Are You Just Trading to Make a Living?

T

TraderRod

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It is absolutely amazing when I hear traders with years of trading experience are just happy to make a living out of day-trading!

Do you not belong to the group of people who went to this field in order to become extremely rich out of it in the first place?

Also, the following link discusses this topic as well...

http://cfd-traders.blogspot.com/2011/07/be-killer-trader.html

...let's hear your comments if you will?
 
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I look at it a little differently I suppose. I find thinking about money a distraction, so I try to focus on trading and see money as a by-product of that.

So I concentrate on trying to be right (which I define as following my plan), rather than trying to make money, because the reward for being right is to make money, just as the penalty for being wrong is to lose money.

I pinched that last bit, by the way.
 
Traders usually lose money, 95%+ of them. So they are extremely poor. You want to join them too ? Why not just give me your money now ?
 
Thinking about making money can also be actively harmful, especially for the less experienced. The focus should really be less on how much you can make and more on how much you could loose. Keeps you focussed and out of the crappy face-palm trades.

EDIT:

I am loving the way the mini Dow is setting up this morning. :)
 
BeginnerJoe said:
Traders usually lose money, 95%+ of them. So they are extremely poor. You want to join them too ? Why not just give me your money now ?
Click to expand...

This thread is not about traders who lose money, read it again and save yourself some time by not posting! Not interested in losers' views not on this thread tho.
 
Pazienza said:
Thinking about making money can also be actively harmful, especially for the less experienced. The focus should really be less on how much you can make and more on how much you could loose. Keeps you focussed and out of the crappy face-palm trades.

EDIT:

I am loving the way the mini Dow is setting up this morning. :)
Click to expand...
It's "loose" again, innit? Haven't we had a whole thread about how loose the erroneous use of "loose" in lieu of "lose" makes you look?

Goddammit, nobody is above grammar!!! Not even the King of Rome!

:)
 
Martinghoul said:
It's "loose" again, innit? Haven't we had a whole thread about how loose the erroneous use of "loose" in lieu of "lose" makes you look?

Goddammit, nobody is above grammar!!! Not even the King of Rome!

:)
Click to expand...

It is part of my campaign to take the war to the enemy. We have been passive for too long. :)
 
Don't blame me, I posted several things in answer to the OP that directly addressed his premise. Anyway, it's not that far off the tracks. Why don't you chime in with your take (or has MG said all there is to say on the matter)?
 
Sorry, I think I have caused the derailment... I did ask the OP a (somewhat) serious question and was just waiting for the response.
 
Pazienza said:
Don't blame me, I posted several things in answer to the OP that directly addressed his premise. Anyway, it's not that far off the tracks. Why don't you chime in with your take (or has MG said all there is to say on the matter)?
Click to expand...

I agree with Martinghoul's first post. Not much more to say. Sounds more like a windup thread.

This quote from the blog is laughable:
blog said:
What made me write this article was I was chatting to a derivative trader last week who had made a fair amount of money a few years ago and had decided to cut down on his trading size and take things easy and become a Steady Eddie instead of going full throttle ahead and take on the big guys single-handedly!
Click to expand...

Peter
 
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