AttoCEl, if i am wrong & you're profitable trader, well, shit happens & i am sorry. But so far, because of the vague answers, it reminds me of,
Ive developed a highly profitable system, which has given me the ability to tell whether someone knows what they are doing or not. There are honest mentors giving away powerful applications for free on youtube. Chris lori is just one of about 10 examples. I understand your caution, i used to be the same way. Instead of doubting others, you should be a little more honest with yourself and admit you may be in need of some guidance.
Op is a complete layman and pretends to be an expert. What he said about ignoring risk is naive and ignorant. Also he can't talk about detail in trading because he knows nothing .
OP, your advise about risk management is quite the opposite of what a new trader should follow. I feel like I can give better advise than you, to be honest. What makes you to be able to guide people? Do you have any proof or records of that profitable system that you seem to have?
If SPX futures goes up 10 points right after 18:00 EST, what is the probability market will go up the next day? What are factors that affect your judgement on this ? If SPX futures goes up 10 points right after 9:30 EST, what is the probability market will go up for the rest of the day? What are factors that affect your judgement on this ? You are deemed a layman until you answer my questions and show you really know trading.And everyone is watching how you respond to my questions.
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I said many times by now, but no one seems to believe or understand it. Risk is of an event happening or not. It is not a gain or loss of a dollar or percentage amount. Though it took me a long time too.
That's a good question. I think people are attracted to dirt cheap margin requirements as an advantage. As a disadvantage there's more financial complexity involved trying to forecast price movement, especially if one has not weathered sufficient knowledge. Also their competition the Big Banks have access to vast sources of information that the average Forex trader simply will not be privy to. JMHO..but maybe if one learned how to trade volatility with a strategy when the market turns against their position it might help the equity curve in the long term. Most people fear volatility, and will rather take the loss instead of a strategy that rides the beast. It's definitely not easy, but rewarding when we do.