If you could go back in time to when you were a new trader
- Thread starter TheGreatGorilla
- Start date
Yes, it is. I've been an intermittent lurker for years, and having recently become more serious about my trading, I became more serious about looking for "treasure" that might help me along the way. I have found a few rich veins to mine here at ET. You haven't posted much, but over the last few months I have noticed that you have a good eye for valuable nuggets, and have placed a few of your own here as well.
I grew up hearing it as "Great Googly Moogly!" I find myself saying it from time to time
Quote from moonmist:
When ego reigns supreme, the descent of Long-Term Capital Management to Short-Term Capital Mismanagement.
Sorry. Can't resist..............
Lol XD
Bout' sums it up.
Maybe. But arrogance and ego still exist whether or not you are George Soros, or Joe Newbie.
The end result is the same either way, just on different scales.
Quote from TheGreatGorilla:
I would agree.
I honestly don't believe anyone who says a strategy is fail proof, usually doesn't end well. Ends with tears and no money left over from all the leverage. An example would be Long-Term Capital Management. They thought they were invincible. They had a good run until the 'impossible' happened. I actually think someone even wrote a book on the fund, but I sadly don't remember the name of it.
"When Genius Failed: The Rise and Fall of Long-Term Capital Management"
Very interesting book.
http://www.amazon.com/When-Genius-F...1389492845&sr=1-1&keywords=when+genius+failed
no serious trader would consider trying to match up signals across four (4) charts in the first place, let alone highly correlated ones all based on time bars to boot.
if you cannot make highly effective trade-entry decisions off one chart or two charts max, four or five or ten more charts won't make the difference.
financial markets have been creating high-odds outcome price patterns since the dawn of trading, they do so today and will continue to do so forever. Those that never figure this out, never realize what they are missing. Those who figure this out, spend all of their time in the markets grinding away around said action points to the exclusion of all else
Disagree, my strat utilizes many time frames. It's an objective system, perhaps discretionary systems wouldn't benefit from more than 2 time frames? All I know is what works for me.