Comments on: Recognize what trading REALLY is (and then dominate it)

By: JakeGint

JakeGint — Fri, 19 Jun 2009 22:31:06 +0000

That's not true. Trading adds liquidity to a vital market and if you want to know the significance of liquidity, go price some houses in California's Inland Empire.

Liquidity improves cost of capital and low cost of capital (whether relative or real) makes the world go round.

You put earl in your engine, dontcha?

_______

By: good trade

good trade — Fri, 19 Jun 2009 16:55:37 +0000

Keep these GOLDEN NUGGETS of trading coming they are dead on. I have been trading for 10 years and am always amazed that I can make mistakes every day and keep repeating them over and over again in different flavors. The only reason I stay around is that I NEVER EVER EVER average into a position that is a looser. Cannot say I have good stop losses plan but I never risk more than I can afford to loose and thus get to trade once again. Also I do not trade on margin due to my sloppy stop loss plan....this may help keep me in the game. Also on big winning years I took the money out of my trading account a did somthing real with the cash.

Andy you are so dead on with your feedback THANK you we retail day traders are suckers for getting bad data from market makers and the fools at CNBC and getting real TIPS can only help us EVENTUALLY HAVE A SEAT ON THE NYSE.

Cheers,

Good Trade

By: gregorylent

gregorylent — Fri, 19 Jun 2009 15:28:57 +0000

sums it up .. and the adding no value to anything puts the point on it ..

By: gregorylent

gregorylent — Fri, 19 Jun 2009 15:28:57 +0000

sums it up .. and the adding no value to anything puts the point on it ..

By: andyswan

andyswan — Fri, 19 Jun 2009 15:11:20 +0000

Exactamundo!

By: Alamo

Alamo — Fri, 19 Jun 2009 15:08:42 +0000

This is why gambling gives you an edge in trading. And I dont mean all ur chips on RED. Utilizing perception (or the reversal of), sentiment, recency bias, or information of other players at the table to make bets that have a higher probability of winning. Today's chartists are now offering all sorts of information. With the widespread adoption of TA, a chart paints the perception of other players at the table. This is an incredible weapon…just as you can see what someone wears at a table, how they handle their chips, or what facial tick they make, a chart reveals much about your opponents positioning. You are most definitely fighting against someone and not just playing ur screen. Play the player, not just your cards….holla!

By: Andy Swan » Wheelhouse Investing

Andy Swan » Wheelhouse Investing — Fri, 19 Jun 2009 05:34:38 +0000

[...] Investing, especially privately, is very differnet from trading (which is more of a sport or game than anything) [...]