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There is a similarity in quickly sizing up probabilities when it comes to determining whether to enter a trade and where/when to exit. To get the right trading probabilities, you have to have a trading model based on pattern recognition or statistical analysis, which can take several years to...

You sound like a true professional- You made an assessment, allocated time and effort into this venture- then analyzed the results to determine whether or not to go forward, and decided it wasn't for you. There is no shame in failing, especially an endeavor that's as difficult at this one- and...

Didn't see this posted nor easy to find via online search: Date of breach: 2/28/18 Customers notified starting late Feb 2019 https://oag.ca.gov/system/files/Phillip01_Multi%20States_0.pdf ____________________________________________ Portion: To Our Customers: We are writing to inform you...

The problem is your argument was more self-serving than a true attempt to gather data for research/evaluation. You make an assessment based on your one sided evidence that successful retail trading isn't possible and a "bad trade" compared to other professions, and thus, shouldn't be pursued...

One of the great mysteries in life is what motivates people to post contrarian philosophies on Boards/Sites that are meant to serve those with opposite viewpoints? You are on a site called "Elite Traders", presenting your opinion that trading is a bad career choice. The short answer is yes...

Reality Check #1: Reaching the desired level of trading where you are able to make a nice living from it is extremely rare among all those attempting with the best odds from various studies being about 20% and the worst being around 5%, meaning out of 100 people trying to learn how to trade, as...

Strongly disagree with the above statements. You are showing classic "survivor bias". Because your efforts brought you success, you're making the claim that it will work for everyone- but you are overlooking the hordes of dead bodies behind you that also believed their methods would eventually...

I find intraday futures trading superior to stocks for the following reasons: 1) Much better tax treatment- You can claim a portion of your futures profits under long term capital gains compared to 100% short term gains via stock daytrading. 2) Much easier tax filing- you have just one form to...

As others have said, it's not that trading successfully is hard, but it's the journey to make it to the level where trading becomes systematically easier is what is brutally hard. Most people don't understand that successful long term trading is one of the most difficult things to achieve...

One of the worst things about being crushed out of a position, is that typically the market soon adds insult to injury with a violent reversal that would have drastically reduced your losses or may have even moved you into a profit. As painful as an account blow up can be, it also provides you...

Kids are a clean palette - why pollute them with adult misconceptions of trading, which would be anything we try to "teach"? Trading is difficult to most because of the biases that we have acquired over our lifetimes that are very difficult to get rid of. Perma Bears and/or Bulls are the extreme...

Analyzing what you said and breaking it down: Okay- you're a not yet successful trader. You just admitted to not knowing how to trade successfully. How can you now talk about what trading styles might work when you have yet to find one that works? This is nuts. It's like a person who is lost...

What fact? It is NOT fact that only a small number of investors are profitable in the market. You looked at the stats for "trading" and made it about everyone, which is wrong. One of the easiest and most recommended investing methods for the average person is to put money in an index fund and...

Ask yourself the following questions: 1) What is the reason for entering at your desired entry price? The answer is you must think prices are primed to move in your general direction to your target price. 2) What path can prices take to reach the target exit price? The hard lift here is...

You said you were a pro poker player, mostly online. How was your success, especially against online opponents? In online poker, you can't read other players emotions so you have to be able to just process the data quickly to determine your odds of success. Those skill sets would serve you well...

The paradox of trading successfully is that if/when you arrive at a method that works for you, you'll see that it lies more on the side of simplicity than being complex. The enormous hump is re-wiring your brain to work out a solution. The key for long term success is just finding a method that...

I don't know why people insist on taking such a polarized view of the market. You see long term investors insulting traders and vice versa, as if one is actually better than the other. The reality is they are really two sides of the same coin. Investing is just long term trading; trading is...

I agree and my thoughts go to how will they deal with extreme bitcoin value gyrations? If futures, you have a "Limit Down" threshold where the market closes and trading stops at -20%. If bitcoin drops to -20%, the futures market has no control over the actual index, so if they freeze trading...

I don't know about that... Any trader that has been caught on the wrong side of a massive market move and faces a humongous loss or even ruination if the market doesn't reverse often exhibit newfound deep spirituality and the realization that praying goes hand in hand with trading at that point. :D

Your mental conditioning that you have been raised with is very different from what you need to use for trading. The saying "cut your losses and let your profits run" sounds all well and good, but human basic nature is to do the opposite when put under stress. You make some gains, and as soon...