Alot of the problem is, to sit and do nothing for long periods of time, not many people can do that. The majority want to trade, but the best trades are often after having to wait. For example, right now I'm not trading, been maybe 3 weeks since my last buy, and I'm expecting not to trade at all for several more weeks, today is harvesting time, not sowing time.
The lack of knowledge about trading environment and potential may be an actual issue, because many people read old books on trading and get all excited about becoming the next great trader. So I, and many others, just tell them outright that trading doesn’t work, conditions have changed, etc. We see this here on ET all the time. But it would be nice if a few old-timers and a few great traders in general, including current ones, got together and clarified all this, or maybe had some kind of panel. Though practically we’ll just see everyone continue arguing, believing, disbelieving, without god advice for anyone except not to trade. Any advice that could be given and still current, needs to be kept confidential to not lose one’s edge, and it’s probably always been that way. Btw, who currently has connections and might be capable of organizing a traders’ panel taking about current trading environment? Could be a great video, like the one with scientists discussing the universe being a simulation, etc.
Yeah, Vitcor Niederhoffer blew up how many times? 4,5,6? Nice essay here: https://www.newyorker.com/magazine/2007/10/15/the-blow-up-artist Hey Victor, you still alive?
LMAO! What´s so hard to understand about "buying the dip"?.... Furthermore, what´s so hard to understand to read the chart below? You buy at lower 2nd/3rd SD and sell at upper 2nd/3rd SD.....it´s "basic" methodology for anyone actually observing any charts...
Yeah, here is your strategy in year 2000....I can count 15 entries where buying at a 2 SD lower BB and waiting for an upper SD touch to exit, would have gotten you absolutely clobbered/margin called/oh-fuck-me'd. I'm sure if I pulled up a chart of 1929, or 1973-74 it would look even worse. We are all geniuses in hindsight.
The chart examples show poor sell points. I think the trick is to only buy the dip when the instrument is in a clear uptrend and to avoid selling?