Search results

How do you think, should pro chess player or athlete worry about if they suddenly go insane after a couple of lost games and wreck their career by impulsive playing? Or maybe should we worry all the time when driving that we can suddenly go amok and hit the big truck driving by the other side...

LOL, good one! :D Indeed, what Ofxpro stated is rather a typical rookie trouble, which has to be overcome in order to become consistent, because it's extremely important to never hysterically react to losing streaks. They just happen, yes, that's an essential part of an odds game, but... I...

Oh, believe me, when you trade 8-15 hours every day for 7+ years, such cases happen many, many times (particularly in first years). And yes, these psychological issues are probably the most ugly of all problems a trader ever meets. But being able to deal with them is one of essential parts of...

Ah right, my bad, daytrade indeed must be opened and closed the same day... Well, yes it should work then. :)

Option trades are counted too (at least by IB), so the answer is no.

I really don't get you you are trying to explain. Of course we never stop to learn, but I traded in crappy vola of 2005-7, traded in insane vola of 2008, traded during the flash crash, trade now... thousands of trades. Not to be arrogant, but what else can happen that I don't know about?

I started trading in 2005, never witnessed dotcom bubble, but witnessed outstanding volatility of late 2008, it was great. :p

Of course. But any business is what your bottom line in the end. If day trading makes you better ROC in the end of say a year than swing trading, it's the fact one can't deny. ROC is ROC, who cares how much you paid in commissions or whatever other expenses. If swing trading makes you more...

Why is it a losers game then? :)

Yup, in the end currency markets are up to interest rates/macro picture. The top fun in town is the battle of two turds as I call it aka EURUSD. :D

Recent Euro action for example. :) We made a swing low, bounced back up, then back down and stopped exactly at the same level. What could it mean? Obviously that some serious buying is happening at exactly this level and if they buy here, probably not to take a few ticks and get out (it takes...

Please quote at least one of my posts where I said I am a "big trader" with "big balls". Otherwise you officially admitted yourself having quite a weird imagination if not say delirium. :D

As far as I know you mastered the same stuff quite a long time ago. :) Any technical trading is just the old tape reading craft basically, nothing else.

I probably expressed it wrong. Yes, of course trading plan should be rule based, no life without the rules. But the criteria for entry are just more subjective than say typical quant models, they are based more on sort of "tape reading" the big boys rather than exactly quantifiable trading model...

I don't believe in mechanical/quantifiable edges available to the retain traders, not in the liquid markets at least. World's top minds and supercomputers seek and exploit those, so it's stupid to compete with them in their favourite game. But one can have an edge by watching their...

You have to set yourself some rules, at very least when to admit being wrong and when to take profits when speculating, otherwise it's going to be just random guessing.

Yea, I just talked not about stocks, but rather about the most liquid futures (FI, SIF's) and FX.

Who cares about the winning ratio at all? As long as draw-downs are moderate compared to profits, any hit rate is a good system. Trying to avoid losses is one of the worst psychological traps wannabe traders fall into.

Doubt they can at all if speak of real top liquidity markets.

This statement is somewhat true, because indeed it's the experience and deliberate practice what makes the trader, not the tool used. Many traders succeed with any set of tools from pure price action chart to sheet of bond yields without any charts at all... and even more fail, because they...