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People love to gamble. Trading is, by any definition, gambling, since
regardless of how many charts you make or programs you use or programs you
operate, the fundamentals can bite you or favor you at any moment. Of
course, any business is a gamble but trading does not require one to travel
or call on customers or satisfy clients... you press a few buttons and
collect the money!
I've been trading stocks for 33 years now and other than basic historical
charts, I use no technical methods. I'm a pure fundamentalist and I
believe that the only way to trade is with those fundamentals of momentum,
sentiment and sector demand. I have always done well at trading equities
but the one time I tried to trade futures, I got hammered. I soon realized
that the fundamentals on the floor of the exchange are a far cry from the
fundamentals I was using. With equities, fundamentals work for me though..
and even as I say I don't use technical analysis, I respect those who do
and maybe that's the key to this list .. respect, consideration and
fellowship for fellow traders.
An old trader...
Bob
At 01:11 PM 5/5/2001 +1000, you wrote:
>Why is it that everyone thinks that they can be a successful trader?
>What is it that motivates so many people to want to trade?
>Is it the money? the ego? the testeroserone? something else?
>And why do so many people feel they can learn the game in such a shot amount
>of time?
>
>I know If I wish to become a doctor it will take me about 8 years,
>If I wish to become a barrister (Attourney) it will take me about 5 years,
>A engineer about 5 years.......
>I know that their are exceptions to every rule......
>
> From brokers I know world wide I am told that many of their clients
>disappear after 6 months because they have blown up....
>That only about 18% are successful and that includes 2%+/- they are
>incredibly successful.
>
>The better brokers say that apart of their role is education....but they also
>say that they get frustrated by people who are in a hurry and do not really
>wish to learn...
>A couple of brokers I know have left due to this frustration and are now
>successful prop traders for themselves or for companies.
>
>None of this inteded to offend anyone and if it does??
>the old saying "if the hat fits....wear it"
>
>Who cares anyway we need the liquidity in the market!
>
>Trying to be "Gentle" Ox...Stephen from Australia..!
>
>
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>
>
>
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