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Hmmm, very interesting to look at your trading today. Did it ever occur to you that today was a big down day? You were constantly counter trending and lost again and again. Flexibility and open-mindedness are two essential traits of a successful trader.

Quote: "Always predicting rather than following prices..." That means you are not in sync with the market flow. Predicting is gambling. The market has been very volatile lately, so your stops won't work unless you make them very big, thus increasing your risk significantly. You can, however...

Perhaps he can see more clearly now that he is completely out of it?

trader99, why do you trade on multiple accounts on multiple assets? I think it’s better to focus on and trade one only. The opportunities are the same in general, if you choose the right one. You are day trading or very short term trading so there is no benefit to trade different assets if you...

It’s not the high probability trades, but high reward/risk trades. You can scalp with high probability trades, but the winnings are rather small after spread, commissions and slippage. However, if you nail on a big move/trend it will be much more than all the small winnings combined.

Looks like you are getting better. Sounds like you still got a lot more to learn/practice. Verdict: keep you day job until you are ready.

I agree totally. This alludes to the importance of patience in trading, as is in hunting. The fundamental issue here, however, is how one correctly calculates the probability of the trade. It’s more complex than it appears. I think that’s what truly distinguishes the winning traders from the...

When you short sell a stock, you are borrowing the actual stocks to sell and promise to buy them back later to return to the owner. The disclaimer always states that the borrowed stocks can be called back anytime. Basically, you have no control of your short sold stocks. How can one argue with...

trader99, your situation is not unique. Many others have gone through the same journey if you have read some trading books, such as a physician traded part time for many years and eventually went full time, etc. However, if you’re truly talented at (day)trading it should have already shown so...

You are right. The only thing that (sometimes) works well in poker but doesn’t work in trading at all is bluffing, which is just a simple mind game.

There are indeed quite a few commonalities between poker and trading. 1. Risk management as stated by Handle123. Good poker players know when to fold to limit loss, instead of going all-in. Same with good traders. 2. Psychology. This is a very big and relevant factor in both and can break or...

When I first read “Market Wizards”, I didn’t quite understand this statement. Now after trading (and mostly losing) for a few years, I can say I finally get what Ed meant. It’s absolutely true in my case. I realized I actually felt better when losing than winning deep in my heart. After...

Excessive false positives indicate a low quality of the signal(s), and often times bad timing as well. When a signal results in a false positive when its conditions are met, it means the conditions are of inferior quality (i.e., incorrect conditions), or insufficient correct conditions are...

I agree to 75% (3 out of 4) of your points. It's obvious which point I don't agree unless you never lose in all your trades.

Hmmm, I thought with more experience and time in trading one becomes better. But you saying the opposite?