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There is no cure for Gambling Addiction Traders
- Thread starter emg
- Start date
It's sort of a good thing for profitable traders then. Like a casino, just raking in the sucker's money all day every day... and the suckers never run out of money, they will beg, borrow, steal, etc, wtf, they are addicts! Addicts are amazingly resourceful at finding money for their habits! So there 'ya go, not only is trading a way to earn more than Dentist/Lawyer/Doctor combined in less hours per day, it's got job security built in!
WiN stands for Work is Nonprofit!! Obama is adding a Trillion in taxes, work is going to be far less profitable than it even is now!! There are winners and there are losers... Get real people, we need to trade well or die!!
WiN stands for Work is Nonprofit!! Obama is adding a Trillion in taxes, work is going to be far less profitable than it even is now!! There are winners and there are losers... Get real people, we need to trade well or die!!
Some good points made here.
It reminds me that somethings don't work the way one would think. For example, I played poker specifically for training myself for trading. I found that in full ring games I lacked patience and didn't play well.
Okay, it might sound logical that if I lacked patience to play in a ring game that to get better I would need to develop patience. Instead I found that I just needed to find games I could, i.e where patience wasnt as important.
I started playing turbo games. One might reason that that I'd lose money even faster as I'd have more chances to call and more chances to lose. This is not what happened though. I became very dominant. There are studies that show a strong relationship between the time between the stimulus and how quickly the reward comes -- basically the quicker the reward comes the stronger the urge to gamble. So, turbo game with fewer players should be provide the strongest situation under which someone would gamble or lose.
But, in poker something else happens, mediocre hands become more playable, good hands come off faster (less waiting), I got more tells on the players, and I was a stronger post flop player. All in all, I was just very dominant in that game.
In other words, I focused on my strengths.
@EMG I doubt many people who got rich trading did so by focusing only on losing. You need to start to focus on winning as it is clear you are focused on negatives. Maybe 90% of traders do lose. But how many that go around shouting such statements actually win? Probably 0%.
It reminds me that somethings don't work the way one would think. For example, I played poker specifically for training myself for trading. I found that in full ring games I lacked patience and didn't play well.
Okay, it might sound logical that if I lacked patience to play in a ring game that to get better I would need to develop patience. Instead I found that I just needed to find games I could, i.e where patience wasnt as important.
I started playing turbo games. One might reason that that I'd lose money even faster as I'd have more chances to call and more chances to lose. This is not what happened though. I became very dominant. There are studies that show a strong relationship between the time between the stimulus and how quickly the reward comes -- basically the quicker the reward comes the stronger the urge to gamble. So, turbo game with fewer players should be provide the strongest situation under which someone would gamble or lose.
But, in poker something else happens, mediocre hands become more playable, good hands come off faster (less waiting), I got more tells on the players, and I was a stronger post flop player. All in all, I was just very dominant in that game.
In other words, I focused on my strengths.
@EMG I doubt many people who got rich trading did so by focusing only on losing. You need to start to focus on winning as it is clear you are focused on negatives. Maybe 90% of traders do lose. But how many that go around shouting such statements actually win? Probably 0%.
Quote from Maverick74:
I have found some of the best traders in the world have ADD.
Even the actor jim carrey, an excellent actor, suffered A.D.D. What i meant is those that have A.D.D will have difficult time trading unless they found a way to focus by smoking weeds or some kind of drug substance daily or every hours.
Quote from emg:
Even the actor jim carrey, an excellent actor, suffered A.D.D. What i meant is those that have A.D.D will have difficult time trading unless they found a way to focus by smoking weeds or some kind of drug substance daily or every hours.
What? This makes no sense. ADD is a gift. Those who have it can do things most people even with the aid of drugs could never do, which is hyper focus. It's not a matter of focusing on the wrong thing because people with ADD tend to focus on that which they are interested in, in most cases if those choose to trade, then it's trading.
I think most people on this board have no idea the kind of focus and energy that is needed to trade successfully. And weed is the worst thing for you to have to trade. The people who have to take drugs are essentially trying to synthetically replicate the qualities of someone who has ADD, that is why they take the drugs. If you have ADD, then you don't need the drugs!
Quote from emg:
According to this article:
Rsearchers from the University of Cambridge and the University of Nottingham have found that problem gamblers react differently to gaming stimuli due to differences in the chemical activity of their brains from casual gamblers, according to a study published in the Journal of Neuroscience. The survey demonstrated that dopamine production in problem gambling victims was significantly higher than in normal individuals, especially in betting situations that almost but do not win.
Successful Traders vs Gamblers:
What makes u a successful traders:
1) Have a risk management rules. Must follow the rules.
2) Sufficient Capital to trade.
3) Well educated
4) have self control or be able to control their brain
What makes u a Gambler:
1) Poor or no risk management rules at all. In fact, if you have the personality that cannot follow rules and orders, u are a big big losers!!!
2) Poor education background
3) insufficient Capital to trade. Many losers strongly believe that they can become a full time traders with a starting capital $2000 or $5000, $10,000, $20,000 etc etc
4) They can't control their brain. If u are suffering A.D.D (attention deficit disorder), u are in trouble.
More than 90% of small traders lose. They just lose!!
There should be more. I am looking for the best answers. Bring them up!!
link to research?
Failed trader: denial
attacking the messenger
I already see tons of failed trader in these thread who fit these extra qualities.
attacking the messenger
I already see tons of failed trader in these thread who fit these extra qualities.
Quote from Maverick74:
What? This makes no sense. ADD is a gift. Those who have it can do things most people even with the aid of drugs could never do, which is hyper focus. It's not a matter of focusing on the wrong thing because people with ADD tend to focus on that which they are interested in, in most cases if those choose to trade, then it's trading.
I think most people on this board have no idea the kind of focus and energy that is needed to trade successfully. And weed is the worst thing for you to have to trade. The people who have to take drugs are essentially trying to synthetically replicate the qualities of someone who has ADD, that is why they take the drugs. If you have ADD, then you don't need the drugs!
Why don't we define A.D.D:
Inattention, hyperactivity, and impulsivity are the key behaviors of ADHD.
Predominantly inattentive type symptoms may include:[29]
* Be easily distracted, miss details, forget things, and frequently switch from one activity to another
* Have difficulty maintaining focus on one task
* Become bored with a task after only a few minutes, unless doing something enjoyable
* Have difficulty focusing attention on organizing and completing a task or learning something new or trouble completing or turning in homework assignments, often losing things (e.g., pencils, toys, assignments) needed to complete tasks or activities
* Not seem to listen when spoken to
* Daydream, become easily confused, and move slowly
* Have difficulty processing information as quickly and accurately as others
* Struggle to follow instructions.
Predominantly hyperactive-impulsive type symptoms may include:[29]
* Fidget and squirm in their seats
* Talk nonstop
* Dash around, touching or playing with anything and everything in sight
* Have trouble sitting still during dinner, school, and story time
* Be constantly in motion
* Have difficulty doing quiet tasks or activities.
and also these manifestations primarily of impulsivity:[29]
* Be very impatient
* Blurt out inappropriate comments, show their emotions without restraint, and act without regard for consequences
* Have difficulty waiting for things they want or waiting their turns in games