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Real Traders Know…
One of the traders in my room said to me the other day, “I have this indicator I made, but I can’t use it yet -- it’s a still messy.” To which my response was -- it’s supposed to be messy, get in in there! That’s what trading is all about.
In the land of retail forex, chuck full of bogus and useless advice, the art of trading is presented as a simple act -- as easy as taking a selfie and posting it on Twitter. The broker ads show smartly dressed urbanites glancing at a pop up on their Iphone then pressing one button before smugly getting into their just pulled up Uber ride as they bank thousands of pips in between their daily appointments.
For those of us who risk real money every day, the reality of trading is quite different.
Real traders know that you haven’t really traded until you hit a sell button instead of a buy. Worse yet -- until you’ve sold a million instead of 100,000 and now watch in shock as a weeks worth of profits disappears in a matter of seconds.
Real Traders know that you haven’t really traded until you find yourself on the wrong side of a news release and watch as prices verticalize against you executing your stops 50 or even 100 points away from their intended origin.
Real Traders know, that at any given day, the ISP, the broker platform, the fiber optic cable between NY and London can all go down -- sometimes all at once -- leaving your orders floating in cyberspace for no one to execute.
Real Traders know that the SNB lift of the peg is not a “once in trillion event”, but pretty much what happens in FX every 5 years or so as the “world as we know it is about to end.”
Real Traders know that despite more computing power than is needed to run our nuclear defense capabilities, markets at their core are very human enterprises and therefore are messy by definition as they are subject to all the whims of sentiment.
That why I loved this other email I got this week that told me our service sucked because,”All I wanted was some precise and well analyzed trades with very high levels of accuracy and not guessing or speculations, which change all the time.”
Real Traders know that “guessing” and “speculation” is what we actually do for a living as traders.
Which is why Real Traders in my room make money every day. They are not afraid of getting messy. They are not afraid to “guess”. They are not afraid to lose. More importantly they are always open to finding new ways to play the Great Game.
Meanwhile all the amateurs continue to believe that all you need is “precise well analyzed trades with high levels of accuracy”. Haha.