I honestly don’t know where the markets are heading next. I cannot predict where and when the top and bottom shall take place. But I learnt it hard way, what I should do "stay" or "quit" when price is traveling beyond my reference levels.

Sunday, May 27, 2012

We can't run from who we are!!

For a change, let me talk about a fascinating movie!

Movie is “Rounders” which revolves around poker game. Matt Damon plays the lead role and Edward Norton plays as his friend. I was randomly picking the movies and got this movie without even reading the plot. But, I started loving this movie the moment it started as it starts with below narration.

 “ If you can't spot the sucker in your first half hour at the table,

   then you are the sucker.

   Guys around here'll tell ya... you play for a living.

    It's like any other job. You don't gamble. You grind it out.

   Your goal is to win one big bet an hour, that's it.

   Get your money in when you have the best of it, and protect it when you don't.

   Don't give anything away “

Any trader would be delighted when a movie starts with such a voice over narration :)

Movie is about a law student - Matt Damon, die-hard poker passionate young kid. Gambling is in his blood to the extent that he can risk his term fee of law school in a poker game. One day he bets huge and lose everything at one shot. He quits the game and does part time driving for his survival and studies. But, things start to take a toll when his childhood mate Edward Norton joins him after released from his sentence. Circumstances push friends to a situation that they have to earn 15 grand in just five days time. Halfway in the process, they draw a wrong card and get hit badly. Friends split and finally Matt Damon is the lonely man who decides to finish the job to earn his reputation in the livelihood but his life is already in stake with just one day dead line.

Plot is simple but I liked the movie due to the poker game back ground, detailing in the movie and the catchy dialogues.

I believe every trader would like this movie. Matt Damon narrates the game, talks about psychological and emotional condition when you are in game, explains the importance of “sitting tight” to wait for your chance to beat your opponent and tells you when to “quit”, he talks about success and failure mindsets and a lot more throughout the movie.

As a trader, I could correlate with almost every dialogue in the movie. Some of them are here :)

Matt loses all his money in one go. His well-wisher consoles him.

“Man, I lost my case money. I lost my tuition.

 It happens to everyone. Time to time, everyone goes bust.

 You'll be back in the game before you know it.

 I'm done. I'm out of it.

 They all say that at first.”

Law school professor talks about his past and tells his student about following a passion. This gives Matt Damon some strength and he later decides to take the help of the game on a do or die situation when he is pushed to the corner. He gets inspiration from what professor told him.

"We can't run from who we are. Our destiny chooses us"

Matt is asking help from his senior poker player who is a well-wisher of him. He plays game for his survival and he has no other job. He is a full timer and a known pro in the clubs for his temperament and consistency. When he refuses to lend money to Matt, he gets angry and yells at his senior.

 “You see all the angles. You never have the stones to play one.

  "Stones"? You little punk.

  I'm not playing for the thrill of f*cking victory here.

  I owe rent, alimony, child support. I play for money.My Kids eat.

  I got stones enough not to chase cards, action...

  or f*cking pipe dreams of winning the World Series on ESPN”

Just wanted to share few dialogues but there are many more :).

If you are a trader, who trades with a passion rather than making money, then watch this interesting movie. Trading is a zero sum game. Money switches between the pockets of right and wrong traders on the given period. We always try hard to deny the sucker title. right ??!! :)

12 comments:

r m said...

Thanks assortZ! Very interesting movie, looking out for a print. :)

Sometime back another trader friend commented on the similarity between a professional gambler and a trader. I guess the only difference is that they use different set of business tools.

regards.
rm

mo h said...

good psychology presented in conversational language, assortz
:)
done well, thnks ...

yep, gonna be looking for a print me too.

mo h said...

the email sub checkbox appears only AFTER leaving the comment ...
they are not settled with *.in yet i suppose
:)

assortZ said...

Hi RM,

Grab the print and don't miss it :)

There are many common things such as emotion control, fear, greed, overnight fortune or sweep etc.

Hi Moh,

thanks :)

mail sub check box - i faced the same issue when i left a comment at sudharsan blog last night. G has to still sort this out.

jawaharlal bansal said...

Dear assortz,you should update daily your position on crude oil with daily MTM profit/loss.

assortZ said...

Hi Jawaharlal bansal,

am occupied with my profession.am trying to update crude oil position regularly.Updation of MTM is not in my list now as trade size varies and also am running short of time.

A J said...

Hey Assortz,
How are you doing. Looking forward to your posts.

assortZ said...

Hi AJ,

doing well! thanks! got some more responsibilities at office and fully occupied for a while..will take some time for things to settle down and sure will be back to blogging soon :)

howz life with nifty?

A J said...

Nice to hear from you mate.
I thought of dropping a quick comment to see how you are doing.

Left trading nifty, trying to seduce banknifty. Waiting for your return...

ISTHAMUS:: said...

Mr Assortz you inspired me for commodities also cleared some of my alphabet & doubts where are you all these days ........very long period please do posts ......waiting for you at blog

regards
Aardee

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