YOU CAN BE A SUCCESSFUL SCALPER AND HAVE A “PLEXIGLAS” GOOD-LOOKING GIRL BUT STILL BE AN IDIOT
Yes, I know, tomorrow you will be rich. And then all the day-to-day problems will be solved. But the main drawback for professional retail traders is still social alienation and loneliness. Let’s talk about a scalper that spent the last 10 years watching a screen 12 hours per day “otherwise he loses the feeling with the market”, no tv on, no radio, no music, no friends, nothing, just prices, only prices in order “to listen the pulse of the market”. No time to read a book, no occasion to meet new people, no opportunity to put himself under scrutiny by someone else. You make money, you are successful, but you are an idiot and there is even nobody that dares to tell you that simply because if you are making more money than average people you are out of scrutiny by definition.
I saw 40 years old successful traders that turned hundred euros into millions euro that speak like children, laugh like monkies and think like birds. But who cares, they have a nice car, “Plexiglas” good-looking girls, and they can always wash their car on every Monday morning while ordinary people need to go to work. No employer will look after a scalper. Unfortunately very often scalpers also have nobody that is able to listen to them. Just scalpers can listen to scalpers. So when they meet someone that is supposed to listen they lose their mind telling nimbly what they did yesterday, explaining in detail which price they bought and sold in the last 200 trades they made and what they thought and what they felt before, during and after the trade. Believe me, nobody cares, really. You made money, you are happy, but normally people like listening funny stories, exchange compliments, being asked questions. Not prices. If someone seems to like these stories they tell this interlocutor is simply false and he tries to steal the scalper’s secrets, secrets that often do not exist. Intraday trading and scalping are difficult not because is difficult to trade and make profits. This is easy, there are out commercially available to everyone at least 100 methodologies that work. What is hard is to approach a life devoted uniquely to scalping and intraday trading. If you put an ordinary person in front of an audience and you blackmail him “scalp or I shoot you down” he will possibly make money for the next couple of hours. Then an ordinary person will turn tv on, open a book, call a friend, tell nice stories to his kid, read the today newspaper.
Another solution would be “I will scalp only if there is volatility”, but volatility is not that kind of thing that calls you on your mobile before landing on the markets, you need to stay all the day long in front of the screen to eventually find some volatility. And if volatility does not appear after 6 hours eyelids start to blink, voices are softening, the breadth becomes heavier and heavier. Or instead volatility is huge and you heart is running at the highest speed, no time to think or feel anything, just buy and sell. You will say that successful traders are cold blood guys, sure, you are right. But you cannot have a normal life if the market is choppy or too volatile because your mind is too engaged in prices. Only really superstar traders are able to cut themselves away from life and then become again themselves after the market’s close.
Trading is alike water drops that can dig holes in the rocks. Profits and losses bring a psychological burden on their shoulders that could crush the trader. It is why I like the most trading futures and stocks on a daily basis, because it seems to be a normal job. When you are in a business where everybody tries to be a superstar you start to appreciate to remain an ordinary man that every morning brings to school his little child.
The opinion I express here wants openly to be provocative but I am sure that you will agree that somewhere in this column is hidden a grain of salt. Both if you are an intraday trader or an overnight one you will indeed agree that life is life not hidden in your trading platform and that you cannot exchange a hand shake, a smile, a witty story with the average trade of your trading system.