Trading for profit a fools game?

[cashmoney69]

Quote from midlifeguy:

If you can figure out what the crowd is doing and go the opposite, you can make money in trading.

End of story.

So basically what you're saying is to trade against the trend?

 

[gupiao]

Quote from niceneasy:

my thoughts:

trading, like anything, only sees a small % of its participants succeed.

How many hockey, basketball, golf players actually make 1 mill a year plus and can do so consistently vs how many people play the game?

How many businesses, small, med or otherwise succeed and let their owners make 1+ mill a year?

Trading is unique in that the barriers to entry are zero. You can walk into a shill daytrade shop, no money down, and you are a trader. Most guys:

a) arent capitalized to get through the learning curve.
b) arent willing to work hard at it
c) don't enjoy trading as a passion, which is truly the key in anything - becasue it means you will stick it in when it gets rough. and trust me, it gets rough

The Quantum Fund, run by Geoerge Soros, had you invested 100k in 1969 at inception, would have been worth 6 billion dollars in 1993. The odds of randomly achieving this success are 1 in 473 million. THis is of course an extreme and rare example but it tells me can be done with a LOT of work, determination and balls.

NNE

That's why people keep going back to las vegas to "hit the jackpot" or keep buying lottery tickets.

 

[OnlyIf]

Quote from cashmoney69:

So basically what you're saying is to trade against the trend?

The evidence (failure) suggests that the crowd does not trade:
- with the trend
- emotionlessly
- profitably.

Just as well or the profit we rely on wouldnt be as easy to come by

 

[thriftybob]

Quote from jwecme:

So few people make money trading, are we all deluding ourselves that one can actually make money consistently trading?

I think if most people on this forum are honest over time they have done nothing but loose money trading. People posting their P and is a sign of lack of long term profitability as no one who actually made money would feel the need to boast about it on here especially.

Trading is a mugs game for 99.99% of people. Except of course I think I can be "the one who is different". I guess that’s why we all keep coming back for more as we think we are different. Let's hope I am right.....


ps a little bit of honesty on this board would be appreciated. 99.99% of people over the long term loose money trading. Look at all the giants of the industry. LTCM, Livermore they were the best and still ended up loosing money and their sanity.

You must not be owning things that are going up. No joke. For every buyer ther is always a seller and visa-versa. With your attitude, I think the best bet would be to quit using real money until you figure it out.