Why Trading is so Hard

Discussion in 'Psychology' started by John9999, Oct 27, 2018.

  1. sle

    sle

    For sure. Also, I think a lot of people underestimate how much patience and self confidence is required for this job. Even if you have a strategy with a long-term Sharpe of 2, it's hard to distinguish it from noise on a day to day basis.
     
    #21     Oct 28, 2018
    pikeman, Eldredge, trader99 and 2 others like this.
  2. qlai

    qlai

    I think most retail traders care about the outcome too much. They start trading to escape something. They have too much riding on the trades. Figuring out what to do, while a challenge in itself, is just the start. Doing the right thing, no matter what the outcome, is the hard part. So make it meaningless ... trade to be better ... trade to achieve mastery. Accept you may never get there but it will be worth trying anyway. Ah so easy to comprehend yet so difficult to practice.
     
    #22     Oct 28, 2018
    pikeman, dealmaker and Slartibartfast like this.
  3. dealmaker

    dealmaker

    Create space between stimulus and response, you'll be a better master of your emotions.
     
    #23     Oct 28, 2018
    JonLivingston likes this.
  4. If it were easy then who would take the other side of the trade?
     
    #24     Oct 28, 2018
    elitenapper likes this.
  5. Last edited: Oct 28, 2018
    #25     Oct 28, 2018
  6. smallfil

    smallfil

    Trading is hard because you make it hard! If you go to You Tube, you can learn to trade stocks. The good thing, it is free. You do not have to pay a mentor thousands of dollars to learn to trade. That said, there are things you must do if you expect success as a trader: 1) practice risk management or your life as a trader will be short lived, 2) have a trading log, how can you correct mistakes you are making if you have no record of it?, 3) have a trading plan, how can you get from point A to point B to point C if you do not have a map?, 4) trade with the trend, not against it, trading against the power of the big hedge funds guarantees you lose your monies, 5) have a trading edge, if you have placed 100 trades and you are losing monies despite, an 80% win rate, you have no edge! A win rate of 40% with a trading edge is far better! Trade like a casino instead, of as a gambler! Gamblers in Las Vegas casinos always lose! They do not have an edge but, the casinos do! All of the things I mentioned are available to Google or on You Tube. You can become a good trader but, it all depends on you! A lot of posters come on Elitetrader but, they are all over the place, like flies! Focus on the important stuff or you are just wasting your time and other people's time! This is JMHO, no BS, no fluff, no nothing! I am not here to sell you anything or even convince you of anything! I taught myself everything and trying to become an even better trader! You just got to keep learning and improving!
     
    #26     Oct 28, 2018
    S-Trader, elitenapper and pengwu550 like this.
  7. qlai

    qlai

    I'm not so sure. You will most likely be disappointed sooner or later. But I like that people on internet are getting more transparent.
     
    #27     Oct 28, 2018
  8. smallfil

    smallfil

    Seriously, if you want to become a good trader. There is some work involved. If you are not prepared to do some work, you will never make it! Read my entire post. You go to You Tube and Google to figure out how to do the important stuff. No one is going to spoonfeed you everything! I was more than generous to lay it all out for everyone to use! If you cannot see that value in it, keep doing what you are doing! Not here to sell you or convince you of anything!
     
    #28     Oct 28, 2018
  9. qlai

    qlai

    Lol
     
    #29     Oct 28, 2018
  10. cafeole

    cafeole

    I guess I would have to ask what lucrative profession isn't hard.
     
    #30     Oct 28, 2018
    IAS_LLC and comagnum like this.