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I have heard this over and over....
This concept of not wanting to take money from another trader is absolutely
absurd. do people really suffer from this? If you are in this game then you
know or should know the risk. If you loose money to me, then you miss judged
the market and I got it right.
I deserve the money. The tables will turn and I will give some back.. with
hard work
I will improve my analysis ability and take more then I give up. You win you
loose.
If you loose to much, move on. find another game. This is not for you.
I just don't understand the argument that some traders can't take money form
another trader...
Does anyone really suffer from this? It is not like the money I make in the
markets is
from widows and orphans. These are traders that have accepted the risk.
Anyone else find this concept ridiculous?
Have a good holiday... whichever it is.
-----Original Message-----
From: gary gray <ggray@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, April 01, 1999 1:13 PM
Subject: Re: Bull Market
>It's not necessarily work input. There are plenty of "traders" who put
>forth tremendous effort and resources and still fall in the 90%. And
>that's ok. If 9 traders
>lose $2,000 in a month and you are the one who "takes" their $18,000
>than so be it... It really is at a subconscious level. Many can't
>handle the idea of "taking" something from someone else. Trading
>(blackjack,horses,lotto,etc,etc) are all Zero sum. If I
>take it you are giving (losing) it to me. The test is so simple but
>people get so erked at this.
>
>If someone is walking down the street and they drop a wallet with money
>you (as a trader with the proper "gimmie" subconscious) will take the
>wallet grab the cash and maybe put the wallet in a mailbox. That's just
>the way it is. That is why so many "brilliant" traders' develop and
>sell systems. When they try to trade they invariably screw-up and have
>net losers over time. They would rather give up the "wallet" and say
>"here you dropped this". when they "drop it" on the trading floor...you
>MUST be willing to take it.
>
>How many times have you come off a losing trade that was "set up so
>perfect" and said "this can't be", "I don't believe it"!!! Go ahead and
>call me a fool...
>that's why it's 90/10 and not 60/40...
>
>--- Norman Phair <ericrogers@xxxxxxxxxxxxx> wrote:
>> I have heard figures as high as 90% of the people
>> that do day trading
>> fail. No work, no reward.
>>
>> Norman E,
>>
>> > "Peter M. Beckwith" wrote:
>> >
>> > Great post, Ira.
>> >
>> > Not only are there more on-line trading commercials
>> than beer and auto
>> > commercials, but the content and substance of these
>> commercials is
>> > completely off-line. The firms that sponsor these
>> commercials hire
>> > teams of lawyers to settle suitability of
>> investment lawsuits and
>> > arbitration suits all them time from people who
>> lost their shirts(not
>> > to mention their homes) after daytrading on the
>> internet for a couple
>> > of months. You would think that after all of the
>> horror stories out
>> > there about people who didn't understand what
>> margin was or that if
>> > the stock goes against you x percent you have to
>> meet the cash
>> > requirement, the firms themselves would take a more
>> responsible
>> > stance. Instead, most of us who keep CNBC on in
>> the background have
>> > to watch an Ameritrade commercial about a mom and
>> housewive who can
>> > take the kids to school and throw some money in a
>> biotech company to
>> > the tune of $1700/day or the guy who owns his own
>> island, etc...
>> >
>> > I don't know what we are going to see with this
>> market, but one day(I
>> > hope) we can look back and just laugh at how absurd
>> those commercials
>> > really were. I am hoping it is sooner rather than
>> later and then
>> > maybe, just maybe the public will understand that
>> trading is a
>> > profession, not a hobby that you take up in your
>> spare time...
>> >
>> > Pete Beckwith
>> >
>> >
>>
>
>
>===
>Regards,
>
>Gary
>
>The Best Global Telecom Price$
>Guaranteed...
>http://LD.net/?garywgray
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>
>
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