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Do you see trading as fun and games?


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18 replies to this topic

#1
analyst75

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“One thing very good traders have is insight into themselves.” - Chris Tate

 

 

FUN AND GAMES

Recently Louise Bedford and I have been doing the Short Term Trading Magic seminars in a few places and it has been sometime since I did any form of presentation on a semi regular basis. As such it has been interesting to observe people as they work through various trading issues.

 

One of the things I have noted is that people take trading far too seriously and this is reflected in a form of desperation. Desperation is the antithesis of the state of mind you need to be in to trade effectively.

 

There is no deny that this is a phase everyone enters at some stage in their career but to be successful you need to move beyond this and begin to treat trading as the game that it is. Once I started treating trading as a game then it became so much easier on the soul and my results reflected this. I even have a t-shirt that says that the fewer fucks I give the more I make.

 

This is not to say that I am reckless but rather that I am in no way wedded to the outcome of any trade. At its core my life will not change if a trade or even a cluster of trades are winners or losers – they are simply not that important. When compared to real life, trading is nowhere near as important as people think it is.

 

It is often commented that children are better are learning new things than adults who seem set in their ways. I am not so certain that this is a reflection of any great cognitive superiority or plasticity that the young may have but rather a reflection of their willingness to be both wrong and to play. Young children have no ego therefore the mistakes that their play generate have no impact upon their sense of self-worth. As adults we lose this resilience because we believe that it is somehow catastrophic to our self-image if we do make mistakes.

 

But in trading your mistakes are your own – no one else can see them so you are insulated from the judgment of others. This isolation gives you the freedom to be wrong but the only thing you have to cope with is your own judgment.

 

 Markets are a wonderful universes for exploration and for play. The presence of micro contracts in various instruments and online trading mean that you experiment very cheaply.

 

The price of admission to the fun park is much lower than it used to be and the number of rides has gone through the roof. It is a shame that more traders don’t view trading as little more than a theme park where you can play to your heart’s content and during the process of playing you learn much more than you would if you were consumed by seriousness and desperation.

 

 

Author: Chris Tate

 

Article reproduced with kind permission of: http://tradinggame.com.au/

 

 

More trading quotes are below:

 

“To my way of thinking trading is an internal endeavour – there is no external enemy who you can deceive or overpower since markets only exist in the most ephemeral way inside your head. Markets may appear to be physical constructs but they are largely an illusion, trading occurs inside your head where your own perceptions and distortions of reality influence your decision making.” – Chris Tate

 

“The one thing you shouldn't feel pressured about is trading. If you do feel that way, you probably need to take a step back and reassess. Pressured trade®s don't make good trade®s.” – Joe Ross

 

 

www.tallinex.com wants you to be a successful trader 

 


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#2
bearhugs

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I have never seen Forex as a game but I try to enjoy my trading so that I can earn as much I want. I know it is not easy to enjoy your work like Forex but once you start earning Profit, you will start enjoying your trading work. 


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#3
sidejob

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Hm, after i read it i have thought about it but I think that we should enjoy trading in forex so we could focus more, but treat it just like a game? I don't think so. Business is business and game is game. Could forex be fun? Yes it is but when we need to deal it seriously we should do that and forget that forex is not a game, but a risky business where you "gamble" your money.


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#4
myregister

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How can I see that as fun? I mean I enjoy trading in this business and my excited feeling when making profit that i targetted before. It is also not a game, it's a serious business where i try to turn into a place where I could make a living with it. FX is not a good place to gamble your money, in the end, forex is enjoyable business but not as fun as you may think.


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#5
Gee Dee

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Yes, obviously I prefer to see my trading as a fun experience not very serious one. I agree with the fact that in many instances we can face serious losses but if we take trading loss so seriously it can further affect our trading decision. So, I am trading smaller amounts and keep this in the mind that it will be ok if I lose. I will take lessons from my losses and move forward. But if I win, I will be happy.


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#6
bearhugs

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Financial markets are inefficient in a number of ways, measured by such properties as momentum, mean reversion, seasonality, cointegration, price asymmetry etc. Traders that are unable to articulate and quantify their edge are in effect just gambling.


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#7
Sininfinity

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Well I don't take forex as a fund or game thing. It is a serious thing for me and I intend to achieve something from it. It is taking more than what I have expected but I am slowly reaching there.


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#8
gaban

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Where we run this forex trading that we must have a maximum knowledge to where the forex business is able to be enjoyed and felt with the benefits obtained consistently. Forex business that will be happy if where the desire can be achieved. Traders where not maximal owned try to keep learning on the run so that where more can understand again how to manage profitable trading when will plunge in real trading with instaforex


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#9
vizta

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I use to take forex as responsible game. Because sometime I use to Make profit but many times I loose a little but I will take it as challenge and take fun out of it when I get success. For traders i always use to tell take forex as game like you will able to play without any tension.


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#10
Sininfinity

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I use to take forex as responsible game. Because sometime I use to Make profit but many times I loose a little but I will take it as challenge and take fun out of it when I get success. For traders i always use to tell take forex as game like you will able to play without any tension.

 

I don't know how it is working out for you but trading should not be taken as a game and should be taken seriously. Also there will be losses and traders should expect them.


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#11
uncle gober

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so if the trader has a good level of focus that traders can for better and more leverage in running the existing trading activities, that's why traders should be able to utilize a demo account well to be more leverage in surviving in a real account.


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#12
anton.blood

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I've enjoying my trading activities like playing games..stress make your mood going bad and more lose money.


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#13
Alick Bannerman

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I don’t see it exactly as a fun thing, as often a lot of money is involved and we MUST ensure that we do take these things seriously. I do like to keep it to enjoyable levels, but it shouldn’t be taken as games like thing. We need to focus on trading with PROPER plan and method and I do just that with focusing on major pairs. I usually read eur nok prediction, as it’s my favorite pair and something through which I can make healthy profits.


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#14
uncle gober

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that's why traders should be able to find passion trading that makes it nyman, it is needed for traders to pay attention to the existing psychological conditions and can be maximal again in managing funds and risks that exist in accordance with expectations.

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#15
Sininfinity

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I don’t see it exactly as a fun thing, as often a lot of money is involved and we MUST ensure that we do take these things seriously. I do like to keep it to enjoyable levels, but it shouldn’t be taken as games like thing. We need to focus on trading with PROPER plan and method and I do just that with focusing on major pairs. I usually read eur nok prediction, as it’s my favorite pair and something through which I can make healthy profits.

 

Hmm. How do you deal with the huge spreads and then make profit? The pair you mentioned has huge spreads and most of the time it is more than my profit target. lol


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#16
uncle gober

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besides that traders should be able to be better in managing funds and risks that exist and run existing trading activities in accordance with the passion trading that we have.


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#17
Zirva1122

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That is ur perfection in trade that you enjoy ur work as fun and enjoyment. No doubt its good thing bt not for evert individual.. mostly take it so serious and risky task. And cant afford it at enjoyment levels. Forex is taken by most of the people as business.
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#18
Sininfinity

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Different people view forex in different ways. For some it is a job and for some it is a business. Funny thing is some people see it as a gambling lol. The thing that matters is that we are all in this business for profit and if we are able to achieve it consistently then we are doing it right. No matter we take it as a job or business.


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#19
uncle gober

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that is why traders must be able to continue to do training and learning well so that traders can maximize their profitability that can be more consistent, so that traders can better manage their funds and risks.

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