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Very much agree, RN. But the truth is: most strategies people try are not much better than random in the long run. :)

Danger of random gratification at it's "best". Happens often in trading.

"Big money" patterns are the same every time they act?

Not more than training of whatever other skill is a waste of time.

I googled motley fool. Nice domain name, it's an asset by itself. :)

Late 90's must be a textbook sample of how people confuse external conditions with skill. But can we blame them? Russia as a country did just the same in 00's. :D

Being a retail trader myself, I must say that seriously underestimated the true risks of the game. Anything but net long options or long-term investments (without much leverage) is really dangerous and can push trader to NEGATIVE balance quickly. People think it's rare so not going to happen...

My personal experience is: edges exist. Probably now as well as always did. But every time I found some, it later ceased or morphed. Not saying I am the showcase sample, but nevertheless, 10 years of practice in trading should mean something. That's why at one moment I realized it's not very...

One problem here with definition (and expectations about future). It is: period of consistency matters. Trading certainly can be a sole source of income, but for how long? What edges are "timeless"?

You are right gentlemen, my literature talent must cause inexpressible suffers. :D

Will post here those of written by me, which are somewhat related to behavioral economics/finance and as such, to trading and investing as well. One man lived on a lonely island (nobody knows how he got there, even himself, most likely his ship crashed, he survived, but lost memory about the...

Yea, thanks, I posted @ BM too. More interested in personal stories of failure, problems etc. than finger pointing at vendors though. Vendors and scam artists are serious source of deterioration of course, but not the major one in my view.

I revived the project related to the topic of this thread. If you have stories to share with people, please let me know. By doing so you certainly help others as well as yourself. When we express and discuss our problems, we often find solutions in the process. I'm going to do my best to help...

I really see a problem here. How many people lost money or worse - YEARS of time pursuing some techniques, which probably have nothing to do with real edge? You all witnessed my own path through ups and downs. Streaks of profit, which were justifiable with CLT (statistically significant in...

Thanks for the kind words, Michael. Funny, but I firmly believe it IS possible. Just not the way it's pumped in the advertisements of those who benefit from that. It surely is lucrative business for brokers, money managers, vendors, authors etc. Stock market is historically the best vehicle...

Ironically market can be almost sure money in some situations and almost surely a losing venture in other. That's my experience.

If speaking of trading, I spent nearly 10 years learning and trading with mixed success more or less full-time. Some edges were very real (heavily mispriced binary options in 2005 as a perfect sample), some ceased to exist, so probably were temporary waves of large directional moves somewhat...

I am grateful to life for every lesson given. Result is always positive if we learn something. I still believe there are edges in financial markets, but easiest are probably those described in "Random Walk Down Wall Street" and similar works (basically a bet on evolution of whole civilization...

Yes, everyone of us experiences competition in business or even job, but still there are options: find more or less unique niche, use your strongest traits, implement innovations etc. Trading or poker is basically a can of spiders: who eats who. Competitors in business can co-exist having...

I would say real edges scalable enough for good living are much more common in providing something people need/want and ready to pay and say "thanks" for that. Neither poker nor trading are such occupations. Obviously it is much harder to extract money from someone who doesn't want to spare...