Why do 5% of Traders Win?

[mgabriel01]

Quote from oldtime:

your English is getting pretty good. I should learn a foriegn language. How do you say "fuck" in German. At least that would be a start for me.

It's 'uck-fay' isn't it?

 

[beachhouse]

Quote from oldtime:

well, I am not. I will never win the lottery because the powerball ticket just doubled from $1 to $2 and that is just too much to pay to win a measely 35 million, but if I had won it, I would set up a foundation to study luck. Luck is the name we give to math we don't understand.

The dream of winning powerball jackpot is sweet. I have it too.

Suggest you learn some Italian words after winning the jackpot, like Ferrari, Lambergini, Armani, Gucci......

 

[mgabriel01]

Quote from oldtime:

ok, so that's rule 2. Sit on your hands and wait for an opportunity to pounce

Automation helps

 

[mgabriel01]

Quote from deaddog:

If that’s your plan go for it. You might want to control your risk, and add a money management component to your plan. Let us know how thing work out.

Might want to try it on the last 12 months of actual market data too....

 

[mgabriel01]

Quote from oldtime:

the top aint so bad, but it sure as shit gets lonely at the bottom

and cold!

 

[oldtime]

Quote from mgabriel01:

It's 'uck-fay' isn't it?

icksnay iksnay, erry jays in the uck tray

 

[deaddog]

Quote from Wide Tailz:


In other words "fade human nature"......... ?

When you figure out Fear and Greed you'll have the Edge you need to trade successfully.

 

[deaddog]

Quote from mgabriel01:

Might want to try it on the last 12 months of actual market data too....

In reality that plan is a little too simple but a well thought out plan, with entry and exit criteria, risk control and money management strategies, is what separates the 5% from the 95%.

Oldtime makes light of it but I would guess that 95% of the 5% have a trading plan that they consistently follow.

 

[krittika]

Becuase the 5% they win a lot and the other 95% they lose a little.

 

[mgabriel01]

Quote from deaddog:

In reality that plan is a little too simple but a well thought out plan, with entry and exit criteria, risk control and money management strategies, is what separates the 5% from the 95%.

Oldtime makes light of it but I would guess that 95% of the 5% have a trading plan that they consistently follow.

automation helps