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The opening post prompts a restatement. Instead of looking to find an edge where little else matters about how a market works, its the other way around. Learning how a market works will make you realize that looking to find an edge, so-called, doesn't matter. So you get to know the metrics of...

I relate to much of the whole story in the complete post of FuturisticEel, told amusingly with heavy irony. In quick succession I had a number jobs over a relatively short period after my degree. I just left my degree in economics off my resume because I'd run into the objection by employers...

You wouldn't know. LOL. :)

So far in this thread you have not received applicable and clear answers. Probable contexts have been offered instead for the turn arounds from one swing to the succeeding swing in the opposite direction. If the aim is to take as much as possible from the maximum points a full daily session...

Yes, I agree, there have been a few tedious provocateurs, of no talent, who have opened threads to try and discredit daytrading. But your 'failure' thread and the many other 'failure' threads before you, do get the participation by ET members that is needed to address the many problems that can...

Yet another breast beating claim in your post. But it was you who directly opened debate with me on this thread. And your question doesn't require an answer as I wouldn't have repeatedly set out the principles for success if it didn't rest on the scale of my own success. And, yes, preying upon...

I have been in this business as a floor trader and subsequent CEO, so those of us who have taken riches from the market know that professional success formulae do not get offered on ET. You have tried selling your notions to an unsuspecting and naive public; need any more be added. :)

Threads on failure and the failure rate are very popular at ET and they recur and recur and recur. And they will go on recurring. The reason for these 'failure' threads is that ET is about progress. So where and why are we failing is a matter of prime importance. It relates to every amateur...

Lets look at the key elements of success in making youself rich from trading. And lets start by taking out of consideration the entire menu of sloth and defects of the individuals who are the 95% (or 98%) that fail. Recognition There is a general overarching desire to see anything but what...

There is a process in order to make yourself rich from trading. And to get real, there can be no success without a reliable methodology. Lets go to the principles required from your starting point. Learning 1. You need to start serious learning about the market. Choose a futures market in a...

There is an almost unbelievable lure to daytrading. This is examplified by a daily volatile market (eg CL) where the maximum reward is so high. Then add the fact that there is no barrier to entry other than a modest amount of money as your margin to allow trading at least one contract. Ok, so...

No offence, but it appears that many or most amateurs who start trading or who want to trade in markets are not savvy enough, bottom line. And its not whether you're better educated or not. You have to have plenty of savvy and a mind of problem solving capabilities. Then even with all that...

Interestingly, you refer to Monday June 13 (2011) where in CL the price gyrations provided even turnarounds between successive swings, thus helping to facilitate clear reverses from upswing to the following downswing (and vice versa). I am encouraged that in this thread there are a few who...

To clarify I am using the term 'points' to mean 'cents' in CL. Ten points = ten cents. One CL contract making 10 points = $100. And 200 points in the example I gave equals 16% of the days maximum. Pal, you are in the category of can't know or don't want to know. Its a free world. :)

Win rate or % return? To the contrary, IMO, the most valid measurement for the independent sole player is what % are you taking from the maximum a market daily offers? Cutting to the chase, that assumes daytrading. For example CL offered a maximum of 1227 points on Monday (June 13 2011)...

The question of stress when trading raises a very interesting aspect of being an independent player in markets. The short answer is also a simple one: devise or adopt a methodology that is very reliable in triggering moves which are profitable AND which also, if any loss does begin to arise...

The article, Ecstasy of Empire, is a conglomeration of spicy adjectives and misapplied facts. Short answer: forget it. The world economy is, roughly, always in balance; the deficits of debtor nations equals the surpluses of creditor nations. Simply put, it is not in the interests of China...

Passion adds to the fog of inexperience and insufficient knowledge. Its not passion that is required but problem solving capacity to enable you to arrive, eventually, at a highly reliable methodology . After that its still not passion that brings success; its a suitable trading...

People are fickle; we all are. But all people in all societies are marked out by rank, class, money, power, status and good looks. Now consider this: are you blue collar, low income, fat and ugly? Nothing is going for you, right? Except 2 things: you own savvy and your own personality. If as...

Smart money is only ever referred to on ET by people who have never known smart money. And in general you see many on ET, mostly with no real connections, claiming to know the 'why' of this and the 'why' that. Others on ET keep concerning themselves with wanting to know the 'why' of this and the...