"That's called gambling, and he's an addict." True. But gee whiz, calling someone an addict may ruin his self esteem. A "disease" offers hope, "someday" he'll be "cured". Hi, my name is Bob, (Group) "Hi Bob" "I'm a pathological liar." (hush in crowd) (Doctor) "Bob, has a trading disease" Stay tuned.... for more of "As the Market Turns" do do do do (great music huh)
I have read Market Wizards a couple of times and some of those guys were in huge trouble before they made it back. Perhaps someone could write a book about guys who just blew it and never came back...Market blowups...The New Market Blowups...and so forth... It would be a depressing read but an eye opening as well to many people. Is there such book?
If you are true to urself. Gambler, Chinese, whatever On some level we have all been there. At least I have. We have a gambler in the family and I don't see that much difference between us.
If you haven't blown out an account yet, you are a) very lucky, b) too conservative to get anywhere, c) or a newbie.
never trade with borrowed money. save your own money that you can afford to lose, then trade with that. i dont understand why someone would take a loan to trade.
================= Brazilwonder; I wonder if you remember those top traders used much wiser money management [traded smaller] after they got in ''huge trouble'' Yes something like that,guys /girls who'' blew it'', but then traded smaller[ smarter/better] money management] WHEN SUPERTRADERS MEET KRYPTONITE BOOK by Art Collins And great double bottom buy chart mr moderator; maybe HIS TIMING WAS OFF A BIT,''bro'' tried that but ignored bear trend in a bear market I prayed for one thing-That when i liquidated everything i wouldn't owe my firm money''Teresa Lo, at a ''low '' point but still taking personal responsibility.WHEN SUPERTRADERS MEET KRYPTONITE./book quote Thats a WONDRFUL difference.
I've been in this business 20 years and the TRUTH of the matter is you never know. When you play with sharks you eventually get bitten. I've seen guys that have never been successful make some $ only to give it back I've seen guys that had good runs for a few years only to give it all back. I've seen guys that have had great runs for 10 yrs only to give it back. When you play with fire you can only get burned. So what's the answer ? Why do this business at all? The secret is to take your chips off the table and bank them somewhere else will you are having the good run. Heed my words...