Sucker plays

Discussion in 'Trading' started by Sucker, Oct 20, 2002.

  1. Sucker



    I am a sucker and I fit in the 90% category who constantly loses their money to the other 10%.

    I would like to know who you are, the 10%, and why you are taking my money. Are you willing to tell me?:mad:

  2. mdmbud


    learn to control your emotions. Most positions turn profitable, its just the timing one is faced with hat causes issues. Also, keep expectations small, until you obtain consistent results. Then push expectations out slowly.
  3. If they told you who they are and why they do it, they might not get your money anymore. Sounds like a losing proposition for them.
  4. Sucker


    :p Let's see how much "truths" we can draw from them.
  5. my bet is you havent invested as much sweat and blood as they have.
  6. Sucker


    Do you mean all of them were suckers for a long time, just like me? :)
  7. No, just until they began reading this website. :)

    Or, was that after...
  8. - goes for singles, not homeruns
    - exits positions without even thinking about it when they don't go my way
    - doesn't trade just for the sake of trading
    - does not take positions if they don't fully meet my criteria
    - does not get attached to the stocks I trade so it will be easier to close them out should they move against me
    - is equally skilled and willing to go either short or long depending on the day and the day's market conditions
    - never lets profitable positions turn into losing ones
    - never trades against the stock's trend

    at least, I *try* to be that person. :)
  9. Tomorrow I may ask my best friend to punch me in the face and give me a bloody nose. If I get punched in the face enough times, I will learn to deal with the pain and suck it up like a man.

    The reason the statistics are at 90% is probably because 10% have stuck around long enough to learn and adapt.

    If you get punched in the face enough times, you'll soon learn how to dodge a flying fist.

    Tomorrow I will probably get sucker punched yet again by the market. However, I'm going to keep at this until I can deal with my own emotions.

    I'd say emotions are #1 for losing money. I am re-reading Douglas' book and I must say that I'm now starting to understand some of this psychology. I need to learn that I am capable of pulling money out of the market. (I am certainly capable of giving the market my money -- well beyond commissions -- so that is emotions for you).

    Just find a nice solid brick wall and smack your head against it until it hurts too much to do it again -- that's what I'm doing with the market right now.
  10. Sucker



    Then you have a plan, and you trade your plan...
    #10     Oct 20, 2002