Disliked{quote} I think you should, win rate is as important as all other aspects of trading because trading is governed not by statistics (history) but by probability (i.e. future).Ignored
2
The brutal truth of day trading
- #3,062
- Aug 12, 2021 2:56pm Aug 12, 2021 2:56pm
- Joined Nov 2020 | Status: Trader | 2,634 Posts
{quote} Makes me wonder why newbie should not be trying everything what brings other people success. They should try everything what is possible, "put own skin in a game". If they are smart enough and hardworking ,they will make better decisions for themselves. If they are stupid nothing is going to help them, they will fail, AND IT IS NORMAL. People this days do not feel responsibility for their own action. They Should. Protecting them against making mistakes is one of the worst scenarios in process of learning. Pain, frustration, anger and failures...
- #3,063
- Aug 12, 2021 3:42pm Aug 12, 2021 3:42pm
- Joined Jan 2016 | Status: I am not a trader | 1,238 Posts
- #3,064
- Edited 3:54pm Aug 12, 2021 3:43pm | Edited 3:54pm
- Joined Aug 2017 | Status: Trader | 1,609 Posts
- #3,065
- Aug 12, 2021 3:56pm Aug 12, 2021 3:56pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,066
- Aug 12, 2021 3:59pm Aug 12, 2021 3:59pm
- Joined Jan 2016 | Status: I am not a trader | 1,238 Posts
- #3,068
- Aug 12, 2021 9:26pm Aug 12, 2021 9:26pm
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
Here's what I will say to all this .....
"If I took half your brain out of your skull, could you STILL think and trade somewhat successfully and consistently? (YOU not an EA etc)
Without stupid pointless arguing, everyone knows the answer to this question. Probably not.
It's EXACTLY the same with trading. Why do you think people burn out, give up or simply run out of usable $$$ for their trading?
So I don't see how, IF, people are sticking to the basic truth of the above example, they are misunderstanding or miscalculating the necessary importance of proper thinking FIRST.
It's a misnomer that you have to be "tricky" or "devious" or "clever" to be capable as a trader. Notice I said capable not "successful".
If I know I am being honest and someone claims they "know better/different" yet I see no basic evidence of that know-how that aligns with mine, knowing what I have experienced and/or continue to do/use everyday, then it's no stretch to conclude either they are hiding something or they simply don't know/understand. The basic difference here is an exaggeration of ability vs simple ignorance. No judgment etc, just is.
You say "put up or shut up" but for me, I just contribute, or at least try to do just that.
A simple distinguishing trait - chosen ignorance vs basic/natural ignorance. This is where people are at some point, me included.
I learned long ago that small TF's may move faster but they are basically the same as the HTF's. And this is the part where other people will "disagree" or "comment". As you may. But so what. MY experience and understanding of these things is not something I wave around in people's faces. Only an egotist in the truest sense, thinks this way and so interprets it that way. And at times, it borders on sociopathic.
To me, fools interpret what is shared as being a gesture of superiority, but a true student of their activity is not interested in these things. They have learned these things are just games for children. There is no learning there, just distraction.
So while some people think this just ranting etc, out of ALL the responses one could give to all this, every person chooses how they will react or respond, it is EXACTLY the same in trading. If you cannot make this connection in your knowledge and understanding, then I sense you are looking in the wrong places for answers re: improving your own trading activities. Otherwise you're just like a kid in a candy store - looking for that next sugar rush re: trading etc on a site like this. Hardly what I call mature or gathering any self control.
I've shown plenty. Shared much. And said many times that TE's and the like are a waste of time. Either you know and do or you don't. If you have to "prove it" to the world then you have issues and do not respect your own privacy, therefore don't respect other people's privacy either. Of course I'm not talking about 'fundraising" etc, that brings its own situation to deal with.
So for me, it's not too difficult to observe certain things to see IF a person is one thing or another. Trading is the same, to the final letter.
Up is up and down is down. A turn is a turn. Children speculate and adults anticipate and respond. Of course I write this for those who want to learn something for themselves, not the usual "twisted tantrum throwers". And so while you argue and everything else, there's no introspection occurring. So I suppose those who've seen and realized that their thinking IS the root of what they will get out of their trading, it's funny for people to tell me to "get real". All I ask is this - how long have you been trying your hand at trading? How much have you learned that is self sufficient in ANY market environment? And what can you say you have learned that you take with you IF trading was banned globally tomorrow? You see, a person from ANY walk of life, appreciates that point because you cannot separate these things. So I would suggest to grow up as in - in REAL LIFE first. Trading exposes everything. How stupid or presumptuous a person is and all the rest.
It's hilarious how people want to argue about these things, as if THAT will change the basic reality.
That is the basic situation. Sorry if those people blinded by their misgivings "don't agree".
So I have no "guru" mental syndrome. Again, this is from the minds of people who lack the backbone to look deeper and further.
There are different types of "thinking". Go and research it for yourself and actually gain an understanding of yourself. Beyond that, who really cares about pretty pictures/charts and "live trades" and all the rest. I have to be general here because it's for the individual to have enough self worth to put the effort in and do the work.
