Why Is The Obvious Not So Obvious?

[The Obvious]

If you accept that trading is gambling, then this might make it easier to figure out what NY was driving at.

What every gambler has to realise, is that all the risk management and position sizing techniques in the world are of no use what so ever, unless the gambler is aware of the obvious pre-requisite to gambling in any market.

 

[J_Smith]

If you accept that trading is gambling, then this might make it easier to figure out what NY was driving at.

What every gambler has to realise, is that all the risk management and position sizing techniques in the world are of no use what so ever, unless the gambler is aware of the obvious pre-requisite to gambling in any market.

That is more than 5 words, and is of course correct, but not what I would consider to be the obvious in relation to this thread.

J_S

 

[The Obvious]

That is more than 5 words, and is of course correct, but not what I would consider to be the obvious in relation to this thread.

J_S

I don't know what 5 words you are thinking of.

To me, the obvious pre-requisite, in a game of chance, is to find a way of putting the odds in your favour. When the odds favour price going up, you go long. Vice versa for short.

Some claim you can make money with random entry, as long you cut losses short and let winners run, but I can't see this making GOOD money.

 

[J_Smith]

I don't know what 5 words you are thinking of.

To me, the obvious pre-requisite, in a game of chance, is to find a way of putting the odds in your favour. When the odds favour price going up, you go long. Vice versa for short.

Some claim you can make money with random entry, as long you cut losses short and let winners run, but I can't see this making GOOD money.

Valid points OS, but you still have to work out the best way to put the odds in your favour.

Side note, again, and I see a young black swan has passed over, but am I worried, not one little bit, which is how it should be.

If you do not remove fear from your trading, by whatever means you so choose, then you will make heaps of mistakes, and mistakes cost you money trading.

In fact, I have gone one week out, same thing as I done the last time, and I made money then, and might still make it now, but the main thing, above all else, is I know exactly how much I can lose, no wishing or hoping this or that doesn't happen.

What ever happens, happens, and as long as I keep trading, I know I will make money, so long as I don't overtrade and start giving back more than I make.

J_S

 

[Pelt]

...What ever happens, happens, and as long as I keep trading, I know I will make money, so long as I don't overtrade and start giving back more than I make.

J_S

As I have mentioned before and is a lesson I am still trying to learn, it's that 2nd bit underlined that is the real bitch ain't it

 

[J_Smith]

As I have mentioned before and is a lesson I am still trying to learn, it's that 2nd bit underlined that is the real bitch ain't it

Yes, and the answer is just before the second bit, which is what you must underline.

You must not feel fear, if you do you know something is wrong, but you must also not allow greed take over, for, if you do, you definitely will have something wrong to deal with, and thus introduce fear, and the cycle will continue.

Cut the rope, by whatever means required, but until it is a clean cut, you will not see any real progress, and might as well spend your money on drink!

J_S

 

[The Obvious]

Valid points OS, but you still have to work out the best way to put the odds in your favour.

Indeed.

Of course, your P&L will soon show whether you're any good at gauging odds.

 

[J_Smith]

I don't know how this idiot got my email again, but as he has reminded me, I will try and warn some who are stupid enough to part with their money.

Levin is a dim wit, and the likes of him and Calhoun, should be strung up by the balls, and left hang there till they go blue in the face.

Make sure you go to the end to read the complaints. One idiot replied backing them up, and wait for it, even though he is not trading with them, he thinks they are good. I think he is related to that idiot profitloser who just posted

http://www.ripoffreport.com/r/Tradi...-schedule-non-responsive-customer-supp-695008

J_S

 

[dartmus]

but you must also not allow greed take over

You're mistaking greed for irrational exuberance. Nothing wrong with healthy greed.

 

[J_Smith]

You're mistaking greed for irrational exuberance. Nothing wrong with healthy greed.

You are entitled to your opinion, like everyone else, but maybe you are mistaking healthy greed for acting on opportunity when it is shoved in your face, which is totally different!

J_S