Tired of losing money every trading day

The financial markets is between Smart money and Dumb money. Smart money consistently takes money out of the pockets of Dumb money.

Smart money has learned by experience they simply need to practice what Dumb money
refuses to practice.

Dumb money will not practice..
# Adequate education and refresher training.
# Trading plan & strategy development for a definitive edge.
# Mental state development.
# Risk & money management.
# Change of beliefs and biases that hinder improvement.
# Following mentorship, counseling and coaching.
# Structured performance metrics to learn from mistakes.
# Effective tools to stay in tune with the market.
# Proficient tactics to increase profits in managed positions.

Dumb money is under the illusion they can
get rich if they just "wing it" every day.

All Retail Traders start on the dumb side
of the market. Every trader decides if he
or she will stay there.
 
BlueWaterSailor said:
That's a common misconception. Which is odd, because a one-second thought experiment would tell you that. There's an infinite number of ways to do something wrong, and usually only one (or just a few) ways to do it right. So, "reversing" a bad approach is almost certain to result in another bad approach.
More...

Wrong.

I'll challenge anybody on this board to code a stock trading strategy the consistently loses I bet you they can't.

Fees not included.

Seriously trading is just 50/50 coin flips for the clueless if you're really that good at losing money very consistently then you should actually be pretty good at making money.
 
Last edited:
VEGASDESERT said:
Wrong.

I'll challenge anybody on this board to code a stock trading strategy the consistently loses I bet you they can't.

Fees not included.

Seriously trading is just 50/50 coin flips for the clueless if you're really that good at losing money very consistently then you should actually be pretty good at making money.
More...

Krusty could do it!!

 
VEGASDESERT said:
Wrong.

I'll challenge anybody on this board to code a stock trading strategy the consistently loses I bet you they can't...

Seriously trading is just 50/50 coin flips for the clueless if you're really that good at losing money very consistently then you should actually be pretty good at making money.
More...

Enter a stock trade. Target 100 ticks. Stop 1 tick. There. You have just found a consistently losing strategy.
 
hilmy83 said:
Some dude long ago told me that risk should be managed by size, not with stops.
More...

That must have been during the old times, when E-micros did not exist, and the ES ranged 5 points per day. These days, 1 micro lot can get you into a lot of trouble without a stop. And you cannot get smaller in size than 1 micro in something like the ES.
 
You must log in or register to reply here.
Back
Top