Do you admit to being a Trader?

More likely to pick it up in the US. I had to put a special order in as it's a US book.
 
another gd book is "trading in the zone" by Mark Douglas

Agreed C_L (y)

If you read the book and completely understand its ramifications, you cannot fail to be successful.

A definite "must~read" for ALL newbies. Then they can admit to being a trader !!
 
Mp --- Its A Business, Not A Lamb Chop !!

Roger, Since what you say so well agrees with what I preach insecessently, I must congratulate you for your insightful and REAL appraisal of the traders position in the marketplace.

Its a business with its own rules, culture and methodologies and its a learned experience. Gain the experience, and the rest falls into place with amazing ease, although I often wonder if "psycologically directed" books are the answer and are not better replaced with a good "technical" look, with a whole lot of "how the markets really work" information.

whatever may lie down that road, If the newb simply spends the time, learns what its all about, and remembers completely that its simply a business, then success should be available, in measure and ratio to their abilities !

and to the one so worried about being called a "gambler", in one part of that "common knowledge" lies some truth, as you are "speculating" and that, by definition is a form of "gambling" --- intelligent gambling it may be, but gambling nevertheles !

BUT, there is so much more to it that once you "pay your dues", it opens up to you and for many actually becomes a tad "boring" to be honest ---- at one point i used to sit and stare, overtrade simply because i needed to trade and now, stodgy and solid citizen that I am, i will wander over to the computer, take a look and decide "that" should be worth a few good pips, and pull the trigger, after which i enjoy romping with my ferret.

what i get at is early on, there is the excitement of the "chase" -- the pursuit and the win, but later after many puruits and many wins, you know how it works, you understand where the prices are going, and armed with that information it simply becomes another established pattern, out of hundreds of established patterns.

dont misunderstand what i say, as this is one of the most fun "non jobs" i have ever had, but with experience comes ability and with ability one relinguishes fear (and greed if one is so inclined) and you become "one" with what is happening before you --- a "zenistic" approach if you will.

enjoy and trade well

mp

your historian/zenistic/dutch uncle/trader ----
 
My wife sticks to the common knowledge that most "traders" are really just gamblers. I must admit that subconsciously, I take that in and it sits there waiting to tell me "I told you so". It is very difficult to develop a winning mindset when your family don't support you.

In my humble opinion there is nothing wrong with gambling as long as you win, going to win pretty damn soon or failing that - extra nimble to avoid getting swatted by the wife !
good luck
 
Yeah, you need supporters or at least not negative imposing views.

I wouldn't call it gambling, unless that's how you choose to trade. I call it probability and methodology.
 
Well, these last few days, if I had £1 for every time I heard someone say something like

" I blame all these greedy traders driving the markets down through short selling "

I'd have enough to open another SB account !

dd
 
There's going to be a witch hunt and lots of finger pointing


Wot me Guv ??
 
Last night it was Salmond pontificating on the news about the "spivs and short sellers" who had brought HBOS to its knees.

I would ignore them but I keep worrying that someone's going to take them seriously and introduce a tax on futures trading.

I mean, more than the x% the HMRC takes from any profit.
 
I buy & sell things on the internet (true).
I sell computer parts on ebay. I have a supplier in Hong Kong. I travel to Hong Kong a couple of times per year, to source new parts. The jobs OK, i'm fully self employed, and work from my home stockroom, but its hard work, and i virtually live in the post office sending out deliveries! (white lie)
I do do a lot of business on ebay. Buying bric-a-brac mainly. I just bought myself some nice big red shiny leather boxing gloves today!
 
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In reality every one is a trader.
Millions trade there time for money in the work place.
What we do is similar to the loacal fruit and veg shop, the only thing different is we dont have to go to the whole sale market, we log on to our accounts online.

Many see what we do is gambling, some hate us because of how we live. Some admire us because we have balls to do it.

I say Im a futures trader, if they want to know and I dont like them I say you would not understand.
 
I say I'm a divinator
and before they can say what's that I'm off
 
People will deturmin if you are sucsessfull by , not how much your car costs, but how many holls you have per year and your life style.
When you become really sucsessfull become scruffy, unshaven.
This sounds wiered, but it works .
When you have had 3-4 solid good trades per year then move house if you like or start buyinh up the street you live in :)

One never knows who they are dealing with in this day and age :) Anyone can hire a bently for £100 a day or a £80000 range rover for £400 a day . the real business people are the ones who hire these cars :)


Think and be cleaver :)
 
I think any business is a gamble and trading is no different.
If you buy stock to sell on ebay you are gambling as to whether it is going to sell or not.
If you have taken the time to learn about your trades and how to read charts etc then it is quite different from playing a slot machine!
As to whether I would tell people that I am a trader,, I'm not sure as I usually keep my business as private as possible from everyone apart from a few close friends and family. As I have just started trading in my forex account live I would probably wait until I felt successful about what I was doing before telling anyone that I am a trader. As being a Northern Brit most of my family and friends are rather cynical about stuff like that! :)


If you view trading like gambling - ull get results like a gambler... !! Its all about CONSISTENCY.......... !! (y)
 
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