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He/she also said: "There is a difference between knowing the path, and walking the path" So, the obvious pre-requisite is the path. If you set off on the right path, and follow it correctly, you stand a chance of making good money. There are so many approaches (paths) you can take in trading...

It could be but I don't think so. If your approach/thinking is intrinsically flawed, then no amount of experience (repetition and refinement) will make you successful. I know a guy who plugged away at it for years. He gained loads of experience but had no money to show for it. :D

OK, so what could that pre-requisite be? a) Knowing how the market operates. It's just a market of buyers and sellers, right? With market makers, and the like, acting as intermediaries. b) Knowing what causes price to go up and down. It's just supply and demand, right? Price rises when the...

"What every trader has to realise, is that all the risk management and position sizing techniques in the world are of no use what so ever, unless the trader is aware of the obvious pre-requisite to trading any market." Breaking this down: risk management and position sizing, alone, won't make...

I wonder what its electricity consumption would be if it got anywhere near $100 trillion. :D

But it may help if you are "aware of the obvious pre-requisite to trading any market" before you start doing it. Perhaps too much focus, in this thread, has been placed on the "obvious" and not enough on the "pre-requisite"?

If a truly exceptional profitable approach to trading does exist... No-one, who is in possession of it, is going to reveal it. They've probably paid a lot in "learning cost" to discover it, or they have have sworn an oath, to whoever let them in on the secret, not to share it with anyone else...

Sadly, I know only too well the answer to this. :banghead: Opportunity cost. You start trading/investing (aka gambling) with $50k, and 17 years later you're down to $10k. You've lost $40k, right? Wrong! You've also lost 17 years of opportunity where your capital could have been growing. I...

If it requires a book to explain trading then it's probably being overcomplicated.

You live up to your name. :D There are 65 million people in the UK. 100 x 65 million = 6.5 billion. That's virtually the entire population of the world.

OK, here's an idea. FACT: virtually 100% of Bitcoin's electricity consumption ends up as heat energy At the moment, most of this heat is probably wasted. But what if it could be put to good use? Eg. heating people's homes, shops, offices, factories, swimming pools etc. Using Bitcoin rigs...

If it keeps doubling every year, as it has done over the past 5 years, then it won't be a "tiny sparrow" for long. Jan 2021 - 0.5% of total worldwide electricity consumption 2022 - 1% 2023 - 2% 2024 - 4% 2025 - 8% 2026 - 16% 2027 - 32% 2028 - 64% Now, maybe it won't keep doubling. Maybe the...

Hardly much of a comparison. Bitcoin's annual electricity consumption is over 40% of the total UK annual electricity consumption. Or put another way... The electicity consumed by Bitcoin in a year could power the entire UK for 5 months.

Bitcoin's estimated electricity consumption has increased 30-fold in the past 5 years. (Roughly doubling every year) Source: https://cbeci.org The current estimated annual consumption of around 120TWh is about 0.5% of total worldwide electricity consumption. If it keeps increasing at the...

Yep, the Darvas method still makes a lot of sense. Although Darvas was a longer term trader. Not sure if it would work with daytrading.

Pure guess: Buy Breakout and Reverse if Required Sell Breakdown and Reverse if Required

You're instinct, and timing, couldn't have been more spot on. I'm still hopeful, though, that we're only about half way through this gold bull market.

Congestion (FWIW, I don't think the "obvious" the OP was referring to was a specific technique/method. It was something so simple (and blindingly obvious) that it would be overlooked/dismissed by most people.)

I had a read of the factsheet and it looks quite interesting. https://notes.credit-suisse.com/api/DocFile/GetFactSheet/GLDI

The obvious pre-requisite to (successfully) trading any market is you first need to discover an approach which will actually make money. Without that, all that risk management and position sizing do are slow the rate at which you bleed.