GABOS.
Larry Williams
- Thread starter mikeriley
- Start date
GABOS.
Casinos can know their edge using mathematics (statistics). Traders don't have that luxury. The best we can do is gather as many datapoints as we can, so we can see as many drawdowns as we can. If each drawdown low is higher than the prior drawdown low, and you can see ten drawdowns, then this might be called an "edge" with air quotes. A hundred drawdowns is better. It indicates how much leverage you may be able to use relative to how much of a drawdown you would be willing to withstand/stomach.
One year, 2017 i went from i think it was about $4k of my own capital to $167k, all in cryptos. But it was not sustainable and mostly foolish. Without an actual edge or method i gave most of that back in the ensuing crypto bear. One of my "trades" started with $700 and peaked at $111k. But i only walked away with $20k. All of that was lost except for a $5k bet on a crazy alt coin crypto, which peaked out at over $300k during the next bull market. But then i lost the SD card where i kept the keys to that wallet. Getting to that $700 "trade" though, i had several others where the rug was pulled sooner than later. If i had not got out with $20k, and waited even three weeks more, i would have lost it all on yet another rug pull.
So anymore i just stay with the most liquid and trustworthy crypto, BTC, and only apply my method. I'm not automated yet so i can't speak of a million dollars in a year yet, but the leverage is there whenever im ready.
Ouch.
Hello semperfrosty,
Correct! You nailed it. GABOS!
People hungry, people got bills pay and EVERYONE want a million dollars QUICKLY. And if you got money in your pocket you trying to flip 100%, someone got a dream for sale for you.
Look at your buddy Al Brooks, he about to make a million in 2024. $3000 per customer.
I like Al Brooks hustle. You can not be mad at him. But look at @padutrader , haven't made a dime off his teachings.
If you really think about this trading shit, its beautiful game, if and only if you smart. It just a Hustle game.
Hustle ticks or Hustle people.
https://www.brookstradingcourse.com/workshop/al-brooks-live-trading-workshop-orlando-2024/
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LOL that's all right. Larry W has some good written points .
One real estate appraiser's wife said, we would rather manage our own money.
I all most bought a used book by one of his comanagers ;
but that Jake Bernstein book did not seem to have any new material.
Yep,hats off to him but I dont think he'd be my cup of tea.
But that's the thing, he did make a million actually a couple. They (the financial industry and the justice dept) took him to court but didn't win. Unfortunately you gotta read about it and I know you don't read.
You gotta believe me man. Have I ever lied to you before.
Trading stocks part time. Little bit of margin involved but no energy spent clicking a mouse and trying to recover from drawdowns. Like they say (different they) to be different you gotta do different.
Good trading my man; good trading!!
Hello deaddog,But that's the thing, he did make a million actually a couple. They (the financial industry and the justice dept) took him to court but didn't win. Unfortunately you gotta read about it and I know you don't read.
You gotta believe me man. Have I ever lied to you before.
Trading stocks part time. Little bit of margin involved but no energy spent clicking a mouse and trying to recover from drawdowns. Like they say (different they) to be different you gotta do different.
Good trading my man; good trading!!
The book is 250 pages long.
Man, I do not think you understand me quite well. It is dumb to reading trading books. Why the heck I need to read 250 pages long book messing up my brain, when I can open the chart right now, and take a trade and bring in some money.
It should not take 250 pages to explain to me how to make money trading in the ES futures market.
That is dumb spending alot of time learning to trade. I already wasted enough time.
Not reading no damn 250 page book man. That is a waste of time.
Like think about it, 250 pages? Seriously, you want me to read 250 pages of a trading book? I can not do it. Just a waste of time.
Trading is not that complicated.
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I agree!! Trading is easy!!
So where is your million?
Maybe you should be reading rather than wasting your time watching a chart and clicking buy and sell.
Ever add up all the time you spend trading and then figure out how much you are making per hour?
Hello deaddog,
You will never in your life see me read a book on trading. EliteTrader website and chart is all I need and the following:
Buy Button
Sell Button
BackTest Button.
Everything else is scam and lie, until I can prove otherwise, I said until I
Millions on the way, trust that!! ET will be the first to see my account when its there. I am making money in the futures market!!