I Discovered the Reason I Lose Money Trading.

Discussion in 'Psychology' started by GotherL, Jun 13, 2020.

  1. Tradex

    Tradex

    Make sure you return it on time, paying a library fine for your own book can be a disturbing experience :D
     
    #41     Jun 14, 2020
    murray t turtle likes this.
  2. jl1575

    jl1575

    480 books, are there really that many trading books around? Just curious.
     
    #42     Jun 14, 2020
  3. Tradex

    Tradex

    Oh yes, there are tons and tons of trading books out there, just go to Amazon (for instance) and see for yourself: https://www.amazon.com/s?k=trading+books

    A lifetime is not enough to study them all.
     
    #43     Jun 14, 2020
  4. %%
    LOL;
    good thing I have a private library + 3 public library cards. Crazy year, one library had storm damage + is giving away most of its books/undamaged.:caution::caution:, :caution::caution::caution::caution::caution::caution::caution:
     
    #44     Jun 14, 2020
  5. KCalhoun

    KCalhoun

    Interesting post, you make some good points.

    I've found daytrading scalping to be the hardest style to be consistent with.

    Swingtrading has big risk because of gaps.

    My favorite strategy is intraday swings with trailing stops, like I did with TVIX last week.
     
    #45     Jun 14, 2020
  6. Nobert

    Nobert

    Depends on the person. Me - invested only time.
    Tho the emotions were the difficult part indeed. Making oneself not go short, that's like quitting smoking. But all the worry would come, since there was zero knowledge/understandings about the fundamentals of the position.
    Everything was based just on TA and didn't worked out that well.
    Now, when situation is different, even the sl is not needed.
    You just enter, and wait, like those hunters in Amazon jungles, who sits calm for hours, on the tree branches above water, and when the big fish shows up, - they all trow javelins at the same time.

    p.s and rip the financial futures of those who spends $250 000 on studies, in universities where they charge up to $1 000 for a book.
    (Not saying that ain't gonna study myself. For the life vision to be complete, the bachelors would be needed in finances, arts, psychology, architecture and maybe economics, recently came up with this idea & got excited)
     
    Last edited: Jun 14, 2020
    #46     Jun 14, 2020
    murray t turtle likes this.
  7. %%
    LOL, Nobert ;
    shorting is not as harmful as smoking/ even though short systems seldom if ever make what long systems do.
    WATCH out for those little flesh eating fish in South America; they attack in schools + rip flesh bit by bit by bit/bloody mess they say.:caution::caution::caution::caution::caution::caution::caution::caution::caution:
     
    #47     Jun 14, 2020
    Nobert likes this.
  8. Tradex

    Tradex

    Scalping the market all day is by far THE most stressful activity. The burnout rate in this business is brutal.

    Let's be honest, we trade mainly because we want to make money without having to do any "work" (well, sort of), and scalping the market all day simply defeats that purpose.


    [​IMG]
     
    Last edited: Jun 14, 2020
    #48     Jun 14, 2020
    Math_Wiz likes this.
  9. smallfil

    smallfil

    #49     Jun 14, 2020
  10. Turveyd

    Turveyd

    Ahhh but I'm a Ninja and I've only watched a few movies, so not so sure.
     
    #50     Jun 14, 2020