Registered: Aug 2002
04-23-12 10:47 PM
Quote from guy990opl:
Now you are talking ! So they want to turn a small/er account into a big one and on top of that they want to predict the next market move up or down, not to mention that the ego always stands in the way. In other words their need to be "right" is often bigger then their need to make money. That's why the failure rate is so high.
I personally don't think of trading as predicting anything. I developed my own methodology based on math / probabilities / statistics and the trades are not based on technical analysis.
I KNOW that being able to DEFINE the RISK of the TRADE at ENTRY is an extremely valuable asset to the methodology. This is because ALL of my research shows that risking the same amount of capital per trade reduces drawdowns as well as smoothing out the PNL curve.