The existence of Al Brooks an Big Mike as trading benefactors are all a rational person needs to deduce conclusions for the potential of profitability:risk for retail traders and the cultural zeitgeist of trading. Thank God I found Al and Big Mike.
Its impossible to be profitable in trading as a retail trader
- Thread starter quant983
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The existence of Al Brooks an Big Mike as trading benefactors are all a rational person needs to deduce conclusions for the potential of profitability:risk for retail traders and the cultural zeitgeist of trading. Thank God I found Al and Big Mike.
Its impossible to be profitable in trading as a retail trader"
Trading is part Art, part Science -- that's my quick and somewhat simple, yet complex, answer.
Even though I, or any profitable trader, would give you their technique...you will still more or less...likely fail.
by the way, i hate it when people label Trader...as either retail (maybe amateur) or professional/institutional -- it's the same idea, regardless.
Trading is part Art, part Science -- that's my quick and somewhat simple, yet complex, answer.
Even though I, or any profitable trader, would give you their technique...you will still more or less...likely fail.
by the way, i hate it when people label Trader...as either retail (maybe amateur) or professional/institutional -- it's the same idea, regardless.
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Its impossible to be profitable in trading as a retail trader"
Trading is part Art, part Science -- that's my quick and somewhat simple, yet complex, answer.
Even though I, or any profitable trader, would give you their technique...you will still more or less...likely fail.
by the way, i hate it when people label Trader...as either retail (maybe amateur) or professional/institutional -- it's the same idea, regardless.
How doyou define "same idea"? Different methods with a similar idea create a totally different scenario. Prostitutes are traders in a loose sense, that doesn't mean there's no distinction between them and retail traders or that there is no distinction between retail traders and institutional traders.
... impossible perhaps for the OP, however, there are many, including myself who are very profitable. Each have their own path, but my path to profitability began years ago when I dropped the backtesting, indicators, etc and devoted myself to learning intraday market structure and price action. Learning the language of the market takes time and patience, many give up or blow out accounts, giving in to impatient attitudes. Profitable traders have put in the time and effort, can trade from a clean chart and learned to develop an instinct and discipline to know what prices tell them. It takes a lot of chart time, but one day, it happens, it clicks and you finally begin to understand. Then, it becomes easy, kinda boring, but exhilarating and liberating knowing you can make a living doing what you love to do.
I have just completed six months' trading with a W/L 404-37. Max draw down (a single trade loss as a percentage of equity at time of loss) at -01.685%. ROI: +86%. I use one proprietary indicator. Average win over $106 every time I touched the mouse. The Grail is limiting your loss, not winning more trades. Keep your draw down within -3% and you have a chance. Let it go above that, and it's harder to recover.
You are so correct, but majority will not listen or accept. Too many have it spent before they even learn how to go long/short, they have no clue as to how to learn to program, learn they are trading risk and not price, learn that consistent profits are far better than going for 20 points once a week and pray it covers losses, keep Goals small enough to make then cut back size if trading more than 3 lot. Way too many bounce around changing indicators and never learning how to read a chart till you see a pattern and don't have to look at notes, to know keep indicators small number and they only indicate possible signal and make it easier than just watching sticks all day. Way too many believe an indicator can get you in and out, indicators usually good for one or the other, seldom both. Keep your hands off the mouse till you have a "slap in face" trade and not cause you getting bored, buy YoYo till trade appears.
Books never go far enough, always seems to be lacking one chapter.
You get your losing percentages down, can then ave down without fear of wiping out, and eventually go from retail to leasing a seat.
Congrats Dax Trader.
Try to do a buy and hold for the next five years and see what happens. If I'm not mistaken, the market returned approx. 150% the last five years! If that happened again, the DOW would be +40,000! What are the odds of that happening? I see more of a collapse in the next five years or some kind of crazy inflation. I totally agree that being well capitalized was a key to reaching my goal, because the learning curve to develop an intuitive approach can take a long time. I don't trade anything like any book I've ever read or heard anyone speak of. Some traders claim they can be successful trading at random with a good R:R...never worked for me. Why is it that some guys are good at picking up on women and most guys are average or worst? Most of the information about women is right in front of you...and you could just ask the womanizers for their secrets of success... is any of this true/effective? My point is, it LOOKS like all the information you need about women is right in front of you...it SEEMS like all the information about women should be in books...its ASSUMED that womanizers have given the world all the secrets. I believe there are some universal principles that men should use to get women...one is to make women feel...not think...but every women is different and it takes intuition to learn any specific woman. Don't you know your wife or girlfriend better than anyone else? Do you ask other men for "instructions" on how to make her "function" better (o.k. some of us do that from time to time), but you know her inside and out better than anyone else could. Know your methodology INTUITIVELY. So, you did tests on a ton of common principles of trading and you got nothing intuitive out of it? That's like dating a ton of women and ending up not knowing anything about women. You have learned more than you know...it's time to empty your mind of all those "facts" so that it opens up for INSIGHT! You'll end up back at some of those "facts" and "principles", but with a much more opened mind. Slice up, reverse, cut in half, or dissect any methodology/setup with an outrageous approach if need be. Then learn how it works in many market conditions and every type of change in volatility...DOCUMENT ALL and save. Did you backtest the past results of your wife or girlfriend when you met them? No, you had to learn her intuitively...no instruction book included. The point is, you can't backtest the art form of trading...at least the art form I'm talking about. I have a number of high probability setups, but they're only optimal if I read the conditions and volatility of the market correctly...if i don't...big losses! So, write your own book of technical analysis...write your own book of price action...a book of volatility and its affect on your method...market conditions and the affect on your method...indicators in an entirely different way...think/intuit outside the box...get crazy! Remember, that some crazy twist on something common/conventional can make all the difference! I also wrote something in the Career Trader section under "Why does it take so long?"...it also relates to this subject. GOOD LUCK!!!!!!!!!!!!!!!!!!!!!!!
I like this SAMUS. For me, I had to think outside the box and get what i call "crazy" in order for me to SEE/INTUIT market structure and market language!
