If you had to do it all over again....

1) I would have no intention on making ANY money for at least six months. I would treat my deposit in a way that I would be willing to lose it all over that kind of time span.

2) obviously i would do well (if i knew then what i know now)

3) If i could just give myself advice it would be #1. It would be read certain books on trading. It would be no matter what you think... YOU KNOW NOTHING ABOUT TRADING. YOU MUST LEARN HOW TO TRADE. IT IS VERY HARD. AND AGAIN... YOU KNOW NOTHING
 
Quote from BertH:

Re: acrary's comments about strategic over tactical--been pondering this quite a bit lately. I guess I'm confused in that one would assume you'd first try to determine the direction or action--whether the trading vehicle is trending, countertrending, stagnating, etc--before determining a good entry point.

The guy's obviously very intelligent and very successful in this line of work; I'm just trying to figure what to take from the discussion. Unfortunately, appears he's moved on.
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Ber T;
It appeasrs after 5+/ years , that your perception of Mr Acrarys prediction he would move on is a correct perception/reality:D

After re-reading that post you mentioned ;
he divided the market into 2 types''trend & chop'' Dont think he was against determing direction[he may well have done that]. But mentioned ''trade both'' which makes determining direction not as important to him.

Prefer 3 market naming divisions{not predictions,LOL} myself. [1]downtrend like Citibank...[2] uptrend like gold silver...[3] chop/slop sideways trend...

Much prefer trends to chop/slop;
interesting Mr Acrary mentioned most traders prefer ''trends or chop''.:cool:
 
I would have to say that I really wish I took an education at a young age and studied trading part-time at a slow pace, devoting most of my time to my studies and chasing skirts.

I would never advice any young people without an education or a solid job to bet everything on trading.

I`m not saying that it`s impossible to make it as a trader, but I do believe that most people are not cut to be traders.

It sucks to invest the necessary 5 years in a trading education and find that you still can`t make it . And you don`t have any qualifications to show for after those 5 years either.

Educate yourself to get a really cool job (they may exist), trade part-time and then consider going full-time if and when you achieve satisfactory results.

That`s how it should be done, IMO :)
 
That's a HUGE if but I like using my imagination.

I wouldn't have spent so much of my profits on parties and girls.

No wait... Yes I would.
 
- I would have started earlier.

- I would have learnt a real programming langage at school

- I wouldn't have spent 2 full years backtesting and optimizing crappy indicator based automated systems with TS and Amibroker.
 
Well I'd probably have never even attempted it!
Im about 4 years in and still not profitable. I still wonder whether it is actually possible and if the people who claim to be so aren't just brokers posing as successful traders to drum up business!

However, ill probably never give up trying now that i've put so much time into it out of pure stubborness! - although I really am close to exhausting charts/price action/TA etc etc./
 
Quote from acrary:

If you accept the first case you have to believe there is a high signal to noise ratio. Because of this, the opportunities for consistent profitability would appear as islands of opportunity in a sea of randomness. It would require large, indepth study to locate the islands and large periods where you wouldn't trade.

In the second case the markets are non-random but ever changing along the lines of themes (large trending periods, large chop periods, large counter-trend periods, etc.). In this case all you have to do is determine what large periods occur in a market and put in a strategy to exploit the opportunity as it comes around. No need to worry about randomness. Just define the dominant strategies in a market and do the basics like let profits run...cut losses short and let the strategies play out over time.

Huge difference in salability between the two.
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WOW!

I can honestly say that everything i have read up to this point, everything i have watched up to this point ... even though i have heard some similar kinds of opinions etc.. For some reason i just felt a whole heap of what i have learnt just "click" together ... after reading a couple of your posts in this thread...definitely an "I get it now!" moment.... Even though this is an old post i had to chime in...acrary if your out there.. Thank you
 
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