In poker odds is easy to calculate. I am 100% believe in the math and bet only when odds or expected return are in my favor，thats in a low limit game of course. where in trading，although I know almost every formation in books，but I am not certain with the percentage behind it and I see setup everywhere.
I know nearly all the things a trader need to do to be sucessful trust me, read most of the trading bible, but a lot of time I break these rule，I think because I don't really believe in them and I don't know any real trading mentor to prove to me one must follow these rules，my stubornness to do it my way causes me to lose money trading，now I think I will try follow these rule to convince myself these rules would work.
He said he doesn't code. LOL! You just calmly skipped over all of the software out there, designed for non-coders to backtest their strategies, and told him to go build his own software: https://quantpedia.com/links-tools/
Ya, 80-90% of any cross section of humans, whether dumb, smart, genius, old, young, rocket scientist...... they lose in trading. So if trading and losing your ass isn't gambling - wtf is it???
Ha!! My apologies. Out of all the tools in the link, I'm only familiar with Quantconnect which is coding based too.
I use NinjaTrader. You can backtest with their end of day data for free. There are other platforms out there too.
Yeah, that’s right. It doesn’t matter if it is chess, poker, checkers or trading. All that matters is proper skills and knowledge to ace that game.
%% Its not gambling\ its called quitting or stupid risk/stupid plan. Some times with 20/20 hindsight i took stupid risk, but may main problem with daytrading was not even over paying on comissions which i did. My main problem was ''never day trade to much if your nickname = ''t turtle'' LOL Common sense eventually works in any business. In other words even as good as his company was + is/he still sold/took partial profits we would call it. Investor/trader Bill Gates/MSFT And strangely/he did much better with MSFT than health care...................................................................................................... Some think insider selling is bad/actually its bad if they never do legal insider selling/LOL I cut a loss on a trade last month/not gambling/its common sense.......
It's common knowledge professionals use the term 'bet' when describing a trade. What do you think that means?