“Don’t care money” seems to me to be a useful concept for retail traders learning to trade.

Discussion in 'Trading' started by Blitzjoker, Aug 1, 2023.

  1. Hello Blitzjoker,

    I tell you a quick story how "Don't care money" does have an advantage in trading.

    About 4 years ago, I told a friend of mine about ES futures trading. This friend had a lot of don't care money and did not mind losing.

    He knew nothing about ES trading or trading at all.

    He asked what is the max contracts he can trade, I think I told him like 50 contracts.

    He deposited $50,000 in the broker, and said tell me when to enter and he wanted to win.

    I guess an entry on the chart. He bought, and held the position for a few minutes and made about $4500. Then we went out to eat and party. I ask him was he scared about losing the money.

    His exact words was, "You can not have fun if worry about losing too much"
     
    #11     Aug 1, 2023
    beginner66 likes this.
  2. VEGASDESERT

    VEGASDESERT

    my guess is he ended up paying 4500.00 for that food and drink after all, and then some more.
     
    #12     Aug 1, 2023
    murray t turtle and SimpleMeLike like this.
  3. Hello Buy1Sell2,

    LMFAO HAHAHHAHAHAHAHAHAAH, you are 100% correct!!!!!!

    That is funny. I thought the same too, just did not want to say anything and cause a debate.
     
    #13     Aug 1, 2023
    beginner66, Buy1Sell2 and VEGASDESERT like this.
  4. Hello VEGASDESERT,

    lol, I forgot but it wasn't that much.

    Interestingly, I ask him what he thinks about trading the ES in his spare time.

    His exact words was "Man, Fuck that ES trading shit, I won based on luck, that trading shit is gambling because its not guaranteed you will make money, I do not invest in anything that is not guaranteed to win"

    His exact words.
     
    #14     Aug 1, 2023
    beginner66 likes this.
  5. VEGASDESERT

    VEGASDESERT

    He did not catch the bug, good for him! lol.
     
    #15     Aug 1, 2023
    beginner66 and SimpleMeLike like this.
  6. LOL, he did not catch the bug, and walked away easily.
     
    #16     Aug 1, 2023
  7. hilmy83

    hilmy83

    I think if you have a friend like that, listen to EVERYTHING he has to say. That is a wise friend.
     
    #17     Aug 1, 2023
    beginner66 and SimpleMeLike like this.
  8. Hello hilmy83,

    Agree. He is wise.

    You are very wise man as well. You have good posts
     
    #18     Aug 1, 2023
    hilmy83 likes this.
  9. SunTrader

    SunTrader

    :thumbsup:
    It is sensible. Ignore anyone who says otherwise.
     
    #19     Aug 1, 2023
  10. Hello Blitzjoker,

    You are doing it right, start small and EARN the right to increase position size.
     
    #20     Aug 1, 2023