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You use terms we probably don't have an agreed definition for and I'm not sure I understand you. However, what I am saying is if you buy something at 10,000 and it goes up or down 1000 and you hold it until it goes back to 10,000, you've made zero. If you buy at 10k and it drops to 9k, and you...

As a retail trader, I take some encouragement from this report. Firstly, he isn't a failed retail trader. Secondly he's not teaching retail trading.

Its not a matter of ability, its just maths. for the last 9 years we've had a bull market in the S&P etc. Buy-and-hold is a life-time strategy so 9-year periods are not a suitable accounting period to measure the strategy's success. The last 9 year period is certainly not typical behaviour of...

No, this is delusion. I understand the long-run return on the S&P is about 5 and a half % per year.

Thanks Murray. I'm not looking to buy a trading system at this time but if I was I would have to understand it much better than is possible after watching your video.

I'm not sure what point you're making, your answer is hard to understand.

I agree with that. But what I'm referring to is the context of the OP - an automatic calendar-driven re-balancing of everything he has in his portfolio, let's say monthly, or let's say annually. What I say is any position which has become free of risk to account capital should be excluded from...

Investing (in anything) is inherently a long-term trend-following strategy. So I'm sure you will have done fine out of the US equity markets for the last several years. Indices rise over the long term as we all agree. However, where an instrument does not move in a straight ascending line, the...

Why close a position at all that has got so far into profit that it is now risk-free? Take that one completely out of your balance judgement. In fact, if its still trending in your direction, add to it. We're here to make money after all. You can't make too much of it.

Well realistically, trend following is not rocket science. Anybody with a chart can do it, even me. I've posted on this often enough but very few traders believe that serious money can be made from trend-following. Beyond that I've posted often on pyramiding winners, which most traders regard as...

The only statement I intend to post is "In an uptrend be long, in a downtrend be short".

I don't know if running winners makes any sense in the day-trading time-frame. That might be because I don't go anywhere near day-trading.

I was indeed long with multiple pyramided positions on the Dow, the Nas100 and the S&P. These all got stopped out as price fell back and hit my trailing stops, and I was happy to bank the profits. I didn't predict the top, I can't reliably draw tops and bottoms ahead of price. But as I always...

Missing out on the uptrend that the US indices were in up to the end of January is hard to understand.

In a way it doesn't really matter, because the smart thing is to follow what the institutions do as they have the capital to move price. So, if they are pushing the price higher, I can go long in my tiny tiny trading account, and there is nothing they can do to stop me making a profit.

".....the majority of homeless people do enjoy their life......" This is a new one on me. But perhaps when others use the term "homeless", you think they mean "non-domiciled for tax purposes"?

Bonuses should never be paid to anyone for simply doing the job they're employed to do, only for achieving more than their contract required. And I'd love to know who had the bright idea of linking bonuses to share prices - the worst idea to hit business in years.

Bejabers! I just follow trends. Until they stop.

So you have rules that define a particular set-up and rules that cancel the set-up's entry indication.

So you observe what the market does and respond to what you see. How is this discretionary?