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Trader or Gambler?
Membre depuis Sep 12, 2015
posts 1933
Oct 26, 2015 at 15:00
CrazyTrader posted:
So you got my point:
A chilly gambler are more chance to be successfull by gambling same bet each time.
Some people are more lucky for awhile then reality check kicks in,the gambler only thinks about the win,that's why they can't step away from the table until their wallet is empty.
"They mistook leverage with genius".
Membre depuis Sep 12, 2015
posts 1933
Oct 26, 2015 at 15:10
togr posted:CrazyTrader posted:
Does the following theory makes sens to you.
A pure gambler must have more chance to be successfull at trading rather than a wannabe trader!?.... why?
A wannabe trader lose 90% sure!... while the the odd is 50%
takes 100 people trading randomly market... 50% chance that 50% of them are successfull. while 100 randoms traders, we got 90% of loosers!
Hummm how come?
@CrazyTrader
You do not understand stats.
90% of retail traders fail.
It does not mean such trader lose 90% of their trades.
He can lose just 10% and has wrong trade size for example.
Stats 101 basics!
"They mistook leverage with genius".
Membre depuis Nov 21, 2011
posts 1601
Oct 26, 2015 at 15:28
(édité Oct 26, 2015 at 15:28)
snapdragon1970 posted:CrazyTrader posted:
So you got my point:
A chilly gambler are more chance to be successfull by gambling same bet each time.
Some people are more lucky for awhile then reality check kicks in,the gambler only thinks about the win,that's why they can't step away from the table until their wallet is empty.
This is what we call a trader... 100% of wannabe traders have blown an account!
Statistics... there is no difference between a trader and a gambler.
A gambler get randoms bet thinking it is bearish or bullish... while a trader gets more deeply knowlegde (technical or fundamental)
At the end... the retail traders aren't better than a gambler that you don't want to be. but they both the same. Don't ego too much between traders or gambler... it's the same.
My crazy trades as gambler makes me better than a lot of traders who stick to stupid MM rules.
Membre depuis Feb 22, 2011
posts 4573
Oct 26, 2015 at 15:38
CrazyTrader posted:snapdragon1970 posted:CrazyTrader posted:
So you got my point:
A chilly gambler are more chance to be successfull by gambling same bet each time.
Some people are more lucky for awhile then reality check kicks in,the gambler only thinks about the win,that's why they can't step away from the table until their wallet is empty.
This is what we call a trader... 100% of wannabe traders have blown an account!
Statistics... there is no difference between a trader and a gambler.
A gambler get randoms bet thinking it is bearish or bullish... while a trader gets more deeply knowlegde (technical or fundamental)
At the end... the retail traders aren't better than a gambler that you don't want to be. but they both the same. Don't ego too much between traders or gambler... it's the same.
My crazy trades as gambler makes me better than a lot of traders who stick to stupid MM rules.
trading is not fun nor it is game
you know nothing
Membre depuis Nov 21, 2011
posts 1601
Oct 26, 2015 at 15:50
Lol
1 thing is sure... I know Forex better than you.
Let's ask the community.... It will be only judge: (I know you... again a challenge you can't take)
Let's see whose forecast market the best.... You have no chance... you know that!
1 thing is sure... I know Forex better than you.
Let's ask the community.... It will be only judge: (I know you... again a challenge you can't take)
Let's see whose forecast market the best.... You have no chance... you know that!
Membre depuis Feb 22, 2011
posts 4573
Oct 26, 2015 at 15:57
CrazyTrader posted:
Lol
1 thing is sure... I know Forex better than you.
Let's ask the community.... It will be only judge: (I know you... again a challenge you can't take)
Let's see whose forecast market the best.... You have no chance... you know that!
Oh really? Show me your real verified profitable account
I have dozens of them:)
Membre depuis Nov 21, 2011
posts 1601
Oct 26, 2015 at 16:02
So you avoided the challenge..
You prefer to talk about live account... this is fine : )
I'm building my Fx Army... When it's ready, we will see whose making impressive pips... the crazy gambler or the wise trader ?
The battle is on!
You prefer to talk about live account... this is fine : )
I'm building my Fx Army... When it's ready, we will see whose making impressive pips... the crazy gambler or the wise trader ?
The battle is on!
Oct 26, 2015 at 22:42
CrazyTrader, so you think that RMM rules are stupid? Well if you loose $50.000 just because you did not use the appropriate protection of your trading account, how would you feel then? I bet you would revalidate RMM rules at that point! There is much to learn and to read about RMM that it will surely enhance any traders portfolio and knowledge by doing so. I would suggest that traders who would like more ideas on this so important subject, just google RMM Robot or rmmrobot, it will give advice for free! How to protect the trading account, regardless of what kind of trading platform the trader is using.
