No. ==The only edge available to the retail trader is prudent risk management. There is no other edge. You may think you have an edge in your entry system.--You do not--. Whatever 12 rules that you have designed as a system is being replicated by many others with 7 rules, 5 rules or perhaps 1 or 2 rules. It's all been done before. There is nothing new under the sun. However, the trader who employs prudent risk management will have an edge over other traders using the same entry discovery system or any other sytem.
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- Thread starter Jdesey
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That's possible as I am too stupid to do it in less rules.
But I am already happy that I can do it in 12 rules.
Can you explain an average winning rate of 80-90% OVER SEVERAL YEARS. Luck? Over +1,000 trades with high winning rate is pure luck?
Try to do 1,000 trades with only risk management and see how many winning trades you will have.
That's possible as I am too stupid to do it in less rules.
But I am already happy that I can do it in 12 rules.
Can you explain an average winning rate of 80-90% OVER SEVERAL YEARS. Luck? Over +1,000 trades with high winning rate is pure luck?
Try to do 1,000 trades with only risk management and see how many winning trades you will have.
Be careful...some folks come here and tell others what they can do or what they can not do. They give specific advice about such. In addition, they will try to convince you there's no other way but their own way.
Later, if you question their advice...they back peddle and say they didn't give any advice because its something they don't do.
Absolutely correct.
A complete misunderstanding of risk management.That's possible as I am too stupid to do it in less rules.
But I am already happy that I can do it in 12 rules.
Can you explain an average winning rate of 80-90% OVER SEVERAL YEARS. Luck? Over +1,000 trades with high winning rate is pure luck?
Try to do 1,000 trades with only risk management and see how many winning trades you will have.
And if you try that you will meet the mother of all losses and it will be game over. I know 2 traders personally who went that way, each with 10 million $ losses.
And also 80-90% with an average win 3 times bigger than an the average loss...
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Not understanding the basics of trading is worse than misunderstanding risk management...
Then you end up on ET posting +13,000 postings.
What a bunch of garbage. Thank you for explaining what you perceive to be as the "only EDGE" available to the retail trader. How did you manage to know how every retail trader trades? There are so many ways to be successful at trading, and many ways to lose. To actually think you have the only answer tells me you know jack shit.
It's ok. Most traders don't realize that prudent risk management is the name of the successful game. Some will eventually arrive at the right conclusion.---Most won't.