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Re: Why do people buy/sell?

PostPosted: Mon Nov 01, 2010 7:16 am
by goldtop
I hear what you say regards private v/s company funded traders & of course that makes a huge difference, if only because a trader won't get hired by a private investment fund or Hedge Fund operator unless he's a proven, profitable entity.

I also take your point about the benefits of receiving the correct tuition & education. That will definitely accelerate a persons learning curve dramatically & ensure they have the correct type of feedback focused on their individual style & trading expectations.
Unfortunately, most novices who frequent these types of trading forums are under the false impression that all they need to get ahead in this business can be accessed for free.

Sure, there are some very good threads scattered around the forum world + the odd decent article or pdf etc, but unfortunately for most folks browsing these forums it's not nearly enough to keep them out of harms way.

Most simply don't possess even the barest minimum psychological requirements to succeed long term in this type of environment.

Rom wrote:If "a very disciplined & well organized strategies & models" can be replaced by a pretty straightforward end-of-day trading strategy the need for education, upfront payment and 5 hours sceentime will be eliminated.

If that was the case then everyone trading straightforward end-of-day strategies across the many forums & trading sites would all be ultra profitable & stress free.

The reality of course is very different indeed.

You only have to peruse the many varied trading forums & browse those types of (long-range strategy) threads to see that they harbour just as much despair & despondency as the many varied day trading threads.

Most folks who are attracted to this type of endeavor come to it ill prepared, naïve & carrying totally unrealistic aims & expectations of what's actually required to succeed long term.
And as long as they continue to adopt a "get rich quick" mentality the well trained, adequately prepared professional operators will take their money from them at every opportunity! 8)

Re: Why do people buy/sell?

PostPosted: Mon Nov 01, 2010 9:52 am
by goldtop
You mean to say you haven't yet realized that all signal providers are a complete joke? :lol:
You're wasting your valuable time chasing up that dead end street.

Why are you so reliant on others for your trading provision?
Why don't you construct your own model based around your technical preferences (including timeframes), trading style & objectives?

Surely you can put together the basis of a workable strategy based on different technical components that have piqued your interest?!

You're in for a very rude awakening if you assume you're going to be able to simply pick a strategy "off-the-shelf" & replicate someone else's returns or results.

As you're discovering, it simply doesn't work that way in the trading world for lots of different reasons – the main one being psychological (including risk attitude & tolerances) incompatibility.

Re: Why do people buy/sell?

PostPosted: Mon Nov 01, 2010 1:07 pm
by goldtop
I think you're totally misunderstanding the point we're trying to make.
Timeframe is essential only to your own personal trading plan structure.

Where do you get this strange idea from that intraday traders are obliged & even expected to initiate multi trades per day??

I trade both short-term & medium-term strategy models, as do most of the colleagues I work with, 2 of whom post on this thread: combination-strategies-t140.html

Although our day trading strategies are more aggressive in nature than our longer-term strategies, we still only execute trades when the conditions are ideally suited to the strict criteria required to trigger a position.

Rarely do we execute more than 3 or 4 intraday entries per week.
In fact so far this quarter, which started beginning October, I've only triggered 5 intraday trades in total.

You seem to have this cut & dried picture in your mind that day traders typically execute multi-positions per session & are therefore placing themselves at greatly increased risk of blowing up.....whereby swing traders apparently are better placed to attract less risk & higher long term profits.

That attitude couldn't be further from the truth.
A proficient & experienced trader will be confident & competent enough to operate via micro & macro timeframe views.

I agree wholeheartedly that inexperienced retailers who haven't got a clue what they're doing are prone to over trading on micro timeframes, risking excessive amounts with their undercapitalized funds.
That however is not the case as far as professional traders are concerned, some of whom are extremely (long term) successful day traders!

Day Trading doesn’t automatically mean multi-day entries.

Re: Why do people buy/sell?

PostPosted: Mon Nov 01, 2010 2:39 pm
by whipcrack
I get the feeling we've been here before!

Rom wrote: My use of "daytrading" is standard.

...and your inflexible interpretation & straightjacket views on this subject matter is one reason why you'll probably exclude day trading from your agenda, thus unnecessarily handicapping yourself in benefiting from a genuine & totally logical means of long term profit potential.
But that of course is your choice...............and we're veering wildly off-topic again!