Article Demons on our Shoulders

BernardWG

Newbie
4 0
Quite true Jerry. One issue for any trader ... exercise your body ! The bird is good practise. Traders sit too long behind these pc's, not only because they have positions, but because trading controls your mind. The more distant you can get from any position keeps you in control of your mind. The more you get into the position (or charts) the more it controls you. I know, traded bund, dax, bonds and S&P from early 07:00 to 22:00. Watch it guys, you do not have to and still make a nice living. It's a nice game and keep it that way. Otherwise your a wrack or get a heart attack or something. Take care.
 

Jerry Olson

Well-known member
361 7
Thanks to all that took the time to read this article

it's all a true story

i wish you all the very best that life has to offer

if i can help you trade a bit better i'll be happy to answer all questions about anything

let's make some money.................................................... :cheesy:
 

tradewinds

Member
67 6
I think this is an ok article. Of course all these things are true what he says. However with a good trading plan and only trading perhaps 3 trades aday then no one has to spend 12 hours at a screen. My trading involves about a 10 minute set up and maybe 2hours until the position is closed.
 

tradewinds

Member
67 6
tradewinds said:
I think this is an ok article. Of course all these things are true what he says. However with a good trading plan and only trading perhaps 3 trades aday then no one has to spend 12 hours at a screen. My trading involves about a 10 minute set up and maybe 2hours until the position is closed.
I would like to add that it is very true. My reason I got into trading ws cos I was sick of being broke and I wanted to make some "easy money". It was about 3 months in I realised that it wasnt the case. Now I ve really love what I m doing and its been a great ecperience. Now I am just thinking about going at it in more of a full time basis but not for at least another year. I think I ve worked pretty hard on the study front and just sitting watching price action on charts for hours. Also experiementing with all the indicators,and reading through all the information you find,looking at the psychology of it all,the money management and much more. Also believing and keeping going when you read the statistics and hear people saying 90percent lose money.
AFter months and months and months of hard study,work,frustrations,hopes you realise that there are no shortcuts to be had. I am happy its like that actaully. Thats what makes it all so rewarding in the end.
Bfore making aliving at you DO NEED a business plan detailing everything in black and white. good luck everyone. My best advice I can give is, statiscally prove your system in forward time,in a live environment. Be detached,and mechanical,give urself an edge,be creative and experiment with trial and error. Its good to know what doesn t work. Try to specialise. Combine fundamentals with technicals,and statistics. If you think you have a system with an edge,go beyond techical analysis. Go and investigate the reasons that is causing the techicals. Just something simple like why do the big moves happen at certain times of the day. Find the reasons for the moves. Don t let ur system be a black box,cos if you dont know the reason why it works then you cantadapt it,know why it doesn t work,analyse any weaknesses in it. Also if you know the reasons and fundatmentals behind the technicals it gives you sound reason and logic behind why it works,which brings confidence in use. Lastly visualise and ur trades and evry possible outcome. Never let urself be comprimised by anything the market throws at you.
 
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Pat494

Legendary member
14,332 1,497
You should seriously consider shooting the wife (LOL) if you can't shoot the bird. Should be an easier target !!
 

Jerry Olson

Well-known member
361 7
Pat494 said:
You should seriously consider shooting the wife (LOL) if you can't shoot the bird. Should be an easier target !!

LOL

yeah i thought about it many times.............................................. :cheesy:
 

charliechan

Experienced member
1,008 119
tradewinds said:
.....However with a good trading plan and only trading perhaps 3 trades aday then no one has to spend 12 hours at a screen. ......

yep. i agree. why make the job more stressful than it need to be?

if i wanted to sit behind a screen all day id go join the rat race! i wanna make me rich - not my broker.
 

Pat494

Legendary member
14,332 1,497
Jerry Olson said:
LOL

yeah i thought about it many times.............................................. :cheesy:
Just kidding Jerry :cheesy:
I am amazed though at the stress levels you seem to revel in.
It must be something like having a crazy kid on the drums 3 feet behind you for hours on end when one is trying to concentrate. But that just goes to show how different we all are, in pursuit of the same goals I suppose !!
 

tommo3000

Newbie
1 0
haha, i cant believe this article got rated so highly, people must really thrive on this kind of negativity, oh and pardon you what makes us think we're so special, what makes you think that we're not? come on, just because you spend 11 hours a day in a basement glued to a screen skimming for the odd buck and shooting woodpeckers, doesnt mean the rest of us are destined for the same tedious fate! someone had to say it.
 

Jerry Olson

Well-known member
361 7
Pat494 said:
Just kidding Jerry :cheesy:
I am amazed though at the stress levels you seem to revel in.
It must be something like having a crazy kid on the drums 3 feet behind you for hours on end when one is trying to concentrate. But that just goes to show how different we all are, in pursuit of the same goals I suppose !!
Hi Pat

in all reality that enitre article was to wake up the newbies out there of what a day in the life could be if you're a frazzled uncontroled person.

But in all candor while i have this high intensity, hi manic mode when i trade, i am as relaxed as all get out. I am emotional as a cheer leader, and that is my exact personality trying to help others sell too soon and take the money and run.

It may not be for everyone, but it suits me too a tee, and all the folks trading with me each day. We love the markets ebbs and flows, we always take a break mid day, at least i do for about 2 hours, have a long lunch and relax, then get back in the game refreshed and ready for the end of day moves.

All and all it's a life i enjoy to the hilt. Not saying others can't do it better, or easier, but it fits my needs and my personality and that worksd for me.

There are a lot of daytraders that would much rather sit in the trade trialing stops. I on the other hand preach take profits early and often while you learn your craft.

I have some traders right now with less than 3-4 months under their belts making 10 15 consecutive small winners using small lot sizes. It boost ones confidence to the point that all one needs to do is raise their lot size and the profits soar.

But one mans meat is anothers potatoes.................................. :cheesy:
 

Moneymaker2

Newbie
1 0
Valuable reality checks for DAY traders, but who needs to do that? I still have a life (and a wife) and a job (hey, surgery's fun, OK) and made $340k swing trading last 12m. It can be done simply, and without all this stress. You just have to follow your trading plan rules. Set and forget! Go get that pecker Jerry, give the wife a kiss, switch off the screen and take her out to lunch, before one of the guys at the shop gives her more than just a gun. What's money for anyway? :cool:
 
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Van88Guy

Junior member
22 1
I read 'Demons On our Shoulders.' I suppose it is good to highlight the pitfalls of trading, because many people think trading is an easy road to riches. Trading is tough, but it isn't Mission Impossible:

I trade financial futures, mostly ESTOXX50 and BUNDS. While I only do this part time, I haven't suffered from the kind of stress mentioned in the article. Trading is about managing probabilities. Sure, it's tough, but a properly researched system should generate 60%+ success rates, and that is actually enough to generate adequate returns, provided the trader has sharp money management. I intend on making the leap to full-time trading in about 6 months. (I would do it now, only I have committed to completing another project first.)

Anyway, that's another perspective, from someone who never wears a bathrobe, and someone who still has a life.

Van88Guy
 
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