To be a great trader you must think like a "pro dealer."

I would word it differently but I agree that finding that "positive expectation" is simply a very hard thing to do.

Quote from 1a2b3cppp:

There reason there are so many failed traders is because no one has a winning system.

People blame it on other things, like gambling (which admittedly, some people do treat it as), or poor discipline, and that may be true, but even perfect discipline only works if you have a profitable system, and almost no one does.

I believe last time this argument was made, someone replied with "no, it's discipline. There are tons of profitable systems out there, people just can't follow them." LOLOLOLOLOLOLOLOLOLOLOLOLOL!!!
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Quote from Swan Noir:

I would word it differently but I agree that finding that "positive expectation" is simply a very hard thing to do.
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Agree completely. And then having the sense to make the necessary adjustments in order to maintain a "positive expectancy" under dynamic and evolving market conditions.

In terms of "discipline"; well, do not underestimate the ability for certain human beings to butcher a perfectly reasonable trading system. If you take a very simple system that by all rights is 'mechanical'- say, a 5 period to 20 period MA Cross using 5 minute bars, the performance variance between 20 traders subjected to identical markets is wider than it ought to be...

That five inches between the ears is quite the wild card variable.
 
Quote from Swan Noir:

I think he is capable of bring the majesty the title deserves to it. I also believe that while many may vie to be #1 it will be a cold day in hell before anyone even gets close.

But yes ... there is room for disagreement and I welcome all submissions of past posts if anyone thinks they have one that competes with the sheer level of ignorance displayed by the OP in his opening post. His ignorance of the way the game is dealt is truly stunning!!
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it didn't take long for a worthy contender to arrive on the scene. the cold day in hell has arrived.
vlcc.gif


let's rent this super freighter for $608 for u and your friends.
http://www.elitetrader.com/vb/showthread.php?threadid=245536
 
Quote from bone:

Agree completely. And then having the sense to make the necessary adjustments in order to maintain a "positive expectancy" under dynamic and evolving market conditions.

In terms of "discipline"; well, do not underestimate the ability for certain human beings to butcher a perfectly reasonable trading system. If you take a very simple system that by all rights is 'mechanical'- say, a 5 period to 20 period MA Cross using 5 minute bars, the performance variance between 20 traders subjected to identical markets is wider than it ought to be...

That five inches between the ears is quite the wild card variable.
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If I'm ever at a garage sale and I see a picuture of Lyndon Johnson, I'm going to buy it and put it on my wall in my trading room to remind not to do with my system what he did to society.

Don't take something that is good and try to make it great.
 
Quote from Swan Noir:

lol ... and I thought it would stand for decades. Never has a record with so much going for it fell so quickly. It would be as if DiMaggio's 56 game hitting streak was broken in June of the next season!!
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you don't put much faith in your fellow ET posters. I expect this record to be broken shortly.
 
Quote from cornixforex:

I seriously doubt those who move liquid markets intraday do it to just get the money from us retail pikers. :D
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retail pikers can distort the market for a few seconds. then some nervous big player takes the wrong course of action.
 
Quote from HATEtheRisk:

The rules the dealers follow are hand written in my fucking rulebook.
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so it is actually true, to be great, you must follow the rules in your rulebook
 
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