Why do newbies lose?

[Overnight]

I can not believe there are ET members on this website who overall dream in life is not to trade +100ES contracts and be rich. Even 100 ES contracts is to small for me eventually. Just make no sense to me.

It is because you don't understand maths and most other people on ET do, and you have not seen into the depths of your own soul when facing an abyss coming at you in hyper-3D-realism.

That is what will happen when your first 100-lot ES entry order is executed and in the blink of an eye it moves a few ticks and you're now looking at $-5000 on the PnL screen. And it keeps ticking and it hits $-10,000.

Now you are frozen in a living purgatory unable to think, and you'll get a day like today where it just keeps going against you and 60 points later, you're staring at $-300,000.

Does it make sense to you now?

 

[SimpleMeLike]

It is because you don't understand maths and most other people on ET do, and you have not seen into the depths of your own soul when facing an abyss coming at you in hyper-3D-realism.

That is what will happen when your first 100-lot ES entry order is executed and in the blink of an eye it moves a few ticks and you're now looking at $-5000 on the PnL screen. And it keeps ticking and it hits $-10,000.

Now you are frozen in a living purgatory unable to think, and you'll get a day like today where it just keeps going against you and 60 points later, you're staring at $-300,000.

Does it make sense to you now?

Good Evening Overnight,

There is no fear or hesitation in the Mathematics field and becoming rich.

Don't be so scary, its your duty to get rich trading the futures market. That is why they exist. Don't belive all these trading theories lies on trading fear. We have to get to +100 ES contracts and fast as possible.

The only fear you should have is not becoming rich in trading. It should be your only goal in life and your 2nd goal should be hurrying up.

 

[SimpleMeLike]

When you are a big dog,I'm expecting a book on how you did it

You don't have to read it

Good Evening Taowave,

I will post to you and you will see.

 

[Sprout]

It is because you don't understand maths and most other people on ET do, and you have not seen into the depths of your own soul when facing an abyss coming at you in hyper-3D-realism.

That is what will happen when your first 100-lot ES entry order is executed and in the blink of an eye it moves a few ticks and you're now looking at $-5000 on the PnL screen. And it keeps ticking and it hits $-10,000.

Now you are frozen in a living purgatory unable to think, and you'll get a day like today where it just keeps going against you and 60 points later, you're staring at $-300,000.

Does it make sense to you now?

Yep, that’s some pain right there.

 

[Jzwu2017]

Guess SimpleMeLike hasn’t had a big loss in his/her trading. That’s both a bless and a curse.

Renaissance Technologies CEO said they put a huge effort on controlling risk. That tells you something about trading/investing.

https://www.elitetrader.com/et/thre...ys-investing-is-giant-problem-in-math.376289/

There’s a saying in the trading world: there are bold traders and old traders but no bold old traders.

 

[ironchef]

Guess SimpleMeLike hasn’t had a big loss in his/her trading. That’s both a bless and a curse.

Renaissance Technologies CEO said they put a huge effort on controlling risk. That tells you something about trading/investing.

https://www.elitetrader.com/et/thre...ys-investing-is-giant-problem-in-math.376289/

There’s a saying in the trading world: there are bold traders and old traders but no bold old traders.

This is what Renaissance said:

We don’t know any economics, don’t have any insights in the markets

In that regard, they and I and @SimpleMeLike are on an equal footing.

But their results and mine are like night and day.

 

[SunTrader]

SML trade 100 contracts riiiiiight haha come on already, stop advising him not to already.

 

[taowave]

You outperform the Medallion fund

This is what Renaissance said:



In that regard, they and I and @SimpleMeLike are on an equal footing.

But their results and mine are like night and day.

 

[ironchef]

You outperform the Medallion fund

In my dream and my paper day trades.

 

[Darc]

What's interesting about this is, you can be the most morally and ethically reprehensible person, but you use an automated greeting and be very polite and you can get away with even more. A true lesson in Social- psychology.