When to call it quits as a trader

man · Oct 7, 2003

Quote from hypostomus:

...If YOU know what the hell he means, please enlighten us. Perhaps what he needs is an amanuensis.

i have no idea. and i doubt about people who spend too much time writing posts ...

harry is not a person i would "follow". due to a lack of useable information. seems like you read much more of him than i did ...

most likely he is in a desperate situation. better ignore than offend. for both of you.

the otehr thing is that people of his kind add colour to a board like this. no matter whether you like the colour or not - it is colour.

whatever you say about harry, your conduct ... with all respect ... sucks.

peace

HiggsBoson · Oct 7, 2003

Trading has been the central focus of my life for 15 years. I got a job as a programmer so I would know how to write trading systems. I went to grad school and studied statistics because I needed to. I read every book then threw all the books away. I work on this stuff night and day. I wish my employer would fire me so I could just roll out of bed and sit down at my computer. I'll never quit. I can't quit. Guess I'll go down with the ship.

hypostomus · Oct 7, 2003

...well said, especially the part about being wary of frequent posters. Trading is the most important intellectual and sporting activity in my life. People post here either because they seek answers or have answers to give. My posts on other subjects are invariably courteous and are meant to be helpful. When Harry intrudes, however, it is difficult to be courteous because he is maddeningly obtuse. He mangles language, logic, math, and science. I will make up a Harry post for you, stipped of the verbiage:

"Experienced trader need newbie influx. Like well known logistic equation describe predator-prey relation. Logistic function however special case of Chaos Theory invent by Lorentz, published before most you even conceived, never taught in home economics class. Chaos theory, however, of no use in trading. I never say experienced trader need newbie."

THAT sucks.

Mecro · Oct 7, 2003

Quote from T-REX:

DUDE! I have to disagree. Dont blame the number of participants in market as the reason why you cant get a trade off. Now this IS NOT a personal attack against you. I have read the comments here and it would appear that people think that the number of participants dictate an effecient market???? Thats RUBBISH!!
The FOREX MARKETS trade like 100 times the $$$ volume of the NYSE and yet its markets are EXTREMELY effecient!!!

Remember, your comment is quite the opposite. The more novices with deep pockets the more "lunch money" for you & I.

And I have to disagree with that. Maybe in some trading styles but in scalping, those big numbers of newbies only make it worse. Especially when the number of big bids and offers are not growing. Trading ranges get smaller and smaller, while the downside gets bigger and bigger.

If you are experienced enough, you can start seeing through the noobs and making money from them. Thats basically what the specialists do. Also the smarter institutional traders, especially on the short side.

futurecurrents · Oct 7, 2003

Quote from hypostomus:

...well said, especially the part about being wary of frequent posters. Trading is the most important intellectual and sporting activity in my life. People post here either because they seek answers or have answers to give. My posts on other subjects are invariably courteous and are meant to be helpful. When Harry intrudes, however, it is difficult to be courteous because he is maddeningly obtuse. He mangles language, logic, math, and science. I will make up a Harry post for you, stipped of the verbiage:

"Experienced trader need newbie influx. Like well known logistic equation describe predator-prey relation. Logistic function however special case of Chaos Theory invent by Lorentz, published before most you even conceived, never taught in home economics class. Chaos theory, however, of no use in trading. I never say experienced trader need newbie."

THAT sucks.

************************************

LOL .......I'm glad it's not just me. I thought I was losing my reading comprehension skills due to my advancing age and heavy drinking.

Thank goodness, now I can go back to drinking again.

Moohead · Oct 7, 2003

When to call it quit??

When you lose money 5 month in a row, and/or when you see your original capitol diminishing to an alerting level.

Moohead · Oct 7, 2003

You need to figure out the minimun amount of moneis that you need for your monthly expenses, if you can not make that amount then you need to find other employment. There's no but, if, because etc, everything is in black and white, don't kid yourself

hypostomus · Oct 7, 2003

...want make digression up to theory chaos? My feel strange attraction same. Think be much better partial deferential made whole. Also, needs made equations linear, non-simultenuous. Anybodies here talks chaos? We start? You spin thread! Peoples haves many misdeceptions theory chaos. Think markets chaotic! Want bad talk this tissue smart fella. BM me if interest.

dbphoenix · Oct 7, 2003

Quote from hypostomus:

...want make digression up to theory chaos? My feel strange attraction same. Think be much better partial deferential made whole. Also, needs made equations linear, non-simultenuous. Anybodies here talks chaos? We start? You spin thread! Peoples haves many misdeceptions theory chaos. Think markets chaotic! Want bad talk this tissue smart fella. BM me if interest.

Switching from Franglish to Japanglish?

vikana · Oct 7, 2003

Quote from jbtrader23:

I'm going to start some businesses, and focus much less on trading. Not give up completely, but finding better opportunities. If trading has become boring, tedious, or just plain unprofitable for you, open you eyes up to opportunities out there. They are everywhere.

I agree, this is the only sensible thing to do: Go where the money is. 70s and early 80s it was commodities, mid 80s to 90s stocks and real-estate.

The only asset you have that you never can get back is your time, so you should only do things that are worthwhile. Trading, fortunately, can always be a fall back in case other types of businesses are difficult to build. I've gone back and forth several times.