Why Do We Trade? For Real.

dbphoenix said:
One can recognize skill in others even though he doesn't necessarily have them himself.

Are we talking about running a business now?
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IMO trading is just another job. No different from management or anything else. There are tactical differences of course, but they are more superficial than truly structural.
 
cornix said:
Wish to produce and receive some result of that activity most likely.
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And the result of following a thoroughly-tested and consistently-profitable trading plan is profits. However, profits are the result, not the cause.

If this is going to turn into another theoretical exercise, I'll have to pass. There are so many of these already, and they all turn out the same way. This thing with the trading plan is turning into a party piece. Either one is going to do it or he isn't. Nearly everyone doesn't. Which is a pity, but there it is.
 
dbphoenix said:
And the result of following a thoroughly-tested and consistently-profitable trading plan is profits. However, profits are the result, not the cause.

If this is going to turn into another theoretical exercise, I'll have to pass. There are so many of these already, and they all turn out the same way. This thing with the trading plan is turning into a party piece. Either one is going to do it or he isn't. Nearly everyone doesn't. Which is a pity, but there it is.
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That's an important practical question IMO. Do people mainly trade for the money (the result), for fun (the process) or something else?
 
cornix said:
That's an important practical question IMO. Do people mainly trade for the money (the result), for fun (the process) or something else?
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Seriously, why does it matter? What does somebody else's motivation have to do with why *you* trade?
 
nursebee said:
Wow, what an interesting thing to catch up on, surprised this kept up so much, and go so off topic... TOO MANY attacks on people here, detracts from honest discussion or feedback. I find that the people with opposing opinions or ideas are the ones I most need to listen to. I remember years ago arguing that oil would Never be sub $100 a barrel again, boy was my head stuck in the sand. Understanding or being open to opposing viewpoints, being able to argue their viewpoint, and your own, is the good way to understand things. Growing up believing in something like TA (I miss some of the TA that headache gal used to post), spending years with it "working" only reinforces that it works, without understanding why it might not work.

I believe in limited application of TA for several reasons. 1) Many people follow it. 2) As WON talked about studying past fund managers, they bought the new highs! 3) In order to be a great growth story, new highs have to be hit over and over. On the other hand, I've done bought my fair share of DOGS hitting new highs whilst on margin that BLEW ME THE F UP!

Examples of TA that are working for me- click images for larger
1. http://4nursebee.blogspot.com/2014/11/cross.html
2. http://4nursebee.blogspot.com/2014/11/can-tea-leaves-be-read.html
3. Above company now above 9 with blue sky.

Did I buy that company based upon TA alone? Hell no. I bought it based upon serious research, more work than anyone I've ever come across other than the guy that brought LL to task in 2013, he actually tested formaldehyde content himself. So it is FA, combined with TA that works for me. This segues into another topic brought about here.

Someone argued that big firms/institutions have power or benefit not available to the retail trader at home. BULLSHIT. Firms have rules that have to be followed. For the NVAX trade, there is no way they would have sat thru 30% loss, gotten a nice gain on a significant portion of their holdings as it started to move up, and then ADDED to near 100% exposure. Same thing with my trades in TSLA. Big firms of any size can't pyramid winners, they have to decrease risk exposure. Win for the little guy.

Coding a trading plan is really a weak argument brought up. No I can't code what I do, no I cant code. If I were to code a system that got someone rich, it would be get a job, save as much as you can, LBYM, use a ROTH. Work a long time. Done. You are rich. Oh, low cost equity index funds as preferred vehicle.

Surf as a former market TA expert, did you get into astrology?

I think Don Miller is purely TA trader.
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My initial trading mentor-- guy made millions starting with his college fund--- was as astrologer so i am familiar with astro finance. I also am email friends with arch crawford having interviewed him for Yahoo.

So, i did the opposite, astro was my introduction to TA. Do i believe in it? No.


surf
 
marketsurfer said:
My initial trading mentor-- guy made millions starting with his college fund--- was as astrologer so i am familiar with astro finance. I also am email friends with arch crawford having interviewed him for Yahoo.

So, i did the opposite, astro was my introduction to TA. Do i believe in it? No.


surf
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I am familiar with dart finance.
Rules:
  1. If pair you should buy
  2. If impair you should sell
  3. Outer small circle is double position
  4. Inner small circle is triple position
  5. Red point in the middle is go all in
  6. Small green circle is extra dart
  7. If you miss the board your account is wiped out

Must be frustrating to be surrounded by millionaires and not be one of them. You are probably the exception that should confirm your statements.

orion_2.jpg
 
i am nobody said:
I am familiar with dart finance.
Rules:
  1. If pair you should buy
  2. If impair you should sell
  3. Outer small circle is double position
  4. Inner small circle is triple position
  5. Red point in the middle is go all in
  6. Small green circle is extra dart
  7. If you miss the board your account is wiped out

Must be frustrating to be surrounded by millionaires and not be one of them. You are probably the exception that should confirm your statements.

View attachment 150328
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Hmmmm, personal attacks again because i have destroyed your god and hope---- arch crawford has the number one most accurate newsletter of all time based upon on astro and that doesnt mean astro makes sense-- Any evidence for dart finance, moron? Go back to your cubicle or hovel.
 
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cornix said:
That's an important practical question IMO. Do people mainly trade for the money (the result), for fun (the process) or something else?
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We do this because we believe -- or want to believe -- that we can. Same reason we walk into a casino. When we are then presented with evidence that maybe we can't, there is at the very least a readjustment to expectations. Sometimes a blow to the ego, depending on how emotionally stable the individual is. Sometimes a devastating blow. Therefore, anyone who thinks that the solution lies in slapping an MA on the chart or trading a different bar interval just doesn't understand what's going on. At some point one has to ask himself OK, Ace, just who the hell do you think you are? Eventually, it is to be hoped, one realizes that while he is in complete control of how to play the hand, the market is the dealer. This injects a necessary dose of humility.
 
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