--at least from reinventing the wheels that don't work.
Fair argument. It goes without saying that study is essential to become proficient at anything. But to study only, disassociated from the actual doingness of the subject will wind up with too much theory that cannot be related to. Having some skin in the game, no matter how small, can give the proper relative importance to what is being learned about. You can read about risk management all day (and one should!) but nothing is going to drive it home like losing something real.
So it's a question of whether it makes sense to begin trading before or after some study. Opinions will differ. I am of the opinion that if you want to embark on an activity, start doing it.