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Ask any psychological trading thoughts you may have
The intention behind this thread is similar to "ask any trading question", but for psychological thoughts and questions.
I wanted to ask a question, but couldn't find the right thread so I created one where we can all ask any trading thought
Here is my question:
Why is it so (relatively) easy to earn $50-200 dollars here (considering you have done your homework and you have created your edge) when most of the people would work 8 hours just for 70-300 dollars. Here (as in the trading market) we can make it in 15 mins - 2 hours easily.
I feel like trading doesn't require much of physical effort but a lot of psychological aspect. But why is there such an imbalance in the amount of time you spend : payout ratio.Normal people work 8 hours : 80-200 dollars, whereas the successful traders spend 15 mins - 2 hours in the market: 70-300 dollars easily.
Has this thought bothered anyone else? would love to hear somebody else's perspective and how I can come to be okay with this imbalance.
John
Can you help answer these questions from other members on NexusFi?
Traders get paid more because they take more risk.
I imagine most people still see trading (esp day trading) as a risky if not reckless endeavor, so they believe their only options are index funds and what not.
Making $300 a day in the markets is easy only in theory. Very few people can actually do it consistently. If it were as easy in reality as it is in theory more people would be doing it.
Agree with Pariah Carey. IMHO the "doing your homework and creating your edge" in trading is more difficult than the requirements of most occupations, both skilled and unskilled labor. Additionally there are few, if any, other occupations where you can "go to work" and not only finish the day with no money, but with less money than you began with.
A trader may make in the range you quoted in 3 hours/day with pushing a button being the only physical action. However the combination of knowledge and skill required with the risk of loss make the profit potential well-deserved in my opinion. Very few traders are able to do this with consistency. I believe that those who can deserve what they earn.
Very true, i'm not against the payout, but it was just something that was bothering my mind, it seems like when those few successful traders who do make that consistently, seems to good to be true, but its definitely well deserved for the amount and struggle they have put in.
I can understand this. But I'm assuming you're fairly new to it all based on your name here and the fact you list your futures experience as "none." If you find you have a passion to pursue trading, in time you will realize that it's a lot more difficult to be profitable (over the long term) than it appears to be in the beginning. After putting in countless hours of screen time, research and losing some $$$, your view may alter a bit.
I know I had a bit of beginner's luck when I started, so I know the whole "too good to be true" feeling and "wow, I don't deserve this return for this amount of work" feeling. But that didn't last too long.
Most people can go to a job and put in 50% effort and still get paid 100% of their hourly pay/salary.
Think of a day when you were sick, but went in anyways. Most likely you didn't or weren't able to put in 100% effort because of that.
If you're not sharp when trading, you don't get paid, and more likely you even lose $$. You constantly have to be focused at 100% to get paid, and conditions continually change.
I would look at it from a slightly different perspective.
The comparison of trading to an employed job isn't exactly appropriate. I'd say trading is more like building your own business, where you invest time, capital and opportunity cost (of working somewhere else) for the eventual benefits of success.
From that perspective, it's not "easy", rather a significant investment.
Yes one may earned $200.00 - $300.00 in three hours of trading yes that is good, but when you look at all the outside work one has to put in charting, mindset, risk management that $ 300.00 in three hours in broken down very low. Just my opinion
Can someone please explain to me exactly what is Trader Adaptability?
I understand that the markets do change an as a trader one must change with the market. Does it mean have a different system for each market change? or to be flexible to take the change when the market changes?
