The most difficult part about trade idea generation?
- Thread starter NT2020
- Start date
Hi I'm new to EliteTrader. I'm curious to know everybody's thoughts on what's the most difficult part of generating a trade idea? maybe current tools good to use, or hard to get the data you need, etc.? Look forward to hearing from everyone!
The most difficult part of generating a trade idea is whether the trade will work out in the end. I mean, who knew Amazon would be what is today after watching shit like this 20 years ago?
So how do we compare that to today? Well, we cannot. We can only look for the next best trade idea.
Personally, I would invest in Covetton House.
(I realize this does not answer your question, not really, but it is funny I think. And you'll need funny as a buffer to the stuff you may encounter along your journey.)
Generation isn’t the most difficult part.
What’s tough is not knowing if it works.
There is no right or wrong answer.
It’s not binary neither.
It’s tough to feel genius at 4pm and feel like shit at 4pm and 30 minutes.
Uncertainty, probability...
We ain’t good at this.
We’re seekers (suckers) of certainty.
We want answers and see patterns into chaos.
Generating should not be your problem.
Testing is the real one.
How can I tell it’s worth my investment ?
How much should I allocate ?
Is it Profitable ? What’s the Risk ?
You can generate whatever you want.
But if you can’t make a diff between a business and a scam ... No thank you
What’s tough is not knowing if it works.
There is no right or wrong answer.
It’s not binary neither.
It’s tough to feel genius at 4pm and feel like shit at 4pm and 30 minutes.
Uncertainty, probability...
We ain’t good at this.
We’re seekers (suckers) of certainty.
We want answers and see patterns into chaos.
Generating should not be your problem.
Testing is the real one.
How can I tell it’s worth my investment ?
How much should I allocate ?
Is it Profitable ? What’s the Risk ?
You can generate whatever you want.
But if you can’t make a diff between a business and a scam ... No thank you
The most difficult part is that there are too many ideas.
Hi I'm new to EliteTrader
acceptance of the trading reality is most difficult
- you have to manage risk and think about risk first, about profit second
- you must do not fall in the endless loop of searching perfect strategy aka holy grail because it does not exist
- you have to forget employment reality where you are paid for your time, market doesnt care about your time
- you must fight desire to jump in market with real money ASAP instead develope and backtest strategy and it takes lots of time
Sekiyo,
You NAILED it sir.
You come up with whatever idea you want. It means nothing if the idea does not make money over a series of XXX to XXXX amount of trades over a +240 days of trading. All that risk and patterns and this and that and mindset and psychology is bullshit if it doesn't make money.
Correct testing for consistent profits is all that matters. And getting education and experience.
Also, ALL this takes ALOT of time. ALOT of time.
My advice, get educated, get an idea from your education, test your idea
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The hardest part is finding the right idea, which is satisfactory for everyone and of course it works.
the hardest part is to fall and not want to get up for fear of falling again, it's all about perseverance and trust
the hardest part is to fall and not want to get up for fear of falling again, it's all about perseverance and trust