Discussion in 'Psychology' started by Buy1Sell2, Dec 27, 2006.
I do agree with the fact 90% will lose. But I think alot of those traders make their OWN decision as to when to buy or when to sell...I could be wrong about this though. jim
I assume majority of retail would buy/sell when momentum builds up, jumping on a bandwagon, which is fine I suppose, but one has to consider price oscillations and majority don't.
I agree with you. The trader is 100% responsible for all trades.
But nonetheless the markets are still geared to take his/her money away.
The question of whether or not markets are manipulated is not germane to this discussion. Even in a market that would be manipulated, it would still be the trader themselves making position sizing and stop loss decisions--not the market.
What if the market will only go down when you buy it, and won't stop going down until you sell it? That would be quite germane to the discussion, no?
This applies to anything - only you can defeat yourself as it relates to everything in life.
But, the majority of people don't want to believe it - and they will always argue.
They do not want to accept that they - and they alone - are responsible for their success or failure. And a happy life or a miserable existence.
A trader can trace his/her loses back to the trader's own incompetence. That is true, it will still be true if we where talking about basketball instead of trading, but to have a similar stage in basketball you'll have to allow any rookie that feels like learning the game to join the NBA and play with the pros [given that he pays the right price]... even more, he'll only be able to learn how to play basketball by playing at the NBA. Chances are that rookie is going to get his ass kicked "n" times before he either quits or becomes one great basketball player, and starts kicking ass himself. Same happens with traders... most people lose money to the market because they have to go against the pros from the start, is the only way to learn.
I have a +2 Longsword against the Undead with an Agility Bonus so I will beat the market!
Agility?? You mean Dexterity!
Agility is so late 80's
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