The NO. 1 Secret Of Success In Trading

schweiz said:
Proof is only relevant if you have a 3-5 years profitable track record, and a statistically significant number of trades. Both requirements are still missing, so you have nothing relevant till now. At least drawdowns, sharp ratio and consistency need to be included in the analysis as well. The fact that you only speak about profitability shows that you are a newbie, just like all of us when we started trading. 1 positive element (being profitable for 6 months) does not make you "special", for being "special" you need much more.

And even then the evolution of your account should be analyzed. If you have a first year with 250% profits and after that 4 consecutive losing years with total losses of 200%, you are still profitable but nobody will ever invest in your trading.
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I read somewhere online “
Traders don’t make 100%-200% annual returns.

In fact, almost 100% of retail traders lose money.”

I don’t know how true that is. But my mentor told even if you made $1 by end of the year as a beginner you have beaten 90% of the traders out there. I don’t look to make 250% profit like you claim that I made. Heck most hedge funds could barely beat the market each year and they have more money than you and I.

So stop trolling and hating. I’m gonna continue doing my thing.
 
vincentnyc said:
I read somewhere online “
Traders don’t make 100%-200% annual returns.

In fact, almost 100% of retail traders lose money.”

I don’t know how true that is. But my mentor told even if you made $1 by end of the year as a beginner you have beaten 90% of the traders out there. I don’t look to make 250% profit like you claim that I made. Heck most hedge funds could barely beat the market each year and they have more money than you and I.

So stop trolling and hating. I’m gonna continue doing my thing.
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It is not trolling, after 3 to 5 years of positive returns you can start to consider yourself a profitable trader, for now keep the ego and continue working.

"Traders don’t make 100%-200% annual returns."
Don't true, it is possible but hard, good daytraders made spectacular returns.

"In fact, almost 100% of retail traders lose money.”
I agree
 
Evermore2017 said:
It is not trolling, after 3 to 5 years of positive returns you can start to consider yourself a profitable trader, for now keep the ego and continue working.

"Traders don’t make 100%-200% annual returns."
Don't true, it is possible but hard, good daytraders made spectacular returns.

"In fact, almost 100% of retail traders lose money.”
I agree
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these past 10 years we were in a bull markets. anyone who traded can make money within these last 3 - 5 years. so your logic there is wrong. we are in the beginning of a bear market. we will see if who will make money in this turmoil, volatile environment. survival of the fittest.
 
vincentnyc said:
we are in the beginning of a bear market. .
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Thats a pretty strong assessment of things. On what do you base your statement? I hope not the recent volatility. You can lay that blame squarely on DC. Bull markets have corrections. In the first 40 days of 2016, the S&P lost almost 14%. We all know what happened next.

Earnings are strong. Worldwide growth is decent. Energy is stable. Unemployment is low. Housing remains strong. Consumer confidence is up.

We live in the best of times. Barring a major geopolitical event with the West vs. Russia.... buy quality growth stocks on the pullbacks.

And all that being said... why do you care anyway? If you're making several trades per day your time-frame is hours, not months. Short when they head down.... buy when they go up. Flatten out at the EOD. Easy as that.
 
vanzandt said:
Thats a pretty strong assessment of things. On what do you base your statement? I hope not the recent volatility. You can lay that blame squarely on DC. Bull markets have corrections. In the first 40 days of 2016, the S&P lost almost 14%. We all know what happened next.

Earnings are strong. Worldwide growth is decent. Energy is stable. Unemployment is low. Housing remains strong. Consumer confidence is up.

We live in the best of times. Barring a major geopolitical event with the West vs. Russia.... buy quality growth stocks on the pullbacks.

And all that being said... why do you care anyway? If you're making several trades per day your time-frame is hours, not months. Short when they head down.... buy when they go up. Flatten out at the EOD. Easy as that.
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charts and heart and my damn eyeballs. we will see if i'm right in the coming weeks or months if this is the beginning of the bear market of 2018. i also do swing trade where i hold position multiple days, weeks and months.
 
Look like I’m right after all, 4/2/18...market down 700+ this afternoon. Beginning of a bear market because I said so!
 
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The NO. 1 Secret Of Success In Trading: excel in problem solving.

Knowledge is not the key to profitable trading. Problem solving is.
If you have the basic knowledge necessary to start trading, you should focus on the problem solving part.

I first noticed the importance and the necessity of being a good problem solver when I was still working as treasury manager in a billion $ company. When I left the company we had to find somebody to take over my job. We found quite a few candidates who all had a higher degree then me and were smarter then me when it came to pure theoretical knowledge. But the problems started when they had to do a real life test. We needed a lot of candidates before we found one who was able to use his knowledge to solve unpredictable problems that occurred and for which there was no standard answer. The way the acquired knowledge was used showed us which candidate we needed.
Creativity and out of the box thinking is also very important as it can lead to insights you will never find otherwise. All this explains why some people can what others cannot.

Problem solving can only be learned till a certain level, so it is not like theoretical knowledge you should just learn by heart. You, or rather your brain, should be gifted with a "problem solving logic" way of thinking. A lot of people are not able to do this.
 
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