Don’t Treat Trading Online Like a Video Game
Online trading may look like playing a video game but let me assure you that it is far from it. If it was just a video game then the new generation of traders would be the most skillful on the planet. Instead, and I apologize for being so blunt, those who treat trading like a video game are creating the next generation of suckers and losers.
The idea for this article came from a chat I had with someone on the broker side who said,
For many young traders it is like a video game, shooting at red and green bars.
The focus on video games got me thinking about Pac-Man, one of the old and historic video games. Â In this video maze chase game, the objective is to eat all of the dots placed in the maze while avoiding four colored ghosts who pursue Pac-Man.
I had trouble getting the image out of my mind of Pac-Man being the market looking to gobble up traders as they pursue the elusive goal of making a profit before getting swallowed up.
Reality check
The reality of trading it takes hard work to develop the skills, discipline and risk management (i.e. using stops) skills needed to survive in a leveraged trading environment.
It is easy to get suckered in by stories of meme stocks, cryptos which no one has everof, and the latest trading craze promoted on social media.
Treating trading like a video game is like looking for a get rich scheme. It is more like gambling than trading and we all know how that works out. The more you try it the more likely you are to come out a loser.
So, the bottom line is a warning that trading is not a video game although at times it may feel like one. It is more like war where the winner is more often than not the one who doesn’t counts on luck and the side who enters battle most prepared.
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