It is IMPOSSIBLE to make money in the markets

He has already basically admitted he has not done any real amount of backtesting. So I think its clear why he is not profitable.

I have over 5 billion backtests in my first 3 years. He wont even answer the question to as how many he has completed.


Quote from Runningbear:

The best advice I ever got about trading was:

A. Find a system
B. Prove that it works
C. Trade it.

Now you should be able to get to C before you risk any capital.

Most people never even get to A. Period.

99% of traders will lose all their money before they ever get to A.

Ripely, you've been posting on ET for years. Have you got a system yet?

Have you proven that it works?

Runningbear
More...
 
Quote from traderdragon:

100% false. Since my account goes up nicely every single year. I make more trading than my broker does from my commish. A lot more. Thats a fact.
More...

..only a matter of time before you run into probabilities... :(
 
Quote from Ripley:

..only a matter of time before you run into probabilities... :(
More...

nuthin' works forever but if u keep re-inventin' uself and adapt to a ever changin' mkt, money will keep comin'.
u are far too reliant on your experience as a lozzer for fairly judge the mkt and traders.
 
don't trade futures..

I can predict futures pretty well though, except whenever I enter a trade, it always turns out to be a loser, when I enter a stock, it always turns out to be ok.


I lost $70 in futures today as well , just messing around,
Seems like YM likes to play games all the time.



but made ok money in stocks
 
And you know this how???? You dont. You have no basis for such a statement.

I monitor my systems closely every month, I can detect system fade over a long period of time. Once an edge is eaten up, I take the system off line. But for years, it made me lots of money. So in the end, I pocket a bunch of money, AND I KEEP IT :)

In the meantime, ive developed more systems and have put them online. So I always stay ahead of the markets. My 2 favorite systems have shown zero sign of fading for over 5 years now. I dont see the "reason they work" ever leaving the markets. I bet 10 years from now they are still making money.

If a system has been working for years, and then starts losing money, you dont just sit watching it lose money until everything it has made is gone. Duh.







Quote from Ripley:

..only a matter of time before you run into probabilities... :(
More...
 
Yes Ripley, we know. Trading is hard.

Stupid chart patterns don't work, S/R levels don't work, feeling bullish on upticks and bearish on downticks doesn't work. And to think that once we DO get it right, that we might have to throw it all away tomorrow and find something else that works?

Fuggedaboutit.
 
There have been one or 2 good posts in the past on how to utilize Fed rate announcement days.

On the DOW today there was a gentle decline into the Fed rate announcement. Everyone and his dog had predicted no rate increase. That happened. So an 'up' was the first move widely expected. That happened. But that first 'up' was part of fast chop play which usually attends the rate announcement. So for the untutored just using a couple of suitable crossover lines for a fast market allows you take all the moves in turn .. still very nice even if only done inexactly.
:)
 
I'm not doing as well during these summer months as I did in the winter, but I have still managed to make decent money to still save and live comfortably. However, it has been very frustrating indeed. My style has made me a scalper. My problems have been my swings. My up days are good, but my down days have been bad too. Mostly, to my own greed and foolishness. There is money to be made in these markets. It's just not as easy as it was. There were some "gimme months" when everyone made money. This summer has been a grind, but is not putting anyone out of business. Concentrate on your core stocks and learn them. If you can scalp do it. Staying in positions and averaging down has not been profitable for me.
 
And the crazy thing is Ripley, once you do reach a certain point, trading actually becomes easy -- no stress, no pain.

So easy in fact, that your mind, after years and years of struggle and pain, will revulse and rebel against the notion, and will actually do whatever it can to return things to the status quo where trading was hard work. It will try to sabotage your string of winners, make you afraid to step up size on the really good trades, etc. After all, money doesn't come that easy, does it?

The work doesn't stop with a successful system or methodology -- that's just the beginning.
 
Quote from illiquid:

And the crazy thing is Ripley, once you do reach a certain point, trading actually becomes easy -- no stress, no pain.

So easy in fact, that your mind, after years and years of struggle and pain, will revulse and rebel against the notion, and will actually do whatever it can to return things to the status quo where trading was hard work. It will try to sabotage your string of winners, make you afraid to step up size on the really good trades, etc. After all, money doesn't come that easy, does it?

The work doesn't stop with a successful system or methodology -- that's just the beginning.
More...


:eek: oh hell I'm fvcked
 
You must log in or register to reply here.
Back
Top