someone should do this
- Thread starter Gordon Gekko
- Start date
I'm known for making statements like that.. So, if you were referring to me, let me make a little correction. I say if markets are random it would be just as hard to lose as to make money..
My take on why it is impossible to 'fade yourself' is this: you decide to enter a long, but, thinking that you're such a bad trader, you short instead. When it comes time to exit, again thinking that you're such a bad trader, you reverse the decision, but this would mean you need to sell more. How would you ever exit your position?
Are we to infer then that consistent losers are conistently incorrect on either entries OR exits but not BOTH?
I suspect 95% of all losses are accounted for by commisions, slippage, and spreads, in the long run.
No 'fade' system will overcome this. Winning traders overcome it buy trading well, losers simply waste away.
Finding a true 'useful idiot' is a non-trivial task.
Unless we have some volunteers?
No 'fade' system will overcome this. Winning traders overcome it buy trading well, losers simply waste away.
Finding a true 'useful idiot' is a non-trivial task.
Unless we have some volunteers?
the best way to get a loser to win is to enter him/her in the "world cup of losers". in this contest you lose by winning, so the losers will cut their losses instead of wins and let their winners run---thereby losing by winning. this is paraphased from 'winnere take all". one of the 3 all time top trading books.
best,
surf
best,
surf
---so maybe we could learn from each other's mistakes
i think, first-you, gordon, have to change this to-Losers must read or something similar))))))
---someone should do this--- not a right name for it.
most of common mistakes and losses(from my own experience too) -come from our own discipline. we refuse to take a loss, we refuse to exit, when our own trading system tell us to do so,
trader,investor,-you name it MUST have plan and MUST follow it no matter what. you must know-what you going to do, if trade turn against you-it a first thing, second-when to exit, if you make profit. all problems-inside of us-greed,fear-just some of them, if you can fight with them-you will beat the market.
and don't change plan after you make first step already.
i think, first-you, gordon, have to change this to-Losers must read or something similar))))))
---someone should do this--- not a right name for it.
most of common mistakes and losses(from my own experience too) -come from our own discipline. we refuse to take a loss, we refuse to exit, when our own trading system tell us to do so,
trader,investor,-you name it MUST have plan and MUST follow it no matter what. you must know-what you going to do, if trade turn against you-it a first thing, second-when to exit, if you make profit. all problems-inside of us-greed,fear-just some of them, if you can fight with them-you will beat the market.
and don't change plan after you make first step already.