Are You Just Trading to Make a Living?

[TraderRod]

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?

 

[Martinghoul]

Bullsh1t

 

[Pazienza]

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.

 

[TraderRod]

Bullsh1t

If that's how much you've learned from trading, then what can I say?!

 

[BeginnerJoe]

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 ?

 

[Pazienza]

If that's how much you've learned from trading, then what can I say?!

Actually, he knows a thing or two about it. Check out some of his posts.

 

[Pazienza]

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.

 

[TraderRod]

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 ?

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.

 

[BeginnerJoe]

Aren't losers traders too ?

 

[Martinghoul]

If that's how much you've learned from trading, then what can I say?!

Do you want me to respond to you seriously or do you want me to be dismissive? I can do either...

 

[BeginnerJoe]

I am loving the way the mini Dow is setting up this morning.

Like I promised. So where is my cut ?

 

[Pazienza]

Like I promised. So where is my cut ?

 

[Martinghoul]

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.

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!

 

[Pazienza]

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!

It is part of my campaign to take the war to the enemy. We have been passive for too long.

 

[Martinghoul]

It is part of my campaign to take the war to the enemy. We have been passive for too long.

Hence the emphasis... I see. Clever. I am losely with you on this.

 

[Pazienza]

LOL Excellent!

 

[wackypete2]

Thread got derailed quickly. Should have had better content to begin with.

Peter

 

[Pazienza]

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)?

 

[Martinghoul]

Sorry, I think I have caused the derailment... I did ask the OP a (somewhat) serious question and was just waiting for the response.

 

[wackypete2]

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)?

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:

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!

Peter