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Trading while drunk 11 replies

Question for you guys: What do you need advice on the most? 12 replies

My Money management, and drunk monkeys. 9 replies

Do you guys trade better when you are drunk?

  • Post #1
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  • First Post: Jun 30, 2020 12:50pm Jun 30, 2020 12:50pm
I got half a mind to experiment.

What's your take on drunk trading?

PS. I got the idea looking at some of your calls.
Temperance (restraint in action, thought or feeling) is a virtue.
Quoting HiddenGap
{quote} ...TRADING IS A BUSINESS. The trading arena is filled with the smartest, the best capitalized, and the most informed individuals. They are highly skilled, emotionless, and disciplined. In short, they are professionals....

Got a wigga, can hook you up with some Cali weed.
puff some leafs 'till you sleep.
wake up in the AM,
taking the time to perfect the beats.
Laid back in your shack,
take the (h)edge off. No hitch.
beat the thugs at Goldman Sach
Party with your low-low bitch.


How's about that?
Temperance (restraint in action, thought or feeling) is a virtue.
LOL Trader buys $520m of Oil futures while drunk.

Quoting diceman555
On June the 30th 2009 oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event. {image} The amazing, true cause of this price spike has now been released by a Financial Services Authority investigation (FSA). Although not authorised to invest company cash in trades Steve Perkins, a long standing, senior broker at PVM Oil Futures, had managed to spend $520 million on oil futures contracts throughout the night. On the morning of...

https://www.forexfactory.com/showthr...13#post8039313
Temperance (restraint in action, thought or feeling) is a virtue.
I don't think you should do that, because the result can be unpredictable. Every person in this state behaves differently. Some people become sleepy, some begin to show some aggression, some get too excited.
And all these states make meaningful trading impossible, because trading should take place with sober mind, especially when making important decisions, which a trader constantly faces. If he wants to sleep at least a little, he risks to make a wrong decision, to lose the concentration, which is so important. If he starts behaving aggressively, the worst consequences can be expected up to the damage to his property and complete loss of deposit.
Many people are drawn to various feats after alcohol and in its role can be just a huge lot of deal for quick enrichment. The same can be said about the elevated mood on the background of alcohol consumption. It still eclipses the mind, which should remain clean, because the trader is essentially a robot-machine, which is required to maintain high performance.
Therefore, I believe that it is better to turn off the terminal for the time when a person consumes alcohol, let alone give up alcohol before the most important trades and situations. There is nothing worse than to take a considerable dose of alcohol and start active trading.
You forgot another state that some people enter when they're drunk. Calm, ambivalent, care-free, fearless.

I'm not saying everybody feels those emotions but some people do to one extent or another, so it's not quite fair to just disregard the whole notion.

Trading while blackout drunk is obviously stupid, but trading with limited inhibitions is something to consider.

Lux
MT4 EA, Indicator and Alert Coder Since 2006
Better with weed!
Do you drive well when you are drunk? I quess not. Trading requires logical reasoning and decision making ,and one needs to be completely in control of his emotuons. A little alcohol itself isn't bad as it stimulate the brain, but it become counter productive when one is intoxicated with it..that reminds me of the saying "money and greed, women and wine are the things a young man should guard against"
  • Post #8
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  • Edited 8:26am Jul 3, 2020 5:37am | Edited 8:26am
When I opened the thread and for the first two posts I actually was drunk, after a good session. I believe alcohol is NOT the solution at least because it can be unpredictable in its effects even for a same person, and during the course of a session.

Years back I lost a lot of money trading. I want to try again. Purely discretionary. (system traders would call my approach gambling; I consider their practice undignified and moronic, argument closed)

My calls got to be great years back, in the later period I traded, but I kept losing money because by then I was an emotional wreck. Now, my calls are still GREAT (hence my drunken jab in OP at some calls I see posted here seemingly coming from drunken people ). Even with demo accounts I still underperform massively due to emotions (in large part). I'll open a thread in the Journals section about my progress.

---- While I'm aware that there are more conventional steps I could take, I do wonder if some mood stabilizers or similar psychoactive drugs could be of help. Any of you have experience with those or weed?





EDIT. I just noticed, in my third post, the episode described in the story, happened on the same 30th June day (my time), I made the post, 11 years ago!
"What are the odds?! Must be one in a million!" Homer Simpson

PS I sometimes go back to check things... ideas...
Temperance (restraint in action, thought or feeling) is a virtue.
Quoting Endoephemera
When I opened the thread and for the first two posts I actually was drunk, after a good session. I believe alcohol is NOT the solution at least because it can be unpredictable in its effects even for a same person, and during the course of a session. Years back I lost a lot of money trading. I want to try again. Purely discretionary. (system traders would call my approach gambling; I consider their practice undignified and moronic, argument closed) My calls got to be great years back, in the later period I traded, but I kept losing money because...
With weed emotions are amplified, apart from the joke, I do not recommend it
Trading requires much attention and an alert mind. Trading when you are drunk will let you lose nothing else.
Quoting Endoephemera
I got half a mind to experiment. What's your take on drunk trading? PS. I got the idea looking at some of your calls.
I have never tried it. But you will definitely lose money if you do that
Diet Coke plus Campari liqeur. I am a functional drunk. If i trade sober I lose.lol
You might get lucky while trading under the influence of alcohol but one thing is for sure you'll lose concentration if you drunk or high and we all know how important concentration is for a trader.
Many people who drink, especially those who drink regularly, will tell you: "We drink in order to relieve stress. Hard work every day, the market behaves unpredictably, the risk level is high, it's terrible to lose money". Relieving stress is the most common reason to use alcohol. We all remember the footage from the movie "The Wolf of Wall Street" and how traders were relaxing there.
A large dose of alcohol - at this moment all mediator systems begin to suffer, everything happens very differently here, because after all, our brain is individual. Someone at this moment can become very aggressive, someone, on the contrary, will fall into crying and depression. Anyway, it happens in different ways.
If a person uses alcohol frequently and regularly, that is several times a week, at least in average doses, then addiction begins to develop.
So if you have problems with alcohol, then you shouldn't do such a hard and tense thing as trading. And personally, I also prefer not to mix alcohol with trading, as the result is quite unwelcome. If you have already started drinking, then don't trade that day, and perhaps even the next day, as the hangover also prevents you from thinking normally. And on the contrary - if you have already started trading, then until you finish - you shouldn't start drinking. I think that's understandable.
I think coffee is the drink you should be having while trading, coffee makes you alert while alcohol brings up your creative side.
There are a couple of traders on another thread who make a tremendous amount of money trading and they are drunk all the time..
Forex trading is a business and as a trader you need to treat it as such. Of course you are your own boss however doing any type of drugs can be risky as when you are intoxicated you aren't thinking clearly anymore and may start to trade based off emotions rather than sticking to your trading plan. One important thing I have learned in my experience is to never let anything cloud my mind when trading.
Obviously not but I do not know about the others. I do not know about you but how can a person trade when they are drunk? If you have seen a drunk person then you should be able to tell that they are more like fools than grown people.A drunk person can barely walk let alone speak sense. They are therefore not able to make correct decisions. If they trade in such a state then they are bound to make losses. On the other hand it may be sheer luck and they earn lots of profit. It happens sometimes. Sometimes you just need to stop thinking seriously to get what you want. It does not mean thst it will work for everybody , do not try this thing for it may be your downfall.
LOL. Usually when you are drunk world is looking much better, so as a trader you might get too optimistic. My advice is to stick to reality and never trade when you are using alcohol. Would you agree?
Also, when you are drunk you turn bolder and you make decisions and take risks that your sober-self wouldn't allow.
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