What is your "TRADING HOLY GRAIL"?

Quote from cnms2:

buzz,

I subscribe to your opinion. There are several quite different methods of extracting money from the markets, but all should have the same denominator: good money management:
  • saves your skin when you're a market newbie
  • keeps you in the market long enough to find your edge and brush it up
  • allows you to extract the maximum amount of money from the market once you have a profitable system
  • protects your gold nest from black swans and system degradation
More...
money management?
That's the loser's Holy Grail. :D
If you learn how to make real money, you can be bothered with that kind of nonsense.

:cool: nononsense :cool:
 
You can enter the market at any price and make money, as long as you know, where you are going in terms of getting out with a loss and profit
 
Quote from bighog:

Here is something else that was part and parcel to LEARNING how to trade. Before i ever realized the mkts were so difficult to trade i was like many other newbies to the world of trading. I assumed i just needed to learn more and it all would fall in line just as easily it is to learn any other profession. WRONG!!!!!

Edge trading (as i call it) is what separates the men/boys, Ladies/bimbos. How many will admit to trading with their hard earned money and just having NO idea what the heck they were doing?

I said to self: Self, you are doing something terribly wrong, either find out what is wrong or else throw in the towel and marry for money.....:mad:

I reread a couple technical analysis books and then went to the CBOT and to the Chicago Merc and offered to buy a drink here a cup of coffee there and chit chatted with some members in the red jackets etc. Most were very helpful and friendly, COOL!!!

Get your EDGE was the general theme from the pros, find your niche, you have enough knowledge just widdle it down to something you can use day in day out.


When i finally did that it was a world of difference getting up in the morning to trade. I was excited, juiced, and ready to go. No more guessing and throwing everyday solutions to the mistakes in the mkts.

Pavlov taught me in Psych 101 to condition a dog. I took from the members of the CBOT and the MERC the words to condition myself.

Without a workable edge i was dog food.

In this profession, we can make tons of money, it is very hard to do because we must find our own way.......

As the thread was started, i misspoke, i was not looking for specifics, just generalities.
More...

the mortality of the floor trader is still quite high (~70% gone in 2 years???)- especially locals (in the red jacket).

edge in the pit is physical size and the ability to shout. this is why so many footballers tend to roll over the bespectacled phd on the floor.

anyway - back on topic - there is more than 1 type of 'edge'

those that disappear in time (tangibles)

and those that stay with us as part of our make up. the floor traders size is one example here. (these are perhaps more intangibles).

most look for the tangibles, and rigidly stick to them. they start making money, then dont. they still have the back tested results to prove to themselves they still have an 'edge'.

like our friend the local, i try to focus on the 2nd type of psychobabble edge inside my makeup. knowledge and understanding of how the markets really work, over some market prediction technique.

we (our account size) is surely just a reflection of how genuine the edge is.


i only got to page 3 before tying this dirge, so sorry if its been hit on before.


love,

freddy.

xxx
 
Holy Grails:

0) There is no holy grail.

1) Don't believe somebody else's propaganda.

2) Don't disbelieve somebody else's propaganda.

3) Don't believe your own propaganda.
 
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