Difference between amateurs and professionals

[EnlightenedJoe]

He picks entries that are fundamentally robust , then sits patiently for a few years after entry.The entries are the ones he can't lose on .

The market timing of the entry is not important , we can't time the markets , we don't know what is going to happen next , it is the exit or the patience which pays .

Take an example of Apple shares or coca cola shares , Warren Buffet was patient in the entries and patient in exits.

If what you say is true, then where does your obsession with psychology come from ? If something has value, you pick it up, simple economics. Where does psychology fit into that ?

 

[foroom lluzers]

If what you say is true, then where does your obsession with psychology come from ? If something has value, you pick it up, simple economics. Where does psychology fit into that ?

when you pick it up , you need psyche discipline of being patient.

Most like Big John are loss averse and close trades very quickly.

http://www.businessinsider.com/colin-camerer-wins-genius-grant-2013-9?IR=T

 

[EnlightenedJoe]

when you pick it up , you need psyche discipline of being patient.

Most like Big John are loss averse and close trades very quickly.

http://www.businessinsider.com/colin-camerer-wins-genius-grant-2013-9?IR=T

The economic "genius" in your link is an idiot. If he traded, not only would he have lost his shirt, he would have lost his pants as well.

Traders (pro's and not the internet traders) do what they do for good reasons. This is why they are traders and economists are not.

When you pick up something valuable, only an idiot would then protect it using psychology. You protect it with your ar*e by sitting on it. What kind of people would have a psychology growth on their ar*e ? This could be fatal. I'd see a doctor.

 

[foroom lluzers]

beginner joe

Take a look at this monkey , observe the little monkey , see what he does.Where and how did he learn these subconscious skills? .He was no born with them.In his early learning years , the little monkey learned how do specific things , he does them subconsciously on the goat,

Now take a look at yourself and examine ,why you do the things you do.It is a study of behavioral science.Equally humans are born with certain types of subconscious behavior ,when traders pick it up very cheap or pick up a really good trade ,their behavioral antics take over , as a result they screw up good trades.

We are the product of our environment .We behave and expect to behave , as we have always done in the past.You can't teach an old dog new tricks .

 

[EnlightenedJoe]

Where and how did he learn these subconscious skills? .He was no born with them.

If you can't see what is plainly obvious, I can see why psychology would play a part. You may wish to add in some religious faith for enhanced protection from things you can't see.

The monkey was born to find economic value in forms of tastey fleas to eat. When it finds value, it sits on it with its ar*e. From the video, there's no evidence of a psychology growth on it's ar*e. So it's in good health to find more value.

I haven't looked into it, but perhaps you can help. Being a fan of Jim Rogers, you show some signs of appreciating what he does. Can you point me to a place where he said trading/investing involves psychology ? If you can't find any, be prepared to answer: why not.

 

[foroom lluzers]

If you can't see what is plainly obvious, I can see why psychology would play a part. You may wish to add in some religious faith for enhanced protection from things you can't see.

The monkey was born to find economic value in forms of tastey fleas to eat. When it finds value, it sits on it with its ar*e. From the video, there's no evidence of a psychology growth on it's ar*e. So it's in good health to find more value.

I haven't looked into it, but perhaps you can help. Being a fan of Jim Rogers, you show some signs of appreciating what he does. Can you point me to a place where he said trading/investing involves psychology ? If you can't find any, be prepared to answer: why not.

“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.”

“If anybody laughs at your idea, view it as a sign of potential success!”
Do not worry about failure, I would tell them. Do not worry about making mistakes in life. It is good to lose money, to go broke at least once, and preferably twice"

― Jim Rogers

 

[EnlightenedJoe]

“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.”

“If anybody laughs at your idea, view it as a sign of potential success!”
Do not worry about failure, I would tell them. Do not worry about making mistakes in life. It is good to lose money, to go broke at least once, and preferably twice"

― Jim Rogers

Which bit of this quote includes psychology, or are we changing the subject ?

 

[Lee Shepherd]

The economic "genius" in your link is an idiot. If he traded, not only would he have lost his shirt, he would have lost his pants as well.

Traders (pro's and not the internet traders) do what they do for good reasons. This is why they are traders and economists are not.

When you pick up something valuable, only an idiot would then protect it using psychology. You protect it with your ar*e by sitting on it. What kind of people would have a psychology growth on their ar*e ? This could be fatal. I'd see a doctor.

