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Frankly, OP you are more like 5000 ft from anything. I can also say you are just 5 ft from the ultimate Holy Grail, but that’ll push you into the abyss. What you sound like is in a very early stage of the learning curve. Get a good corporate day job and learn on the side. It will take a little...

Hmmm the Ying Yang concept from thousands of years ago in China.

Are you still living in SF?

I have been looking at condos in San Francisco. A typical 600 sq-ft 1 bed/1 bath condo costs over $3000/month in rent. If you want to buy, the price is north of $700k. Granted there are many high tech start-ups in San Francisco with good paying jobs, still I wonder how much longer this...

So the test would be perfect with only high income kids, I reason. Then the result would be the same, I believe. The verdict is the same.

From what I understand about Blockchain, it requires too much computing power and its scalability is questionable. The open source process sounds good in theory, but is hard to define and execute in real world. All sounds like a pipe dream to me.

The problem with crypto, Bitcoin or Blockchain is the technology has a long way from being proven to be useful in real life/society, but the price has already shot to the sky. It is a bubble now and remains so even in the future when it is proven, albeit a smaller one. Does that remind anyone...

We know a lot of unfit traders (gamblers) are attracted to day trading for quick bucks. If we take out those folks (80%), what is the % success rate and how long does it take to be successful? Success rate (for serious traders) = 4% over 20% = 20% Years before successful = ? (1-5 years full time)

Around four hundred years ago in Holland, a nice multi-colored tulip was said to be hard to cultivate and possess special utilities. One such tulip was valued as much as a well appointed house. Before long all was history.

You make money as a trader, but why do you have to bash long term investors? Doesn’t make sense at all.

You pay no commissions at all?

All this sounds like a pissing contest to me. Totally senseless.

I feel whatever people do here, others agree or not, really helps us learn from each other. Apparently, I don’t fully agree with what Buy1Sell2 did last week (keeping long in a down market/days), but I learned a lot from his trading. Obviously it worked for him. Say, one can utilize a long...

Bulls make $. Bears make $. Buy1Sell2 is a perma bull here so he makes $. Even though his win rate is only 33%, with good risk management he still came out ahead. A good lesson! However, with improved pattern recognition (to increase win rate) and a flexible mind (more shorting in a down...

To vincentnyc, Note that my statement says statistics is against you. Maybe you are one of those geniuses who defy statistics. That definitely happens, as clearly shown in the Market Wizards. I am a layman and my buy and hold strategy served me well. My 401k account dropped over 40% or higher...

History tends to repeat itself, but not in exactly the same way/fashion.

History shows if you are at least 10 years away from retirement (or need to use the $), you should stay put. The problem is you never know when is a good time to get back in the market. Google some research about timing the market and moving in and out of the market. The statistics is against you.

One reason your exit method worked well today is due to the choppy price action in recent volatile market. One needs to continually adapt to the changing market conditions. This is a good example.

Well, they didn’t have any stop loss in place? Guess they were not elite traders. Everyone on this forum uses stop loss, right? ;)

The market got very volatile recently, so tight stops will shake you out in no time as it did to you today.