Why so many beginners get into daytrading, with sky-high expectations?

Discussion in 'Professional Trading' started by crgarcia, Aug 4, 2008.

  1. If you don't have natural skill you might as well put your money in an index fund and go somewhere else with your time.

    It takes crucial management, wisdom, discipline, intelligence, and power over your emotions and instincts. If you learned some of these over time, I congratulate you, but you need at the very least one of these attributes naturally (wisdom and discipline probably). I'm a step down in intelligence (I'm a bit of a slow learner, but I get things down eventually), but I make up for it in all the other qualities, especially wisdom.

    I was made for these markets.

    I am confident and perhaps cocky, but my thinking is always level-headed. Power over the self.
     
    #21     Aug 8, 2008
  2. So whoever did this trade got one wrong. Is there actually a point here?
     
    #22     Aug 11, 2008
  3. I'd add that it's a particularly foolish trade for someone who claims to be able to make 3X daily range. And this time he has no one to blame but himself (like when backtests show his "methods" are broken, he tries to blame the backtester). Plus the way he talks about the trade in the mp3 file says a lot.
     
    #23     Aug 11, 2008