You Call Yourself A Professional Trader ?

By | July 21, 2015

You know you’re a lyin’ lowlife, motherfuckin’ gamblin’ degenerate prick? You know that’s what you are? – Nicky Santoro in Casino (1995)

Trading seems to me to be the only career where anyone can claim to be a professional without being challenged. Just think for a second. It’s actually against the law in most countries to go around calling yourself a doctor, teacher or a lawyer without having the required credentials. Not so in trading; we’ll just take one’s word for it.

Also unlike other occupations, it seems to me that anyone who dabbles for a while with anything even remotely associated with trading and finance can call himself a professional trader. It doesn’t matter that you’ve worked in sales or as a journalist, in order to attract gullible people to whatever you’re selling, you can call yourself a professional trader. Who’s going to say that it ain’t so ? To realize how messed up this whole situation is, imagine how it would be if the receptionist in a doctor’s office would take it upon herself to treat patients.

I think the leading cause of financial disablement is the belief that you can rely on the experts to help you. Typically, however, these so-called “experts” are not traders. Your average broker couldn’t be a trader in a million years. More money is lost listening to brokers than any other way. Trading requires an intense personal involvement. – Michael Marcus in Market Wizards

You wouldn’t put your health in the hands of a guy just because he says he’s a professional. You wouldn’t let a team of people build or redecorate your house just based on a handful of unverified testimonials. You wouldn’t learn how to fly a plane from a self declared expert with a nicely designed website. Then why treat trading any different ?

8 thoughts on “You Call Yourself A Professional Trader ?

  1. Maza

    I this a retaliation to fxkeys recent post? if so it would apear both parties have stooped to the same level good luck to both of you.

    Reply
    1. JLTrader Post author

      This has nothing to do with fxkeys. I wasn’t even aware of the post you’re talking about until I saw a link in the comments. But for your information, when you’ll see me use a fake name and picture and write the kind of lies I debunked in the 2 articles about fxkeys, only then should you say that I stooped to the same level.

      Reply
  2. Pedro

    That quote from Casino is spot on ! I can picture Joe Pesci delivering that line to the likes of Nial Fuller, Chris Capre and the rest of so called professional traders :))
    The public should question more and not take everything these guys say at face value

    Reply
  3. Just GJM

    Can we ask if you are a professional trader? With no disrespect, just an honest question. Are you making money trading?
    BTW, I do enjoy your blog :) regardless of who what or where you are :)

    I have an idea… You have a good number of readers. Lets have a 6 month trading compo. Most demos run for more. I have an 8 month old tf demo.

    We all put our accounts on myfxbook and off we go… what you say? Cmon lets do this. Winner gets a beer/coffee 2dollar paypal payment from every entrant that finishes the ascribed time with a negative or blown balance.

    Pleeaaase! You have the readership for this! And it would be loads of fun!!!

    Reply
    1. JLTrader Post author

      I don’t consider that I am a professional trader – I call myself an independent trader. In my mind, professional traders are those guys working for hedge-funds or managing other people’s money in some different arrangement and making a lot of $$ from performance/admin fees. Yes I do make money trading, but not every week or every month.
      I’m not into competitions, sorry.

      Reply
      1. Just GJM

        Hmmm, you were 1000 euros down about last of the live account…they were all brief in and out almost uncertain looking trades. please forgive my skepticism 😉 I personally traded well in 2013 for a number of months… doubled capital in just over a year, using BWILC, and yes I had the capital to trade BWILC back then; then I blew my entire account over two days when I skipped my schizo meds(jokes jokes) no but for real I blew my entire trading acc. in two days. Now back surviving on a little rpinting business, and no I cant print money…. 😉 I will try again one day, tho I do have two live accounts, both in good profit, one is globaltrader acc, old java platform, and other is fxcm. FXCM my goal to keep it making money for 6 months, then will put it up on myfxbook(if it lasts that long). BWILC is for real and Dirk is the real deal. Amazing book.

        Reply

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