So you took Logic, scored 99% and quote statistics, correct? Interesting considering all logic professors I've met with, taught with and conversed with will soap box the vast differences between the two. They ALL will tell you that statistics flurish in random variable environments but statistics lose value in constant dynamic environments. Change your charting from random to dynamic and then come back and try to prove to me that the charts don't amazingly become methodical. Don't worry, I won't hold my breath.
they want to discover it. after many tries, they find they can not get rich quick after many tries, they find they can not quit their jobs and go day trading after manay tries, they find the market is full of betrals, teasing, tricking and manipulations, you never know why it stops its drop at some magic number and starts to bounce hard, or you never know why it stops its nice rally at some seemingly msterious number after many tries, they find the market is unpredictable, not like textbooks'describations, high higher low higher uptrend move, or low lower high lower...there are lots of msterious move after many tries, they find an very exciting news may create an exodus of nice rally, they just can not figure out, the news is so good why the market is out after many tries, they find some market rallies without any stop, day in day out, doubled, tripled , even 10 folds, even 100 folds, and it is still climbing after many tries, they find some market drops without any rest, day in and day out, even 99.9% value is lost, it is still edging down, they never know ........ there is no ending for the sake of discovery
The VP of raytheon is about as relevant as the pope when it comes to markets. i don;t get the point. i betcha you cant put me in touch with one REAL money manager who uses your methods succesfully for any length of time. thanks, surf thanks, surf
this makes no sense based on your other claims of perfect order, computers dont have emotions, what is it? surf
The key is to eliminate psychology all together. Hard to do but can be done. The edge is that you have to trade emotion free, and eliminate the psychological effect from your entry/exit decisions. The problem with 98% of the losing traders by far, is overtrading (trading too large relative to their equity by betting too big, averaging down, revenge trading, etc.), and letting emotions taking over, eroding any positive expectancy your method may have. Two ways to accomplish this: If you have a large capital, trade small and win consistently. This is an easy way and emotion will never be in the picture. Or If you have a small capital and try to make a living, trade according to POPâs rules, and you never have large positions on when you are wrong. This is not so easy since for day trading, range is small and action is quick and it is hard to add to good position, and you will have many small losses before you hit a big one. These are the most useful two books for me on trading (They are all FREE), and every time when I have draw down, I violate the rules in these two books: Speculation as a Fine Art by Dickson Watts: http://stockvision.org/books/Dickson_G_Watts-Speculation_as_a_Fine_Art_and_Thoughts_on_Life-EN.pdf And Phantom of the Pits(POP) by Art Simpron http://www.trading-naked.com/library/Phantom_of_the _Pits.pdf Find what ever trading method you are comfortable with and never violate the rules in these two masters, and you will find your edge. Good trading to all!
absolute bullshit. I made a 6 figure living trading a highly leveraged account for over 5 years trading stocks off of t/a. It worked great until they changed the rules. In my office at one point in time 12 guys made a living doing the same. we made 20 - 100 trades a day. it was not statistically anomaly. It was an edge we had using t/a. I am sure there are plenty of guys who still make a living using t/a. the markets are very far from random.
If you have a solid edge, you don't need psychology stuff. Psychology becomes an issue because you have no edge and your mind begins to question what you're doing as your confidence in your method erodes away. If you have a solid edge/consistently profitable method, psychology rarely enters the realm. Unless, you're a really weak trader to begin with. A trader with a great psychological frame of mind and no edge/losing method just confidently pisses away his entire account. Sort of like a perpetual casino gambler with a permanent smile. No edge=loss of capital & need for psycho shit. Good edge= money making machine & no need for psycho blab. Foolish book authors who say...control your emotions, bla, bla, bla, don't realize that a trader who lack emotional control is someone with no edge. No matter how much 'control' he exerts on himself, he's just going to drain away his account in a controlled manner.
I dont know why people keep throwing the word "Edge" around, because no one really has an edge. you and a million other people are most likely looking for the same set ups.... just about every system and style of trading is being copied by millions of others. Just find something that works. the only possible edge you have, is keeping your mental state sharp, and alert, unlike every other noob trader.