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There are two types of traders:
First --trading for profit; even struggling but making money
And
Second – for entertainment, just to feel the buzz …
For some the hardest thing is sitting without a position --- but worse is losing money.
But in these markets -- once the money is gone, the game is over.
So, if your goal is to make money --- then sitting without a position is not a problem. But if you’re in for the action and must trade than you’re for the buzz, you want to be entertained.
And just keep in mind -- good entertainment is usually expensive.
I rather have few good trades a week than end up with nearly hundreds a day just to make money for my broker in commissions -- I did that and have my broker’s statements to prove it. See to make some money only to give it all back and then even more in the future, doesn’t sound right but sounds way to familiar….does it?
So, you should give it some thought…and ask yourself: Am I trading for profit or entertainment? Because if you don't make money and only pay for it -- that to me is entertainment…
Can you help answer these questions from other members on NexusFi?
come on, man, you've got to be kidding me. people here who are serious about trading are fighting for profits/livelihood everyday. there are so much at stake here and you are talking about entertainment?! Casinos are for entertainment and kicks, it's not only cheaper and safer, there are also parties and girls around.
who in their right mind would trade for entertainment?! once you get to a certain proficiency, trading becomes boring, and it remains dangerous all the time. and if you don't care about making a profit, why would you ever trade?
I agree with you completely, but can't help but notice the irony of someone with the handle "iPlayGames" stating it. Hope this thread dies a quick death.
"In order to excel, you must be completely dedicated." -- Willie Mays
Ok iPlayGames (is this a coincidence? —games & entertainment)
In summary, the message that I try to convey here is simple:
-- if you trading and you don’t make money I think you should stop and revisit your situation – maybe it’s a good time to go back to the drawing board (or even quit i.e. blown capital). On the other hand if you making money -- kudos!
Saying that, different times call for different measures, and right now I think I’m trading for entertainment. See, I’m in a process of separation/divorce so just in case I don’t want my other half get my forthcoming entire half.
I understand what your getting at, but I think entertainment is the wrong word to use. There are traders who get a physical response when entering a trade such as an adrenaline rush, and for some people trading is an outlet for that, (very similar to an addiction).
Its important not to forget the role of adrenaline in your body, which is to trigger our fight or flight system. And if that is happening on a regular basis, it likely means that something is wrong in your trade/ trading.
You could call it entertainment if you fully understand that, and are solely trading to provoke that reaction. But that seems a little like fiscal bondage.....
There are also many more entertaining things to bet on.
Haha, that's something I didn't take into consideration. I totally get you now. marriage can be really tough, I sometimes entertain the idea of trading for entertainment to ruin myself so that my other half would divorce me and set me free. but I've my son to take care of, and it reduced my options to patience and endurance. sometimes I think of the current marriage hell I'm living in as a good thing for my trading, since it constantly tests my skill at mastering and restraining myself :-).
I can imagine that your premise that some traders are not as professional oriented as other traders might be true, but an artificial division in two types of traders seems a little too simplistic to me. Plus, it's incomplete since you don't account for serious, but losing traders.
@Jura
I value your opinion but for me this simplistic division is the only valid division. You can label differently if you want (as I've labelled entertainment), but sooner or later, we all have to face this division -- as we as traders belong to either the wining or the loosing side.
I know is harsh but that what's matter at the end -- and there is no compromise .
Wish you all the best
dario
