It sucks to know that you would be 2K-3K more profitable if it wasn't for those @%&*@ ticket charges. I do about 200K sh/month and pay about $4000 for it. For someone not doing any real size I feel I do very well, about $6000G/mo and deserve more of the proceeds. Tell me, is my broker being greedy ? I am beginning to think that he's on the broker side of the business because his greed was too much to handle as a trader.
"But I love this game too much so I borrowed another 10,000 grand and my equity is past where I began"... 10,000 grand... wow, I could use a cool $10 million as well. Who's your lender?? Can you get them to wire another 10 mil to: www.party-on-with-green-dog.com Thanks, dog
The abiilty to succeed at trading, assuming you have the passion for it, boils to down to the 3C's: Confidence Capital (Financial) Cushion If ANY of these are missing, the whole game changes, and trading becomes a much more difficult endeavor. (Especially if you have responsibilities to other things, ie. Mtg, Wife, Child, etc) Trading is one thing, where trying too hard, is often a recipe for disaster. Good luck to you, whatever path you choose.
Quote from the caracal: The abiilty to succeed at trading, assuming you have the passion for it, boils to down to the 3C's: Confidence Capital (Financial) Cushion If ANY of these are missing, the whole game changes, and trading becomes a much more difficult endeavor. (Especially if you have responsibilities to other things, ie. Mtg, Wife, Child, etc) Trading is one thing, where trying too hard, is often a recipe for disaster AMENNNNNNN
I chose this path about three months ago. Little by little I noticed that it's far better not to draw attention upon oneself. That gives me much more freedom of action and thought, and that's basically what I need to take the right course of action when it's warranted.
I have heard this a lot of times and I myself tried to find an edge on sample sizes. Yet that remains a vague concept to me because I cannot see the usefulness of an "edge" without the proper execution. And proper execution cannot be learnt intellectually, it is an existential experience.
I see your point. I don't think that there is manipulation in the markets. However I do believe that there are deep pocket guys who as a result are not subject to the mental pressure most traders are. I indeed caught myself sometimes liquidating a position and suddenly the hunch that the market was about to reverse came to my mind because I was doing exactly what those big guys wanted me to. I could just "feel" they were taking the other side more than willingly and with great pleasure. P.S.: I could not help myself and I have to say it: you deep pocket guys are real bastards! (Please do not take this as an offense.)
Even the great Jesse Livermore has suffered the ruin. The problem is to be to analyse why. Perharps as most people who lost you were undercapitalised or trades over your financial capacity : you are vulnerable emotionally in that case. I think that novices are overconfident when they begin. They heard that's it's just a question of emotions. it's a question of risk control, emotion is a consequence rather than a cause: if you don't know how to control risk, in fact if you take a trade without asking yourself how much you can risk on this trade, then emotion has nothing to do with it.