From $5k to $50k
- Thread starter Money Trust
- Start date
Of course the average anything is a loser, especially average traders. Schizo is an Elite Trader, obviously. Is that the gist of your point.
99.99% of people who try to trade fail. One out of ten thousand succeeds. Everyone who has paid their dues knows this.
Thank you for reinforcing my arguments.
1. Not everyone will be an Elite Day Trader like Schizo, only a very, very small % will
2. You do not need to be an Elite Day Trader to be profitable
It is like saying if I can't play basketball like Micheal Jordon I shouldn't play
Did you have a winning year last year and the year before and the year before? If you did, great continue along. If you didn't maybe you should examine your trading
So where is your "From 5k to 50k" thread ?!
I haven't read enough of your arguments to understand your objective but I'm clearly opposed to what I've been able to understand of your views of truth. I mean that in a helpful rather than critical way, ...to clear up any misunderstanding.
Trading is a competitive endeavor. I don't play. My participation on ET already pushes my limits of my truth.
It is funny to see how, and on which basis, people on ET receive the status of successful trader, or are declared losers.
I realize now that Elite Trader should be Idiot Trader. A lot of posters on ET have no clue about trading, and no clue how to analyze the results of trades.
Posting and being able (or cheating to fake it) to stay just above the break even point gives you already the highest status.
The fact that everybody posts in hindsight is, only for some posters, against them, while for others it is no problem and it is accepted as real trades. ALL postings are hindsight!
The way people trade, when they enter, when they get out, how long they stay in a trade, how they handles losses....these elements define who is a good trader and who is not. From these elements you can deduce if the trader has a good system or not.
Traders who open a trade, close it the same minute and reopen it, in the SAME DIRECTION!, in the same or next minute, have clearly no clue about trading. They just gamble.
I realize now that Elite Trader should be Idiot Trader. A lot of posters on ET have no clue about trading, and no clue how to analyze the results of trades.
Posting and being able (or cheating to fake it) to stay just above the break even point gives you already the highest status.
The fact that everybody posts in hindsight is, only for some posters, against them, while for others it is no problem and it is accepted as real trades. ALL postings are hindsight!
The way people trade, when they enter, when they get out, how long they stay in a trade, how they handles losses....these elements define who is a good trader and who is not. From these elements you can deduce if the trader has a good system or not.
Traders who open a trade, close it the same minute and reopen it, in the SAME DIRECTION!, in the same or next minute, have clearly no clue about trading. They just gamble.
However, one can close its order and enter at a better price.
It's how you manage loss too. Even if size matters more than price.
But when you close a trade. You've got the option to try it again or not.
There is a trade off between optionality and cost. But no right answer.
There is a moment when you have to cut your loss and try again...
It may tell you that I understand nothing about the underlying.
But I'd prefer to be dumb & antifragile than smart & fragile.
I'd prefer to see a trader persevering than another that has no plan.
Sticking to his plan. Taking boldly those losses. But that has an Edge,
The first guy could possibly know what's wrong in his plan and progress.
The second one's doing nothing constructive. He's Gambler with No Plans.
There's a trade off too between Optimization and Portability.
Even if we eat neither of them, directly.
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