What kind of approach can make you INSANELY rich?

smallStops · Feb 16, 2017

vanzandt said:
He was JFK Jr. In the media's eyes at least... He was the closest thing America ever had to a "prince". He had the god complex groomed into him from a very young age, he could do no wrong.

He owned a high performance aircraft and one night with his wife and one other on board.....he flew into weather conditions that were beyond his skill level. He lost control and all 3 perished.

I referenced him to your post because he was rich...he dismissed "the poor mans knowledge" that is universal to aviation. One mistake will kill ya dead.
https://en.wikipedia.org/wiki/John_F._Kennedy_Jr.

I did well to ask. Because I assumed he died because it was part of the Kennedy's "curse", but I was not sure if JFK jr was also part of it.

ironchef · Feb 16, 2017

rajesheck said:
Becoming rich depends on our business skills rather than luck. And our skills depends on the quality of our intuition.

rajesheck, I know you are trying to inspire us but I am not so sure that is true in mine case.

The fact that I was born is luck. The fact that I am in the US instead of some poor third world country is luck. The fact that I don't need a day job anymore is luck. My trading success is luck - rather than my trading skill it is because we are in the middle of one of the strongest, raging bull markets in history. When the bull market ends I will be unlucky.

Come to think of it, I better take some money off the table just in case my luck runs out sooner rather than later. :finger:

Regards,

rajesheck · Feb 17, 2017

Frederick Foresight said:
Meditation has its place in reducing stress and related conditions that can be caused by stress. It can reverse minor issues and be an excellent preventative protocol. But meditation will not cure cancer once it takes hold. I can't believe I actually have to point this out.

Many alternative medicines claim that most of the health conditions, if not all, including cancer, are caused by mind.

As of now conventional medicine has identified a bunch of conditions as psychosomatic disorders which are caused by mind.

Science is maturing day by day. Let us wait and watch.

What science has conquered ?

There is infinite scope in science to explore and uncover.

What science has and will unleash is always a finite set.

At any given point in the past and in any imaginable far future, science would have conquered 0% (= Finite / Infinite * 100 %) of truth.

Mathematically speaking science knows nothing.

This very true human life purpose point of view. Science is directionless. It is a total chaos when comes to direction.

Ancient wisdom, on the other hand has direction, peace.

rajesheck · Feb 17, 2017

ironchef said:
rajesheck, I know you are trying to inspire us but I am not so sure that is true in mine case.

The fact that I was born is luck. The fact that I am in the US instead of some poor third world country is luck. The fact that I don't need a day job anymore is luck. My trading success is luck - rather than my trading skill it is because we are in the middle of one of the strongest, raging bull markets in history. When the bull market ends I will be unlucky.

Come to think of it, I better take some money off the table just in case my luck runs out sooner rather than later.

Regards,

Ironchef

Regarding day trading, if you are good in bullish market then it means that you are good in bearish market as well, all that you need is volatility not any particular direction, right?

Regards

ironchef · Feb 17, 2017

rajesheck said:
Ironchef

Regarding day trading, if you are good in bullish market then it means that you are good in bearish market as well, all that you need is volatility not any particular direction, right?

Regards

No, in a bullish market, a large number of random trades will result in profits because of the upward bias. Not so in a bearish market.

speedo · Feb 17, 2017

ironchef said:
No, in a bullish market, a large number of random trades will result in profits because of the upward bias. Not so in a bearish market.

I find it easier to make money in bear environments...cleaner and faster patterns. Bull markets will produce more long signals and bear markets will produce more short signals. There shouldn't be any bias in the trader.

rajesheck · Feb 17, 2017

Let us debate.

https://www.elitetrader.com/et/thre...ay-trading-patterns-unique-or-similar.306934/

ironchef · Feb 17, 2017

speedo said:
I find it easier to make money in bear environments...cleaner and faster patterns. Bull markets will produce more long signals and bear markets will produce more short signals. There shouldn't be any bias in the trader.

I don't short the market or short the underlying that is why my statement. The reason is I don't know when the bear market starts or stops but in general over a long time the trend is up.

speedo · Feb 17, 2017

ironchef said:
I don't short the market or short the underlying that is why my statement. The reason is I don't know when the bear market starts or stops but in general over a long time the trend is up.

A professional trader should be as comfortable going short as going long. An investor can have a different mindset.

rajesheck · Feb 17, 2017

ironchef said:
I don't short the market or short the underlying that is why my statement. The reason is I don't know when the bear market starts or stops but in general over a long time the trend is up.

Please post both your bearish and bullish charts in the poll thread. We will try to understand where the difficulty is.