In summary, trading "prowess" does not impress me because at some point, you just have to grow out of it and move onward.
Peter
(This is for those who need their sugar fix!)
"If I took half your brain out of your skull, could you STILL think and trade somewhat successfully and consistently? (YOU not an EA etc)
Without stupid pointless arguing, everyone knows the answer to this question. Probably not.
It's EXACTLY the same with trading. Why do you think people burn out, give up or simply run out of usable $$$ for their trading?
So I don't see how, IF, people are sticking to the basic truth of the above example, they are misunderstanding or miscalculating the necessary importance of proper thinking FIRST.
It's a misnomer that you have to be "tricky" or "devious" or "clever" to be capable as a trader. Notice I said capable not "successful".
If I know I am being honest and someone claims they "know better/different" yet I see no basic evidence of that know-how that aligns with mine, knowing what I have experienced and/or continue to do/use everyday, then it's no stretch to conclude either they are hiding something or they simply don't know/understand. The basic difference here is an exaggeration of ability vs simple ignorance. No judgment etc, just is.
You say "put up or shut up" but for me, I just contribute, or at least try to do just that.
A simple distinguishing trait - chosen ignorance vs basic/natural ignorance. This is where people are at some point, me included.
I learned long ago that small TF's may move faster but they are basically the same as the HTF's. And this is the part where other people will "disagree" or "comment". As you may. But so what. MY experience and understanding of these things is not something I wave around in people's faces. Only an egotist in the truest sense, thinks this way and so interprets it that way. And at times, it borders on sociopathic.
To me, fools interpret what is shared as being a gesture of superiority, but a true student of their activity is not interested in these things. They have learned these things are just games for children. There is no learning there, just distraction.
So while some people think this just ranting etc, out of ALL the responses one could give to all this, every person chooses how they will react or respond, it is EXACTLY the same in trading. If you cannot make this connection in your knowledge and understanding, then I sense you are looking in the wrong places for answers re: improving your own trading activities. Otherwise you're just like a kid in a candy store - looking for that next sugar rush re: trading etc on a site like this. Hardly what I call mature or gathering any self control.
I've shown plenty. Shared much. And said many times that TE's and the like are a waste of time. Either you know and do or you don't. If you have to "prove it" to the world then you have issues and do not respect your own privacy, therefore don't respect other people's privacy either. Of course I'm not talking about 'fundraising" etc, that brings its own situation to deal with.
So for me, it's not too difficult to observe certain things to see IF a person is one thing or another. Trading is the same, to the final letter.
Up is up and down is down. A turn is a turn. Children speculate and adults anticipate and respond. Of course I write this for those who want to learn something for themselves, not the usual "twisted tantrum throwers". And so while you argue and everything else, there's no introspection occurring. So I suppose those who've seen and realized that their thinking IS the root of what they will get out of their trading, it's funny for people to tell me to "get real". All I ask is this - how long have you been trying your hand at trading? How much have you learned that is self sufficient in ANY market environment? And what can you say you have learned that you take with you IF trading was banned globally tomorrow? You see, a person from ANY walk of life, appreciates that point because you cannot separate these things. So I would suggest to grow up as in - in REAL LIFE first. Trading exposes everything. How stupid or presumptuous a person is and all the rest.
It's hilarious how people want to argue about these things, as if THAT will change the basic reality.
That is the basic situation. Sorry if those people blinded by their misgivings "don't agree".
So I have no "guru" mental syndrome. Again, this is from the minds of people who lack the backbone to look deeper and further.
There are different types of "thinking". Go and research it for yourself and actually gain an understanding of yourself. Beyond that, who really cares about pretty pictures/charts and "live trades" and all the rest. I have to be general here because it's for the individual to have enough self worth to put the effort in and do the work.
In summary, trading "prowess" does not impress me because at some point, you just have to grow out of it and move onward.
Peter
(This is for those who need their sugar fix!)
Real Trading is not gambling.
- #3,072
- Aug 12, 2021 11:08pm Aug 12, 2021 11:08pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,074
- Aug 12, 2021 11:20pm Aug 12, 2021 11:20pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,077
- Aug 12, 2021 11:31pm Aug 12, 2021 11:31pm
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
What is important never Invest in 1 pip hunters. That is not scalable and can't be used for more than 100k capital because of divergence issues.
{quote} To keep it unbiased, I talk in terms of pips. To me, the first milestone is to bring a demo account to 100%. The second is to bring a live account to 100%. At that point, I'd say it's good enough, they've made it, and are a "profitable trader."
100% ROI. I assume annual returns on investment.
Which newbie has achieved that milestone ?
ZERO.
Not even the pros.
Know what you trade
- #3,078
- Edited Aug 13, 2021 12:59am Aug 12, 2021 11:54pm | Edited Aug 13, 2021 12:59am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #3,080
- Aug 13, 2021 12:12am Aug 13, 2021 12:12am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade