can I just go home now? I don't have what it takes to go big I've already been broke once, and I never want to go back there again Soros trades his real money like I trade my paper account must be nice
Reversion to the mean ? We've had this conversation before. Huh ? from my 8-12-2012 post, (after the bad link I installed there).......... "My only change now from 2009 is to stay in trades longer and put on layers when trades go against me (after first researching my charts again). Second and third layers are marvelous." http://www.elitetrader.com/vb/showthread.php?s=&postid=3596885#post3596885
Pros and firms use special algos to size trades that seek for liquidity and do partial filss so that the effect on prices is minimized. Their objectives are different, the subject is too complicated and the math too complex for most people without a Ph.D. But you should at least know that.
I add to winners I add to losers funny, everybody says adding to losers is the road to ruin, yet they never say adding to winners is conversely an excellent strategy I've been doing this now since Oct 2011, only 3 losing months, and one of those was when I abandoned my strategy it's all gambling the trick is to not let your largest loser be your largest position I trade 4 forex positions at all times thanks for the well wishes
It's not all gambling. Gambling is adding to losers. Adding to winners can make sense if you don't use optimal trade sizing. If you use optimal trade sizing, it doesn't make sense to add to winners.
I never made any claims about my personal income or wealth. I am merely saying that if I wasn't able find trades with edge, then I would make no trades. Thus, if I am not trading, I lack the potential to make money. How else would I know if a trade is a good/bad bet, if I could not quantify it somehow?
SC misreads a lot of stuff and he avoids answering Q's. But who cares? I hope he looks up merely someday. Trading nd gambling are different. You make money when you can make money.