Why Is The Obvious Not So Obvious?

This is a discussion on Why Is The Obvious Not So Obvious? within the Psychology, Risk & Money Management forums, part of the Methods category; btw..do not get me wrong..i neither like nor dislike vendors..i am just stating my opinion..after years of trading..many different markets..having ...

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Old Dec 16, 2015, 1:28am   #33
 
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Lúidín started this thread btw..do not get me wrong..i neither like nor dislike vendors..i am just stating my opinion..after years of trading..many different markets..having read many books..bought many courses..and even paid for a 4 month live trading session..and that was the worst experience..i still kick myself in the ass for been so stupid..in fact..i was the most stupid person ever..so it is not timsk

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Old Dec 16, 2015, 3:43am   #34
 
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they will still need to master the psychological aspects of trading..which is only done by live trading
Mastering the psychological aspects of trading is accomplished by developing a thoroughly-tested and consistently-profitable trading plan and trading it with discipline. After thorough study and practice, then live trading is appropriate. And all of this can be accomplished without spending a dime.

Why, as a rule, don't newcomers do any of this? Superiority bias.

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Old Dec 16, 2015, 9:52am   #35
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Originally Posted by Lúidín View Post
btw..do not get me wrong..i neither like nor dislike vendors..i am just stating my opinion..after years of trading..many different markets..having read many books..bought many courses..and even paid for a 4 month live trading session..and that was the worst experience..i still kick myself in the ass for been so stupid..in fact..i was the most stupid person ever..so it is not timsk

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If a vendor is making money from trading and is milking the markets constantly then why become a vendor ?!

Its obvious ...
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Old Dec 16, 2015, 10:05am   #36
 
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Mastering the psychological aspects of trading is accomplished by developing a thoroughly-tested and consistently-profitable trading plan and trading it with discipline. After thorough study and practice, then live trading is appropriate. And all of this can be accomplished without spending a dime.

Why, as a rule, don't newcomers do any of this? Superiority bias.

Db
I disagree Db..better be careful or we might have a poem

Can you show any stats to support your argument?

Let us look at another thread, that of Savius trading prop firm..quick summary which can be easily checked..in case i am off a little

Would be traders pay $200 to take the challenge..then rhey go on sim for a week or 2..if profitable on sim they get access to funds and can trade live..max loss allowed per day is $500..max drawdown allowed is $1,000..i think..when drawdown hit they have to take challenge again..it repeats with some changes..most of this is correct..but as said the nitty gritty can be easily checked in the thread

Savius has posted some stats..i think 28% make it thru to trading with them..but..i would say very few make it straight from go..why..simple..it is not the plan..as savius has a full plan trading and risk management plan..which i disagree with btw..it is because they have not enough live experience..for if they had..they would know that their biggest problem is emotional..not the plan..and..a mediocre plan will work if the trader has enough experience withproper risk management and emotional awareness..which is only got by live trading

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Old Dec 16, 2015, 10:54am   #37
 
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If a vendor is making money from trading and is milking the markets constantly then why become a vendor ?!

Its obvious ...
Well..one reason might be tax..for if the vendor is spreadbetting..he needs to have a main income source to avoid paying income tax on sb profits..which many will argue..but are just wasting their time

Teaching someone how to trade is an educational profession..and can be put down as your main income source

Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress

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Old Dec 16, 2015, 11:47am   #38
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Well..one reason might be tax..for if the vendor is spreadbetting..he needs to have a main income source to avoid paying income tax on sb profits..which many will argue..but are just wasting their time

Teaching someone how to trade is an educational profession..and can be put down as your main income source

Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress

Lúidín
A spread bettor vendor what could be worse ?!
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Old Dec 16, 2015, 1:00pm   #39
 
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Originally Posted by Lúidín View Post
I disagree Db..better be careful or we might have a poem

Can you show any stats to support your argument?

Let us look at another thread, that of Savius trading prop firm..quick summary which can be easily checked..in case i am off a little

Would be traders pay $200 to take the challenge..then rhey go on sim for a week or 2..if profitable on sim they get access to funds and can trade live..max loss allowed per day is $500..max drawdown allowed is $1,000..i think..when drawdown hit they have to take challenge again..it repeats with some changes..most of this is correct..but as said the nitty gritty can be easily checked in the thread

Savius has posted some stats..i think 28% make it thru to trading with them..but..i would say very few make it straight from go..why..simple..it is not the plan..as savius has a full plan trading and risk management plan..which i disagree with btw..it is because they have not enough live experience..for if they had..they would know that their biggest problem is emotional..not the plan..and..a mediocre plan will work if the trader has enough experience withproper risk management and emotional awareness..which is only got by live trading

Lúidín
Whether or not Savius has a plan is irrelevant, even if it is thoroughly tested and consistently profitable. No one is going to trade someone else's plan with confidence. If they trade it at all, they will do so at least somewhat fearfully. Trading it "live" will not assuage that fear. This can be seen by reading the various threads, particularly journals, here and elsewhere.

If you're interested in this subject, you may want to read the article I wrote for T2W.

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Old Dec 16, 2015, 1:05pm   #40
 
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Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress
Some people, as they near the end of their lives, feel compelled to share what they have learned in the hope that others might benefit. I was such a beneficiary, and my book is an attempt to "pay it forward". Those who feel that my time is worthless and don't want to pay the 35 bucks can get the same information for free by reading my posts, beginning with 1998. Their choice.

Done here.

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