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lets be honest
- Thread starter Halal Burger
- Start date
Quote from bone:
Besides, I trade against the market. I do not compete against you. I compete against a distillation of opinion regarding price that is captured in a moment in time.
Uh, no.
It's an immutable fact that whether trading equities, futures etc u are trading against PEOPLE. (Isnt the market simply a collection of people?)
Also another fact is that wrt to the futures markets, commerical and small speculators hold largely opposite positions. And guess who makes the $$$ ?
(whether thru inside info/weight of money, whatnot... is beside the point here)
Can't find the proof in B&W but the 10/90 'rule' probably holds true, almost axiomatic:
Money flows from 90% of participants to the minority 10%.
Now, where would the losers come from if everybody had a "winning system" and made $$$...
May I suggest "The Futures Game"by Teweles as an insightful read for those interested in the above points.
Res Ipsa Locquitor.
RunningBare
Quote from Halal Burger:
ok this sounds shit but lets be honest. Why do most of you think you can be successful traders?
why do so many ppl try to make it into show business but fail? why do so many ppl try to become lawyers and fail?
why do so many ppl try to neg out traders???
anything that pays well, or involves hardwork will have a very low success rate... hence the reason why one would receive such compensation for what they do...
"an immutable fact that whether trading equities, futures etc u are trading against PEOPLE. (Isnt the market simply a collection of people?)"
This is also bullshit. You are trading against the market, which is an average of all activity, not a single person.
What a worthless thread, move it to chit chat with all the other propaganda pieces made up by losers.
This is also bullshit. You are trading against the market, which is an average of all activity, not a single person.
What a worthless thread, move it to chit chat with all the other propaganda pieces made up by losers.
I would be very interested to find out the stats of people who have blown themselves up once, twice or even three times before they made it trading. My first two times out were a complete failure. Yet I felt that I had to try again. I have been pretty successfull so far....learned from my MANY mistakes and have ditched my bad habits for good ones. If you ever give up on your dreams you might as well quit life all together buy a trailor and apply for welfare. Just my .02.
Good luck to all,
Chris
Good luck to all,
Chris
Quote from indahook:
I would be very interested to find out the stats of people who have blown themselves up once, twice or even three times before they made it trading. My first two times out were a complete failure. Yet I felt that I had to try again. I have been pretty successfull so far....learned from my MANY mistakes and have ditched my bad habits for good ones. If you ever give up on your dreams you might as well quit life all together buy a trailor and apply for welfare. Just my .02.
Good luck to all,
Chris
I'm in that category. I've been trading successfully for years now, but it was ugly starting out. Blew up twice over the first two years. Almost blew up again in 1997, after a decade of trading, but that was just stupidity (taking HUGE currency positions for my account size during the Asian Econ melt down). Now I have strict money management, and no worries about blowing up again.
Hang in there, and if at all possible, find somewhere to get trained or a mentor.
Jay