Any long term strugglers out there?

Discussion in 'Trading' started by Eddiemorra, Aug 16, 2014.

  1. londonkid

    londonkid

    Playing 1000 hands of blackjack after memorising basic strategy should be compulsory for new traders. If we are talking small edges then your comment about 300 hands not being sufficient holds. If you have a large edge though this will become evident over a smaller sample.
     
    #231     Sep 21, 2015
  2. Visaria

    Visaria

    Say eddie does 300 trades and makes a lotta money...should we then conclude he has a large edge?
     
    #232     Sep 21, 2015
  3. londonkid

    londonkid

    No as he is a newbie. I am talking about someone who knows what they are doing with a large edge.
     
    #233     Sep 21, 2015
  4. Visaria

    Visaria

    If i asked the question as to how you would know if you had an edge or not, what would you say? Could you define it? How specific can you be? Genuinely interested, since this is a question i often ponder.
     
    #234     Sep 21, 2015
  5. candles

    candles

    Yes. Like a bank trader who has access to specialised orderflow information unavailable to retail traders for example.
     
    #235     Sep 21, 2015
  6. Would you say without such info and just using charts, we're all essentially just flipping coins, and don't have an actual edge?
     
    #236     Sep 21, 2015
    marketsurfer likes this.
  7. Visaria

    Visaria

    nothing wrong with coin flip trades as long as the payoff is better than 1:1
     
    #237     Sep 21, 2015
    k p likes this.
  8. Or a retail trader who understands how order flow works and can piece together likely order flow in the book via reverse engineering TA, understanding the macro environment, understanding important fundamentals, and understanding how the weak hands lose. It's really not that hard.

    All in all, if you've been trading 3-4 years full time and still consider yourself struggling, you should really accept defeat and find a new career.
     
    #238     Sep 21, 2015
  9. candles

    candles

    You need an edge. Price charts don't cut the mustard.
     
    #239     Sep 21, 2015
  10. londonkid

    londonkid

    oh my! dont dismiss charts but certainly dismiss 97%+ of what other people say about charts.
     
    #240     Sep 21, 2015