{"id":38088,"date":"2015-04-18T04:28:48","date_gmt":"2015-04-18T11:28:48","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=38088"},"modified":"2015-08-14T10:01:23","modified_gmt":"2015-08-14T17:01:23","slug":"trading-for-fun-will-get-you-fired","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/ask-al\/trading-for-fun-will-get-you-fired\/","title":{"rendered":"Ask Al: Trading for fun will get you fired!"},"content":{"rendered":"

BPA trading room discussion: April 14, 2015<\/h2>\n

Discipline—While discussing trading opportunities in a tight trading range, Al talked about how trading just for the fun of it will get you fired — if you worked for Goldman Sachs! If you are your own boss, you will simply exhaust your account balance.
Audio duration: 2min 11sec — Scroll down for image<\/em><\/p>\n

 <\/p>\n

Audio transcript<\/h2>\n

Trading is fun when you win, but to me, I never lose sight of the goal. I\u2019m in this for the money. And I \u2018m not embarrassed to say it, that\u2019s my job. My job is to make money. I\u2019m good at it, and I stay focused. I just keep trying to do things and only do things that will accomplish my goal. Yes, it\u2019s fun to trade and it\u2019s fun to do something and say \u201cOh I wonder if this will work. Oh boy, that\u2019ll be fun if that worked\u201d. To me it\u2019s kind of disrespectful of myself and of my profession. I\u2019m proud of what I do. Feel like I do it well. And I do take pride in what I do. Doing things that are unprofessional, amateurish, or entertaining doesn\u2019t fit my image of myself and of what I am trying to do.<\/p>\n

\"Ask-al-es-chart-trading-for-fun-will-get-you-fired\"<\/a><\/p>\n

And if I were working for Goldman Sachs<\/a> it\u2019s easier to do the right thing because you\u2019ll get fired if you screw up. Here, I am my own boss, and obviously I like me and I\u2019m not going fire me. But, on the other hand, the \u2018worker Al\u2019 has to be responsible and respectful of what the \u2018employer Al\u2019 expects of him. I know it\u2019s kind of odd to hear me talk about myself in two different roles, but in fact, that\u2019s what it is<\/a>. I am my own supervisor, and I as an employee do not want to do something that would get me fired. And if I was working for Goldman Sachs, I could not on bar 76 say \u201cOh I wonder if I sell that\u00bb, or on bar 72 \u00abI wonder, oh maybe I\u2019ll buy that. Maybe I\u2019ll get a home run and get a big bonus\u201d. More likely you are going to lose money and at the end of the year you\u2019re going to get fired.<\/p>\n

They don\u2019t want you taking whimsical trades that are entertaining and feel good. They want you to only do things that make sense and have a statistical basis—a reason—a mathematical reason to take them. A likelihood that you are going to make money if you do that trade ten times. At the end of ten trades, will you be profitable? Yes, on any of these days you can buy or sell and you can make ten points. But if you take that same trade on ten days, yes, you\u2019ll make ten points on one day, but you\u2019ll lose four on another day, two on another, and you\u2019ll end up losing more than ten points. So better not to do it.<\/p>\n

Al Brooks<\/em><\/p>\n

Information on Al’s Online day trading room<\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

BPA trading room discussion: April 14, 2015 Discipline—While discussing trading opportunities in a tight trading range, Al talked about how trading just for the fun of it will get you fired — if you worked for Goldman Sachs! If you are your own boss, you will simply exhaust your account balance.Audio duration: 2min 11sec — […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-38088","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/38088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=38088"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/38088\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=38088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=38088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=38088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}