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Is trading that hard? Or are people that stupid?
- Thread starter CaptnDustball
- Start date
Quote from CaptnDustball:
jb, I enjoyed reading your post. It is a little confusing. So for these books that successful traders have written (not talking about the pseudo-successful; but real successful), they're all b.s.? Are you saying they don't know what they're talking about or that they're lying to you (maybe to keep their advantage?). If there's nothing to learn from books, where should I learn? I guess from other traders, right?
I will get a chance to watch other traders in action, but not always. In the meantime, how do I keep advancing my knowledge?
An interesting question to ponder (stated many times here before)
If the guy writing the book had something that truly worked, that only he knew,,,, would he use it to make money in the markets --- or write a book about it
Quote from CaptnDustball:
I just started posting on ET and have never traded in my life. I've only recently started studying how to trade. A lot of people on this board talk about how hard trading is. But as I look around at some of these threads, many of these traders seem like morons. They did no homework when it comes to trading, jump in the waters too early, bet way too much of their capital on single buys, don't seem to know even the most basic of practices/rules. And a lot of them seem to come from gambling backgrounds - which pretty much assures that they'll self-destruct.
It seems like if you're smart, do a ton of research studying (for 1 or 2 years), play conservatively, don't get greedy, stick by your plan, etc., that it's not very hard to be good at this game. What do you think?
Also, how big of a percentage are these people in the trading world? I've been told that in order to succeed you need to be better than 95% of the traders out there. But if these people constitute 50% of all traders, then I only have to be better than 45%.
Just what this place needs, another know it all punk. I can't wait for the "I blew my whole account" thread to get posted.
Thanks for the responses, guys.
It is a good question. Why would these guys try to make money on a book (what's the best case scenario for a "how-to" author? 2 million dollars?) when they could be trading?
Take Curtis Faith, the most successful Turtle, who is now bankrupt. What isn't clear is if he just doesn't like trading (to his credit he didn't trade after the Turtle program ended), or if when the chips were down, he attempted to trade again and lost all his money, and THEN wrote his book because it was his last option.
But I refuse to believe that there aren't at least a couple of books out there that have some good information.
It is a good question. Why would these guys try to make money on a book (what's the best case scenario for a "how-to" author? 2 million dollars?) when they could be trading?
Take Curtis Faith, the most successful Turtle, who is now bankrupt. What isn't clear is if he just doesn't like trading (to his credit he didn't trade after the Turtle program ended), or if when the chips were down, he attempted to trade again and lost all his money, and THEN wrote his book because it was his last option.
But I refuse to believe that there aren't at least a couple of books out there that have some good information.
In life, most people are not the sharpest. Its a sad fact. Just look at this sub-prime mortgage disaster. If most people were to use 5% of their brain, we would not be in this mess.
Just like the saying, never get high on your own supply. Never buy something you cannot afford. Adults need to have CONTROL over their spending habits. The access to credit is way too easy now a days. Becoming a credit nation was not the best move for America.
Just like the saying, never get high on your own supply. Never buy something you cannot afford. Adults need to have CONTROL over their spending habits. The access to credit is way too easy now a days. Becoming a credit nation was not the best move for America.
Quote from robbie380:
fundamentals are not worthless to traders and "the market" can be wrong. granted, new traders shouldn't worry about when "the market" is wrong but finding these situations can be very profitable if you can find ways to attack them.
I agree on both points, the latter especially.
You can take the attitude that the market is always right; or, you can assume the market is the biggest "crowd" in the world, always right during the middle of the moves, and wrong at the turns. Maximizing profits is all about identifying when to fade and when to go with.
Where is the market wrong right now?
Sell spikes, buy dips....trading 101. Fade rallies. Today opens a precipitous drop, buy it!
Is trading that hard? Or are people that stupid?
Dammmmmmmmmmmmmn BOY'O - you are the stupid one (NOT "people - what people ???") - As you will some time in the future find out !!
Dammmmmmmmmmmmmn BOY'O - you are the stupid one (NOT "people - what people ???") - As you will some time in the future find out !!