Righteous Drawdowns

[SimpleMeLike]

There is another way to make money: Be lucky. Luck plays more in our trading successes than many realized. There is no certainty, it is all probability. There are some skills needed but for example, luck is timing, be in the right place at the right time.

ironchef,

From my 1.6 years of hardcore trading every single day, you are CORRECT. Luck plays a huge rolls, because you can have the perfect trading method or system, but if the market is not making those big swings, it hard to make big money.

For example, last Friday, Trump speech on oil demands caused crude oil to swing like 3 bucks in one day. I was in the right place at the right time.

Being prepared and avaiable for the big trade is good. Luck is involved. You are right about that.

 

[murray t turtle]

S&P 500 didn't kick out GE, DOW did.

But, it is still true that SP500 is self selecting and so there is an up bias: If the company does so bad to be kicked out because market cap falls below threshold, it is like a stop loss. Am I making any sense? Not a prediction.

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That + plenty of reasons for good stock to go upmostly + they do.Plenty of reasons badly managed stocks to downtrend like TSLA, again, again.Not a prediction, not bank insured...………………………………………………………………...