Would you rather Trade or Be Rich?
- Thread starter J.Joseph
- Start date
I'm glad other people can relate to what I'm talking about. So I wonder if others would find it helpful to have a trading club where the goal is not so much to talk about trading or trading strategies as it is to just encourage filling up the downtime between "duuhh" trades and reminding one another that long periods of nothing is normal and "good days will return."
If anyone starts such a trading club or "trading support group" let me know. I truly want to have a mobile income and travel the world and don't want over-trading to get in my way. I'm a really good trader and could easily have this if I could be more comfortable with long periods of the doldrums. Anyone else feel that way?
groups:1-800-GAMBLER ; Alcoholic Anonymous; etc
want, don't want, etc... suffering arises from expectations not met.
really good trader?. I don't think so, your statements reflect that, want, want, want...
could...easily...have this... Why don't you have it then?.
That'll be $300 for the profiling and psychological evaluation. I suggest a dose of reality and a conciliation of your brokerage statements to truly reflect your current reality instead of your dreams.
There are a lot of things you can do to fill the time between trading.
-> outdoor sports
-> traveling
-> gardening
-> playing X-Box
-> read a few books
-> write a book
-> become a good cook
-> do research on new trading strategies
-> increase you statstics data, just make 500 more examples....
Dont know more.....
-> outdoor sports
-> traveling
-> gardening
-> playing X-Box
-> read a few books
-> write a book
-> become a good cook
-> do research on new trading strategies
-> increase you statstics data, just make 500 more examples....
Dont know more.....
Have you play battlefield 3 yet? I hate it.. so overrated. And now it sucks cuz less people playing on BF2
No, i have no need to buy all the time a new game.
I like to play Call of Duty, all parts.
And Need for Speed.
I also like the old version of Street Fighter 2 !!!
Thats the best, i started playing it when it came out, back in the days, and i still love it.
That advice might be best given to the mirror. I don't have this yet because it takes time to grow. My current path doesn't have me breaking even $1 million until 2015. And when it happens, I would like to be able to enjoy it on 3 trades per month and tons of free time. How I trade to get there is probably how I'm going to trade when I'm there so I'm trying to change habits now and find a way to teach myself to pass on moderately appealing trades in favor of just the very appealing trades. In all honesty, I don't have many similarities to a gambler, but do I have a theory of what's really going on.
I feel that the focus on these forums is towards "how can I trade more?" There is an underlying, unspoken, belief that "it's not okay to sit out because trading is the only way to make money and sitting out makes no money." But who supports the notion that it's okay to be on the sidelines and that's a valid and important part of the game? Certainly not your broker. If it was a more talked about concept and more widely accepted practice, I think it would be much easier for many people to trade within their skill level and win. Look at brokerage advertisements, though. Don't they kind of propogate the idea of "Learn to trade any market like the pros," implying that the goal of any trader should be to be able to trade any market? Whose goals are we pursuing? Or the idea of "Open an account today and become rich before these fast predictable markets become slow and unpredictable FOREVER!!!" Ahhhh! Panic, because it will never be good again.
The sense I get is that traders speak the truth with their words and say, "Market conditions change all the time and good conditions like last month will come around again eventually," but subconsciously believe it's not okay to wait or that it won't really happen. When favorable conditions end, they panic and begin frantically looking for a new strategy to trade highly unpredictable markets.
Whether true or not, I get the sense that most posters on here just trade ALL THE TIME in any market, on any day. And if you can't do that you're just not an elite trader. It's not part of the trading culture to trade just what you're good at and be accepting of others who are just trading what they are good at. I think that culture is why many traders overtrade.
Actually just talking this through is immensely helpful. I am going to believe that trading all the time is not normal or smart and that it's a lie propogated by brokerage firms to get amateur traders to make more of their money available. With that said, I'm probably going to be taking a long break from ET's influence until I adjust how I view this whole endeavor.
Later. PM me if you also want to trade less and higher quality.
P.S. When the Dow Jones gets below 12,000 today 10/31/2011 or Tuesday, go long in that sector for a few days. Stop is at 11,940. Target is 12,400. RRR is roughly 7.
No thanks. I'm not interested in your trading opinions or advice.
Being selective is all good, waiting for the good or best low risk trades, doing so to the point of only 3 large leveraged winners per month is akin to golfing 18 in every game. Many trades that "look good" become less good with the passage of time, sometimes minutes, sometimes hours, sometimes days, or even losers straight away.
Mirror, mirror on the wall, who is the best trader of them all?.
well for an 80% certainty there is an optimal bet size as a percent of your stack.
It's important to understand the formula before you start using it.
kztd
It's important to understand the formula before you start using it.
kztd