A5se can be great and sometimes sitting on it comes great things. If a duck didn't use its a5se to sit on the egg. It would seldom hatch. Hence the term 'sit on your nest egg'.

 

[foroom lluzers]

Which bit of this quote includes psychology, or are we changing the subject ?

Psychology can only be understood by the person doing the psychoanalysis .If you do your analysis on the Jim rogers quotes and the psychology involved in those quotes , you will understand.

Most traders have no clue about psychology , people who have been trading for 30 years appear not to show any clues , how do I expect you to understand psychology?You are asking in the first steps section.

If traders post threads in the psychology and risk section , and it does not include any psychology discussion at all , a reader could rationally say there is lack of knowledge about it , maybe most people don't understand it.

Here is the original professionals versus amateurs , in the psychology section.It had no psychology discussions.

http://www.trade2win.com/boards/psy...agement/105308-professionals-vs-amateurs.html

 

[foroom lluzers]

“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.” Never trader your emotions


“If anybody laughs at your idea, view it as a sign of potential success!”
Be mentally strong as not be influenced by what others believe.


Do not worry about failure, I would tell them. Do not worry about making mistakes in life. It is good to lose money, to go broke at least once, and preferably twice"
Once you lose real money , you mind will feel the emotions of loss and it will put fear in you , to be cautious and careful in trading .Those who can learn to lose well can make money.

― Jim Rogers

There I have tried to explain

 

[EnlightenedJoe]

A5se can be great and sometimes sitting on it comes great things. If a duck didn't use its a5se to sit on the egg. It would seldom hatch. Hence the term 'sit on your nest egg'.

A duck that sits on its ar*s risks getting shot, hence the term "sitting duck".

That economist was an idiot to suggest traders should sit longer for more profit. If they did, they'd go the way of the duck.

My idea of the sitting is only in the context that it's the sitting that produces profit and not psychology. Nor is it useful to over-sit a profit, and there's no need. There's plenty more where that came from

 

[EnlightenedJoe]

There I have tried to explain

That's not explaining. That's putting words in Jim Roger's mouth.

 

[foroom lluzers]

That's not explaining. That's putting words in Jim Roger's mouth.

“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.” Never trader your emotions

A wish is a desire , desire is an emotion.

I don't expect you to understand this in the first steps.

 

[foroom lluzers]

Nor is it useful to over-sit a profit, and there's no need. There's plenty more where that came from

http://www.trade2win.com/boards/psychology-risk-money-management/224286-loss-aversion-trading.html

The economist was showing facts and statistical data , he was incorrectly calling others idiots.He should have explained loss aversion theory.

 

[EnlightenedJoe]

“Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.” Never trader your emotions

A wish is a desire , desire is an emotion.

I don't expect you to understand this in the first steps.

Jim Rogers was saying don't go with the crowd because they are emotional. Therefore lack of emotion is the way to win.

How did you manage to translate that into psychology is the way to win ?

 

[foroom lluzers]

Jim Rogers was saying don't go with the crowd because they are emotional. Therefore lack of emotion is the way to win.

How did you manage to translate that into psychology is the way to win ?

The crowds are not emotional , the trader is emotional if he follows the crowd.

Never trader your emotions

 

[EnlightenedJoe]

http://www.trade2win.com/boards/psychology-risk-money-management/224286-loss-aversion-trading.html

The economist was showing facts and statistical data , he was incorrectly calling others idiots.He should have explained loss aversion theory.

The economist was an idiot to believe past data can predict the future.

Haven't the bucketshops drummed it into your head that past performance is no guide on the future performance ? They do that for good reasons.

 

[EnlightenedJoe]

The crowds are not emotional , the trader is emotional if he follows the crowd.

Never trader your emotions

Yes trading needs no emotions and no psychology. Both of these will cause you to lose.

 

[foroom lluzers]

Yes trading needs no emotions and no psychology. Both of these will cause you to lose.

So if you are a professional in the 5% club (on rebates etc ) ,you would want to hide the "emotions and psychology "from the new trader , so they can lose and you can win.

 

[EnlightenedJoe]

So if you are a professional in the 5% club (on rebates etc ) ,you would want to hide the "emotions and psychology "from the new trader , so they can lose and you can win.

Don't know any pros at the moment. The only one I did know and worked for was a loser.

Trading doesn't involve psychology. Why would I hide it ? Trading is about economics and merchant business.

When I win, the money comes from the bucketshop. What I do has no connection to any new traders or old traders.

The reason I am in this thread is because I am curious why you are peddling psychology, something that will cause people to lose money.