Difference between amateurs and professionals

This is a discussion on Difference between amateurs and professionals within the First Steps forums, part of the Reception category; Originally Posted by EnlightenedJoe That's not explaining. That's putting words in Jim Roger's mouth. “Never act upon wishful thinking. Act ...

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Old Jul 22, 2017, 6:47pm   #33
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Originally Posted by EnlightenedJoe View Post
That's not explaining. That's putting words in Jim Roger's mouth.
“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.” Never trader your emotions

A wish is a desire , desire is an emotion.

I don't expect you to understand this in the first steps.
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Old Jul 22, 2017, 6:51pm   #34
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Originally Posted by EnlightenedJoe View Post

Nor is it useful to over-sit a profit, and there's no need. There's plenty more where that came from
http://www.trade2win.com/boards/psyc...n-trading.html

The economist was showing facts and statistical data , he was incorrectly calling others idiots.He should have explained loss aversion theory.
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Old Jul 22, 2017, 6:51pm   #35
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“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.” Never trader your emotions

A wish is a desire , desire is an emotion.

I don't expect you to understand this in the first steps.
Jim Rogers was saying don't go with the crowd because they are emotional. Therefore lack of emotion is the way to win.

How did you manage to translate that into psychology is the way to win ?
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Old Jul 22, 2017, 6:54pm   #36
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Jim Rogers was saying don't go with the crowd because they are emotional. Therefore lack of emotion is the way to win.

How did you manage to translate that into psychology is the way to win ?
The crowds are not emotional , the trader is emotional if he follows the crowd.

Never trader your emotions
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Old Jul 22, 2017, 6:56pm   #37
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Originally Posted by foroom lluzers View Post
http://www.trade2win.com/boards/psyc...n-trading.html

The economist was showing facts and statistical data , he was incorrectly calling others idiots.He should have explained loss aversion theory.
The economist was an idiot to believe past data can predict the future.

Haven't the bucketshops drummed it into your head that past performance is no guide on the future performance ? They do that for good reasons.
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Old Jul 22, 2017, 7:00pm   #38
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The crowds are not emotional , the trader is emotional if he follows the crowd.

Never trader your emotions
Yes trading needs no emotions and no psychology. Both of these will cause you to lose.
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Old Jul 22, 2017, 7:06pm   #39
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Yes trading needs no emotions and no psychology. Both of these will cause you to lose.
So if you are a professional in the 5% club (on rebates etc ) ,you would want to hide the "emotions and psychology "from the new trader , so they can lose and you can win.
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Old Jul 22, 2017, 7:40pm   #40
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So if you are a professional in the 5% club (on rebates etc ) ,you would want to hide the "emotions and psychology "from the new trader , so they can lose and you can win.
Don't know any pros at the moment. The only one I did know and worked for was a loser.

Trading doesn't involve psychology. Why would I hide it ? Trading is about economics and merchant business.

When I win, the money comes from the bucketshop. What I do has no connection to any new traders or old traders.

The reason I am in this thread is because I am curious why you are peddling psychology, something that will cause people to lose money.
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