Hello Ceeso,
it definitely takes courage and humility to create a thread with such title.
So I believe that you indeed devoted a lot of your life in it, “fruits of knowledge are sweet but the roots are bitter”.
Too many amateurs think they are the best after trading on a demo account for 1 month with a moving average system that has doubled their over leveraged demo account with only a 70% drawdown ! Then they go live convinced they are gonna make a great living out of it right away, while they are at best years away from it. Trading is one of the most difficult and hardest profession ever.
I am not throwing the stone here, I have been that amateur too.
You are absolutely right about the randomn distribution of the winning/losing trades and that money management is the foundation, without it nothing holds. I am saying that all the time around FF. But unfortunately I am always called the arrogant one, the “know it all”, the troll, while it is actually the opposite. I guess peoples have to learn it the hard way, after all that is why we are traders, because we are ambitious and better than others...
About the randomness of the market you mentioned, it is indeed a whole other debate which perhaps I might not agree, but I would be interested to follow up.
Cheers,
it definitely takes courage and humility to create a thread with such title.
So I believe that you indeed devoted a lot of your life in it, “fruits of knowledge are sweet but the roots are bitter”.
Too many amateurs think they are the best after trading on a demo account for 1 month with a moving average system that has doubled their over leveraged demo account with only a 70% drawdown ! Then they go live convinced they are gonna make a great living out of it right away, while they are at best years away from it. Trading is one of the most difficult and hardest profession ever.
I am not throwing the stone here, I have been that amateur too.
You are absolutely right about the randomn distribution of the winning/losing trades and that money management is the foundation, without it nothing holds. I am saying that all the time around FF. But unfortunately I am always called the arrogant one, the “know it all”, the troll, while it is actually the opposite. I guess peoples have to learn it the hard way, after all that is why we are traders, because we are ambitious and better than others...
About the randomness of the market you mentioned, it is indeed a whole other debate which perhaps I might not agree, but I would be interested to follow up.
Cheers,
LDFX Trading Ltd
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