BASIC trading strategy that can work?

[tech/a]

Let me use another example

Your a wage earner you want more money

If your motivated by being as valuable as you can to your employer
The money will come.
Just being motivated by being given more money won't make you a valuable asset
If your motivated by becoming as good as you can---the money will follow.

 

[minwa]

Sorry, anyone that enters in the market with a sane mind to speculate IS motivated by money. You say you are motivated by becoming as good as you can in trading - let's measure it in futures market ticks. What does this give you ? MONEY. I do not know of anyone who want to accumulate profitable ticks in the market for reasons other than monetary.

In business it could be different yes like an architect would feel absolute great in having their designs built into reality. Their dream/vision coming into fruition may be greater than their monetary incentive. This is not the same in speculating in the market - you would NOT be trading if there wasn't monetary benefit involved. You yourself said you could think of nothing worse than glued to the screen for hours trading full time - but do this because it supplements your income which basically says you do not just trade for the challenge.

At the end of the day P/L money made is the underlying factor. We trade to make money, not to be right.

Let me ask you one question - which offer would you take ?

1. I will give you $2000 today, but you must take today's trading session off.
2. I will allow you to go into the market and take on the challenge to make as many ticks as possible. But whatever harvested you cannot be paid. Your reward is gaining the satisfaction that you made xx number of ticks.

Unless you can honestly say you would rather offer 2 then you ARE motivated by money to trade.

 

[tech/a]

Our views are different
That's ok.

I'd actually take 2 as I don't need the money.
I'm on a few boards and let me tell you it's not about the money.

 

[minwa]

Our views are different
That's ok.

I'd actually take 2 as I don't need the money.
I'm on a few boards and let me tell you it's not about the money.

That's very interesting..you're a first that I've met that would day trade for nothing other than positive numbers on a computer screen. If I had all the money I need I would definitely not be sitting for hours bleeding my eyes over moving pixels & numbers.

Maybe I can understand now..I get a rush and enjoyment from video games which is also just flashing graphics and you see the market as this.

For 99% others on this board myself included who do not have all the money they need and are looking to profit monetarily from the markets - they ARE motivated by money therefore emotions does play a part.

 

[tech/a]

That's very interesting..you're a first that I've met that would day trade for nothing other than positive numbers on a computer screen. If I had all the money I need I would definitely not be sitting for hours bleeding my eyes over moving pixels & numbers.

For 99% others on this board myself included who do not have all the money they need and are looking to profit monetarily from the markets - they ARE motivated by money therefore emotions does play a part.

I don't sit for hrs
Perhaps 2 hrs a week
None for the last 8 weeks
Have been traveling.

There are easier ways to make $$s than trading
And there are no easier ways to make money than trading
I'll leave that one with you!

 

[minwa]

I don't sit for hrs
Perhaps 2 hrs a week
None for the last 8 weeks
Have been traveling.

There are easier ways to make $$s than trading
And there are no easier ways to make money than trading
I'll leave that one with you!

Time is irrelevant. You rather a big demo win of 20 ticks than say 10 ticks of live money real $ in the bank is your conclusion. Fair enough. Just trying to wrap my head around that.

 

[tech/a]

Time is irrelevant. You rather a big demo win of 20 ticks than say 10 ticks of live money real $ in the bank is your conclusion. Fair enough. Just trying to wrap my head around that.

Sorry you've lost me.

I wouldn't sit for even an hr without long term profit----long term loss would have me re valuating my blue print
The only reason I can trade when I want for as long as I want is the hrs spent refining my trading method to the point where I can switch in and out of the market when I want.
Profit is the result of answering the challenge of designing a method which allows me the flexibility to trade as I want.

Where you've pulled this demo thing from has me baffled.

We are streets apart
That to is fine.

 

[minwa]

Sorry you've lost me.

I wouldn't sit for even an hr without long term profit----long term loss would have me re valuating my blue print
The only reason I can trade when I want for as long as I want is the hrs spent refining my trading method to the point where I can switch in and out of the market when I want.
Profit is the result of answering the challenge of designing a method which allows me the flexibility to trade as I want.

Where you've pulled this demo thing from has me baffled.

We are streets apart
That to is fine.

I was putting into context of your previous points where you say you are not in the market for money and would take offer 2 - the choice of a better entry/exit with no monetary reward (ie. on a demo account) than the gain of money itself.

 

[tech/a]

Oh I see

Off to bed catch up on my jet lag

 

[Gringotts Bank]

http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.617.5144
http://psychology.uga.edu/sites/default/files/Lakey et al. 2008 JBDM.pdf

These research papers found a link between narcissism and poor performance on a standardized gambling task (IGT). The IGT requires the gambler to learn how to be profitable.

Why is this relevant?

Because narcissism can be used as a proxy for low self-acceptance or low self-worth (the former being a reaction to the latter). Presumably this will be more important for discretionary traders, but will apply to some extent to all traders. It makes sense that impulsivity, over-trading and inability to delay gratification would result is excessive risk taking and the potential for failure in the longer term.

I think it's a reasonable assumption that the reverse would be true also - ie. that those with high self-acceptance would find discretionary trading an easier and more profitable prospect. Though I can't find any studies on this.

[edited]

 

[banco]

Sorry you've lost me.

I wouldn't sit for even an hr without long term profit----long term loss would have me re valuating my blue print
The only reason I can trade when I want for as long as I want is the hrs spent refining my trading method to the point where I can switch in and out of the market when I want.
Profit is the result of answering the challenge of designing a method which allows me the flexibility to trade as I want.

Where you've pulled this demo thing from has me baffled.

We are streets apart
That to is fine.

I don't recall you making much (if any) profits when you were competing against CanOz.

 

[tech/a]

I don't recall you making much (if any) profits when you were competing against CanOz.

Neither of us did.