Bhel puri...Improving Brooks the Padu Way

FTDK said:
Where did i say that?
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so you are proving what i am saying
risk management will not save you.

my entries and exits are bad and that is what i am working on.

losing doing something does not make you an idiot.......it just means you are a bad trader......and most good traders were bad traders at some time.......

and i am not interested in being good...i want to be the best there ever was

that takes a little time and a lot of money and so far i have managed both

i have money ...i want to be famous....... be the best trader there ever was.
 
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padutrader said:
so you are proving what i am saying
risk management will not save you.

my entries and exits are bad and that is what i am working on.

losing doing something does not make you an idiot.......it just means you are a bad trader......and most good traders were bad traders at some time.......

and i am not interested in being good...i want to be the best there ever was

that takes a little time and a lot of money and so far i have managed both

i have money ...i want to be famous be the best trader there ever was.
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No, i am saying that any strategy needs risk management to be successful long term ...
 
FTDK said:
Where did i say that?
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you say you made 100%

so you are a good trader.

but unless you know exactly how and why you made that 100% - and most do not know why they make money and why they lose- then you will never be a great trader.

i do not want to be good ....i want to be greatest that that ever lived....if you like you can join me and simplemelike and do just that

but you must want it
 
NumberZ said:
People learn rocket science quicker than that. And this ain't no rocket science.
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yes
everyone thinks this is easier than rocket science and quantum mechanics..

learning rocket science does not make you rich

market knowledge does
 
padutrader said:
you say you made 100%

so you are a good trader.

but unless you know exactly how and why you made that 100% - and most do not know why they make money and why they lose- then you will never be a great trader.

i do not want to be good ....i want to be greatest that that ever lived....if you like you can join me and simplemelike and do just that

but you must want it
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I know exactly why and how i made that return. That is also why i know i will be able to replicate it in the future.

Not only because of the strategy, but also because of risk management. It is the risk management that makes sure i can survive a period of losing trades. Having a losing streak doesn't mean the strategy is bad, everyone will experience that every now and then, but without proper risk management most will lose their account during such losing streaks.

In my opinion a profitable traders needs to have 3 things:

1. A profitable strategy, preferably backed by stats.
2: Proper risk management.
3: Understand psychology around trading.

Make sure you know your mental weaknesses and strengths. Embrace your weaknesses so you don't fall victim to them. Exploit your strengths to maximize your potential.
 
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p0box4 said:
You are funny.

You are getting quite famous on ET but for all the wrong reasons.
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It is so silly. He is telling you that because you made 100% in two weeks...The fact that you made it without first losing your shirt means you did it all wrong, and so you are not a success.

This is the sort of the thing he has been trying to push for years now. If padu cannot make money in the market, nobody else can. If he cannot make money trading by reading books, then nobody else can.

p0box, you are arguing with the wind. You won't win. Save your strength.
 
FTDK said:
I know exactly why and how i made that return. That is also why i know i will be able to reproduce it in the future.

Not only because of the strategy, but also because of risk management. It is the risk management that makes sure i can survive a period of losing trades. Having a losing streak doesn't mean the strategy is bad, everyone will experience that every now and then, but without proper risk management most will lose their account during such losing streaks.

In my opinion a profitable traders needs to have 3 things:

1. A profitable strategy, preferably backed by stats.
2: Proper risk management.
3: Understand psychology around trading.

Make sure you know your mental weaknesses and strengths. Embrace your weaknesses so you don't fall victim to them. Exploit your strengths to maximize your potential.
More...

For example one of my weaknesses was over trading, but now i know i don't need to trade every single small move in the market, there is always tomorrow.

So now i prefer to miss a signal, as frustrating as it might be at times, over trading all the time and wanting to be right all the time.
 
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