Trading ... it's not for wussies
- Thread starter kut2k2
- Start date
Sounds like the voice of experience.
In my case, it's just a period. I tried to delete the thread but this website being what it is, that option was denied to me. I couldn't even change the title, but I could and did replace the very harsh original content with a period.
Toning things down from my original post ...
I think risk aversion and trading are incompatible.
I think there are successful risk-neutral traders and there are successful risk-seeking traders but there are no successful risk-avoiding traders. Trading requires both brains and guts, and people obsessing over maximum drawdowns won't make the cut.
Quote from tradewiz50:
The Great Master is frequently misquoted
:
Risk averse 'wussies' dont trade. Not even a single trade.
This evidenced by the fact that majority of spread betting accounts opened in the UK never have a single trade done in them. They just remain dormant.
Then there is other type of person who is not risk averse but eventually figures out that profitable trading will require a lot more effort and hard work than they are prepared to put in so they stop trading at some point.
You could call this type of person a 'wussie' or you could say they are being quite sensible.
This evidenced by the fact that majority of spread betting accounts opened in the UK never have a single trade done in them. They just remain dormant.
Then there is other type of person who is not risk averse but eventually figures out that profitable trading will require a lot more effort and hard work than they are prepared to put in so they stop trading at some point.
You could call this type of person a 'wussie' or you could say they are being quite sensible.
I was thinking of the guys who are constantly obsessing over drawdowns or trying to set the perfect stop to prevent any loss ever. Anybody that scared of ever losing a trade shouldn't be a trader.
There is no holy grail so everybody, including the success stories, will have losing trades. Suck it up and get over it, or go back to some day job and stop pretending to be a trader.
