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Old Feb 22nd, 2012, 06:47 AM   #13
intradaybill
 
 
Join Date: Feb 2008
Posts: 2,962
Quote:
Quote from oilfxpro:

If I was to give you a money management strategy which will make all your losing systems into profitable systems.
This is a fallacious statement. "System" already includes money management. There is no such a thing as a "system" without money management.

Money management is a set of rules to prevent ruin and maybe to inrease returns. Money management without an edge of some kind is useless.

I think you are wasting your time with trading. So do the others here who believe 1% win, etc. Just do your homework and stop worrying about the "others". Exchanges were setup so you never know who the others are.
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Old Feb 26th, 2012, 03:25 AM   #14
BCE
 
 
Join Date: Sep 2002
Location: Omnipresent :)
Posts: 4,035
Quote:
Quote from Zr1Trader:

lol

Trading can be used as a means to do more good in your life than than with almost any other profession . Assuming success of course.

PTJ is an inspiration to me in respect to philanthropy. Bill Gates also.

The purpose of trading for me is to get as rich as I can to help more people than I ever could with any other profession. Of course I want to live comfortably and enjoy the fruits of my work also but getting rich to amass material wealth doesn't really seem fulfilling compared to philanthropy and doing good in the world.

You say MM is all you need. Lets here it. I will leave every last cent of my fortune to charities through out the world.

And then I will come and work for you for $7500 dollars.
Just rooting around @ midnight before heading off to bed and saw your post here. I could have written your thoughts about philanthropy myself. We have the same focus. Nice to see this. This is what I'm up to also in my own unique way maybe.

And along with this I'm interested in using my other insights and abilities to best choose how and where to direct this to do the most good. And to direct it toward things that I know the most about and feel are the most important. It's not just the amount of philanthropic capital that's important, but having the vision and insight to use it most effectively. Bill Gates and Warren Buffett have the most philanthropic capital I'm guessing, but someone like Bill Clinton, who they work with, knows how to effectively connect people through the Clinton Global Initiative.

http://www.clintonglobalinitiative.org/

http://en.wikipedia.org/wiki/Warren_...t#Philanthropy

And of course just creating free time to do the actual work of philanthropy and doing good is important in itself.

When I'm talking to people to explain some of what I'm up to with my involvement with the markets, I bring up Robin Hood. This is of course where Paul Tudor Jones' foundation derives its name. http://en.wikipedia.org/wiki/Paul_Tu...s#Philanthropy

I need to get to bed. Didn't get enough sleep this week. We'll talk more.
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Old Feb 26th, 2012, 07:57 AM   #15
oldtime
 
 
Join Date: Jun 2011
Posts: 7,479
Quote:
Quote from oilfxpro:

I want to hear

I will take my laptop to Africa and trade from there and help , children dying of starvation to survive and live.

Otherwise none of you are worthy of the gift of god.
hey man, where are you going in Africa? I have family in Mali, we can set you up with a place to live.
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Old Feb 26th, 2012, 08:06 AM   #16
oldtime
 
 
Join Date: Jun 2011
Posts: 7,479
otherwise, 90% of what I do is just MM, 10% requires reading the market

for instance, betting on the trend or the chop or a mix

some systems have an RR of 1:infinity (trend) (biggest winner)
my scalper is 4:1 (and the stop is often not honored)
and the best chopper is simply 1:1

it's all money management, entries are always random, some enter at the high, some buy after a big move up, some buy after a big move down etc.
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Old Feb 26th, 2012, 01:42 PM   #17
oilfxpro
 
 
Join Date: Oct 2007
Location: london
Posts: 1,593
Quote:
Quote from oldtime:

otherwise, 90% of what I do is just MM, 10% requires reading the market

for instance, betting on the trend or the chop or a mix

some systems have an RR of 1:infinity (trend) (biggest winner)
my scalper is 4:1 (and the stop is often not honored)
and the best chopper is simply 1:1

it's all money management, entries are always random, some enter at the high, some buy after a big move up, some buy after a big move down etc.
What trend direction do casinos take?

What is money management of a casino ?How much does the casino risk per bet?2% ,5 % or what?
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Old Feb 26th, 2012, 01:49 PM   #18
oldtime
 
 
Join Date: Jun 2011
Posts: 7,479
Quote:
Quote from oilfxpro:

What trend direction do casinos take?

What is money money management of a casino ?How much does the casino risk per bet?2% ,5 % or what?
I'm not the house, I already have the spread and commissions against me. My odds at the market are about the same or worse than my odds against me at the crap table. The difference is the trend or the chop. Plus I have the option of betting who will win and who will lose, and how much they will bet. Most of the time the market chops, and I can bet just like any crap shooter and eventually lose over time, but when it does finally trend, it can trend longer than you can roll sevens and avoid them to make your point.
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