Why do they do it?

This is a discussion on Why do they do it? within the General Trading Chat forums, part of the Reception category; Originally Posted by meanreversion dante, your story doesn't quite make sense, in that the chap to whom you refer had ...

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Old Feb 4, 2011, 3:10pm   #226
 
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Re: Why do they do it?

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Originally Posted by meanreversion View Post
dante, your story doesn't quite make sense, in that the chap to whom you refer had a high score and was still rolling the dice, i.e. he wasn't reducing his risk.

Or is it more that nearly all of us would look to trade conservatively with a large pot, and the swinger you mention was very unusual?
Mean,

The moral is - everyone wanted to be like him and yet he was all in at every turn. Most of us cannot do this.

He had a high score and he still had his foot to the floor.

He spent several years bulding his account. At 1200 lots, I would say a catastrophic non farms number would be career over.

I even asked him what he would do if this were to happen to him.

And he replied with a shrug: "Get a normal job".

Is that advisable psychology for making a business of this? No. But that's not my point.

The newbies dream of these outlier returns. And that is the mindset it often takes to get them.
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Old Feb 4, 2011, 3:22pm   #227
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Re: Why do they do it?

Take care of the downside, and the upside will take care of itself ... that's my favourite saying right now.
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Old Feb 4, 2011, 4:08pm   #228
 
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Re: Why do they do it?

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Originally Posted by trader_dante View Post
Mean,

The moral is - everyone wanted to be like him and yet he was all in at every turn. Most of us cannot do this.

He had a high score and he still had his foot to the floor.

He spent several years bulding his account. At 1200 lots, I would say a catastrophic non farms number would be career over.

I even asked him what he would do if this were to happen to him.

And he replied with a shrug: "Get a normal job".

Is that advisable psychology for making a business of this? No. But that's not my point.

The newbies dream of these outlier returns. And that is the mindset it often takes to get them.
The funny thing is so many people think this is admirable...

then again, maybe it is. In the ultra long run, we're all ****ed
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Old Feb 4, 2011, 4:21pm   #229
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Re: Why do they do it?

We're definitely ****ed in the UK... cable down today, copper and oil higher.

Big story for the second half of 2011 will be the collapse in commodity prices when the China housing bubble implodes.
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Old Feb 4, 2011, 4:22pm   #230
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Re: Why do they do it?

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The funny thing is so many people think this is admirable...

then again, maybe it is. In the ultra long run, we're all ****ed
Mon Dieu! Reads like Zero Hedge's strap line...
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Old Feb 4, 2011, 4:23pm   #231
 
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Re: Why do they do it?

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Big story for the second half of 2011 will be the collapse in commodity prices when the China housing bubble implodes.
Yeah... that needs a lot more attention, it's ludicrous and is going to be THE major theme in 201X

But why X has to = 1, I dunno. no real reason there can't be years left....
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Old Feb 4, 2011, 4:33pm   #232
 
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Re: Why do they do it?

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The reason Bison, despite largely trading my calls, under my tuition, outperformed me so dramatically was that when I was taking my foot off the gas pedal at £10,000 (and withdrawing my initial stake plus profit), he was going all in on every hand the market dealt him.
Well, now that Bison is a Coach/Trainer perhaps you can get some tuition from him!
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Old Feb 4, 2011, 4:36pm   #233
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Re: Why do they do it?

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We're definitely ****ed in the UK... cable down today, copper and oil higher.

Big story for the second half of 2011 will be the collapse in commodity prices when the China housing bubble implodes.
Nah, big story will be the contagion and attempted containment of uprisings in the M.East/Africa due to the continued inflated price or raw materials and commodities..all the 'fault' of The Bernank and his creationism.

The US probably think they're being 'dead clever like' by promising to fund (bribe) the Egyptian military with tens of billions to keep the status quo after dumping Mubarek, but it won't free the people who will be in a civil war for a decade+.

If the M.East wake up (and I hope they do) and the younger generations take back what's theirs then we're in for interesting times.

BTW I think this China housing bubble tipping point theory is being over cooked in the MSM, commods and raw material prices have been shooting to the moon due to the 'clever' money having nowhere else to go, has it been the biggest hedge ever?..It'll collapse under the weight of its own bu115hit, not due to lack of demand from the BRICS..
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Old Feb 4, 2011, 4:38pm   #234
 
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Re: Why do they do it?

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Hello Dionysus Toast,



The more my account grows, the less risk I take.

The funny thing is, £1,000 - £10,000 is exactly the same percentage return as £100,000 - £1,000,000.

However, I have no problem losing 10% of £10,000 in a single trade but I don't have the stomach for dropping £10,000 in one at this point in my career.
Isn't this more or less what J16 used to say, and why he was so keen to move stop to B/E?
When trading his size of account, it mattered a lot more.
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Old Feb 4, 2011, 4:40pm   #235
 
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Re: Why do they do it?

lol, soon the only regular posters will just be vendors trying to sell each other stuff!
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Old Feb 4, 2011, 4:42pm   #236
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Re: Why do they do it?

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lol, soon the only regular posters will just be vendors trying to sell each other stuff!
Good isnt it, TD's pupil is now the master...you couldn't make this 5hit up..
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Old Feb 4, 2011, 4:45pm   #237
 
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Re: Why do they do it?

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Well, now that Bison is a Coach/Trainer perhaps you can get some tuition from him!
LOL yes. Now that would really be what you call going full circle.

The question is however, can you teach someone to stomach risk?

A lot of it depends on both your attitude towards money and your situation in life.

I think many people underestimate that fact. Particularly the situational element.
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Old Feb 4, 2011, 4:46pm   #238
 
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Re: Why do they do it?

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Well, now that Bison is a Coach/Trainer perhaps you can get some tuition from him!
You can't polish a turd
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Old Feb 4, 2011, 4:47pm   #239
 
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Re: Why do they do it?

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Mon Dieu! Reads like Zero Hedge's strap line...
Thought that was "We're all ****ed, but we ain't comin' out from the hills till our ammo's all gone, includin' the bullets we made from meltin' down all our gold!"
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Old Feb 4, 2011, 4:49pm   #240
 
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Re: Why do they do it?

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Good isnt it, TD's pupil is now the master...you couldn't make this 5hit up..
He's a fast learner, I'll give him that.
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