what point did you exit on a winning trade? how many positions did you had in your position trading back in late feb. of 2020? and how many in late march 2020?
Another day trader bites the dust
- Thread starter teewoods
- Start date
what point did you exit on a winning trade? how many positions did you had in your position trading back in late feb. of 2020? and how many in late march 2020?
No wonder your friend bought into some daytrading snake oil salesman's pitch.
You can't have and edge if you dont know risk:reward. % edge as everyone in the world calls it. Same with fuckin card counting. But in that your risk is usually pre-defined as your bet. Get a clue. Your expectancy changes based on risk in this. But you're the same dipshit that said edges are a dime a dozen.
I've done this since the '90s and never met someone quite as dumb as you. Why Im on here arguing with some waterhead is beyond me.
Sure you have bud. And Im a billionaire. See how it easy it is to claim some BS over the internet? Moron.
Edge is defined as a probabilistic outcome determining which way the markets move in any given direction. Risk is not part of the equation. You cant predefine risk and then say "welp I predefined my risk at 1% so I have an edge that the market will be bullish".......You are a fuck pig if Ive ever heard one.
Your expectancy SHOULDNT CHANGE just because of risk - thats where people get into trouble by not following their edge flawlessly. Get a clue.
Edges are a dime a dozen - Douglas says so in not so many words in his book
"I'm not going to make any specific recommendations about what system or variables you should use, because I assume that most of the people reading this book are already well schooled in technical analysis. If you need additional assistance, there are hundreds of books available on the topic, as well as system vendors who are more than willing to sell you their ideas. However, if you've made a genuine attempt to do this on your own but are still having problems picking a system, you can contact me"
Pick up a book and read once in a while or watch one of his seminars online you sorry fuck.
This is the last thing Ill say to some inch worm that thinks because you predefine your risk at 1% that it gives you a probabilistic edge on which way the market goes.
AARP is calling, time to hang up your suspenders and go to the glue factory you wrinkly fuck.
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It is not too short. But dude only averaged 8 trades a year. That means he roughly placed 48 trades.
A gambler can go into a casino and still be ahead in 48 bets. You need way more than that to know if you have an edge or not.
If you were position trading and buying big dips over 10 years, you had some sort of edge.
The only issue was if there was no stop loss involved, is that really any edge, or is that a blowup waiting to happen at some point.
This is the equivalent of a small casino allowing unlimited betting limits. They will win and win and win. Most of the time nothing bad happens and they win but in some alternate universe a crazy billionaire decides to go all in his net worth on one roulette spin and win, then you lose.
It would be much worse if he were to receive advice from Reddit traders.