Professional trading: Why you suck as an amateur
Another solid articles on tips why you probably blow donkey balls at trading. Check it out below as here are the highlights once again:
1) Resources – These professionals had a wealth of analytic resources at their fingertips–and they used these resources. They had a keen eye for how their market should be priced and took advantage of occasions when it moved from that benchmark.
–> Software comes to mind that is why it is important to master this skill. I.e. develop your own for exact needs not realying on crappy limted software retail trading platforms that cannot scale, offer multiple broker connections, and so on. Roll your own. This ain’t an easy process and it will never be. Maybe you should learn to pull the finger out of your ass. Or maybe just maybe, it will never work for you ’cause you don’t take responsibility or your just play victim like some ex partner. Bohoo, let me give you a little hug.
3) Strategy – Every trader I talked with could enunciate his or her specific edge in the marketplace and, in some fashion, could quantify that. I could not find a pure gut trader in the bunch.
You know how many poor cavemen traders I run into that rely on 1 strategy. Yeh, no wonder you got blown out. Think of the markets as Mother Nature and the Darwinian process, it wipes out the masses in one foul swoop. Good bye you turds, have fun working at McDonalds flipping burgers. Wah wah, cry me a fcuking river. You should not be trading, go to the casino. In short, software for analysis is key here.Roll your own suckah frat boy but that is ok becuase you are either too lazy or too stupid to know how.
4) Adaptation – Each of the pros knew details of his or her P/L, but also detailed trading statistics such as Sharpe ratios. When the stats veered off course, they were quick to make adjustments.
–> This is quite obivous, Sharpe alone don’t mean crap. Self adapting systematic automated processes are key here! You need to know your threshold limits, constantly running portfolio and risk simulations for positioning weight allocation, etc. Of course, the kiddies will never get that cause they’re drooling on the next color of their Lamborghini that they will never get. They will be lucky to scounge enough from mommy’s allowance to take the bus to school.
5) Complexity – The professional traders employed complex trading strategies that relied on trading different instruments and timeframes, all to exploit a single idea. Many of these strategies involved hedges that managed risk, even as they aggressively pursued their ideas. The idea of buying/selling a single thing and exiting it never arose in my conversations with them.
–> You probably ran away like a little girl. Good, the pros essentially are exiting the trades that you enter into because, well you were stupid enough not to know not to see the opportunities months prior. . Ahh let’s see, I wonder why….your software sucks and your risk analytical skills are probably as good as a four year old pre-schooler.
In summary, all you are doing is chasing stocks like other sheeple because all you do is watch CNBC to call yourself a ‘pro trader’. Or you ready the stupid forums with people yelling at each other through some nasty flaming war.Remind you of Twitter or YouTube commenting trolls. You ain’t one of these suckers are you? Or better yet, you buy of of those overprice garbage educational programs you think is the magic bullet like the Mother Goose who lays the golden egg. Get over it, it does not exist!
But hey in the end, it aint my money.
PS. If this really bothers you, is that it reminds you because of your mental case alcholic daddy yelling at you that you are failure. Maybe’s he right?
You have options you know.
You could always learn how get yourself on the right path.
But hey in the end, it aint my money.
Oh yeh, here is that link from above: http://traderfeed.blogspot.ca/2006/04/how-professional-traders-differ-from.html
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