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Trading is for making money. ET is for financial entertainment. Often not even financial :)

IMO if you can't invest time in reading a book, you're spending FAR too much time trading. Trading per se shouldn't take up much of your time at all. You'll understand when you get a good trend following system :)

Are you suggesting there are posters on ET that can't afford $25 for a book?

Greed is neither good nor bad - it's an emotion. Greed combined with hard work and perception will make you richer. Greed combined with stupidity generally won't. If you want more than others - if you think you need a mansion and a private jet to live the way you really want to - then you...

I think one can categorically state that the most successful 5% of traders are orders of magnitude richer than the top 5% of doctors. When you're a medic you really cannot be in it for the money. When you're a trader money is the only reason to be doing it..

Any chance you Yanks could change your constitution to prohibit annual deficits? That would help all of us long term. From what I heard a good handful of the founding fathers on the Mayflower weren't really fleeing religious persecution but debts they couldn't pay! US law has always been...

You may as well get her to actually DO the trading..

You may have noticed that "Liars' Poker" is still in print and selling well. It's the best advert for JM & Co. LTCM? Come on, that was sooo long ago :)

Why not continue with the job and invest your money with someone else? The chances of you (or any new trader) outperforming one of the top funds are very slim. Of course, deciding what makes a fund good is a job in its own right :)

Well, trendfollowing itself hasn't changed much in the last 6 months, I can assure you! So maybe that might hold your interest for a bit longer. Also, if you think trendfollowing is not 100% technical you are actually confused as to what trendfollowing is. Jumping into a rising market because...

Girlfriend? Just make sure she's a model. It's actually a legal statute in the US and UK that traders are only allowed to date models. If you later discover she isn't one, you will have involuntarily been in breach of the law.

One of the smartest trades you may ever make is to let a better trader than you manage your capital for you. Another upside to this is that your day is totally free to do whatever you want. Sitting in front of a screen watching numbers change colour was never my bag :) There are some...

TZ - all trendfollowing systems are 100% technical, and plenty have made big money year in year out for the past couple of decades.

A system should be able to adjust dynamically for vol/vola and thus work equally well, long term, on data from any period.

You need to BACKTEST your strategy over a large amount of historical data. Then tell us if you like the results or not. There is no discussion without backtesting.

I have made this point several times on other ET threads but see no harm in repeating here. Most people totally fail to grasp it. If a strategy works well over a few months of data from one asset class it means absolutely nothing. All you're doing statistically is fixing your data. Try...

The banks also lent heavily to funds to finance all those subprime carry trades. And did plently themselves :)

For most people, being able to fulfill their dreams leads to a sense of satisfaction - 'happiness', if you like. If your dreams cost money then you will need it to achieve them. If not, you won't.

I'm assuming that almost everyone on this thread thinks high frequency trading is better than long term trend following. This may well make sense if you are an institution with minimal per trade costs (I'm going with the assumption that microtrends are more 'predictable' than long term ones) but...

Here's an interesting strategy, and I'm curious to know what you all think: Examine stock prices over the last 100 years (or some similarly vast period of time) and try to identify the worst 3 month decline in the market over that period. Let's call it X%. Then, every day, you simply...