How long did it take you to realize that you were a gambler?

Discussion in 'Psychology' started by ElectricSavant, Sep 20, 2020.

How long did it take you to realize that you were a gambler?

  1. 1y-3Y

    5 vote(s)
    10.9%
  2. 3y-5y

    1 vote(s)
    2.2%
  3. 5y-8y

    2 vote(s)
    4.3%
  4. 9y

    0 vote(s)
    0.0%
  5. 10y

    2 vote(s)
    4.3%
  6. Decades

    2 vote(s)
    4.3%
  7. I am not a gambler

    25 vote(s)
    54.3%
  8. ElectricSavant is a loser

    9 vote(s)
    19.6%
  1. themickey

    themickey

    Yes, I created a new system a year or so ago, it started off rocky, nearly gave up on it but persevered.
    I'm still suffering some consequences of (a) initial lousy trades which today don't meet the citeria but I still hold as their position sizes are small (b) still ironing out bugs in my approach due to it is radically different to how I've ever traded before.
    Saying that, returns are so much greater than previously so that makes it easier to live with the flaws of riding on new trainer wheels.
     
    #31     Sep 21, 2020
  2. It's a process. You get what you get when you get it, if ever.

    I recall one famous old-timer retiring and saying, "I traded the markets for 50 years and never really "figured it out".)
     
    #32     Sep 21, 2020
  3. themickey

    themickey

    Back to gambling, even throwing all your old system away, no more Amibroker, no more Norgate data, no longer using previous computers, operating systems, software - all changed.
    Total about face on my previous trading beliefs.
    That in itself is a gamble imo.
    Initially a year or so ago discovered by accident.
     
    #33     Sep 21, 2020
  4. You can partially figure it out... net wins > net losses, which you seem to be doing now. But it's possible to get much better still.

    I can tell you want to get better (who wouldn't?)....

    So in case you're not focusing in the right place, I'll say again as I've said before...

    The beginning place is to .....

    Buy Support
    Sell Resistance
    Chase Breakouts
    Trade With Stops

    I'm willing to advise traders "where to fish", but I'm not going to bait their hook and cast their line for them. The above is "where to fish".

    Good Luck!
     
    Last edited: Sep 21, 2020
    #34     Sep 21, 2020
    Amatrue likes this.
  5. I woke up one late afternoon and realized I was out of Sterno. I had hit rock bottom. I realized the truth was staring me in the face: I was a degenerate gambler who lost everything. There was a choice to be made. Trading or Sterno. I no longer trade.
     
    #35     Sep 21, 2020
  6. themickey

    themickey

    I do none of that.
    No charts, no levels, lines or indicators, no conventional TA, no volatility info, no volume bars, rarely chase breakouts. Very little fundamentals.
    No charting package, not subscribed to data (anymore).
    Just trading off streaming data and databases.
     
    #36     Sep 21, 2020
  7. QTrader20

    QTrader20

    When a trader keeps saying "Fxxk", throw a mouse or bang a table each time a trade turns red, we know he is an amateur trader (a.k.a. a gambler.) I've seen those in a trading room with my own eyes.
     
    #37     Sep 21, 2020
    stochastix likes this.
  8. No wonder you appear to be struggling at times. Wise UP! It's all "in the charts"... what players are doing with their money... buying/selling.
     
    #38     Sep 21, 2020
  9. themickey

    themickey

    Struggling? Where'd that come from?
     
    #39     Sep 21, 2020
  10. themickey

    themickey

    This is struggling.
    images.jpeg
    Lemming world.
     
    #40     Sep 21, 2020