Drinking and Trading

[markl67 10]

Anyone ever try trading with a good buzz going on...?

[zapisy 10]

I think that the more you drink, the more careless you become - happy-go-lucky.

So I presume, that your stop loss, will probably disappear, or will be moved to a dangerous point

 

If you drink, don't drive.

[ziebarf 10]

I subscribe to the Paul Tudor Jones two drink minimum rule. Well for SIM trading, not deutsche mark currency futures at 4:00 AM. Sorry, I just watched his documentary last night.

[JEHs 10]

Anyone ever try trading with a good buzz going on...?

 

I don't think alcohol would be my inhibitor of choice to try trading with...

 

But I haven't smoked anything it 25 years and would even know where to get the stuff. I suppose I would ask one of my kids... Not worth it.

 

Now I enjoy a drink, (preferably with my wife), and I enjoy trading but not at the same time...

[markl67 10]

Funny, I've played this trading chart game, and I'll be damned if I don't knock it out of the park after a couple drinks vs. completely sober...

 

http://chartgame.com/play.cgi?8ndkhv

[StevenChase 10]

I would never drink and trade. Never.

[Cruiser 10]

I've never drunk while I was doing my past office job and I'm not going to be drinking when I'm doing my trading job either. I think it would be a bad idea for a multitude of reasons.

[b4gt 10]

Funny but this thread reminded me this.

BBC News - Drunk trader banned for buying 7 million barrels of oil

 

As for me, yes I drink while I do anything related to trading. Gallons of coffee.

[Tradewinds 12]

People use alcohol and drugs to "self-medicate". They feel a need for something external, outside of themselves to meet a need. It could be anxiety, depression, the need to relax, wanting to have some fun, wanting to feel better, etc.

 

If fear is keeping you from trading correctly, then alcohol could lower your inhibitions based on fear. The market rewards risk, not safety. So as long as you have a good fundamental ability to make good trade decisions, lowering your fear might help.

 

I'm not suggesting you drink and trade. I'm just explaining the psychological dynamics that might be happening. In fact, I suggest that if you want to use alcohol to deal with the fear in trading, that you look for other ways to deal with the fear. Mostly a well defined set of rules that you have tested in simulation, and know that they make money. Use that to modify your mental and emotional state.

 

You need to have SOME fear while trading. Or maybe not fear, but concerned alertness. It's like guys who insist on doing wheelies on motorcycles with no helmet on. Sooner or later you're going to get your brains bashed in. Have a healthy respect for the danger in the market.

[russelltrader 10]

I've seen alot of stupid drunks but I've yet to see an instance when drinking makes anyone smarter or enhances their acuity.

[enochbenjamin 10]

I subscribe to the Paul Tudor Jones two drink minimum rule. Well for SIM trading, not deutsche mark currency futures at 4:00 AM. Sorry, I just watched his documentary last night.

 

I've seen the documentary and its pretty clear that he's chugging cans of Bud while trading at 4AM! But then again thats Paul Tudor Jones and there is only one Paul Tudor Jones.

[hal698 10]

Drinking as a recreational sport has never been one of my activities, but I know people who wouldn't have it any other way. If you do decide this is a good plan, please post your trading results.

[Trader Nick 10]

LOL!! sounds like a dumb idea, but funny as hell for considering it!

[mccullek 10]

I think it is an excellent idea, and I have heard that many poor traders turned the corner after doing so. Ya'll all drink up and get after it in the ES please!

[mccullek 10]

I think it is an excellent idea and I have heard about many losing traders turning the corner after getting buzzed before trading. Give it a try in the ES, as that's where it works the best!

[MadMarketScientist 11]

This has to be one of the more entertaining threads.

 

What I think is missing is nobody is sharing their drink of choice. It's like when someone posts here and boasts about their trade success but then doesn't give any details on their system

 

"If" I was to drink while trading I think I would keep it simple -- an Absolut Citron & Tonic with a lime. Smooth and long lasting.

[BlowFish 10]

I find trading interferes with my drinking. Every now and then doesn't hurt provide you limit it to one or two trades. If you find that you are putting on a trade rather than freshening your drink you probably have a problem.

[DaKine 10]

This is what happens when you drink and trade! Drunk trader banned for buying 7 million barrels of oil

[markl67 10]

This has to be one of the more entertaining threads.

 

What I think is missing is nobody is sharing their drink of choice. It's like when someone posts here and boasts about their trade success but then doesn't give any details on their system

 

"If" I was to drink while trading I think I would keep it simple -- an Absolut Citron & Tonic with a lime. Smooth and long lasting.

 

LOL - Gin and tonic here...

[DaKine 10]

french connection two limes on the rocks please :cheers:

[Reaction Man 10]

As someone with a history of dependence problems in the 80's & 90s (then & NA & AA)...i can tell you (from my experience) my judgement is immediately skewed after a beer or glass of wine or anything else. I talk from my experience only but should add that i worked in the futures industry under the influence of narcotics for over 15 yrs (but was much younger).Retail trading at home from a screen is infinitely harder. Perhaps i can suggest Alexander Elders book 'Trading for a living' which deals with the much underrated topic of trader psychology.

[Cosa Nostra 10]

Hah, it is not possible, i tried it - and the result was always very bad, so now i am not doing it )))

[Forex Quant Chix 10]

i will trade first before drink..specially if im expert in trading i finish my class.more than a drink i will make.lol

[MadMarketScientist 11]

Drinking and ANYTHING never produces good results!

 

MMS

[Cosa Nostra 10]

Drinking and ANYTHING never produces good results!

 

MMS

 

Only troubles))))And feeling the shame in the morning:rofl: