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ps. I probably need the help of a shrink, rather than fellow traders. :D

Thanks for the kind offer. If I think of anything, I'll ask.

300% in 6 months means you quadrupled your money. Quadruple it again, in the next 6 months, means you have x16, which is 1500%.

I wouldn't have the time available for day trading, and I'm not quick witted/nimble enough either. :D I quit trading a couple of years ago after losing badly but, if I do get back on the horse, I will trade off the daily TF looking to hold positions for a few days.

It would be the opposite of this (but it wouldn't be day trading). Hitch a ride on the roaring freight train or short the falling knife.

NY quipped that, if you're losing money, "reverse your order entry keys". So, what about reversing your entries as a losing approach? When your strategy signals a long entry, go short instead. When it signals a short entry, go long. I'd take my hat off to you, if you could make that...

Thanks RN. Sounds complicated.

Out of curiosity, what method do you use?

Interesting debate on strategy -vs- trader. schizo replied here: http://www.elitetrader.com/et/index.php?threads/the-tao-of-minimalistic-trading-300-daily-profit.296299/page-147#post-4242456

500 pages; 5000 posts. NY certainly wasn't kidding when he said it was not so obvious. :D

Indeed. Of course, your P&L will soon show whether you're any good at gauging odds.

I don't know what 5 words you are thinking of. To me, the obvious pre-requisite, in a game of chance, is to find a way of putting the odds in your favour. When the odds favour price going up, you go long. Vice versa for short. Some claim you can make money with random entry, as long you cut...

If you accept that trading is gambling, then this might make it easier to figure out what NY was driving at. What every gambler 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 gambler is aware of the obvious...

His followers probably think he's living the dream. 8 years full time trading and not having to work for anyone else. Actually, trying to make a living out of trading is probably a mistake many people make. Replacing a normal wage with trading is very difficult, especially if you haven't got a...

Correct. He's writing and selling trading material, and teaching/mentoring people. He's got a few thousand twitter followers. Last year was the first year, in 8 years, that he made any money but from teaching not trading. On the face of it, his credentials sound kosher until you delve a bit...

True story... A former colleague of mine quit the day job 8 years ago to go full time trading, mainly forex. He downsized his house to provide initial trading capital and money to live off. He lost quite a bit of money in the beginning but then became more disciplined. Despite toiling away at...

One of the most incisive posts in this entire thread. I didn't really get point 2, but 1/3/4/5 are absolutely spot on.

If you look far and wide enough, there is always, upwards or downwards, momentum occurring somewhere in the market. ;)

Well, I thought that was what this whole thread was about. :D Lately, though, unless I'm mistaken, it seems to have veered off into textbook/mainstream think.

OK, let me rephrase the question. Is the "obvious" a particular method?