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Certainly, which is why most fail.

Trading is gambling (in the proper use of the term), but that's also entirely different discussion. I don't agree, since we don't know anything else about his strategy.

Basic instinct in 'demanding' times is to overreact, so yes, in one sense it is not as bad as many think. On the other hand, it is worse because most people don't understand what has and is happening.

Close, but I was asking whether it's enough, as it isn't for many traders. He has since stated that it is though.

So every one of your trades wins. No? Then the "random luck factor", aka "variance", is existent. If it is existent for one trade then it exists for all, which means that entire careers are at variance's mercy. The more good trades you make the more likely you are to succeed longterm, but there...

You have to develop a good trading strategy and trust it. It's best to become apathetic about shorterm results, as caring about losing trades or setting daily loss limits will negatively affect your trading. Unforunately, most of us only become apathetic about it through large losses. We learn...

If we know we'll hit 60% going forward, 10% is fine. The fluctuations of bankroll will be massive, but in terms of risk of overbetting it is fine according to the Kelly Criterion. The problem is that we don't know we'll hit 60% going forward, which is why we'd bet a fraction of Kelly. Probably...

I don't stop trading. I don't set myself a daily loss limit, as it makes no difference whether I lose $500 today and $500 tomorrow, or just $1000 today. The only reason to set a loss limit is if losing past a certain point will affect your trading. I'd argue that this shouldn't be an issue for a...

"If you mean from this that a system with solid underlying logic shows during a live trading performance review that real trades have current +ev or as I called it positive cash flow and that going forward we can anticipate a continuation of positive cash flow for next segment of live trading...

I assume you realise you won't get much screen space, at least not if you're used to using 2+ larger monitors. Five feet from the desk, I suppose you wouldn't get away with two 24 inchers would you?

I'm not sure what would be worse, having the mouse die or net connection drop. Not so bad unless I'm it's in the split second I am adjusting my stop!

I actually agree with much of what you say. A lot of info is people pulling statistics out of their rear end. "I, like other traders for the past 15 years of trading systems have been trying to reconcile the bewildering vast number of statistics that are spewed from guru’s books and...

Obviously I'd prefer a profitable trade rather than a losing trade, but my comfort and confidence comes from the philosophy of my trading style and how consistently I apply it. To put it simply, I focus on making what I think are good trades, and trust that results will follow.

What a buch of nonsense. That's $100k a year mate, which, unless you live in a ridiculously expensive area, is enough to provide a very comfortable living. As for trading being easier after a good win? The result is insignificant to me, so no.

The problem is we're addressing different things. " You write about “Perceived expected value” and “True expected value” where no such terminology exists." They're not technical terms. I added in "perceived" and "true" to differentiate between the true probabilities and value of an...

Rabbitone, I haven't mentioned using perceived expected value for trading at all. You also seem to be confusing expected value with perceived expected value. The expected value is the true value, while the perceived value is what we calculate it to be, whether it is for a single trade or over a...

Rabbit, I have no idea what your last post has to do with your point, or mine. You're just giving examples of expectation, they're not proving anything. You're not arguing with my point, but nitpicking. You don't even realise you're so far off track. "Traders toss statistical measures like...

Perhaps I'm wrong, but I'm pretty sure ev we're talking about probability here, not statistics. "Compared with" Did you actually read that paragraph? I never said it was irrelevant at all in the first quote. In fact, I stated that it had not lost any importance. "So please explain to us...

Gifro, I think this is a personal matter and you just have to find a balance with which your comfortable.

I meant the ratio is irrelevant as far as determining which trades are placed, assuming that ratio is acceptable for the trader. My point is in reply to the suggestion that trades should have a certain R:R range to be profitable. My point is that it is not the range that matters, but whether...