Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
I quit trading quite a long time ago. The only thing that would persuade me to start again is if I knew of a reliable method of making money over time.
I'm not convinced by the argument that, if you just keep plugging away at it for long enough, you'll eventually crack it. I know several guys who've been doing this for years, and none have really made a success of it. Actually, one guy is now making a bit of money from it... by teaching and coaching other traders over the web! You should see his website; it certainly sells the dream.
So, the pre-requisite for me would be finding a profitable method before starting any actual trading. That's why I've been following this thread, in the hope of a lightbulb moment. I'd rather waste a bit of time thinking about it than waste time and money on "trial and error" gambling.
Assuming you did find a profitable method - knowing it and successfully trading it would be different. So, there's definitely something to be said about experience. And the only way to gain experience is by doing.
For example, let's say your profitable method tells you to buy a dip or sell a pop and you get your entry signal/level. However, in real time with the market jumping up and down and risking $$$ on your entry - it may not be easy to actually trade it and hold for your full exit. The market may look like it's crashing or like it's gonna rally to the moon.
I do agree with that you're saying, though. But I think gaining the necessary experience (screentime) is key. And there's only one way to get that.
I may very well be wrong, so just my humble opinion from my own experience.
if this is so..then what can be so Obvious that "nearly all" people who try..can not make any real use of modern day technology !!!
DBCF
I dunno what the obvious can be, but I'm on day 3 of a hunger strike until I figure it out
But, are you hinting at the idea of the standardization of the platforms, that show all the users, all the same things... in the way that education teaches all the people, all the same things?
"DBCF".... perhaps a hangman to help figure it out?
MP
The OP said something similar; there's a difference between knowing the path and walking the path.
Unfortunately, I don't know the path and I've no desire to go on any more random walks.
the only reason is that on the phone you are limited to what you can see..so..you just keep selecting the higher timeframe until you get a good picture
one thing is for sure..if you can't do it with paper money then you sure as hell won't do it with real money..
the paper money must be done as if real money..another reason to use the MES..
you are of course correct..a valid approach is required..but..you could show someone a valid approach and they would still fu*k it up..as..the old religious way of thinking just creeps back in..
this is what my friend meant by..
"you have to lose big 3 times before it really sinks in"
i don't think there is any other way.. unless someone is so clever they can bypass all the "shite" that one has to experience before the "light bulb" finally lights up nice and bright
If only I'd read this when I started out.
https://jesse-livermore.com/trading-lessons-suckers.html
I thought I knew something but it turns out I was a semi-sucker.
It might also have stopped me becoming a super-sucker before I quit.
https://jesse-livermore.com/trading-lessons-suckers.html
I thought I knew something but it turns out I was a semi-sucker.
It might also have stopped me becoming a super-sucker before I quit.
Unfortunately, I don't know the path and I've no desire to go on any more random walks.
Succeeding as an independent retail trader without a mentor definitely is an entrepreneurial pursuit with no guarantees at the end of the day (decade).
Let's just say that if I knew how much work it would take just to get where I'm right now I might have done something else instead.