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I'll try and keep up.

That's is a given. The question is did you learn anything of value from your mistakes?

I don't have enough information to make that call. If you followed your plan it might have been a good trade with a bad outcome.

What I didn't have when I started was a written trading plan. Why would you need a trading plan? The market is fluid, you have to adjust to what the market is doing, all you have to do is find or buy the secret then take the set-ups and rake in the profit. Every book or article I read had a...

I feel that in order to learn from our mistakes it is necessary to do the following; 1) Identify and define your mistake 2) Take responsibility for your actions 3) Analyse; Determine the WHY (what was the thought process) 4) Develop an action plan to keep you from repeating the mistake 5)...

My recommendation would be to study why traders fail Then don't do any of that stuff!

Want to share what you have?

But Ken you make your living as an educator. The only reason you trade is to get people to pay you to watch. It is still up in the air if you are a profitable trader as you don't post your performance. I don't think you are diversifying, I think you have to trade to give the impression you...

Does your trading plan (I assume you have a written trading plan) cover this topic?

I ran some numbers for you that make more sense than a win loss ratio. I started with 10K, 2500 for each stock. If the prediction was for a lower close the next day I sold short. If the prediction was for a higher close I bought. I closed and reversed a position when the prediction changed...

Is it just me or has anyone else noticed that every time Ken posts "Go Bears" the market turns. It must be nice to have a super power!! :):)

Breakouts from???

Herding cats is easy if you have an edge. Get some cat food.:cool:

I spent them on fast cars, old whisky, young women and some I squandered foolishly.

The post I was questioning is that a day trader will always outperform a long term trader.

No one I know. The point was that stocks move more when the markets are closed than when they are open. The day trader being flat at the end of each day is at a disadvantage to the long term trader.

And you didn't explain why the day trader will always come out ahead.

Why is that? Isn't there a study somewhere that shows most of the moves happen when the market is closed?

No trading; What will I do with my time? Next you'll tell me no golf!!

Just anecdotal but I found it much easier to stick to a low carb lifestyle than low fat.