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Trading is NOT a business
- Thread starter TFtrader
- Start date
It is true that trading is not a business, but it should be treated like a business to win. A large percentage (95%?) lose.
To the OP:
Signals matter little. You are researching the wrong area.
Successful trading is successful money management. You should research things like reward:risk ratios and position sizing and bother less about technical indicators.
Signals matter little. You are researching the wrong area.
Successful trading is successful money management. You should research things like reward:risk ratios and position sizing and bother less about technical indicators.
technical analysis is for suckers.
Quote from TFtrader:
It is amazing how many people fall into this trap of trading month after month. I have been back testing and forward testing numerous different trading systems and strategies for more than two years. My focus however was on index futures and currency futures. Spending more than 6,000 hours with analysis for this venture, I did not find anything that would nearly be reasonable to call a somewhat viable solution.
Her are just a few systems and indicators of my testing including any possible combination of them:
- MACD
- Stochastics (fast and slow)
- CCI
- Woodies CCI (incl. Woodies trading patterns)
- Moving Averages (SMA, EMA, WMA, TMA, HMA)
- Opening Range Breakout
- 1-2-3 Reversal patterns
- Trader Vic's 2B method
- different price action patterns with and without any indicator
- classic trendline/trendline breaks
- etc., etc.
None of the systems actually generated more profits than losses over time, even by reversing buy and sell orders against the signal/pattern. I have become suspicious that this is nothing but a monkey business, because trading systems strangely seem to be profitable only when paper/simulated trading instead of actual money.
Finally, I have come to the conclusion that one cannot generate any profits by trading. This is an expensive and very time consuming hobby which comes with a daily agony. I do admire the industry and its marketing machinery, as it continues to lure people into this fruitless business for a sheer endless money supply.
Greetings,
TF Trader
Quote from candletrader:
To the OP:
Signals matter little. You are researching the wrong area.
Successful trading is successful money management. You should research things like reward:risk ratios and position sizing and bother less about technical indicators.
Candle,
Enlightening post. Do you know of any threads here on our beloved ET that touch this topic in an intelligent fashion, I would like to expand my studies.
Thx
The indicators you have mentioned were devised by authors who wanted to sell books. I have created several really cool looking indicators myself, that are just as accurate as the published ones. And just as unprofitable.
Profitable indicators, the ones that really do spit out a green light for buy and red light for sell, have been created by actual profitable traders. And they aren't publishing their golden goose.
Profitable indicators, the ones that really do spit out a green light for buy and red light for sell, have been created by actual profitable traders. And they aren't publishing their golden goose.
being very in the money.
i can tell u none of those methods u mention have any resemblence to what im thinkin when im in a trade.
i dunno who created those macd even moving avgs. its just some play w numbers with linhes drawn after.
i wouldnt teach none of u either. just every now and then when i see total stupidty in trades and trade reasonings . iwould post a' god damnit thats retarded tis is the right way to trde' post
be glad im bored and annoyed frequentl
i can tell u none of those methods u mention have any resemblence to what im thinkin when im in a trade.
i dunno who created those macd even moving avgs. its just some play w numbers with linhes drawn after.
i wouldnt teach none of u either. just every now and then when i see total stupidty in trades and trade reasonings . iwould post a' god damnit thats retarded tis is the right way to trde' post
be glad im bored and annoyed frequentl