u gotta be dumbass to be a rich trader, smartasses go broke

[athlonmank8]

Quote from cornixforex:

Yeah, managing the good winner correctly after a series of losing trades is one of the toughest emotional challenges in this business.

And, IMO, that is the reason why so many fail to trade simple trading methods, which have relatively low hitrate and why these low hitrate high R/R methods are the most profitable.

Yup, the grind is the most frustrating. But if a casino can do it, so can traders.

Quote from No.Heat:

Entering with the lowest amount of heat possible is key because then you can use as much leverage as possible and you can kill the loss ASAP should you be wrong.

Then as far as the exit you take what the market can give you whatever that may be either by trailing or scaling.

But learning about those no heat high probability turning points is what really takes you to the next level.

NH

Exactly. They're on here too.

Once you've got S/R down you can even incorporate new things like cycles to increase win rate. But you have to walk before you can run.


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You have to be smart enough to attain and edge. You're not going to come here your first year and start smacking around the market. As with anything, you get better the more you practice. Eventually you'll make it. Smart and "smart" can be two different things. I think this thread over-simplifies it.

 

[cornix]

Quote from athlonmank8:

Yup, the grind is the most frustrating. But if a casino can do it, so can traders.

Yeah, even have to become like a casino, execute with no emotions involved (to the max degree possible).

Exactly. They're on here too.

Once you've got S/R down you can even incorporate new things like cycles to increase win rate. But you have to walk before you can run.

S/R are great, yeah!

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You have to be smart enough to attain and edge. You're not going to come here your first year and start smacking around the market. As with anything, you get better the more you practice. Eventually you'll make it. Smart and "smart" can be two different things. I think this thread over-simplifies it.

Agree again. You have to be smart and deliberate enough to collect stats, interpret it correctly and build a trading system upon it, plan your trades well.

But dumb enough to not think over every trade, just trade your plan.

 

[stockstalkerv3]

Quote from NoDoji:

First, I thought he wasn't very smart because he was waiting so long to get into trades instead of just getting in while price was at a bargain entry. "If the price of ABC goes above 45.26, I'm long; if the price of XYZ drops below 38.72, I'll sell short." I mean, how dumb is THAT?

Sometimes people appear dumb (intellectually inactive) b/c they already thought things out.

 

[savagemp5]

btw on the quants,

they use sophisicated computers that sits right beside the Exchange Computers and trades at speeds of 10-100 trades per microseconds. Thats just roughly 10,000 - 100,000 a sec in case your slow in maths.

Take a look at index/futures, relative value arbs, and probably some other strategies that I shan't disclose here.

And do accept the fact that over 90% of volume u see running are computer generated. Basically market makers buying and selling with each other to create volume so that you, the "market" can trade. btw Hedge funds don't really much trade over ECN since they have dark pool alrdy.

I don't work in huge banks or firms btw.