anti fragility: it means that something does not merely withstand a shock but actually improves because of it. He was being facetious not literal dude...
I apologize for my rude post. "Antifragile" is a book that was mentioned earlier in this thread which lead me here. Just in case you thought I had singled you out to make my one post a year. I was referring to Baron's comment when I said "If I had a dollar..." I've gone through this. My way of saying I feel for you. Luckily I was never smart enough to know when to give up. Crawling back in my hole now, bye...
F' it. Let me see if I can shine a light on some ideas for potential newbs starting out since I'm too idiotic to follow a system. Maybe I'll even help 1 trader along the way to make up for my foresaking of those who tried to help me. Opening Price Principle: 70% of the time (on any timeframe, but let's say daily bars) the opening price is within 20% of the High or Low for the day. This is actually a book too. Buy or sell opening price of bar, risk 1/4 of prior (or average) bar's range to make 3/4 of bar. One Timeframing: All timeframes line up. From the 1 minute bar to the daily/weekly/monthly bar. Every bar is going in the same direction. You get your 'vertical' moves in the market. So if the market is going higher, all these timeframes are above their prior bar highs and taking out highs right on down the the shortest duration timeframe. Very easy to stay in a postion until a 1 minute bar breaks below 2 previous lows. Feel free to PM me with questions or if these make sense to you I'd be happy to share more simple concepts of trading without predicting.
If you are consistently losing money in the market you are just as good as those consistently making money in the market. The only thing you need to do is reverse your orders from buy to sell and vice versa.
I can't recall what product you were trading. ES is a difficult scalp in a 14 VIX (11 ATM vola) at a 3bp vig. It's not a scalping tool. Scalpers need haircut and a penny mkt in a liquid single name. Scalping 1M in anything is a PSA on what not to do with all the MR algos out there. You're looking for an outside bar to short when the algo is setting up to take an MR-long. It's noise. If anything you should be in MR at that duration.
Very difficult? It's a joke and it won't be getting any better unless we "double dip" but i didn't have the patience to stay out of it or the fortitude to sit on my fat greedy hands and wait...
That absolutely does not work. Back on June 26th, 1a2b3cppp posted an absolutely brilliant description of the path of the aspiring trader: http://www.elitetrader.com/vb/showthread.php?s=&postid=3560117&highlight=losing#post3560117 I believe I experienced everything on that path except zamene's suggestion. When I got to this part of 1a2b3c's post, I couldn't stop laughing: "Somewhere along the line you will get the genius idea that all you have to do to make money is take a losing system and reverse the buy and sell signals. You'll have dollar signs in your eyes. And then you will test it and realize that the opposite of a losing system is quite often still a losing system. This will cause you much internal struggle as it will make no sense." It was during my dark night of the soul in trading that I seriously considered placing limit orders to initiate trades at the price where I intended to place disaster stops on any trade I was contemplating. That was the end of the beginning for me; I finally had that "framework in your mind for how to begin designing a system that may be profitable".
your words are so true. That happened to me in 1957. As I wait for my first setup (It is perfect), I keep adding capital to my account.
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