Why Is The Obvious Not So Obvious?

Ed48 said:
I've been working my way through the thread and there are a lot of references to 90% and 10%.

Is this just a coincidence?
More...

Buying Low and Selling High can be less risky at certain times.

Selling High and Buying Lower can be less risky at certain times.

Buying High and Selling Higher can be less risky at certain times.

Selling Low and Buying Lower can be less risky at certain times.

There is an obvious common denominator in all of the above.

J_S
 
BLSH and SHBL is subjective
... buy low(s) sell high(s) over any particular time period is not subjective at all
then the question becomes, over what time period ?

whether you choose 1 day or a year, there is no uncertainty as to where the lowest or highest point is in any given time period

nice thread in the beginning, too bad it didn't continue
 
Most look to buy when the price falls as they think that the price has to go back up, and then they take way too long to get out if wrong!

Today had a lot of people kicking themselves in the ass and saying "what kind of a fool am I"!!!!
 
Remember this - it appears there is a slight anomaly that could offer a very good opportunity for those who are willing to take on some risk at the moment.

Screen Shot 08-21-15 at 11.03 PM.PNG
 
J_Smith said:
There are a lot of pages there ED, maybe you would like to sum up what you think to help others not waste their time.

J_S
More...

I'm still trying to figure it out myself, and I wouldn't want to lead anyone down the wrong path.

I do have a question though.

The majority of traders are unprofitable; only a small minority are consistently profitable.

I bet no two traders trade in the same way but is there something that all the unprofitable ones have in common? Ditto the profitable ones.

It can't just be money management because good MM on its own does not produce profitability.

I wonder what it is that differentiates the successful traders from the unsuccessful ones?
 
Following on from my previous post, I have a friend who started full time trading in 2008. Initially he lost quite a bit of money due to poor MM. Since then he's got control over that but he still isn't consistently profitable. He doesn't have big losses any more but he's barely doing better than breaking even. Although he now has a lot of experience under his belt, he still isn't making money. I admire his perseverance but clearly there is something missing.

Obviously there is something he is doing (or not doing) which is different to what profitable traders do. The question is what?
 
Last edited:
Ed48 said:
I wonder what it is that differentiates the successful traders from the unsuccessful ones?
More...

Both lose - one does it better

Both make money - one holds onto it

Both trade - one does it with deliberation..., patience..., via a process and routine

One has a ego - other does not

One concerns their self with right / wrong..., good / bad..., winning / losing - the other couldn't care less

One appreciates uncertainty - the other grasps to know / control

One knows the actual way of trading matters not - the other just wants the holy fuckin grail handed to em

One learns and understands the mkt - the other clueless..., and doesn't wish to be bothered doing the necessary work

One appreciates the absolute honesty - in the mkt..., from their PnL - the other thinks the mkt out to get them / their PnL - who the hell knows as they treat it like a game

One knows trading successfully is mostly internal - the other..., let's add another indicator - that should do it

One knows and mkt is fluid..., and adapts accordingly - the other..., mkt is random / nothing works forever / nothing predicts / mkt cannot be read

One takes personal accountability - the other..., every one's (including the mkt's) fault..., but my own


And my personal favorite

One likens trading to gambling - to wit I say; bull shit it is

================

Personally..., I ain't got a clue what the differences might be

But then..., I'm just a simple minded dumbass redneck

RN
 
Thanks RN, as always I really enjoy your posts!

If only I could get myself to do what needs to be done (on a regular basis) I would be a rich man. Well, it is a long road (at least for me) and while I think I now know something about the Path, I am just beginning to learn how to walk it...
 
You must log in or register to reply here.
Back
Top