Much agree! Adequate amount of capital is necessary to get through the "LEARNING CURVE"!
Why do more than 90% of traders lose?
- Thread starter emg
- Start date
The truth is that we're talking about 10K hours screen time.
But I'd say that among these 10K, spend 50% of them on Excel.
Then 40% on YouPorn, 5% on youtube, and 5% trading your setups.
New traders just don't know what to do. So they behave like a crowd.
Meaning that they have no plan. First one needs to suffer.
Then realize that one needs a plan to survive.
Because all that money drive us crazy.
Newbie lose then lose lot harder,
While trying to make it back.
A plan is not made on the battlefield,
It's made at the very back shop.
Cold, crunching numbers,
Logically & Statistically.
It's good to watch the tape,
But you need a bigger picture.
Otherwise the market will beat you.
Newbie jump in with book in their hands.
But they don't know that they are told craps.
They take it for bibles or textbooks,
They never looked for refutations.
They say Okay. And breath it.
One need to test. test. test.
Test ideas, the market.
Not answer. But test.
None have the answer.
But one can ask the good questions,
And understand what the tape is yelling.
And know if he can trust it or not.
Because the tape is king,
But not your friend.
But I'd say that among these 10K, spend 50% of them on Excel.
Then 40% on YouPorn, 5% on youtube, and 5% trading your setups.
New traders just don't know what to do. So they behave like a crowd.
Meaning that they have no plan. First one needs to suffer.
Then realize that one needs a plan to survive.
Because all that money drive us crazy.
Newbie lose then lose lot harder,
While trying to make it back.
A plan is not made on the battlefield,
It's made at the very back shop.
Cold, crunching numbers,
Logically & Statistically.
It's good to watch the tape,
But you need a bigger picture.
Otherwise the market will beat you.
Newbie jump in with book in their hands.
But they don't know that they are told craps.
They take it for bibles or textbooks,
They never looked for refutations.
They say Okay. And breath it.
One need to test. test. test.
Test ideas, the market.
Not answer. But test.
None have the answer.
But one can ask the good questions,
And understand what the tape is yelling.
And know if he can trust it or not.
Because the tape is king,
But not your friend.
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I agree. You need some kind of framework to watch the tape within
Actually, a framework can give you better odds.
By framework I mean ... Conditionals that shape the distribution.
If you have great conditionals then you can trade less recklessly.
But always listen to the tape to know what she thinks about that.
For exemple it's good to fade the next day after three down.
Statistically, on the ES. But the Market may keep bearish.
Or the reaction of the market after a bullish news ...
Well ... I think a framework can add consistency.
But framework is a really loose term.
It can be technically speaking...
But we need conditionals.
IMHO
That's it.
A framework tells you,
If it's wiser to buy or to sell.
Dry up liquidity? All of the retail traders combined probably are worth 30 seconds of SPY Bids
nearly all retail traders lose their money eventually. More importantly, the big firms are market making and taking all of the funds in their back pocket (b-book).
apparently theres this trader in melbourne who has an algorithm which accesses all the big brokers b-book databases and takes the reverse position. I am pretty hesitant in believing it though. They're called Jackson capital http://www.jacksoncapital.com.au/
If true, it seems the little guy is pegging one back!
apparently theres this trader in melbourne who has an algorithm which accesses all the big brokers b-book databases and takes the reverse position. I am pretty hesitant in believing it though. They're called Jackson capital http://www.jacksoncapital.com.au/
If true, it seems the little guy is pegging one back!
they said they've traded for years (some people say 2years or more) and I just thought after such time they might improve and moving forward, they know where the chart goes?
After years of trading, might everyone come to this level?
After years of experience, yes, most people do improve their trading knowledge...but not necessarily their trading account/profits. It takes more than what direction the chart goes...understanding what drives price action and when conditions change in the market will evade the majority of traders...even after years of effort. Adequate capital is necessary for this learning curve and not everyone will be prepared for this...if they do trade for years (like those you speak of), the LAW OF NUMBERS will win out as the majority of traders won't win over a long period of time in a complex competition like the financial markets. If your definition of moving forward is breaking even some years and modest profits other years...limited losing years...I believe this could be doable with a simple system with a good R:R. As far as making a living or attaining trader "elite" status...it will require a much deeper understanding! If some of the traders you speak of (with monthly income), are option sellers...that's a whole different discussion. GOOD LUCK TO YOU!!!!!!!
we know nothing about what other people make or do not make...
but i have a feeling
that the numbers of consistent traders approaching zero, and definitely not 10%.10% is something invented by the industry or wannabes, in order to have something tangible to hold-on to....
reality imho is much much grimmer
imho most of so-called successful traders just masturbate on market, while sitting either on pension, either on wife's neck, either on disability, or on some other sources of income which hold them afloat
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