Professionals vs Amateurs

This is a discussion on Professionals vs Amateurs within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by foroom lluzers "Am i a wind up merchant "? Since you continue to spread misinformation, you may ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Aug 13, 2017, 7:00pm   #16
Joined Apr 2016
Quote:
Originally Posted by foroom lluzers View Post
"Am i a wind up merchant "?
Since you continue to spread misinformation, you may not be a merchant, but you are connected with them.
EnlightenedJoe is offline   Reply With Quote
Old Aug 13, 2017, 7:14pm   #17
Joined Apr 2017
Quote:
Originally Posted by EnlightenedJoe View Post
Since you continue to spread misinformation, you may not be a merchant, but you are connected with them.
NO they are the team is
foroom lluzers is offline   Reply With Quote
Old Aug 14, 2017, 6:42am   #18
NVP
 
NVP's Avatar
Joined Jun 2004
Quote:
Originally Posted by barjon View Post
I thought it was worth repeating a quote (from John Carter maybe ?) in view of all the discussion lately on 100% and all that. Here it is:

Professionals focus on limiting risk and protecting their capital. Amateurs focus on how much money they can make. Professionals always take money from amateurs.

good trading

jon
amen
NVP is offline Coach/Trainer   Reply With Quote
Old Aug 14, 2017, 7:04am   #19
Joined Apr 2017
“I think investment psychology is by far the more important element, followed by risk control, with the least important consideration being the question of where you buy and sell.” – Tom Basso
foroom lluzers is offline   Reply With Quote
Old Aug 15, 2017, 3:52pm   #20
 
Quantt's Avatar
Joined Jul 2017
I do agree the psychology is an important part, but for me the only way not to panic or make other mistakes is to have a robust trading system - by developing it and by testing it, you are becoming 100% sure in it and this is giving you the confidence and takes care of the psychological aspect, the other is automating the system, with automated system, you cannot make any mistakes (provided no bugs in the program)
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is offline   Reply With Quote
Old Aug 15, 2017, 3:56pm   #21
 
piphoe's Avatar
Joined Oct 2015
Well said Quantt!!!!!
__________________
they play so bad why do they punish me
phil hellmuth
piphoe is offline   Reply With Quote
Old Aug 15, 2017, 4:07pm   #22
Joined Apr 2017
Quote:
Originally Posted by Quantt View Post
I do agree the psychology is an important part, but for me the only way not to panic or make other mistakes is to have a robust trading system - by developing it and by testing it, you are becoming 100% sure in it and this is giving you the confidence and takes care of the psychological aspect, the other is automating the system, with automated system, you cannot make any mistakes (provided no bugs in the program)
That is what I am trading without automation.If automation has hiccups or disruptions , the lack of psychological skills will cost dearly.These will jeopardize the risk management.
foroom lluzers is offline   Reply With Quote
Old Oct 16, 2017, 1:15pm   #23
Joined Apr 2016
Quote:
Originally Posted by ChungFeng View Post
Welcome back foroom. Missed you lots.
EnlightenedJoe is offline   Reply With Quote
Old Oct 17, 2017, 9:23pm   #24
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by foroom lluzers View Post
That is what I am trading without automation.If automation has hiccups or disruptions , the lack of psychological skills will cost dearly.These will jeopardize the risk management.
From my experience, I am much more likely to make mistakes than my automated system, I can be hung over, oversleep, emergency at work, sick, on vacation, etc

The system will plug along nicely, you just need to monitor the servers and have a contingency in place...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is offline   Reply With Quote
Old Oct 18, 2017, 10:29am   #25
 
barjon's Avatar
Joined May 2003
barjon started this thread
Quote:
Originally Posted by Quantt View Post
From my experience, I am much more likely to make mistakes than my automated system, I can be hung over, oversleep, emergency at work, sick, on vacation, etc

The system will plug along nicely, you just need to monitor the servers and have a contingency in place...
Everyone’s dream that, Quantt. Just go about enjoying yourself while money pours into your account. I doubt it’s quite like that in reality, though
barjon is offline   Reply With Quote
Old Oct 18, 2017, 12:24pm   #26
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by barjon View Post
Everyone’s dream that, Quantt. Just go about enjoying yourself while money pours into your account. I doubt it’s quite like that in reality, though
Yes Sir, I wish I had an ATM in the corner of my office chugging benjamins all day long, but in real life, I have losing days, weeks, months and years - it is all automated though :-)
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is offline   Reply With Quote
Old Feb 13, 2018, 9:12pm   #27
 
3 Posts
Joined Jan 2017
Thank you for sharing information.
Gastol is offline   Reply With Quote
Old Feb 14, 2018, 5:04am   #28
Joined Feb 2018
Difference in thinking, but words "Professionals focus on limiting risk and protecting their capital. Amateurs focus on how much money they can make. Professionals always take money from amateurs." are very handy)
EddyJones is offline Broker   Reply With Quote
Old Mar 2, 2018, 10:40am   #29
 
robbens's Avatar
Joined Sep 2015
EddyJones, it's a great observation! When I was a freshman, I always thought about how to make more money, and now I think about how to reduce the risks =)
robbens is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Simple but effective short term trading setups for amateurs astraura First Steps 12 Aug 23, 2017 6:58pm
Any Professionals Here ? blueingreen Forex 6 Dec 4, 2009 9:37pm
Don't Tell The Professionals el_sell The Foyer 9 Jan 19, 2009 11:05am
Don't tell the professionals pugwash First Steps 5 Mar 17, 2008 11:59am
CFD: why do amateurs shun it? pb Spread Betting & CFDs 23 Nov 8, 2006 3:19am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)