How to make money trading

[fayalac]

What was the line, a million dollars, one hand, no tears?

One of those protagonists was John Meriwether, whose latest fund closed about 6 months ago due to poor performance. The only person he's ever made money for is himself - he's also managed to lose a lot of money for his investors down the years.

Sounds like a pocker player :cheesy:

 

[Splitlink]

Yes, they used to gamble with the serial numbers on their banknotes in some way. All very professional stuff!

And these guys were entrusted with funds' money!

 

[meanreversion]

Echoes what I just typed on another thread about "professional" traders. They tend to be held in very high regard on this website (they are usually referred to as the "big boys"), but some of them are total numpties. I'd put JM in this category; although I've not met him, having read "When Genius Failed" I'm pretty sure I know what he's like ---- very brainy, total egomaniac, can't admit he's wrong, overconfident; recipe for disaster. And so it proved, not once but twice.

 

[0007]

---- very brainy, total egomaniac, can't admit he's wrong, overconfident; recipe for disaster. And so it proved, not once but twice.

..... sounds like the CEO of UK plc until a few weeks ago!

 

[meanreversion]

er, bit slow here, who was that?

 

[KingKongGrinder]

This is just one of the realisations on the way to becoming a profitable trader! Keep with it!

I'm also very new to trading and need some advice on where to start. I guess the good thing for me is that I already don't care about money.:cheesy: I learned that from playing online poker for the last 4 years.

 

[bevok]

Mr Gordon Brown

 

[Jumpinjack]

I was an institutional trader once and the main problem in the trading room was ego.


And now you are a forum poster..!

 

[meanreversion]

I don't think I'm egotistical. But I also try hard not to let ego dictate what I'm doing in trading, don't always succeed tho.