I always try to read between the lines,you have an eye for nuance. loved your blackjack story. found a niche & exploited it. very enjoyable reading, thanks!@
You should overcome Sattva.Sattva is still material.Suddha-Satva.Sattvam visuddham vasudeva-sabditam.
OP, Learn how to read a chart from right to left than you'll realize how silly this topic is. The right information could turn any trader profitable instantly. Oh, and yes I learned it all from charts... FS Edit: Can't prove anything is true in science. Think about all the disproved theories countless scientists spent their lives working on
I agree and disagree with the first post haven't read any of the others. Systems generally only cover entries, but they can help get you started on a trade, it's about managing the trade one open and accepting all openings are pretty much a best guess, you have to accept the risk then it's what you do that is important
You been trading how long? It takes years of very long hours to study all the possible fluke price patterns then spend years continually redefining what is important to your personality so you can achieve what you can accept. I have cetainly given ET many parts of my long term method in posts, but areas that are near and dear could work against my positions of getting best prices. So you saying I should sell my extensive back tested method for a few lousy thousand bucks? I wouldn't even sell it for ten million, it is my break and butter, just like other methods for day trading I have developed, and many other good traders have designed methods they make a living and wouldn't seel theirs either. Trading methods are alive just like the designer is alive, they change as he educates himself. finds nuances they have just discovered and as they change in age, often times less becomes more. When you young and account not large, you can take wild chances of trading over 50% of your account on margin, but as I get older, using 10% of my account is large enough. Years of making huge percentages are over, risk of ruin to high, I rather miss opportunities when patterns don't line up perfectly. There is randomness in markets, called chop, but once there is less volume available on bid or ask side, market moves in that direction.
My system ALWAYS makes money. But I never know how long it will take. If I make 1% in a day, well, that makes me look pretty good, doesn't it? If it takes 2 months to make 1%, well, that's really nothing to write home about is it? If I am in the depths of drawdown on Dec 31, I may even have a negative return for the year. But eventually it makes money. The system is pretty simple 1. Get a good fill 2. Cut your losses short 3. Add to losers when appropriate 4. Add to winners when appropriate 5. Let your profits ride 6. When you have made money get flat
If you ALWAYS win then your not doing no.2, infact your likely martingaling on some level, you just need a big enough move to get you to a margin call and there blows the ALWAYS!! Can't make a living off that kinda uncertainy so no use for me. In 2 months, I've had 1 slight down day, 3 pips and 1 BE day and loads of no trade day
Starting my reduction of risk phase myself currently, account / trades hit a certain size, this is the limiting factor that stops up becoming millionaires sadly. Chop isn't random, far from random I can trade chop damn near perfectly, you just don't understand it yet!