Are we elite traders?

[Turveyd]

Unfortunately we ain't paid for taking loss.
Not directly at least ... But we're paid to cover them and make a surplus.
So the smaller our losses and the bigger our gains. The bigger the surplus.
But yeah ... We don't have the same winning ratio ... Etc ...
However, to keep losses small is good advice for everyone.

Kinda going against the keeping losers small at the moment, small losers many times suck especially as most come back to profitable pretty soon after.

Stopped using SL's, reduced trade size, averaging into a trend, not trying to time a move to within 10pts works much better IMHO.

Yes, there are bad trades, which go against big time, but same goes in my favour at times, liking the 80%+ win rate, about 5% of trades hurt me, but only similar to 5 SL hits in a row, which happened anyways.

 

[lostman007]

I don't know anything about elite, but I do know there are two types of people.

First you have the type of person who constantly strives to put others down, to intimidate and validate their own egos through various games and tactics. They put so much energy into competition all the time, even in areas that really isn't about competition and dominance. In the end, they destroy what value was there in the first place, but not without a fight for fight's sake. These are takers and depend upon the taking from others and the destruction of common values.

Then there's the uplifting personality. The person who through various hardships see value in others and their opinions. Who always go for what is best for all, because what benefits all, will eventually raise everyone a knob or two on the grand scales of evolution. Who freely shares their own experiences and ideas, gaining immense clarity from being able to talk with everyone about important things in life. Who may even appreciate that cooperation is always the higher choice, although not always the most practical, for both efficiency and effectiveness. These are givers and depend on justice and awareness.

So, if anybody wish to consider themselves elite, I'd ask them which type of person are you?

Gee you should be in a church, If only what you said was true, the world would be a much better place for sure. Sadly the World and Trading is about taking wealth away from each other, Please don't take this wrong, but trading is not the game you want to play, if you really think nice guys win in the Market or in the World. This business of trading is about taking money away from other period. What I believe You and other people like you need to do is get a good job somewhere and live a far to good life. Because in the real world of trading when you making money, its because you are taking it away from someone, and their is no nice way to put this, but you just inflicted paid to another trader. How much pain = how much money did you make? The next time (if you do) you make a lot of money in the market, think about the pain you just handed out to someone. Nice guys finish first in the movies NOT in the market only Elite Traders win in the market and they are not nor do they want to be your friend! IMHO

 

[Redneck]

Anyone who calls themselves an "elite trader," "a successful trader," "a consistently profitable trader" probably isn't or won't be for long.

Unless you have a real edge (like information flow or financing) every trader is a bad trade away from blowing up.

Calling one's self elite..., or successful - is purely ego driven


Being worthy enough to call one's self a consistently profitable trader - is earned each and every day..., throughout each and every trade - via one's diligent..., and concerted..., efforts

Consistently profitable trader is not a moniker to be taken lightly..., it also one that a trader must be willing..., prepared..., and able - to repeatedly earn

============

every trader is a bad trade away from blowing up.

Best we never lose sight of this fact..., and always conduct our self accordingly

RN

 

[ETcallhome]

Kinda going against the keeping losers small at the moment, small losers many times suck especially as most come back to profitable pretty soon after.

Stopped using SL's, reduced trade size, averaging into a trend, not trying to time a move to within 10pts works much better IMHO.

Yes, there are bad trades, which go against big time, but same goes in my favour at times, liking the 80%+ win rate, about 5% of trades hurt me, but only similar to 5 SL hits in a row, which happened anyways.

if you believe most small losers come back to be profitable, then you must also believe most small profits will turn to become losers. So why not just hang on to everything until it becomes a small profit and take it?

Trading small with no stops adding to positions sounds fine, but what will you do when you run out of money to add?

 

[ETcallhome]

90% is just money management which any of us can do. 10% is guessing right. An elite trader is a good guesser.

 

[i am nobody]

90% is just money management which any of us can do. 10% is guessing right. An elite trader is a good guesser.

Can you explain mathematically how you came to 90% and 10%?
Making a statement like you do is easy. Proving it is alot more difficult, if not impossible.
I have zero money management (putting a stop is not what I call money management), and I still survive. So even this 90% you don't need apparently. And on top of that I never guess, so the 10% I am missing too. Leaves me with zero %. This might proof your statement is complete nonsense.

 

[K-Pia]

Can you explain mathematically how you came to 90% and 10%?
Making a statement like you do is easy. Proving it is alot more difficult, if not impossible.
I have zero money management (putting a stop is not what I call money management), and I still survive. So even this 90% you don't need apparently. And on top of that I never guess, so the 10% I am missing too. Leaves me with zero %. This might proof your statement is complete nonsense.

No one said you are profitable =P
After ... MM & Timing are vague concepts.
But then, what would be your categories ?
Without necessarily assigned probably.

 

[ETcallhome]

Can you explain mathematically how you came to 90% and 10%?
Making a statement like you do is easy. Proving it is alot more difficult, if not impossible.
I have zero money management (putting a stop is not what I call money management), and I still survive. So even this 90% you don't need apparently. And on top of that I never guess, so the 10% I am missing too. Leaves me with zero %. This might proof your statement is complete nonsense.

I just go by Gods word. Look it up. It's in the Bible. "A wise king counts the cost before going to war."
You don't need stops anymore. Your broker will manage your money for you via auto liquidation.
Guessing right helps. Now me? I'm never wrong but often early.
I bet every year Indiana will win NCAAM tournament. That is guessing. But I have other investments, that is money management.

 

[Chris Mac]

An elite trader is a good guesser.

I guess you are wrong !
An elite trader is a good sniper. He doesn't "guess, trust, believe, imagine, feel "
He observes, chooses his target, calculates, shoots adequately, changes his strategy if it doesn't work. And do it again tomorrow.

CM

 

[i am nobody]

Your broker will manage your money for you via auto liquidation.

How can you know that? You don't know me and my results either. Good that we discuss about ET(elite trader) and not about IT (intellectual trader) because that would really be a laugh.

I'm never wrong

You are really a humble man, aren't you? That's somewhere in the Bible too. You should be humble.

but often early

If you have that problem you should work on your stamina. I could put a link here to help you but that might be too shocking for a religious man.

You still did not answer about the 90% and the 10%.