Traders Commitment Levels

[waza1960]

Good comments, look forward to trading being boring if that happens find it hard to believe atm though.So many markets/traders/systems/time frames to analyze,books to read so little time. The other issue for me is that having being diagnosed with Aspergers Syndrome a while ago I realise that trading really suits those tendencies as in I don't need many friends if any .I like solitary pursuits/Systems/details/mathematics/computers.Also the reason that I got out of business was completely exhausted dealing with people and relying on others.Also closing the business and working part time while learning to trade with little in the way of funds as back up is extreme motivation.

 

[moXJO]

.Also the reason that I got out of business was completely exhausted dealing with people and relying on others.Also closing the business and working part time while learning to trade with little in the way of funds as back up is extreme motivation.

A lot of business owners gravitate towards trading.

 

[wayneL]

The other issue for me is that having being diagnosed with Aspergers Syndrome a while ago I realise that trading really suits those tendencies as in I don't need many friends if any .I like solitary pursuits/Systems/details/mathematics/computers.Also the reason that I got out of business was completely exhausted dealing with people and relying on others.

This is another important personality factor, apart from anything like Asperger's, there is the whole introvert/extrovert factor.

Contrary to what many believe, this is not about how outgoing a person is. I'm pretty outgoing, but I'm also an introvert.

Extroverts are drained by being alone and derive energy from company.

Introverts are drained by company and derive energy from being alone.

Horses for courses.

 

[sjx]

There will come a time in your trading career where you will literally hit the wall like a marathon runner does in that last quarter..

You will hit it a few times day-trading, whether it be futures or forex.. I know I have and it sucks.. and you have to pick yourself up and get on with it.

I think these experiences (ive lots a fortune in forex specifically) really taught me some extremely valuable lessons, and today, I am a much more seasoned trader as a result.. Confidence in your ability and your trading decisions is imperative to be a successful trader, but in my experience at the start of a trading career, it will kill you.. all I can say is, make sure you use some risk management, and maybe when you do hit the 'traders wall', and fall into that abyss, it wont be so bad!!!

All the brilliant traders have been there.. .. good luck mate

 

[ThingyMajiggy]

So basically....trading is like everything else in life? You need confidence in your ability and decisions to be successful at most things, you have your ups and downs and your "walls".

Reminds me of the happiness thread, everyones different, so its not much point people trying to shine the light on whether its good or bad I guess, just how much you're willing to put into it vs how much and what you want out of it.

 

[MRC & Co]

So basically....trading is like everything else in life? You need confidence in your ability and decisions to be successful at most things, you have your ups and downs and your "walls".

I'm not sure what sjx is talking about, because I don't believe all traders have had to have blown up, but I can definately relate to the feeling of 'hitting the wall'. I think this is a far harder wall to pass than in most other endeavours and comes back to haunt you numerous times. I know some of the biggest European traders have psychologists, like athletes, to help them overcome these re-occuring 'walls'.

In a lot of these threads, boredom and screen time is talked about as the worst part of being a day trader, both can be overcome if you want, the hardest part IMO, is the psychological aspect of it, it's a continuous battle with not only the market, but your own 'walls'.

 

[tech/a]

That's true. But it's a business that a technician can run successfully. It doesn't need an entrepreneur type person like so many "people" businesses.

I believe you can see the different business personality types in trading courses for sale/

Courses designed by entrepreneurs are.... well, all the things experienced traders dislike about courses. BS, poor content, ridiculous claims, EXPENSIVE etc etc. The course designer probably no longer trades and was a loser when he did.

Courses designed by technicians are more low key and factual without the ludicrously BS marketing. Much better courses by a million miles, but lacking in the marketing and promotion department. They appeal to logic rather than fear and greed. Consequently they don't sell as well, but at least they make a quid trading... because they still actually trade.

The classic "technician has an entrepreneurial seizure" scenario. I'm a good trader, so I'll sell thousands of really good courses.

Just my observations.

An astute and valid observation from my experience.
The successful trader who educates as an aside really doesnt care if you agree or disagree with what he puts out there.

Its his success and it will continue whether you learn or not from him--your choice.

"Make a million in 2 weeks" does care if your influence by their guff and will go to extreme lengths to make available guff. While it still is your choice they wish to INFLUENCE your choice. Case (1) doesnt.

Thanks Wayne.

 

[Buckeroo]

Extroverts are drained by being alone and derive energy from company.

Introverts are drained by company and derive energy from being alone.

Good quotes

I reckon though, depending on your stage in life, you can change from being one or the other. I also think society today is making us all a little introverted, our neighbors become strangers etc.

I suppose that's why there are more & more traders around - everyone's trying to escape & do their own thing.

Cheers

 

[waza1960]

There will come a time in your trading career where you will literally hit the wall like a marathon runner does in that last quarter..

You will hit it a few times day-trading, whether it be futures or forex.. I know I have and it sucks.. and you have to pick yourself up and get on with it

Thats a very good point and I know I have already experienced this a couple of times and obviously this is proportional to your commitment levels/Financial position.In other words somebody just trading casually with funds that they can easily write off would not experience "Hitting the Wall".The other issue is that if you have being in small business for a while you are used to so you are somewhat hardened to this scenario.

 

[AzzaB80]

I also think there are different types of traders. The ones who have there setups that just execute them when they see them and use correct money management to turn a profit. I can see how that would be boring.

Then there are the ones that take it to next level who employ a great deal of creativity, always looking to improve themselves and always learning.

They are constantly seeking themes across markets, trying to work out which timeframes are involved, feeling their oppositions anxiety if the market doesn't do as expected and generally thinking in abstract. Trading is like an art to them and they get great reward out of predicting market movements regardless of their P/L statements.

To me trading and markets are anything but boring.