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Friends and people ask me about business ventures and career path all the time, because I am professional in the science and engineering field. I give talks to young people and even my own kids.
Everyone wants some degree of certainty before they proceed a journey.
I be honest with them and I do not sugar coat anything. Atleast I know I gave them my honest answer.
If someone ask me if I make money trading, I will tell them yes or no. It is the Right thing to do.
You realise you just summed up my entire point with that response right?. If you ever achieve the status of a profitable trader, and I mean a truly profitable trader who earns a full time living in the markets, come back to the original question. I am sure your response will be very different from what it is today.
This thread is tiring so I'll exit stage left and watch from the side lines.
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- Trade what you see. Invest in what you believe -
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Inject morality (the "right thing"?) if you want, but it's simply a personal question, which the person being asked has no obligation to answer. Those who say "yes" are then always asked to show proof. If they show proof, they are asked to show live trades. It never ends. It's like asking "do you exist, god?" When the voice from heaven says "yes" then you ask, "can you make it rain, or something?" The real kicker though, is that their 'yes' or 'no' in no way affects you. All of this is an effort to offload responsibility, at its core.
On another thread here recently, people were talking about the viability of a trading method. The average comment was something like this: "I'm not willing to spend $1000 on this without some guarantee that it works." That's all people want -- guarantees. It further proves my $25K / $25 parity comment -- it's not about the money, it's about being unable to accept risk (not the same as the inability to take risk). People want guarantees that their $1000 will not be wasted. What form should that guarantee take? Apparently, anyone who buys this $1000 trading manual should have some guarantee of making money. How ludicrous. Do people who think this way even understand that THIS is one of the reasons they are losing? They want guarantees, because they don't know how to accept risk, and not being able to accept risk is one reason that they lose.
theirs one simple answer to the question "do you make money" and that is " I haven't had to get a real job yet" This will stop any and all bs about how much do you make, let me see, how much do you lose etc etc. It has been my go to answer for the past few months.
-P
"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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- Trade what you see. Invest in what you believe -
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Josh, I agree with your sentiment. Some are "fascinated" with the markets, and they like the courses, the indicators, the strobe lights on the platform, the bubbles, and the ongoing chatter about the markets.
Then some approach trading as a decision-making challenge, and they look for solutions that would help them cope with the challenges of the markets. They know the risk, don't look for guarantees; they seek variables that would help them make better decisions.
In my opinion, if the world's best trader decided to write a course, at best, it would help marginally. This applies to any expertise you seek. The best expert advice helps you slightly because the rest is your personal experience and application of things your way. Any information or plan when you don't have practical experience is just a model.
Trading is the analysis of psychology, crowd behavior, price action, and the exercise of risk management. How could one person take all that and apply it to someone else in one curse, book, or lecture? Practically impossible.
Everyone has to ask themselves the question, "what problem am I trying to solve?" This is the model question. You could further ask, "What am I lacking to solve this?" and "what tools do I need to solve this problem?" Then you can evaluate if the tools you are coming across get you close to your goal.
"I want to make money from trading!" is not a problem, BTW. It's a wish. "How do I choose overbought areas?" is a problem, or "how do I stop my impulsive trading?" and "What asset class should I trade?". All these are challenges that could be defined and potentially researched to find the appropriate solutions.
Thank you,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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