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The 10000 hours rule as minimum to be a master is called Mozart effect and referring to Mozart who became a genius. But in Music I believe it is faster to become a master. I know this because I also got professional at the age of 18 when I already played for 10 years a music instrument (around...

I had other income sources and also savings. And I am hedge fund trader now. My Sharpe is above 5 and I have a doctor degree in Quantitative trading too. What are you doing ? By the way you are very rude. You should be more polite.

Yes there are. But you need to define what is successful. Because there are many much more superior strategies here which still cannot be uncovered from AI because the data is too big too handle efficiently. It is like always still garbage in garbage out. You do not get worldclass trading...

Mistakes ? Not having a sound strategy and not having a solid risk management. You need to spend a few years of reading and researching rather than just write some questions here, to learn much more. Keep also a detailed journal when you trade. Start small because you can loose it all several...

It does not work that way. Crypto follow a pump and dump scheme. You need to learn a lot within a few years until you can be profitable at all from trading. Maybe you only invest in SPY or QQQ and hold it for a few years or you can buy some deep in the money LEAPs on them. But when I look at...

I have lot of experience as I coded a lot here with moving averages and genetic programming approach and so on. Forget it. You easily get overoptimized results which are not good going forward. As I said already reduce size after a loss and increase after gain(s). That's it. There is no magic...

Does your coachee make money already ? How much did she make ? Is she consistent profitabel now ? Because nobody from what I read and heard said (s)he made any money. If only M.K. the trader makes money and all the others has problems to do so and to follow him, I think this speaks a lot about...

Do not make trading systems and complicated strategies on the equity curve. That does not work is my experience. You cannot filter out too much here anyway. Just reduce your position size for the next trades when you make losses and scale in more or increase your size when you made some gains...

All cognitive Bias here in this file.

Finviz(.)com used here, but I do not use scanners at all on a regular base.

As a money manager consistency is much more important than absolute stellar returns. But are you right I think that doing +5% consistently is not effective. So with anything but double digit returns annually but being profitable every month or even every week makes you a successful money manager...

When IB says: "or its affiliate acts as the counter-party to a customer’s order" then this certainly not good, as they can act as market maker and can trade against the client. So they would profit from a customer loss on his positions instead of only taking commissions for his trades. What I...

Lot of banks some are bigger than small lost more than -50% within the last quarter. So these banks are vulnerable to short sellers and may go bankrupt. Whoever knows the next one is, it is a big short sellers game now and they might know that far better who is going to be bankrupt in near time.

There is a large deviation here. You cannot say with certainty it will take 5 or 10 years or 15 years. Of course if you have more time to spend around researching and learning new things the greater the chance you will become a professional earlier. You also need to be very keen and hard working...

Actually ChatGPT said several weeks before the market will have a kind of crash but then the SP500 declined over 10% in just a few short weeks after that forecast. That was not too bad from ChatGPT as I can remember. I already posted this forecast from ChatGPT in another thread here on this Forum.

Dear TheTradingPit, could you please stop that frequent posts of new threads for advertising your business and offers please ? We all know you already and you do not catch all the time more new customers. It gets annoying instead here. Thanks.

Hmm. Legit...? I do not think there are non legit markets. The markets themselves are not bad. The problem with my broker was not bad quoting but no quoting as their quoting system did not open and they failed to make the market when NYSE already opened and that for more than half an hour. So I...

You made this broker a $2200 present for their own mistake ? I mean it is your money, but it is your right, and I have no doubts, that You can claim back your loss because of that. Just for your info. I got a bad quote on Monday on one of their share CFD when they did not open the market right...

My own real experience I am telling here. That's it. At that time I traded some other Exotics on Spot FX and I waited for an opportunity and watched the whole quoting board of IC Markets. Yahoo were floating and realtime quoting and my other non-free datafeed confirmed it because I did not...

Not sure, some years ago IC Markets had some mispricing with delayed quotes on USDRUB I noticed randomly. I just watched and compared it to free yahoo quotes and my datafeed. They delay was about 15 to 30 seconds but there was massive actions on interbank with high volatility. I did not arb that...