I would rather play craps at the casinos fulltime than trade. Nice work thetraderprofit. FWIW, I think you are doing it right.
"No compulsive gambler has a gambling problem, they just have a MONEY problem" I actually stole this from a Gambler's Anonymous brochure. That statement is one of the things most often said by compulsive gamblers who are in denial. I think it's funny. By the way, I was bitching at the BJ table about my gambling losses and the pit boss threw a brochure at me and "Gertsman" called, "When the Fun Stops."
I really think that's all fl_trader001 is doing here: he's offering a brochure to suggest to those who are consistently losing that there's a point at which you have to stop and look at whether it's worth it anymore, or at least to take a break from the game to examine why they're losing, before they wipe their accounts out entirely. He isn't saying no one can succeed or that no one should keep trying. Athletes shouldn't be discouraged from trying for the Olympics, but most people have no chance of ever making it to the Olympics, and not everyone should dream that they will end up in the Olympics if only they never give up.
There's one diff bet trading and the Olympics analogy. Unless you make gold in a marketable sport, your Olympics experience will remain a character building lesson. Its alot easier to get paid trading than making it to the Olympics or pro golf or major league baseball. Its easier to get paid in trading than starting almost any other 'real' business. A trader can start to 'get it' after 6 months. In what sport can you start to get a payout after 6 months of practice? I've looked at an annotated chart of one guy who was trading for a few years and was still losing. (Amazing how few of the long term losers are even able to post an annotated chart of their trades. However this person could post a trade log which is good.) The chart had pure newbie mistakes, yet he had been trading for some time?!? I didn't like the trades at all and I didn't like his analysis of his losing trades. Unless you have a good theory about what trading is, your skill and experience will reinforce the wrong behavior. In such a case, effort will actually lead you further away from the goal. Trading is a noisy decision domain- meaning you can get payouts for making incorrect decisions. Most people think that practice = success. In trading, experience, practice and effort can make you a better loser, unless you have a correct theory of market action by which to interpret your experience.
You mean "you'll wish you did even more than you wished it to begin with". There ought to be a less painful and easier means available for those who do genuinely wish to end their existence.
Funny, but, like scary too. Anyway, here's a motivational piece about fulfiling dreams. Also I think that the initial point about the effect of commissions on the odds of success kind of got lost. The net of your winning trades has to pay for commissions, loosing trades, slippage plus all the costs to run the operation as well - rent, software/datafeed bla bla. When you factor theese things in it is clear that your "business idea"/ edge really needs to be valid. It is easy to just look at the "pure" strategy bit and forget the totallity.
Joe... Where might I get the motivational checklist on: Fullfilling your Wildest Fantasies with the Prettiest Women in the World? Or is it sold out? Thnx. I
That was a great laugh, playing cards and the pit boss giving us a Gamblers Help brochure with the title "When the fun stops." If I can remember a few of the lines in there. You know you have a problem, if you gambling with money you can't afford to lose, if you are constantly borrowing money from others to gamble, finding yourself playing slots in Vons grocery stores. Well that one I made up, but they should add it in there. Gertsman