What did you learn this year?

Quote from Algorithm:

Response to O.P. question:



That there are very few elite traders in the Elite Trader community.

Mostly garbage posted here by a bunch of twenty-something wanna-be/pie-in-the-sky lemmings.

Still are suckers born every day, and coming to this site only bolsters the confdence of the real traders that are making it day in and day out.
More...

You've got it. Need to use the BS detector. But still some bits of good information sometimes. And one has to like the 100% room to go !
 
Quote from Algorithm:

Response to O.P. question:



That there are very few elite traders in the Elite Trader community.

Mostly garbage posted here by a bunch of twenty-something wanna-be/pie-in-the-sky lemmings.
More...

So true, fortunately I learned that a few years ago.

This year I learned...."SIZE...you gotta do size." I remember that quote from somewhere I cant recall, but it never really sunk in until this year.
 
That there are still idiots in the market. I made several hundred thousand dollars in a two month period triggering a black box that was left unmonitored.
 
Some stocks I bought this year dropped more than 18% the day after I bought 'em.

But it was okay, 'cause it was on LOW VOLUME!!! :D

J/K Good trading to all! :cool:
 
When entering a trade, amateurs think about how much they can make, pros think about how much they can lose. Learn to focus on the losses, the profits will take care of themselves. That's what I learned this year.

+-*/ Math_Wiz
 
I learned that my #1 enemy in trading is myself.(emotions)

I learned that I need stops on every trade, and that I need to take more smaller losses before letting them turn into big fat losers. (as opposed to trading until I've reached an uncle point, where you can't take any more pain)

I learned that I need a system that tells me when to enter, or else I end up taking impulsive trades.

Also, trade the trend, don't over leverage yourself, don't add to losers, and have patience.
 
I changed my instrument this year too - from ER2 to NQ....and moved up to 10min TF from 3min.

I learnt the tide/wave/ripple lesson....now I'm just trading for the primary 1-3 day swings evident in the futures.....not 2-3min ripple scalps.

My biggest weakness is controlling my reversal bias when in strong trends....that's my 2007 homework.
 
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