Consciously or subconsciously every trader involved in the financial markets and trading gets what they want.
Everybody gets what they want out of the market – Seykota
The quote rings true for all sorts of different traders and market participants.
The markets, trading, the internet, they are all capable of giving you what you want out of the market.
Does everyone know what they truly want? Not necessarily. Some people think they want something but they truly are longing for something else. Other people are fooling themselves that they are actually looking for trading success.
Can your interests, and what you want out of the market change over the years? Absolutely. I have noticed changes in my own thinking, desires and trading over the years. It tends to be gradual rather than one big epiphany one day, followed by implementation the day after.
The newbie trader that just made a killing by breaking his trading rules and leveraging and pyramiding too aggressively will usually like to try his luck again by betting big again, over trading, attempting to catch the small intraday swings in the other direction with massive leverage as well. They start thinking they are trading gods. They think they have the midas touch. They start creating sudden needs. They start thinking about all the fancy toys they can buy.
The semi experienced trader experienced trader taking a five figure account to a nice six-figure account within one year catching nice trends, and proceeds to give all the profits back into the market . Happens in the year 2011 and happened back in the 1980’s.
Ed Seykota said of a trader he knew that kept on turning $10,000 into $250,000 within a few months, then wiping out:
I don’t think he can do it any differently. He wouldn’t want to. He gets a lot of excitement, he gets to be a martyr, he gets sympathy from his friends, and he gets to be the center of attention. Also, possibly, he may be more comfortable relating to people if he is on their financial plane. On some level, I think he is really getting what he wants.
The trader that wants to treat trading like gambling and bet the rent money on every trade, they are getting what they want. They want the excitement. They are looking for an alternative to gambling on poker or some other game in the casino.
The trader who wants to trade just to “kill time” and finds out that he is not making the type of trading profits that he has as his goals, gets exactly what he wants. He lacks the intensity, drive and discipline to attain the profits he desires.
The trader who barely likes to trade, but loves to post on the forums and racks up thousands of posts in a short amount of time, is getting exactly what he wants. They may lack the social connection in their lives and in their trading and get that want fulfilled by posting on the forums twenty times a day.
The trader that over trades because they believe that they need to be “working hard” and placing a lot of trades in order to make the big money is getting exactly what he wants.
The trader who is scouring the forums and tweaking their indicator settings searching for the holy grail is getting exactly what he wants. They are searching for the perfect trading system and believe that tweaking their indicators and searching all the forum threads for those secret indicators and settings will finally reveal the holy grail.
The trader who wants to win, who wants to truly be rich, who can absorb some pain and trading losses and learn a little bit, but lacks a bit of skills and knowledge will go find someone out there that can help them. They will go find the information about the foundations of every market that truly matter. They will then go and implement the knowledge and skills they develop.
Everybody gets what they want out of the market.