Exactly, you want to play the probabilities as indicated by the largest dataset you can collect. If you have enough datapoints, you could even work with a mere 1.3 profit factor.
But if you don't have an edge, you probably have a negative edge after commission and spread, and you lose that much more each time you play. You're just prolonging the inevitable unless you're just looking to get lucky. But I think the takeaway is that you shouldn't bet without an edge unless it's for entertainment.
Agree. I didnt mean to compliment his style but anything is better than 'I have no edge so I'll bet the farm on the first trade that pops into my head'.
%% MY banker dad ,smiled, told me when i was a kid '' I think ALL businessmen are crooks'' I smiled + noted to my banker dad ,''I don't think you are a crook ''LOL SORRY\but market s are not a'' coin flip''; many reasons .Chiefly , even if you want to use A COIN AS A PIC, some ''toss the coin'' as Proverbs notes. Big difference in a toss + A FLIP. Any/ that ran a business knows its not as simple as a coin toss ........
Hello semperfrosty, Good response. I personally would not risk my entire trading account on one trade but I still think its a good idea to do. I believe this is how Mr. Williams made all that money in one year, he was betting the entire account on one trade. Yes, I click buy and sell button all day and NO I do not have an Edge. Have no clue in the world what a damn trading Edge is. Sounds like a scam. NOONE on the ET forum can identify with me what a Trading Edge is and how it has made them a $1million in one year. NOONE. So, forget this trading Edge bullshit.
Good Morning Frederick Foresight, What is a trading edge and please show me someone that claim they have a trading edge and made +$500,000 cash per year for 5 years in a row with their trading edge? $10,000 cash per year for 5 years in a row will suffice as well? @Good1 or @semperfrosty or @ironchef can answer the question as well if you know! Thank you,
Hello Frederick Foresight, He gambled trading in 1987 and made $907,000 on the gamble trading. He won. Whatever he did to make that 11,000% in one year, worked. So he is a good trader to me. Best I know so far. He almost made a $1million dollars. I am very curious what he did! I know another two traders back in the 1990s who made $5million trading in about 2 months as well. This is trading to me. Get rich, or get poor. Mr. Williams is a great trader to me. P.S. I do not care how someone makes a $1million dollars in a year trading, as long as they do it. Even if the $1million is loss the next year trading. That is what trading is to me, pure gambling with experienced.