I have a few recent posts I need to answer but here I thought I would make a general statement.
In ET, there are several well-known contributors and they trade at various levels of money velocity. It is interesting to note their cutoff profit limits on their day trading and what causes it.
Anyone reading their works can make some determinations on this.
A few examples follow.
Acrary and stat posts. He follows a statistical approach where the edges can all be ranked by statistical measures for their effectiveness. One aspect of this is how often the edge appears. I havenât really done anything more than accumulate about 80 or so of these that make money. To rank them by their bottom line, requires that their frequency of occurrence be cataloged and then adding to that their effectiveness to get the equity curve. A subset is back testing and forward testing and paper trading. All three of these do not work in general in ET. This is a key area to log âwhat things people do not know that they do not knowâ.
People who are better than everyone else using their unique approaches. PTR, AMT, some ET journalists, etc. This spectrum has specific statements about the dangers of this or that with respect to their super systems. The top limitations so far are âchopâ and lack of liquidity, mostly seasonally. A third set is the marketâs change in operation and the changing times, economically speaking. Systems here, occasionally wear out.
The big ten. These maximum level posters tend to be stuck in their ways and they also are guardians and protectors of people with few posts. Their methods are not too specific but their limitations are the best known of all the trading methods available. For me, this is simply a mother lode of information on what they and those they guard, cannot do in markets. These are definitive trading limitations for them and it is a good idea to pair off each limitation with the corresponding difficulty in their method. Because they post continually and play the same record mostly, you can relate what they are guarding to what they do. I call not being able to solve any problems that are known to a person with a big number of posts, as being âstuckâ.
Group B. Detractors donât trade with any specified announced methods but they contribute a lot on how they view what is possible for them and also what they think others can do. They do focus, as the big ten does, repeatedly on their pet limitations.
Losers. Et has a lot of losers; that is, people who cannot trade because of four or five basic problem themes. Each theme stems from a combination of myths and misinformation. And there is always a key absence of something that would straighten them out promptly. They cannot accept any input from others as a consequence of a set of limitations. It is a must to have their statements and reasoning for why they cannot be accepting.
Limitations. There are classes of limitations and organizing them is a good idea because then you gain familiarity with what to stay away from.
Myths. Myths are brought to trading from three places: Life experiences, trading associations, and the learning approaches that a person has used.
Designing stuff for trading. Recently, there has been a rash of advice on how to get started and how to design a trading approach. Fortunately, some suggestions have been responded to by novices. These responses do help to point out he irrationality of some suggestions and the presumed validity of others.
By being rational as reading and reviewing is carried out, you can get a comprehensive universe with two main subsets of what to do and what not to do.
All of this has one underlying theme: how peopleâs minds work and do not work.
A lot of people suggest not doing what others contribute. There is a direct mind comparison connection for the âcontributionâ and the ârejection of the contributionâ. It is always worth checking out why this has occurred.
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