Who are the real Traders here.

Discussion in 'Psychology' started by fearless9, Apr 22, 2008.

  1. The following quote came from a thread that has been consigned to chit chat.
    I think that many people here at ET are too afraid to become Traders but they have fallen in love with an erroneous image of themselves and they are trapped.
    Too afraid to move forwards, too afraid to retreat and seek and better path for their life.
    Anyway, here is the quote........

    Quote from Drew07:
    "Wouldn't it be funny if all of these people who we think of as being knowledgable and wise about trading were complete hacks and couldn't trade their way out of a wet paper bag."

    As one Username who appears to have made the cut here in the thread from which this quote was plucked, I completely agree with you Drew and I am including myself in your comments.

    Now, how can you tell a Trader from a Chartist or an Analyst.

    That is a question that any shrewd Trader can probably answer, but remains elusive to the others.

    If you want to know how to trade futures, then try this.....

    Take one instrument and study it only in real time. Find yourself a singular perspective on it and allow this perspective to absorb into your DNA so that both you and the price become the same thing.
    Do not try to take a little of the best from here and a little of the best from there, as you will wind up with the worst of everything.
    Do not study the price in retro at the end of the day as you will become a chartist and not a Trader.
    Be aware that every time you take a real trade at a realistic tic, you will be in the company of some of the big Traders and you will at the same time, be against other big Traders.
    Your fellow travelers from ET will be few, very few and their total contracts will be like yours ... of no real significance.
    Do not let big Players deter you from your fortune.
    Always remember that "impossible" is a word from the other guys vocabulary, not yours.

    Traders are dynamic people who follow price in real time and act spontaneously.
    If you cannot do this then do not call yourself a Trader as self deception will eat away at you, bit by bit by bit.

  2. chartists, anal-ysts, and price action watchers are all traders... who cares who the real traders are or aren't .. why do you care who is real and who isn't? Even if someone is a real trader here on ET.. how do you know they are telling you the truth.. you get what you pay for and since this is a free forum.. be wary of what advice you get or wht calls are made; however, if you sift through a lot of the BS .. I have actually found some pretty good insight and "market knowledge" so I am not saying that ET is not a great resource. Like all things in life, so nto believe everything you read or see on TV..

  3. jt,
    You are dead wrong.

  4. LOL, I see a vision of f9 preaching to the animals in the wilderness ... :)

    LOLOL some more. They're never gonna listen to you, why should they, it makes too much sense ... and if you start talking about risk & money management, they're going to ban you from the site. :p
  5. interesting.. how I use technicals all the time and it works for me
    I do not have the resources or the staff to run fundamental numbers. However, I do believe longer term charts include what the market thinks.. OTHERWISE why would so many funds want to "hide" their actions.. duh its because they do show up on the charts.
  6. It is hard to know who the real traders are, since a knowledge of trading does not necessarily lead to good trading. I am not concerned with other traders; rather, I focus on what I can do better--and there is always something.

    Making one side of the brain do what the other side tells it to do is harder than it looks.
  7. I completely agree with you SS

  8. cd23


    See attached.
  9. In a nutshell cd23, in a nut shell.
    The price and the Trader are one, seamless as you might say.


    "A really good trader knows the division of responsibility with the market which is his partner. Neither party oversteps the bounds of this division. The market dictates and the trader extracts what is offered. There is no competition for really good traders. What is there, however, is the trader knowing that he knows. Market information is not spread among traders equally so the trader has to know and use a strategy that compensates for this inequality. A really good trader can layout how this is done and exactly how and where he fits into the hierarchy of all traders and trading. This is the really good trader’s choice and, as an obligation, he empowers himself be paying attention to the EXTENT to which he must know to be able to partner with the market."
  10. Most traders try to design complexity into their system to compensate for all of the variables which exist in the markets.

    This is incorrect. The trader should make his/her system as simple as possible, this way they can focus their attention on managing the most difficult part of the trading equation.

    #10     Apr 22, 2008