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Nope, we do not. You are riding an uptrend garnering tremendous profits and suddenly you witness a vicious sell-off. Do you close out and get "shaken out" in fear, or do you stay committed to the position and hope for it to recover for even higher highs? Long story short, you can interpret it...

You are implying that SymTrader meant commitment to a losing position, Maverick74 (hoping for a turnaround). That would be indeed reckless. I was assuming he meant commitment to a winning position. So what was meant?

I can't agree more. Trading the bigger picture is indeed more a question of commitment and also a willingness to let go. Sadly we are greedy and hopeful at the wrong times. For example, when you enter a trade, you obviously hope that it will be profitable. Do a mental switch. You have to fear...

What nonsensical advice is this, please? How can someone advise a newbie to go ahead and trade futures instead of stocks or ETFs? I am assuming that you want to urge him into day trading, instead of easier, less active approaches. Hence the minimum requirement of 25k. Of course you can trade...

intradaybill, you seriously have to take a class on common sense. If you have a rough 30% chance to be profitable in a given quarter, then your chances of consistent profitability obviously shrink with every new period. I assume that this is something you still understand. With the numbers...

Correct. That's why I said "four profitable quarters in a row". I'm sad to see your 3rd grade education fail at teaching you proper reading.

Let's use simple probability statistics. According to this table, your chances of coming out profitably in a given quarter are on average 29%: (33% + 28% + 27% + 28%) / 4 = 29 Your chances of coming out profitably after a whole year (four profitable quarters in a row) shrink to 0.71%...

Thanks for your criticism. I am obviously not giving up my job as a money printer. Trading is a very profitable business for me in all market environments. What I'm more concerned about is the student's lack of discipline for mastering this business. Perhaps it is also due to the fact that...

I can relate to that, NoDoji. I often have the impression that the most significant parts are not completely understood. It is mostly common sense stuff, as you say, and so they are easily overheard. Success can only come from within, indeed. A mentor is there to give guidance and advice, not to...

Roughly estimated, merely 1 out of 4 who approach me reaches consistency and this after a whole year, sometimes longer. With the others, I notice precisely those characteristics mentioned which is why I believe this ratio could be better. There are slow learners and fast learners. And it is hard...

I taught plenty of trading students online. Therefore, I can tell from experience that not even half of them have what it takes to become a profitable trader. I've seen students come and go. And I'm not even imposing my trading style on them, but instead, communicate the nature of price action...

With all due respect, I believe your wife knew in an instant what you still have not realized after a decade of illusions. Women are very good at judging the merits of a venture. So better not lure her into the market.

Last day trading the September contract. Thought I share the result.

Agreed, nazzdack. I don't live in Palatine. It's referring to this definition which might not correlate to your second point, though ... I just like big words :) I'm wondering how he is doing. There are no more recent videos of him. From what I could depict in the videos available, he is...

This Japanese trader calls himself BNF, short for Victor Niederhoffer (more obvious when pronounced in Japanese). He started in 1999 with savings of 1,600,000 yen (13,600 dollar*) earned at his part-time job and turned it into a whopping 16,5 billion yen (140 million dollar*) in 2007. Takeshi...

Is my understanding about your objective correct that you wish to harness larger trends? If you are willing to become a trend trader, jinxu, then big profits are inevitable coupled with small losses. This requires you to look at the bigger several day picture instead and stay in a position for...

Trend following, in all market environments. Please don't quote me the myth that they would not work in ranging markets because the market never ranges. It is the time frame one focuses on that gives you a range or trend perception. YTD while the S&P 500 was supposedly "ranging", my trend...

I see you are doing very typical newbie mistakes but you might figure it out one day. Keep on practicing and hopefully you do find a good mentor. And no, SPY is not leveraged which is why I'm suggesting this instrument. If you think you can trade better with futures, then I won't stop you from...

Your screen name sounds Chinese. I believe in Asia and Europe you can trade smaller contracts with CFDs. Other than that, aren't ETFs a popular option nowadays? Instead of the ES futures, use SPY; instead of Mini-Gold, use GLD etc. I have had some students who ran into the same problem like...

Respect.