1) Would a website qualify?
2) What three items of information would you like to find on such a website?
Al Brooks video
- Thread starter syswizard
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2) What three items of information would you like to find on such a website?
Wasn't there someone going by the username of NoDoji?
There was, last posted in 2015 I think. So that you know that nickname after joining this site TWO DAYS AGO, who were YOU before on this forum? What nick were you? Or you have just been lurking in this forum for the past 14 years under a different nickname?
I'm a lurker
A profitable strategyWhatever resource would be fine
Mostly a profitable strategy or how to develop it...
How do develop a profitable strategy
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How to develop a profitable strategy
There is more than one way to go about the business of developing a profitable strategy.
Just curious, how much time per week would you figure to spend on this part of your journey?
... to survey the assortment of ways, boil the list down to one or two "How do develop a profitable strategy" methods, and finally to make a test run to implement the one you chose?
Keep uppermost in mind that a profitable Trading strategy has potential to spin off a respectable amount of money, as you well know. Doctor, lawyer, engineer, indian chief kinda money and better when you move on to the position sizing and money management aspects. These guys spend significant amounts of time and effort up front to overcome the barriers to entry of those professions.
I got news for you. You will have to spend at least Some time and effort to develop a profitable strategy. Then after that you will need to develop your trade execution skills. etc.
Somewhere along the way, if you can do it, you will start ringing the cash register consistently on a monthly basis.
Have you decided what timeframe charts you would like to trade?
I've considered several possibilities but still haven't decided.
... to survey the assortment of ways, boil the list down to one or two "How do develop a profitable strategy" methods, and finally to make a test run to implement the one you chose...
Just curious, how much time per week would you figure to spend on this part of your journey?
What I've noticed is that both sides have fallen away... the legit old school traders, as well as the 2000s generation of gurus and grifters. The new set of gurus have come up on flashier media like Youtube and Twitch while trading/markets chatter has fragmented across many venues: twitter, discord rooms, sites like seekingalpha or tradingview, etc.
Personally I stick around here mainly for nostalgia.
I think it's a trade off between lifestyle and opportunities for your edge to present itself:
If you trade very frequently you have to spend more time and you suffer more from slippage, spreads, commissions, taxes, etc. but you have the law of large numbers playing in your favor and a greater probability of not having losing months or years. Also you can compound even daily your capital.
Trading the daily charts would be ideal, lifestyle wise, because you don't have most of the aforementioned problems but you can have losing years, your edge can be slow to present, a few big winners make the bulk of your profits (traditional trend following?), volatility drag, you can't compound you capital as quickly, etc.
I guess I would like to be able to scalp or day trade to make bigger returns and to compound my capital very frequently but I don't even know for sure what returns I should expect. Some people say that making 20% a year makes you a rock star, other people say that they can make 100% a year, and others talk about even making %1,000 or even several times that. In some cases you would need to make between %50 to %100 a month to have the returns some people claim like Valckrie, Richard Dennis, Cameron Ross, Dux, Madaz, etc.
Given that I can't find a clear answer even for that and my fruitless attempts at finding an edge I've been lately considering just abandoning this dream and do other things with my time...