What is risk/reward knowing more than 90% of traders lose?
- Thread starter emg
- Start date
how can you make statements like these without knowing ANYONE's (other than urs) trading strategy ... there is a buyer and seller at each price with million different objectives.
there is a difference between a doctor and a medical student. A medical student never becomes a Doctor if he/she never graduates. he/she is a failure just like in any profession if they drop out. Ones who graduate become BETTER doctors over the period of time. Its the TREND in any profession.
remember the "blue elephant can fly over the orange river whne chased by white monkeys"
No, it is a negative sum game.
From the O'Dell Restaurant Consulting Blog:
"The cold fact of the matter is that opening up a restaurant may be one of the worst investments you could make with your money. Thatâs a horrible, sobering statement coming from someone like me whoâs in the business of helping restaurants succeed, but itâs the truth. Most restaurant fail. Oh, the failure rate isnât the â90%â you may have heard from friends and family, but according to Cornell University, and the National Restaurant Association, 60% of restaurants fail within the first three years of operation. After five years, the number might be as high as 75%."
that sounds about right and maybe similar to trading success.
My first trading account lasted 12 years before I finally blew it up.
I felt like a failure and was really demoralized, until just recently I thought about it. When I started all my kids were in grade school, by the time I went broke they were in college. Not bad when you think about how much I started with.
Something to think about:
Instead of worrying about Black Swan, just accept that if I keep doing what I'm doing I'll eventually blow up, but if I sweep, I may come out ahead.
Quote from bone:
It was a buying opportunity if you knew how to draw a trendline and didn't have up a one minute tic chart.
That's very subjective...!
But at least it works in hindsight...!
