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Playmate of the year is a successfull daytrader, see how easy it is?
- Thread starter Max E.
- Start date
If everything is 50/50 it would mean that in the long run:
- number of profitable trades should be equal to number of losing trades
- profits will be wiped out by losses resulting in zero result
- random chance will have no impact on the final result because random chance would neutralize itself
So you trade your whole life for making no profits? If you make profits it means everything is not 50/50. And even if you have good luck, bad luck will take your profits away again, that's inherent to random chances.
If Max can maintain a 70% win rate it means that things are not random.
A Random Walker would say that his win rate is random when you consider others who have a 30% win rate it evens out.
I don't know why you are so preoccupied with the way I trade. All I do is cut my losses short and let my profits ride. And I am constantly working spreads. I know I have a risk of ruin and don't ever try to fool myself about that. Now, if you want to go to all the trouble of trying to put that into some kind of math formula that I won't understand, be my guest.If everything is 50/50 it would mean that in the long run:
- number of profitable trades should be equal to number of losing trades
- profits will be wiped out by losses resulting in zero result
- random chance will have no impact on the final result because random chance would neutralize itself
So you trade your whole life for making no profits? If you make profits it means everything is not 50/50. And even if you have good luck, bad luck will take your profits away again, that's inherent to random chances.
If Max can maintain a 70% win rate it means that things are not random.
My style is not for everybody. It works for me. I don't try to tell you what is wrong with you, it's getting a little old when you try to tell me what I am doing wrong.
I would wish you good luck, but you might take it as an insult.
I don't know why you are so preoccupied with the way I trade.
I am not preoccupied with your trading, am even not interested in it.
But some of your statements sound like nonsense to me. I react as Marketsurfer does also all the time. If somebody else would post what you post I would react the same way. It is nothing personal. At least for me it is not, maybe for you it is.
I don't need good luck, I trade my system and know more or less where it should end statistically. I replace luck with math. Much more reliable and quantifiable.
These are typical statements that you find in every book about trading. Has no earth shocking value at all."All I do is cut my losses short and let my profits ride."
You make that sound easy in reality I find that difficult to do.
You can say as well: I try to make a lot of money and never lose. Has the same value.
These are typical statements that you find in every book about trading. Has no earth shocking value at all.
I agree. But practicing it proves more difficult than simply understanding the concept.
you must choose sides"All I do is cut my losses short and let my profits ride."
You make that sound easy in reality I find that difficult to do.
my side says cut your losses short and let your profits ride
the other side says, "Never let a winner turn into a loser."
My #1 rule is, "Never take a profit." And on a good day I will violate that rule 3 times.
I always know how much I can lose, I never know how much I can make. Sometimes it's the big grand slam, sometimes it's justa bunch of timely singles.
There is absolutely no stress because everything is mechanical except for one decision. And that is when to take a profit. How would you like a job where your only responsibility was to decide when to take a new profit that will take out the accounts old high? Pretty low stress creamy job, right?
I agree. But practicing it proves more difficult than simply understanding the concept.
Indeed, put it in reality that's the problem. But that they don't explain in these books.
So what's the value of knowing what you should of they don't tell you how? All these writers should be trading billionaires, but all they do is fill enough pages to sell it as a book.
Some of them try to make a reputation as supertraders, only to sell books to their admirers at ET. Fill in the names yourself.
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My #1 rule is, "Never take a profit." And on a good day I will violate that rule 3 times.
This is a perfect example of your nonsense. Never take profit and violate the rule 3 times a day.
What's the use of a rule if it is never applied? Try to impress people with weird statements?
I heard already many weird statements from trading advisors, most of them end up in jail.