Full time traders

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trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

To any newbies out there you have to develop mental toughness to be a full time trader and understand anything can happen :D
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Anything will happen ;)

But the more confidence you have in your edge and the more disciplined you are, the less toughness you need.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

Agree shaun i should of said you learn to build your mental toughness then it becomes normal
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Think most traders I know are pretty laid back and rely on their edge more than being mentally tough, not sure I'd call myself "mentally tough" and seem to do OK.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

trader44 wrote:
Wed Apr 24, 2019 3:27 pm
Agree shaun i should of said you learn to build your mental toughness then it becomes normal
I'm not sure if I built my mental toughness or just didn't need so much.
tbh I prefer to leave things to bots these days, that way I can be as flakey as I want :?

I agree with you though....Winning is the easy part, it's getting kicked in the arse and giving it back that really tests your mettle.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

spreadbetting wrote:
Wed Apr 24, 2019 3:39 pm
Think most traders I know are pretty laid back
Several decades of clogging up your serotonin receptors helps ;) Nicely rounds off the corners of any emotional spikiness.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

haha couldnt agree more shaun.. i am an in running trader and its mental sometimes especially doing it manually :o
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

What's your style of In-Running trading?
Do you only trade within a certain odds range?
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

front runners b2l l2b anything i see really..odds range can vary ..i dont back to short odds but am happy to lay bigger priced horse if i think theres a trade in them or they cant win
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Derek27
Posts: 23477
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

spreadbetting wrote:
Wed Apr 24, 2019 3:39 pm
Think most traders I know are pretty laid back and rely on their edge more than being mentally tough, not sure I'd call myself "mentally tough" and seem to do OK.
It might be more a case of not being mentally weak, or just having the mental fitness to cope with losses and not make the daft mistakes most of us made when we started out trading.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

Agree derek handling a loss is so important.. heres what you shouldnt do ..overstaking. not redding up, not greening up.trading with fear,trading with euphoria if you do they will destroy your edge
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

i also dont think people realize how hard it is to make a full time living trading
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

I don't think a lot of people realise just how easy it is either.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

yes spreadbetting once we have the discipline and have the traders mindset .well thats my thoughts on it
PeterLe
Posts: 3715
Joined: Wed Apr 15, 2009 3:19 pm

spreadbetting wrote:
Thu Apr 25, 2019 6:31 pm
I don't think a lot of people realise just how easy it is either.
I think in fairness; anything is easy once you know how*
The first step is not losing.
With automation and large sample sizes of bets, this is relatively easy as long as the initial entry is sound.
With book percentage close to 100% you wont lose much in developed markets betting at random and then honing and refining.
Id argue that it is harder doing things manually; each to their own
Regards
Peter
* Even Knowing how to do it isn't always enough; its about execution too. EG, I love playing snooker and know what to do, but getting over a 30 break still isn't easy after many years of playing!
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