A Rainbow of Emotions

These past few weeks trading has extracted a rainbow of emotions out of me, there have been times where I've wanted to jack it all in, times where I've been ecstatic with a result, and times where I've been left wondering where it all went wrong.

Of course, I've spent time in the past saying how you need to keep your emotions out of trading, that trading should be seen as a professional endeavor. But trading can be an incredibly personal experience. Yes, you might meet the odd trader online willing to chat with you about anything other than pleasantries, but really, the trader is thinking about what information you're trying to extract from them while simultaneously trying to extract information from you.

Game of spies

That's why when it comes down to it, I've never taken the plunge and bought a training pack from another trainer. Yeah, they may save you a few bob along your journey, for that alone they may be worth it. But at the end of the day, you'll be trading on the same trading floor as them. So the trading community hangs in a rather delicate balance. On the one hand, there are people willing to share 'startup' knowledge with you, on the other, traders just outright don't reach out to the community. 

I have to point out that these aren't criticisms. Purely observation from a trader starting out. The closest thing I can think of in normal daily life is asking a colleague how much they are getting paid.

Generally, though -and in contradiction to what I just said- the trading community is very welcoming, places like Geek Toy forums have a wealth of knowledge and information that you -must- research and look into at the very least.

There are blogs chronicling the journeys of fellow traders, those who went on to make it and those that fizzled out. There is knowledge to be gained in amongst the shrubs.

The Bookies are my Enemy... Right?

When browsing the communities and soaking up all the knowledge possible, one thing that constantly springs to mind is the poor value that normal bookmakers provide for the average "punter". or as they tend to be called in the trading (and matched betting) world - Mug bettors. When you do eventually make a bit of cash from them, your account tends to become limited in one of many ways. This is known as getting gubbed. However, when you look at it, bookies provide great value to traders. Price variations on the exchange can be the result of bookies not pricing up correctly, causing others to follow, and the exchange to move in that direction too. Then when the event gets closer to the off the market bends back into its correct alignment, providing ample opportunities for the savvy trader.

Then there's Arbing but that is a different story in and of itself.

Greens along the ladder

Ahh man, it feels good to get some decent greens. I'm not talking about vegetables here either. Nothing beats the rush of a textbook scalp. The way your orders on both sides of the book get hoovered up by the market, it's pretty rewarding. But then there's the frustration of it going against you. I say frustration, I’ve learned to control my emotions more when it comes to scalping, dropping emotional orders into the market is bad for business


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