TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:49 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 6 posts ] 
Author Message
 Post subject: Can Everybody Make Money in the Markets ?
PostPosted: Fri Oct 23, 2015 3:53 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Its human nature to measure yourself against the other person(s). If you believe you can do better than the other person(s)...you're also believing your performance will be better.

Simply, as a trader and knowing most traders will fail at trading...if you think you can do better than other traders...you're also believing you'll be a profitable trader. Furthering my opinion, I think the market is arguably setup so that only a small percentage will be profitable. Therefore, most market participants just lose money. Yet, just because only a small percentage are profitable doesn't imply the markets do not work. In contrast, it means that the markets do work and that only a small percentage were able to figure out how to make it work.

Quote:
Too many people got the philosophy of the trading mixed up. They believe to prove that something works is to prove that most are profitable.

I learned the above statement in in quote/italics is false when I played sports. On the amateur level...most can do it. Yet, as you progress to the higher level of competition from high school to college and then to professional or international competition...

Most will not make it but only a few will make it. I can live with that because I think that's the way its suppose to be. Simply, to prove that something works...you need to prove that only a small percentage are able to succeed.

Think about the above paragraph very carefully. For example, pretend there's 100 traders using the same trade method...only one trader succeeded while the other 99 traders failed...does that mean the trade method does not work ?

With that said, there's obviously other ways to make money in the markets. For example, a close friend of mine so far this year is having a negative performance (first in about 10 years) at his institutional firm. Yet, his salary is 230k per year with full health/medical benefits and other perks. He earned that job. Graduated in the top of his class at graduate school, did the internships, made close friendships with the right people and many other things involving many years of education and networking. Simply, he figure out a way to make money in the markets but not via the perspective of a retail trader.

Regards,
M.A. Perry


Top
 Profile  
 
 Post subject: Re: Can Everybody Make Money in the Markets ?
PostPosted: Mon Oct 26, 2015 2:28 am 
Offline

Joined: Thu Oct 15, 2015 4:50 pm
Posts: 8
Mark thank you for sharing that it's really good to get a different perspective from time to time on trading specifically from someone that is actually making money trading and has a measure of success.

[ec42]


Top
 Profile  
 
 Post subject: Re: Can Everybody Make Money in the Markets ?
PostPosted: Sun Nov 15, 2015 9:15 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
DTrader wrote:
Mark thank you for sharing that it's really good to get a different perspective from time to time on trading specifically from someone that is actually making money trading and has a measure of success.

[ec42]


Hi,

Your welcome. I hope this thread becomes very helpful because I'm a strong believer that successful trading involves more than just trade signals. Thus, I want to talk about many different aspects that impacts our trading that are not normally talked about but should be talked about.

Regards,
M.A. Perry


Top
 Profile  
 
 Post subject: Re: Can Everybody Make Money in the Markets ?
PostPosted: Thu Sep 01, 2016 4:45 pm 
Offline

Joined: Thu Sep 01, 2016 5:46 am
Posts: 4
Thanks for sharing. Many mentors focus knowledge on technical indicators, fundamentals, etc, etc; few highlight the psychological side of trading and effect of our attitude and positive mindset in the final outcome.

If we think we can do it; we will. However, if we believe can't be done, we will be right too.

Regards,

Luis C.


Top
 Profile  
 
 Post subject: Re: Can Everybody Make Money in the Markets ?
PostPosted: Thu Sep 01, 2016 5:27 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
foxlac wrote:
Thanks for sharing. Many mentors focus knowledge on technical indicators, fundamentals, etc, etc; few highlight the psychological side of trading and effect of our attitude and positive mindset in the final outcome.

If we think we can do it; we will. However, if we believe can't be done, we will be right too.

Regards,

Luis C.


Hi Luis,

I agree. I think the reason why most mentors focus on technical indicators and fundamentals is because its an "easy" business model for them. In contrast, the few mentors out there that focus on the psychological aspects of trading...that type of business model is much more difficult. It requires more time & energy for the mentor to get to know the trader to be able to help resolve issues that's preventing the trader from achieving success...issues that may not be trading related.

In fact, I think mentors in the psychological business of trading...they should only do such in person mentoring to allow them to see what really is occurring in the trader's trading environment...before, during and after the trading sessions to determine what are impacting the performance of that trader.

Another possibility is that when it comes to mentoring the psychological aspects of trading...a good mentor will be able to determine if the trader is suitable for trading. Thus, if a mentor concludes the trader should not be trading...that's a client the mentor will lose because nobody wants to hear someone telling them they are not suitable for trading. That trader will simply go find someone else to take their money to be mentored.

Regards,
M.A. Perry


Top
 Profile  
 
 Post subject: Re: Can Everybody Make Money in the Markets ?
PostPosted: Sat Jul 11, 2020 3:54 pm 
Offline

Joined: Fri Jul 10, 2020 3:03 pm
Posts: 24
Hello,

Not everybody can win in the market.

Trading is a zero sum game,actually negative taking into account commissions,spreads and fees,therefore you need losers to feed the profits of the winners.
It doesn't mean necessarily that there will be 50% winners and 50% losers.

Imagine a poker table with one big funded loser bettor and 8 small funded clever players,it could very well happen that at the end of the game there are 8 winners and one loser.Also,you can imagine a poker table with 2 big funded and clever players and 7 small funded palyers of which 6 are losers and 1 has worked enough to improve his game,so that he is a clever player.It is very possible that at the end of the game there are 3 winners and 6 losers.

So,even if not everybody can win at trading,you can do it if you work cleverly enough on your trade entries,exits,management of trades and your beliefs and emotions.You just have to understand that this is a profession with a very steep learning curve,and extremely tough beginnings,therefore,invest your time to learn and realize that becoming successful implies changing yourself and your views...And not just about trading.

W


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 6 posts ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr