The NO. 1 Secret Of Success In Trading

[volpri]

Useless information.

You need the account size, the leverage, and the profits in $ to judge the performance.

Maybe you made 4 winning trades, each 1$ net, on a 100K account...

Durn schweiz don’t be so negative about vicente. I am confident he made more than 1 dollar per trade. The account size doesn’t matter. If he has a 5000 account and makes 400 or has a 50,000 and makes 400. What counts is he makes 400 and has no losers. Bottom line. Of course, in such a case, he is not using his potential to the fullest but nevertheless he is making money.

 

[schweiz]

Durn schweiz don’t be so negative about vicente. I am confident he made more than 1 dollar per trade. The account size doesn’t matter. If he has a 5000 account and makes 400 or has a 50,000 and makes 400. What counts is he makes 400 and has no losers. Bottom line. Of course, in such a case, he is not using his potential to the fullest but nevertheless he is making money.

Maybe I am too harsh. I will back down a bit.

 

[qxr1011]

ROFLMAO... it doesn’t matter anyway...institutions do the majority of trading..our little coca cola and potatoe chip money means diddly squat in the overall senario. They could care less about our reverse engineering...whatever..

it does not matter who does majority of trading, they (institutions) do not control the market nor can actually profitably trade, they just accidentally, by the mere presence, create its forms

those few who have a method have their lips sealed and accounts spread between brokers

i actually surprised how much attention one newbie got , but apparently peopel are hungry

 

[OddTrader]

About the reverse engineering using two points: short signals on QQQ: yesterday at 11:51 with QQQ at 173.26 (around 11:50AM) and today QQQ at 172.64 (at around 1:54PM).
Reverse engineers this method.

You've provided too much information. 2 times of what he needs. He actually said 1 or 2 points!

 

[Sprout]

By reverse engineering I mean a fully working program that generates the buy and sell signals.
Not a description of more or less of what is used. Because many people know more or less what is needed. But the problem is to put it in a fully working system that exactly does what is needed.

The profits are generated in the last fine tuning of a system, not in the general idea of what should be done. General ideas don't generate any profits.

Ok, move the goalposts.

Reverse engineering your particular strategy it matters not. Reading the market during RTH is a general idea that leads to profits more than less. How one goes about reading the market makes all the difference.

We'll have to disagree that general ideas don't generate any profits.

General ideas lead to comprehension. Comprehension leads to understanding. Understanding leads to discernment of underlying principals. The discernment of underlying principals leads to facility. Practicing facility develops one's capacity. Having capacity puts one in the position to receive the full offer of the market on any given timeframe.

ymmv

 

[ironchef]

We'll have to disagree that general ideas don't generate any profits.

General ideas lead to comprehension. Comprehension leads to understanding. Understanding leads to discernment of underlying principals. The discernment of underlying principals leads to facility. Practicing facility develops one's capacity. Having capacity puts one in the position to receive the full offer of the market on any given timeframe.

ymmv

Very well said. Successes in any profession/disciplines start with a fundamental understanding of the problems/issues.

 

[digitalnomad]

those few who have a method have their lips sealed and accounts spread between brokers

Why do you spread accounts between brokers? In case one goes belly up with your dough??

 

[schweiz]

General ideas lead to comprehension. Comprehension leads to understanding. Understanding leads to discernment of underlying principals. The discernment of underlying principals leads to facility. Practicing facility develops one's capacity. Having capacity puts one in the position to receive the full offer of the market on any given timeframe.

So the general ideas don't lead directly to profits. That's what I wanted to say. It can be a starting point, but there are further steps needed.

 

[schweiz]

Why do you spread accounts between brokers? In case one goes belly up with your dough??

I know why. I had an account with REFCO...

 

[tradingjournals]

If I had started this thread, I would have used No 1 insight rather than No 1 Secret. In trading I would say that bars generally get taller as a move progresses. An implication of this is that trading is one the rare areas where being late could be better than being early. There are other implications.