Honestly, I view trading as gambling. I came into it thinking that it would be easy and I learned some great lessons in the process. I'm not the smartest, fastest, sharpest or most experienced of the pact, so I'm just another money-tree for some market-maker or exchange to shake. Most of the people who go into trading usually have the excess money to blow -- its like slots but a lot more personalized. Its better than a casino because you can tailor it to your personality. Don't like stocks? No problem -- trade options, futures on stocks, futures on options, options on futures, currencies, commodities. Arb, hedge and buy and sell all damn day and week -- its the best. However, when the account statement came in and I was losing money, I realized I was blowing sunshine up my own ass and decided to quit trading for awhile. I'm just not ready for it and I'm undercapitalized. If you want to get rich trading, you can just about forget it -- unless you're in a position to do something illegal like use inside info to place a bet. If you're just some Joe Schmoe behind a few flat-panels and a $99 subscription to eSignal and a new account with IB, you can have a lot of fun playing with the system. You might actually have a great start -- just enough to keep your money in the game until it bleeds out through commissions and other excess trading costs and losses. In the end, you'll end up as another statistic -- but the best part is you get to tell others that you were an active participant of modern free-economics, which is pretty cool. I just hang around the investing / trading community because there are a lot of cool people with big egos and interesting opinions -- I certainly don't hang out looking for a holy-grail anymore (there is none -- its a sophisticated system that only a very small percentage of people can truly understand -- and only after losing their asses a few times).
When I applied for my University course, 8000 applicants submitted written applications. 2000 of those were allowed to sit an entrance test and 100 were granted an interview. 50 were selected. 25 graduated and I finished second. Why would I give a shit about the 90% that fail at anything. Runningbear
I think he was being honest and he even said so. So were you. He was not politically correct, but not all people are and that's good because that's what diversity is all about. In fact, I believe that PC kills originality of expression, so I am glad he was not PC.
When I applied for my University course, 8000 appicants submitted written applications. 2000 of those were allowed to sit an entrance test and 100 were granted an interview. 50 were selected. 25 graduated and I finished second. Why would I give a shit about the 90% that fail at anything. Runningbear
aphie has pyschologically capitulated!!! The one poster who was convinced that he could never fail as long as he kept at it has thrown in the towel. Anybody else think this rough trading period is almost over? j/k aphie... you know I got mad love for ya... last falls thread where somebody googled you and found that personal photo of you in the leather jacket still cracks me up. Seriously though, what does fail mean? Lose a little money? Lose all your money? Go bankrupt? Or does that mean that they fail to support themselves by trading. That I can see as there are many factors, some external to the market, that would cause someone to leave trading. The market is many shades of grey. Personally, I am a success if my equity curve slopes upward looking at it long term. If I had to withdraw from my equity regularly, it would be pretty hard to keep it going up.
what the f**k do you care if anyone wants to make it in trading or not? You didn't. So leave the business and let those who want to attempt at a career in trading try. Don't knock down people that are trying because you lost in this game. Loser. (just my opinion)
I know, I had to reread the post bc I wasn't sure it was actually written by apex. A ,you said trading is gambling, but later in the post said you were not ready for it bc you were undercapitalized. So if you had sufficient funds, would it no longer be gambling, or is it still gambling, just with more money? You seem to have written a neat piece of software for the iber's, but from the tone of your post, it seems like you have capitulated on actually trading yourself. I am not sure, its late, maybe I misread your post, but I am use to reading your optimistic, "nothing stands in my way" attitude posts. Let's be honest, trading is HARD, and most people like easy. p.s. still no proof of that 90% I mentioned earlier. If anyone has a poll or anything to try and substantiate it, I would be most appreciative. p.p.s Runningbear.....sweet post.
Yes, 90% of anyone who trades/invests lose money.. but... of those who put in the hard work, dedication and screen time. I'd say at least half of them make some money, and the other half have the ability to make money, but lack the discipline to keep from losing it... ala break even out of those who put in the work, 10% will be sickeningly successful.