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Old Feb 19th, 2012, 05:16 PM   #31
ssrrkk
 
 
Join Date: Jun 2005
Posts: 440
If you limit to traders posting on ET, is it still 95% losers? Or are the stats slightly better if you are posting / reading here...
 
Old Feb 19th, 2012, 05:42 PM   #32
tenthousandmen
 
 
Join Date: Dec 2011
Location: Silicon Valley California, St. Petersberg Florida, Sydney Austrailia
Posts: 728
Quote:
Quote from Eight:

Linda Raschke points out how people are so devastated by losses that they quit trading for the day right when they should stay in the game... I'm sure that realizing it's a game that involves some losses and figuring out your win percent and w/l ratio is a step in the direction towards being able to stay in the game and be profitable.

There are 16 Myers' Briggs personality types, if just one of those was suited to trading, the odds of being a winner would be approx 6%.. but the personality types are not represented evenly, some occur only 1-2%.. I'm thinking that possibly only one or two personality types are at all capable of winning and many of the personality types aren't remotely interested at all... so we have a selection process going on that limits the players and handicaps chances of success... Add to that just how difficult it is to find a winning strategy for one's self or to navigate the world of gurus and I'm surprised that there are ANY winning traders at all... on top of that sometimes traders are huge successes until the market changes and they can't adapt..

The difficulties are enormous in intraday trading. The pace is crazy early on and many don't trade until an opening range has been established and many more don't trade until the first half hour ["Kiddie Hour"] has passed, then things slow down about the time that the Europeans stop trading the US markets.. and sometimes there is news pre-market and most of the days' range has been established pre-market.. adapting to all those time periods and variations of pace is in itself a major hurdle. More information is expressed by the market as the day progresses but learning what to do with all the information is another large hurdle...

I'm surprised that anybody can do it..
BTw, props to you for the miggs poll
 
Old Feb 19th, 2012, 06:03 PM   #33
mgabriel01
 
 
Join Date: Oct 2007
Posts: 977
Quote:
Quote from ssrrkk:

If you limit to traders posting on ET, is it still 95% losers? Or are the stats slightly better if you are posting / reading here...

I don't know that you ever get good data here
How do you know who's bulsitting you and who isn't?
 
Old Feb 19th, 2012, 09:20 PM   #34
ssrrkk
 
 
Join Date: Jun 2005
Posts: 440
Quote:
Quote from mgabriel01:

I don't know that you ever get good data here
How do you know who's bulsitting you and who isn't?
It could be that ETers are even worse -- e.g., the 5% are the professionals working at banks, hedge funds, and top prop firms, while the rest (i.e., retailers) are the 95%. Or it could be that actually only less than 1% of retailers make it.
 
Old Feb 19th, 2012, 10:32 PM   #35
tenthousandmen
 
 
Join Date: Dec 2011
Location: Silicon Valley California, St. Petersberg Florida, Sydney Austrailia
Posts: 728
Quote:
Quote from ssrrkk:

It could be that ETers are even worse -- e.g., the 5% are the professionals working at banks, hedge funds, and top prop firms, while the rest (i.e., retailers) are the 95%. Or it could be that actually only less than 1% of retailers make it.
Certainly 95+% are egotistical self labeled experts at the world and humanity
 
Old Feb 19th, 2012, 10:34 PM   #36
Redneck
 
 
Join Date: Dec 2008
Location: 32 80 N 96 76W aprox.
Posts: 3,002
Quote:
Quote from mgabriel01:

I don't know that you ever get good data here
How do you know who's bulsitting you and who isn't?


Here let me help ya figure it out


1.) Use some common sense and critical thinking
2.) Apply it you your trading
3.) It helps – use it
4.) It don’t help – ignore it and move on


Simple, but then so is trading

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

I also see there’s a thread on successful trading – let me hand feed you (you generically speaking of course) on that one too


==========================================
What successful traders have in common


Accepted and embraced personal – accountability…, and responsibility
Willing to do what ever it takes – for as long as it takes
Found a way of trading that matches their personality (possibly even modified their personality)
Trades within themselves
Ignores everyone’s opinion
Has learned to be comfortable with uncertainty…, and not knowing
Has learned to be comfortable with losing…, and being wrong
Knows there is no right… or wrong way to trade – there is only profitable… and non profitable
They’ve found (think built) a profitable one and stuck to it
=========================================

No two successful traders trade alike….

So like we all have – pick up bits and pieces and build your own way of trading that – wait for it…. wait for it… THAT MAKES YOU MONEY

And if any aspect of your way of trading doesn't make you money – then drop it… or drop it - and add an aspect that does….

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

Oh, and one other thing successful traders don’t do – sit around and bitch to each other why we’re not


What's that saying I use quite often... Oh yeah...

if it is to be - it is up to me

Well fuck me - who da thunk it

RN
 
 
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