babyjake1961
Well-known member
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For one, I hate it. Placing trades, following them real-time, and closing them out really displeases me for some reason, evokes all sorts of undesired emotions, and creates a strong sense of improper time spending. If I had to choose between trading manually or quit trading for good, I would surely quit.
I do enjoy scrutinizing markets for their regularities but once I spot those, I refer to a coder's help for a fully automated EA which I could later run off my VPS as opposed to manual trading (with the historical data tests as a pleasant and useful bonus).
I truly believe more than half of all trading losses are not as much due to flawed trading strategies (or a lack thereof) as due to the emotional human responses, greed and fear being the main ones. Another one is impatience wherby traders withdraw or double down after a losing streak. The reasons for impatience are mostly desperation and/or a desire to get rich quick and somehow seeing trading as one real way to do it. Had they researched, they would know the trading super-profits are delivered by the exact opposite - the compounding effect over many months of small profits.
I've known some people who were desperate to the point they couldn't wait a month. One asked me for a showcase run of one of my bots, I agreed, then he told me it would be a no-go if the bot does not deliver super-profits in as soon as a month. He said he couldn't sustain himself financially if he doesn't have his high trading profits every single month (like if we had an identical market every month). The man later fell victim to some online con in his desperate quest for a holy grail and lost even that little he still had.
I am not advocating EAs here, a lot in trading is discretion-based and one often can't squeeze that into a code. Trading is just a lot more like science and research to me than a source of income or gambling.
I do enjoy scrutinizing markets for their regularities but once I spot those, I refer to a coder's help for a fully automated EA which I could later run off my VPS as opposed to manual trading (with the historical data tests as a pleasant and useful bonus).
I truly believe more than half of all trading losses are not as much due to flawed trading strategies (or a lack thereof) as due to the emotional human responses, greed and fear being the main ones. Another one is impatience wherby traders withdraw or double down after a losing streak. The reasons for impatience are mostly desperation and/or a desire to get rich quick and somehow seeing trading as one real way to do it. Had they researched, they would know the trading super-profits are delivered by the exact opposite - the compounding effect over many months of small profits.
I've known some people who were desperate to the point they couldn't wait a month. One asked me for a showcase run of one of my bots, I agreed, then he told me it would be a no-go if the bot does not deliver super-profits in as soon as a month. He said he couldn't sustain himself financially if he doesn't have his high trading profits every single month (like if we had an identical market every month). The man later fell victim to some online con in his desperate quest for a holy grail and lost even that little he still had.
I am not advocating EAs here, a lot in trading is discretion-based and one often can't squeeze that into a code. Trading is just a lot more like science and research to me than a source of income or gambling.
