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Your first trade is a nice winner. Do you keep on trading?
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Your first trade is a nice winner. Do you keep on trading?

  #11 (permalink)
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Politeness...is the ultimate hypocrisy. I call em, like I see em.

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  #12 (permalink)
Student Of The Markets
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NoJob View Post
I apologize for not answering.

I really don't give a flip about losing trades or winning trades. I'm so "lost in the game" that if I miss a few shots or make a few I'm not thinking about it. I'm working playing defense, rebounding, etc.. I'm in the game. I stopped out 1st trade this morning, didn't think nothing of it and came back with 8 winners. Didn't think anything of those winners either, because my head was still in the game, watching the order the flow pouncing on it where I see fit.

This is the best way I can put it and I can only speak for myself.

I guess it's a mind state thing. I don't try to rationalize\quantify what I do as a business and compare it to any other business. (doesn't mean I don't take it seriously) I'm at peace with "betting", I'm looking to "bet", I accept the risk that goes with it and embrace the "gambling" aspect of it. Embracing the gambling aspect of it, allows me to cope with the losses and the wins. Not to get to high or to low.
Again that is what works for me.
YMMV

cheers


Thank you for your reply. Have you always looked at your trading with this mindset, even when you first started ? If not, how did you change it? I have a friend who I met this year who was a floor trader for 15 years here in NY and he is exactly the same way. He can care less if he has a winner or a loser. And I got to believe that is the key to this game. I'm still green and learning the market, but I have the perseverance to make it. I started a business out of my home with only a $10,000 credit card and built it to annual revenues over $5 million in a few short years.

Cheers
Ryan


Last edited by itrade2win; October 9th, 2010 at 12:28 AM.
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  #13 (permalink)
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tigertrader View Post
Politeness...is the ultimate hypocrisy. I call em, like I see em.

So tell me Gary, what you see in my question that is not trading???

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  #14 (permalink)
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tigertrader View Post
Politeness...is the ultimate hypocrisy. I call em, like I see em.

Gary,

You have been trading since 1971, me only 13 months. You were once where I am and you should never forget that you had to start at the beginning as well. Or does your big head get in the way of being humble?

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  #15 (permalink)
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itrade2win View Post
I started a business out of my home with only a $10,000 credit card and built it to annual revenues over $5 million is a few short years.

I have met many successful traders that prior to trading did many things successfully. This is awesome what you have done.
It means that you have some roots of discipline in you!

You had the balls to come here and ask a good question. You did the right thing.
No one started as a profitable trader from day one, and IF someone did, they have read so much and research until they wanted to put a fork in their eye.

You are on the right track, and if at times you go back and forth between real and sim as a beginner to tweak things, it's ok.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #16 (permalink)
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mattz View Post
I have met many successful traders that prior to trading did many things successfully. This is awesome what you have done.
It means that you have some roots of discipline in you!

You had the balls to come here and ask a good question. You did the right thing.
No one started as a profitable trader from day one, and IF someone did, they have read so much and research until they wanted to put a fork in their eye.

You are on the right track, and if at times you go back and forth between real and sim as a beginner to tweak things, it's ok.


Hey Mattz,

Thank you for your feedback, I appreciate it. I sold my biz last year. Worked too many hours, almost lost my family and health. I decided that trading is my next journey and I WILL succeed. You can bet on that.

Cheers
Ryan

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  #17 (permalink)
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tigertrader View Post
Politeness...is the ultimate hypocrisy. I call em, like I see em.


itrade2win View Post
Gary,

You have been trading since 1971, me only 13 months. You were once where I am and you should never forget that you had to start at the beginning as well. Or does your big head get in the way of being humble?

Hey guys.... calm down. futures.io (formerly BMT) is about helping people in a positive way. If you want to help someone using negative reinforcement this isn't the place to do it.

No name calling, no rude behavior, etc. Period. It will not be tolerated.

The thread topic is a good one and should be discussed. There are going to be a lot of opinions on a subject like this. Keep an open mind. If you disagree with someone, try to be specific as to why in your reply or just don't reply at all.

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  #18 (permalink)
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Big Mike View Post
Hey guys.... calm down. futures.io (formerly BMT) is about helping people in a positive way. If you want to help someone using negative reinforcement this isn't the place to do it.

No name calling, no rude behavior, etc. Period. It will not be tolerated.

The thread topic is a good one and should be discussed. There are going to be a lot of opinions on a subject like this. Keep an open mind. If you disagree with someone, try to be specific as to why in your reply or just don't reply at all.

Mike

Mike, Thank you for stepping in.
This what might separate you from all the other forums as a moderator and encourage beginners to share, ask and seek advice. Harsh criticism, is nothing more than looking inside your soul, hating something and taking it out on others that might have the same weakness. Let's stop being cyber bullies and help.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #19 (permalink)
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Big Mike View Post
While trading is very mathematical, we are not computers. There is a psychological component.

Like most things in trading, there is not a black/white answer. There is not a "this is how you trade" answer. You need to set yourself up for success, but you need to also play to your own strengths and weaknesses.

Personally, I have a daily goal that I trade to. I am comfortable trading to this goal and stopping. If I don't trade for a day or two, then I press a bit as I have weekly and monthly goals as well. I fine having a goal helps me mentally.

One aspect: you can be done in one or two trades and go live life, having traded just 1 hour. Another aspect: you can stay and trade the rest of the day, and make ten times as much. You can also lose what you made originally and end with a loss.

The bottom line is your method should dictate how many trading opportunities you have each day. I have a dozen or so each day, I probably take less than half on average. I am fine with this. It is part of my routine. You have to find your own routine, just make sure that it makes sense. Don't stop trading mid-day for no good reason. On a similar note, I ignore those who say don't trade during lunch, or don't trade overnight, etc. I trade when price action and my method tell me to trade. Price doesn't care about what time it is, and I am not trading such huge volume that I need RTH liquidity to fill my orders.

Mike

Good stuff Big Mike. Just need to find my routine.

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  #20 (permalink)
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itrade2win View Post
Gary,

You have been trading since 1971, me only 13 months. You were once where I am and you should never forget that you had to start at the beginning as well. Or does your big head get in the way of being humble?

I apologize if you misinterpreted my remarks, but in this case I think you should neither blame the messenger nor the message, but the medium, i.e., e-mail, message boards, blogs - the written word in general.

Text does not convey emotions nearly as well as face-to-face or even telephone conversations. It lacks vocal inflection, gestures, intonation, and of course a shared environment. One cannot tell if you are serious or kidding, sincere or sarcastic, derogatory, or just critical.

My literary style may be a bit aggressive, but it is not meant to be mean-spirited, or malicious. It's intended to be merely honest and provocative.

So once again, my sincere apologies.


Last edited by tigertrader; October 9th, 2010 at 03:27 PM.
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