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I love to trade. 10, 20, 30, 40 round turns per day - the more the merrier! After all anyone who is really honest with themselves will admit that we trade not only for money, but for excitement. For a trader there is nothing sweeter than having the market go your way. Its our drug of choice and we are all junkies to one degree or another.
Trading is first and foremost a passion. How many jobs do you know where people can't wait for Monday (or in our case Sunday night)? We are all fortunate to be involved in an enterprise that we care so much about and enjoy. But trading is also a business. And the cold hard, truth of the business of trading is that the more you trade the more you lose.
Of course there are exceptions to this rule. Some traders are extremely adept at high frequency trading and can churn out profits doing 200 round turns per day. Those traders, however, are few and far between. I call them the idiot savants of trading because they tend to have a supernatural feel for price action. For the rest of us mere mortals. rapid trading is usually a suckers game. Many times have I booked hundreds of pips of profit in Europe only to give them all back during North America trade.
The reason why frequent trading is so hard is because most of the time price action is random. The more often you enter the market the more likely you are to step in front of some monster order on the other side and get rolled over by the flow.
While it is all good and well to pontificate about discipline and patience it is also utterly unrealistic to expect us flawed human beings to follow such advice. That is why it is crucial to have a garbage account in which we unleash all of our gambling instincts without doing any serious harm to our net worth.
With so many brokers now offering micro lots, the creation of a garbage/gambling account couldn't be easier. They key is to make sure your well reasoned. disciplined trades go into you real account, and all your impulse trades go into the garbage account. If we can't realistically follow the dictum of Trade Less Win More. we should at least attempt to minimize the damage of our cravings.
Here is this weeks video including the Trading Live with Boris trade.
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