The Truth About Trading!
- Thread starter MrScalper
- Start date
You're just playing with words, I can do that too.
"Keeping it is not hard at all, just don't spent it."
Analyze what you wrote: "Making money trading is easy..... very easy..."
Trading means making trades, and trades can deliver profits but also losses. So "making money trading" is the total result of all these profits and losses. Conclusion: profitable trading is hard, not easy.
Spot on..you just summed it up for most who try!
Now..if you want to keep the money you make, you must take it out and bank it!
A very successful trader (made millions trading commodity options) once said the following..
"always take out your money when you make it and keep a couple of grand in your back pocket to remind you what it feels like"
As far as I know, he still has the money he made trading!
One of the biggest problems people who try have..is believing what others say, even though what they say might not make sense at all!
After all, what type of fool would make money and then risk it all to make more
'70 percent of people who come into sudden money are broke within a few years, according to the National Endowment for Financial Education. Many even end up cursing their windfalls.'
http://www.cnbc.com/2014/10/01/sudden-wealth-can-leave-you-broke.html
http://www.cnbc.com/2014/10/01/sudden-wealth-can-leave-you-broke.html
Spot on..you just summed it up for most who try!
Now..if you want to keep the money you make, you must take it out and bank it!
A very successful trader (made millions trading commodity options) once said the following..
"always take out your money when you make it and keep a couple of grand in your back pocket to remind you what it feels like"
As far as I know, he still has the money he made trading!
One of the biggest problems people who try have..is believing what others say, even though what they say might not make sense at all!
After all, what type of fool would make money and then risk it all to make more
"always take out your money when you make it and keep a couple of grand in your back pocket to remind you what it feels like"
"After all, what type of fool would make money and then risk it all to make more"
This posting confirms what I posted many times in past: bashers have no clue about trading as they always use eternal compounding as proof that "you should be the richest man on earth" when people post above average returns.
Smart people don't use eternal compounding, so bashers are no smart traders. Actually most of them are even not simple traders at all.
Many people have morgaged their house to start a business, not only that, lived off scraps for a period of time because they were fully invested in a start up.
Imo, if you have a winning system, and the market makes a sizable correction where it is offering numerous bargains, you would be wise to go in 100%. Those opportunities don't present themselves very often, maybe once or twice in your trading lifetime.
I shouldn't need say this, but obviously trade with all your risk parameters in place.
Mindful that a bottom may not be a bottom and not resorting to a highly confident mindset which blinds you to a possible bull trap.
Imo, if you have a winning system, and the market makes a sizable correction where it is offering numerous bargains, you would be wise to go in 100%. Those opportunities don't present themselves very often, maybe once or twice in your trading lifetime.
I shouldn't need say this, but obviously trade with all your risk parameters in place.
Mindful that a bottom may not be a bottom and not resorting to a highly confident mindset which blinds you to a possible bull trap.
I am going to be honest as it can help those who are really interested!
I was no different to most who try. I spent $thousands on books.. courses.. subscription services..I covered everything from stock trading to selling index puts.
The only difference between me and most who try..is that I got lucky!
Lucky means I made a nice bit of money before I lost it ALL back..so I was only out of pocket for my "educational" costs.
Now, I can honestly say that 99% of what is put out there in relation to investing or trading has nothing to do with making money..but has everything to do with parting you with your money!
Also, it is very hard for someone to understand how it really works until such time as you have gone thru the many experiences of winning and losing.
As for risking your house, or betting the farm..well, I think we need not expand on that..only to say that "there is one born every day".
It really is a waste of time trying to explain things that you have discovered to others, so, if you do eventually get to the point where "you know"..just do it to stop the boredom and keep showing yourself just how silly people can really be.
One thing that stands out..if you try to make big you can lose big..but..if you try to make small you can also lose big if you are stupid enough to hold on to losers and not cash in on winners.
You will never go broke taking profits