Brooks biggest mistake as a teacher

yes since 2007 you do the math...i am lazy bugger.... i only work at trading

i have always believed markets are rational.... NOT RANDOM

 

that would not surprise me...

i am not complacent now

i used to be that 10 years earlier

 

Studies have shown the Markets aren't random and the E.M.H. is false.

 

everyone knows Chinese language looks random and is not ...but it takes a min 05 to 20 years to be professionally competent and earn money with that skill as a interpret or or translator.

trading is no different....any body can be good amateur but to be professional takes about 100 times the skill that an amateur has.

 

EMH ?

 

Brooks talks about channels broadening.....

it took me 15 years to understand what he meant....

 

Hello MikeRiley

In my opinion you asked the crucial question. I am often asked what made
THE difference in my ability to make money, and I said that it was mental
and specifically 1) taking responsibility for my decision(s) and 2) learning to
manage my emotional responses once I was filled

One of the things Dr Brooks says (but does not publish) is that he runs his
decision making using a binary tree (if this/then that). I have been doing
that for years and it works (for me). I am able to characterize the price action
accurately, and then decide when and how to enter, and what to do to manage
my position.

Today was a good example

 

Efficient Market Hypothesis.

 

Lazy and successful never go together well in any pursuit.

 

Hello mikeriley,

That is easy answer: Making money.