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Lack Mindset > The main reason for compulsive trading.
- Thread starter RangeTrader
- Start date
Quote from RangeTrader:
Works in the market too. If you completely 100% don't give a sh*t and have zero knowledge of the market you have a 50-50 win rate and steadily lose money very slowly just from commissions and spread.
If you have a 100% don't give a sh*t attitude and know a little about technicals and odds you will make money. You can trade as ugly as hell and still make consistent money if you have zero emotion. But, people like that are rarer than rare... Only a few exist in the world and I am not one of them.
Not many people have zero emotion. There is not many people that can buy into hell and Armageddon with no qualms like warren buffet and a few others. He isn't emotionally influenced by the market in the least.
u offer no proof for your conclusions.
Quote from zdreg:
u offer no proof for your conclusions.
To answer question one. With very high technical skill and market knowledge someone with high emotions can maintain profitability. The less emotionally influenced you are the less skill you need to maintain profitability.
To prove my conclusion is very simple.
Simulate this person... MrNotGiveASh*t. He picks a random time of the day and flips a coin to go either long or short for ten minutes each day. Mathematically it can be very easily proven via backtesting that he very slowly loses money via commissions.
Now, take your average trader who is influenced by emotions... He will quickly lose money 5-10x faster either by holding onto his losers, shorting a market that he knows is rising, or chasing trends that dip soon after he enters panicking him out. Nearly everyone here has personal proof of that. Look at me back in 2009 throwing 100k short every month as the market rose. LoL! I knew nothing about technicals then. I knew the market was rising, but thought it was nonsense... SHORT!!!
If you want proof I have the full TDA account statements for the spy/spx puts.
it depends on what you are looking.
when you look ahead, nothing is there
when you look back, everything is there
when you sit, everything is moving
when you jump in, everything is in the range and chopping
.......
that is "most likely" means
when you look ahead, nothing is there
when you look back, everything is there
when you sit, everything is moving
when you jump in, everything is in the range and chopping
.......
that is "most likely" means
Quote from RangeTrader:
Or said much simpler... If you do give a sh*t you will most likely lose. If you don't give a sh*t you will mostly likely win.