Nicely edited, Bone. Why don't you fek off and preach to the converted? This thread is for 'losers', not professors of the spread-bet multi-millionairs. A hedge is a bet, period. I take a long position on chf/jpy i'm short jpy whilst simultaneously long chf. Hedged but betting directionally. In my book hedging is the worst case as I have twice the risk for half the potential gain. Hedging is all about co-location and arbitrage otherwise it's a long term mean-reversion BET. Either way you are probably wrong. Why not bugger off and stop annoying those who want some honesty and solace?
Here is an interesting article: New Study, Old News: Stock Traders Are Psychopaths http://www.forbes.com/sites/chrisbarth/2011/09/26/new-study-old-news-stock-traders-are-psychopaths/ The hubbub is just starting to pick up after NZZ Onlineâs report yesterday on a University of St. Gallen study that shows stock market traders display similarities to certified psychopaths. The study, authored by MBA students Pascal Scherrer and Thomas Noll, compares decisions made by 27 equity, derivative and forex traders in a computer simulation against an existing study of 24 psychopaths in high-security hospitals in Germany. Not only do the traders match their counterparts, but, as Der Speigel succinctly puts it, the âstockbrokersâ behavior is more reckless and manipulative than that of psychopaths.â The traders, according to Noll, were fixated on gaining more than their competitors in the computer simulation â to the extent that they âspent a lot of energy trying to damage their opponents.â He compared the behavior to bashing a neighborâs fancy car with a baseball bat in order to make your own car the nicest in the neighborhood. Weâve always known that traders â who thrive in a high stress, high adrenaline environment â are a little bit crazy; Noll and Scherrerâs findings just go further to illustrate that fact. According to a Vanderbilt University study in 2010, many psychopaths âappear to have such a strong draw to reward â to the carrot â that it overwhelms the sense of risk or concern about the stick.â A volatile market provides more opportunity for day traders than for long term investors, and many of the former are licking their chops. Today, Alessio Rastani, a stock market and forex trader in Europe, admitted as much to the BBC (full video below), in a brutally honest â and chilling â interview: âIâm a trader. I donât care about [investors' happiness and confidence]. If I see an opportunity to make money, I go with that. For most traders, we donât really care how theyâre going to fix the economy. Our job is to make money from it. Personally, Iâve been dreaming of this moment for three years. I have a confession, which is I go to bed every night and I dream of another recession. I dream of another moment like this.â If it sounds crazy â and crazy enough to be true â that just may be because it is.
Does this sounds like u Small Traders. Not only small traders, but also rogue traders, and CEO like Jon Corzine. If u are a psychopath trader, u will lose. I can almost guarantee that. <iframe width="560" height="315" src="http://www.youtube.com/embed/zfCDbD5ZnQA" frameborder="0" allowfullscreen></iframe> http://www.gamblersanonymous.org/ga/index.php
Amen, absolutely, post of the year 2012 that cannot be topped Successful trading is nothing more than a job where day after day, week after month you repeat the uber-simple steps necessary to prevail. It has nothing to do with knowing market direction, predicting market direction, guessing market direction, contests, competitions, comparisons, entertainment, adrenaline and thrills, hobby or passing time, proving oneself, finding oneself, elevating oneself or any other emotion-based human desire. All that stuff is simply 1,000 different paths to ruin. When you make trading a boring, methodical job, it will pay you like the world's most exciting profession. Therein lies the secret to success that all those who want trading to be what it is not, will not ever accept as the truth
Indeed. Got to be CENTERED. I always loved having the cleric spell "Center" casted on me in EQ as a young warrior. With it, I felt strong and calm and ready to tank. I learned a lot about trading from playing EQ (tanking, blowing up mobs as a wizzie, trading in the EC tunnel, and meeting all kinds of people (from sane to insane) from all over the world. hahaha.... trading sux if you trade alone. if you trade with a good group, it's like camping with a good group in EQ. lot's of action and loot. endless mobs, lots of danger, some near death experiences, hp bars going up and down, lots of slashing and bashing, lots of pretty fireworks from casters, piles of dead mobs, and chat screen scrolling crazy with info. BUT no wipeout. Just rock 'n roll all nite! Never knew EQ would be so educational. hahahaha......
I recently started auto day trading. But even so when no trades happen I get antsy and impatient, when the trade is profitable I feel good and when it loses I feel not-so-good. As much as I tell myself that it's only one trade of many, I still get too emotionally invested in it. I look forward to the day when, as the above posters said, it gets boring. Autotrading is helping tremendously and has taken out maybe 80% of the emotion. I guess only a long term upward equity curve will take out the rest. I'll bet there are very few of us here that do not get thrills from trading, and when thrills are gotten addictions can start.
You guys sound great. Why not get together and write a book 'The Centred Trader'. I'm sure your firms would give you time off. Be aware though you'll have some heavy competition: Showing 1 - 12 of 13,533 Results ...the number of books related to Day Trading. There's no downside to writing a book, only time wasted perhaps. But if it pays (looks like it must judging by the volume written on the subject by successful traders, then...
True that. Last few weeks I had two trading setups of buying the dip. It was boring to say the least. Buy the dip, then do nothing, then sell. Buy again the dip, then do nothing, then sell. Total profit 70 ES points but bored out of my mind. Trading is such a boring job. No stimulation at all. If you ever get this excited rollercoaster feeling you are probably gambling, real trading is the most boring thing in the world.