Was still able to extract some profit from the unexpected fall in the market on Thursday before it closed today. So I am happy or "excited" as someone else on here would say.
In its essence, there really isn't much a price can do. It either moves up or down. You just have to predict which has a greater probability.
If you feel trading is boring, then you are not talented. For a talented trader,trading is an endless improvement,endless new discovery and new creation, which are never boring. You try to build a strategy and you think and think. You fugure out everything for your strategy then you perform it everyday and you stop thinking. That is why you feel boring because you stop thinking. But a talented trader never stop thinking so he find new improvement and new discovery.
Right. Part of what keeps trading exciting is to constantly Test new ideas, to try and make more money... Example: I had been daytrading sequences of entries with small 200-share trades spaced .2 apart with .12 trailing stops. Last week I did better with larger 300-400 share sequences spaced .1 apart, with .06 trailing stops. Constantly testing new ideas for improved PnL is essential for success.... never gets boring. Next week I'll test even larger size, eg 500-share blocks, with tighter stops etc... it never ends
Gambling is exciting but often unprofitable. Those that overtrade are in it for the rush of adrenaline. True trading success often is less exciting. A key skill is to plan, put the plan in action, then wait. It's a skill that requires experience and patience and a trust in your judgement. I've mastered this to some degree but not fully. The market is great at making the best moves look done early. Being well capitalized makes a difference it allows you to let things develop. Easier to forget bad trades when you don't need the money and can recoup mistakes over time. While trading may be exciting or boring at times, I suspect those that are over excited about trading are either young/new or over trading. But whatever works for every trader is all that matters. When it comes to performance, so many exaggerate what they make so it's easy to think I have to push my trades to make more money. Never do that. Steady success with some risk management you'll outperform most traders over a 5-10 year time period. Day traders using leverage and large positions I'll admit it's a different world and some are very good at it. I'm not referring to that world although I have seen some of it in action on one job.
Market action in every day is a different problem to solve. If Suntrader is able to profit from daytrading it and finds it enjoyable why would you so bluntly call him and addict in such a negative tone.
I never meant to call Suntrader personally an addict, just what he said reminded me of what addicts often say, plus i did add a smiley to my post to make the tone less negative.
Not true. Yes, there are a 1001 ways to trade, but you just be to be a master of 1. Anyways for "talent", I think its a common misconception that an individual has some gods gift and 100% knows everything from the start. I believe some has more predisposition to be a better trader, they have traits like analytical thinking, discipline, patience and emotional control. But that alone doesn't mean they are a winning trader. It's through countless hours of work put in before it bears fruit. Anyone who you see who is successful, be it an athlete, musician or even a businessman, and who someone assumes has pure talent actually puts a lot of hours of work behind the scenes.
Trading a couple of hours every day and quitting with a $ 5k profit is enough for seasoned traders. Neither boring nor exciting!