It's time to get rid of misconceptions in trading

[Dustin]

Trading is easy in comparison to having to work for a living. It's also easier once you know what you are doing.

The only hard part at that point is dealing with occasional draw downs and slow markets.

 

[echo33029]

LOL. Making money is not difficult either, just take the other side of my trades, you will be a guaranteed winner.

Quote from toucanmill:

Losing money is not difficult - it's actually easier than you think!

 

[GodsGift]

Other Misconceptions: Trading is less than 99% random. Jim Simon's success proves that trading isn't completely random, but unless your a mathematician and former government code-breaker like him, it might as well be.

Stop listening to curve fitting randomness, "he came on the bid and I hit him for his shares, then he posted again, blah blah..."

 

[Big Game Hunter]

I definitely think one of the biggest hurdles to overcome is lack of good information. Id go so far as to say that if you dont have a mentor to show you the ropes so to speak your chances of success diminsh by a huge amount. Basically your reduced to fumbling through a minefield of mistakes, misinformation and incorrect reasoning that can lead you towards disaster over and over again. This is why I think so many people take so long to get anywhere when there on there own and why trading has a reputation of being so difficult to be consisent at. I will say though that mentor or not persistence always overcomes in the end. If you really want it bad enough and your thinking the right way about things youll always get it in the end.

 

[smilingsynic]

Quote from optioncoach:

Kind of silly, if you have a ton of money it does not make trading easier, it makes you care less about losses if you keep them small cause you got a big bankroll. But large account does not make it easier, just means you got more money to lose.

Having a large bankroll does not make one a better trader, but it helps in the learning curve in that one has something to live on while learning this business.

Many traders stop trading not because they lost all of their money, but because they could not support themselves on the money they made trading.

 

[fearless9]

Quote from Big Game Hunter:

I incorrect reasoning that can lead you towards disaster over and over again.

incorrect reasoning.

There you have the heart of the problem in a nutshell.

regards
f9

 

[andread]

Quote from Dustin:

Trading is easy in comparison to having to work for a living. It's also easier once you know what you are doing.

The only hard part at that point is dealing with occasional draw downs and slow markets.

I like the way you say it. Sounds like someone who knows his stuff.

How long did it take you to come to this opinion?

 

[Dustin]

Quote from andread:

I like the way you say it. Sounds like someone who knows his stuff.

How long did it take you to come to this opinion?

It took a few years to be comfortable with the fact that I *should* be able to trade for a living as long as I desire. Once you get past that point trading is mostly relaxing and fun. There's nothing else I would rather be doing.

 

[andread]

Quote from Dustin:

It took a few years to be comfortable with the fact that I *should* be able to trade for a living as long as I desire. Once you get past that point trading is mostly relaxing and fun. There's nothing else I would rather be doing.

Interesting answer. One last question: were you trading in 2000? I guess a major change in the market like that will take you back to square one, and trading is not so relaxing anymore

Thank you for the answer

 

[Dustin]

Quote from andread:

Interesting answer. One last question: were you trading in 2000? I guess a major change in the market like that will take you back to square one, and trading is not so relaxing anymore

Thank you for the answer

I started in '97, so yes I was. Actually 2000 was my breakout year and it was a great trading environment. Volatility is everything.