People are negative about trading

[grayopogo]

It doesn’t surprise me when people are negative about trading. I’m more surprised when someone shows interest in it or says good things about trading. We all are surrounded by regular people who are busy earning through conventional methods and we can’t expect them to understand something that they have never done. These forums are the best place to share your experiences as you can find so many like minded people who are going through the same things.

 

[Diplogenesis]

According to me, the main reason for many people to think negatively about trading is the increased number of scams. Traders should get proper education about the market and avoid being scammed.

 

[Smokey]

It doesn’t surprise me when people are negative about trading. I’m more surprised when someone shows interest in it or says good things about trading. We all are surrounded by regular people who are busy earning through conventional methods and we can’t expect them to understand something that they have never done. These forums are the best place to share your experiences as you can find so many like minded people who are going through the same things.

Agreed. I find a lot of people are risk-averse and maybe sometimes for a good reason, but they also don't have the time or interest and find it easy to conclude negative things due to the mainstream experience.

 

[cruisecontrol]

Because they geless if you are successful or afraid that you will be.
They all the same..

QFT. I normally wouldn't 'like' a post with such an atrocious spelling error, but I'll make an exception here for this one.

 

[volpri]

I encounter two types of people. One type are those who think I am a loser and hence I am trading. Another type are those who want tips from me. I try to avoid every one. For me trading has become a 14.5 hour a day job since I started trading on MCX. I really dont have time for any such types these days.

Trading is a solo activity except for when you have trading buddies with whom you share knowledge regularly.

I have a trading friend with whom I chat often on telegram during trading hours, as we trade the same instruments. He has an approach to handle people who ask him about trading. He talks back to them in complete Al Brooks language and they go nuts. If you know what I mean.

Hilarious! You mean things like: Like I trade H1s sometimes H2s but hardly ever more than H4s…... And a failure of a failed BO indicates I have taken the wrong side…..PB’s and implied PB’s can indicate continuation if in a bull or bear spike BO but may fail if at top or bottom of a bull or bear channel because these both are really just flags; bull being a bear flag and bear being a bull flag on a larger TF…

 

[volpri]

Don't discount your own hard work to get back and straighten out your schooling, apply yourself properly with a new mindset. That life experience of seeing something through means personal growth. Rolling up your sleeves and doing what's needed speaks well of you. People whine because they aren't willing to do the same. This is not my quote, but a nice fit here.

"The harder I work, the luckier I get."

No need to explain for other people, they are who they are, you're different, so you can do what they can't. If you want better results, simply ask and work on craft.

In the markets, the big thing to understand is...

"Technicals and fundamentals don't move the market. Humans do." That IS my quote. And now I will prove it.

Take any stock. It's dead on a given day, no volume whatsoever. The technicals, PE ratio, all the fundamentals are what the are at that moment. The whole day has no volume, the price remains flat.

Take the same exact day, same stock, exact same technicals and fundamental, nothing different. On this day, hedge fund XYZ and MM ABC need to dump inventory, they're in trouble in a big way. At 7am, with no pre-market volume, they hit every buy order, sending the share price skyrocketing up. Traders jump in. At 8am, before the ticker's company even opens for business that day, they drop a massive sell order in, dropping the price far under the open.

Another example. Look at AMC today. No theatres were open at 9am, but from 9am to 10am, the share price went from 28./share to 34./share, then back to 27./share by 10am, all within one hour when the company wasn't even open for business, with no news.

What moved both stocks? How did any technical of any sort have anything to do with moving these stocks? They didn't, since they never changed. All the math in the world would not have given you a clue. Instead, if you read and traded the MMs intention, you'd make a nice profit. I know I did. MMs never use technicals, they never trade them, since humans move stocks, not "business math" of any sort. All of that is bait, nothing more.

All this is to say, if you trade the pumper's intention, understand what they do and how they do it, you'll make more and grow your account much faster and more reliably. Simply ask what you don't know, fill in the blanks, and build your craft.

Happy trades!

@nodoubts are you SURE about this?

 

[nodoubts]

Anyone who will admit their weaknesses and their willingness to work on improving themselves after doing so is a no-brainer. It takes courage to expose yourself and your flaws, so I'm as sure as day follows night. We need to applaud anyone seeking to improve. Not easy. Kudos to him.

 

[Natalia Rev1]

In my opinion, some common mistakes that are committed by the intraday traders are averaging positions, not doing research, overtrading, and following too much on recommendations. These mistakes have caused many day traders to take losses. Around 90% of intraday traders lose money in less than 4 months.

That's one of the main reasons why people are afraid of this career

 

[ChartXP]

I'm from a country where, once upon a time, ponzi scammers used the term "trading" to promote their scam.

And yes, trading is negative for ordinary people in my country.

The population of stock market investors is less than 1% of the total population. Even though, in absolute terms, the number is very large because we are quite a big country.

 

[Dollardogs]

It really sucks that the average person is negative about trading. I’ve gotten to the point where I do not share my trading life with much of anyone. I have 1 friend who is very supportive, no surprise that he was trading for about 1.5 years until recently. One of my closest friends continues to say that I should focus on my regular job and forget about trading. Another close friend is a financial advisor and he is happy to deliver index type returns and would never support the risks of trading. I could go on and on of people I cannot share my success and failures with. But at least everyone here gets it.

I'm in the same boat. I got interested in stocks 2 years ago, been slowly learning since. My gf humors me when I think out loud about it, but I'd kill for someone to geek out on stocks with more regularly.