Is trading that hard? Or are people that stupid?

MandelbrotSet · Feb 17, 2008

Quote from riskfreetrading:

Trading is the hardest business out there. 80% have to pay the 20%. All that writing at the beginning is easy to realize. The problem is that you will end up in situations where you think you are the sniper when in fact you are the snipee. When you realize it, and change your mind, the market goes the other way, and again you become the snipee while thinking you are now a sniper. I am talking making thousands of trades here, so that what I describe can happen (if you get to 1000s of trades).

Do not under-estimate your opposition! You need to think deeply about trading and about yourself. Markets look easy once you have thought deeply enough and understood youself and human nature.

You will make money when you have an edge, and also when you reach the point where your trades are essentially following the market a large percentage of the time.

That's a great post.

Thank you.

illiquid · Feb 17, 2008

Call it backtesting, call it a chart -- the certainty of the past is a false comfort, because comfort itself is the siren of certain doom.

The real key to success is the ability, after finding a hundred reasons to go long a stock, to short it instead without hesitation if that's where the profit lies. Always ask yourself to do what is most uncomfortable, day in and day out, and over time you must come out ahead.

MandelbrotSet · Feb 18, 2008

Quote from traderpro:

First you need to learn the game, then it's not hard. After 1 year you have no profit move on. Unless mom and dad still bring you milk and cookies don't waste your life.

... by your logic if a kid isn't walking after a certain time well then their going to be a cripple all their life or if they aren't talking after a certan time well then they're going to be a deaf/mute.

Bullshit.

infolode · Feb 18, 2008

Quote from illiquid:

Call it backtesting, call it a chart -- the certainty of the past is a false comfort, because comfort itself is the siren of certain doom.

The real key to success is the ability, after finding a hundred reasons to go long a stock, to short it instead without hesitation if that's where the profit lies. Always ask yourself to do what is most uncomfortable, day in and day out, and over time you must come out ahead.

(snip) "Call it backtesting, call it a chart -- the certainty of the past is a false comfort, because comfort itself is the siren of certain doom."

Amen to that

infolode · Feb 18, 2008

Quote from MandelbrotSet:

... by your logic if a kid isn't walking after a certain time well then their going to be a cripple all their life or if they aren't talking after a certan time well then they're going to be a deaf/mute.

Bullshit.

Agreed, Marcel Link comes to mind right away.

Anekdoten · Feb 18, 2008

Successful trading is very similar to the end of the movie "The Matrix".

When Neo finally realizes he is "The One" he can see through the Matrix and a whole new door of opportunities opens up for him.

Very similar in trading, when you "get it" you will get a similar feeling and it will be so clear you won't doubt this the way you did before you "got it"

Anek

riskfreetrading · Feb 18, 2008

Quote from infolode:

"Listen, here's the thing. If you can't spot the sucker in the first half hour at the table, then you ARE the sucker."
-----
"Never insult seven men in a bar when you only have a six shooter."

Look my friend. I am talking about being on the table for 40 years! You have to spot all suckers following your logic. Many times you will be the sucker, that is a certainty, and you have to account for many such cases. You are talking about a half hour, I am talking about 40 years. That is what success means. There at that old table, seen many suckers including oneself, and have no problem being a sucker from time to time as long as in the long run one is one of the 20% who are financed by the suckers.

traderpro · Feb 18, 2008

Quote from MandelbrotSet:

... by your logic if a kid isn't walking after a certain time well then their going to be a cripple all their life or if they aren't talking after a certan time well then they're going to be a deaf/mute.

Bullshit.

It is just based on my time in the market. You are a fool, and a clueless fool. You get your bank account over 7 figs and we can talk little boy.

MandelbrotSet · Feb 18, 2008

Quote from traderpro:

It is just based on my time in the market. You are a fool, and a clueless fool. You get your bank account over 7 figs and we can talk little boy.

LOL ...

yeah ... RIGHT!

CaptnDustball · Feb 18, 2008

I certainly hope my trading doesn't end up like The Matrix. Cause then in the 2nd and 3rd phases of my career I will absolutely suck.

So let me try to gleam some wisdom from all of you. Are you really playing against other people here? Or are you playing against the market? Which should you pay more attention to?

Because if I'm playing against people, then I'm going to try to outthink them. But if I'm playing against the market, I will apply logic to that line of attack. It seems like the two require different approaches. Can somebody enlighten me on this?