" Lock in the profit and minimize the draw down "
Membre depuis Nov 21, 2011
posts 1601
Oct 26, 2015 at 23:04
How many retail traders can manage to invest $50.000 or more?
Most of us have less than $5.000... I would say it represents over 90%.
So now that MM are so great... how come accounts blown out everyday all over the world?
Sticking to hedge funds rules is just inappropriate for low capital investment... That's my point of view.
Now I will show how to gamble market... making good profits with very low capital.
Most of us have less than $5.000... I would say it represents over 90%.
So now that MM are so great... how come accounts blown out everyday all over the world?
Sticking to hedge funds rules is just inappropriate for low capital investment... That's my point of view.
Now I will show how to gamble market... making good profits with very low capital.
Membre depuis Sep 12, 2015
posts 1933
Oct 27, 2015 at 06:57
If you want to be a Gambler be one,but some of us on here are trying to act in a Professional manner,the more we learn from each other the better for everyone.
"They mistook leverage with genius".
Membre depuis Feb 22, 2011
posts 4573
Oct 27, 2015 at 07:03
CrazyTrader posted:
So you avoided the challenge..
You prefer to talk about live account... this is fine : )
I'm building my Fx Army... When it's ready, we will see whose making impressive pips... the crazy gambler or the wise trader ?
The battle is on!
I do trade. For living. You just rattle around
Membre depuis Oct 27, 2015
posts 10
Oct 27, 2015 at 07:22
Both traders and gamblers have chances, and luck factor isn't avoidable. But for traders, technical and fundamental are part of them before execute their opportunity.
Membre depuis Sep 12, 2015
posts 1933
Oct 27, 2015 at 14:39
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.
"They mistook leverage with genius".
Membre depuis Oct 28, 2015
posts 11
Oct 28, 2015 at 07:13
snapdragon1970 posted:
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.
Some newbie traders do the same, trade on gut feelings, risking they money without any concept/analysis. But less of them will learn how to analyze market before execute their order.
Oct 28, 2015 at 08:58
snapdragon1970 posted:
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.
Also i know some gambler traders, who are trading based on math methods.
Oct 28, 2015 at 20:22
Regardless if we are labeled as traders or gamblers, protecting the account is the primary goal and sound RMM to be able to survive in the long run is needed. Now way around the fact that every successful gambler or trader will confirm this as a corner stone in their path to success.
" Lock in the profit and minimize the draw down "
Membre depuis Nov 21, 2011
posts 1601
Oct 28, 2015 at 20:33
All our life is restricted by rules...
Trading can be an exception... why would you implement restricted rules on your way to success with MM rules?
Take them off... and trade with free money.
- If you lose your account (saving you placed from hard work) despite MM rules... you have 100% loss and 0% profit. (respectful trader)
- If you lose free money... you have 0% loss and 0% profit (smarter gambler)
=> So by trading free money, the only risk you take is to win money being free of rules.
Personnaly, my choice is done. : )
ps: 2 new accounts (free money) created based on my last gamble
Trading can be an exception... why would you implement restricted rules on your way to success with MM rules?
Take them off... and trade with free money.
- If you lose your account (saving you placed from hard work) despite MM rules... you have 100% loss and 0% profit. (respectful trader)
- If you lose free money... you have 0% loss and 0% profit (smarter gambler)
=> So by trading free money, the only risk you take is to win money being free of rules.
Personnaly, my choice is done. : )
ps: 2 new accounts (free money) created based on my last gamble
Oct 28, 2015 at 20:59
CrazyTrader I can understand your euphoria at the moment, if you are ahead. The thing is that it will not always go your way. The market changes, we do too, and ups and downs will be a part of the over all trading. Why not be at peace and except the inevitable of the fact that this is what trading is all about, ups and downs will happen and we have to be in control and cool in the down turn moments and the same goes when we are ahead of course. Protect our self and minimize losses when we are down and lock in profits when we are having a very positive period in our trading.
" Lock in the profit and minimize the draw down "
Membre depuis Nov 21, 2011
posts 1601
Oct 28, 2015 at 21:07
Ho yes I know!
Gambling is the fastest way to blow up accounts.
I was up to 5 accounts and I lost 4.
I had only 1 left then and now I have 7.
I have already said that in fact I'm using a very specific MM.
My MM is to trade with 10 accounts... when I will get there, I will start to compound profit.
It's all about managing risk as you said... but having 10 accounts without MM is better than havin 1 account with strict MM.
Simply because naturaly, the whole risk is divided by 10.
Gambling is the fastest way to blow up accounts.
I was up to 5 accounts and I lost 4.
I had only 1 left then and now I have 7.
I have already said that in fact I'm using a very specific MM.
My MM is to trade with 10 accounts... when I will get there, I will start to compound profit.
It's all about managing risk as you said... but having 10 accounts without MM is better than havin 1 account with strict MM.
Simply because naturaly, the whole risk is divided by 10.
