Yours too So no big deal here.. What can be remarkable here is how you arrived at this figure? Using simple psychoanalysis / just amateurish so forgive me/ one could say - I'm number ONE here Is that what you meant? Next time give it like 5%, yeah, 5 seems safe , anybody could feel like he is included
The number ones are usually scammers. My chances were 1 % when I started, not any more , nowadays they are 100 % though not in every trade but overall. I started as a tea boy in this game bought all the books written by snake oil salesmen ,paid for failed traders/cum mentors and listened to all the pros on forums (they sold me other things like Eas,indicators ) Workout the true odds of success for yourself.I ain't doing your work.
This is a fallacious statement. "System" already includes money management. There is no such a thing as a "system" without money management. Money management is a set of rules to prevent ruin and maybe to inrease returns. Money management without an edge of some kind is useless. I think you are wasting your time with trading. So do the others here who believe 1% win, etc. Just do your homework and stop worrying about the "others". Exchanges were setup so you never know who the others are.
Just rooting around @ midnight before heading off to bed and saw your post here. I could have written your thoughts about philanthropy myself. We have the same focus. Nice to see this. This is what I'm up to also in my own unique way maybe. And along with this I'm interested in using my other insights and abilities to best choose how and where to direct this to do the most good. And to direct it toward things that I know the most about and feel are the most important. It's not just the amount of philanthropic capital that's important, but having the vision and insight to use it most effectively. Bill Gates and Warren Buffett have the most philanthropic capital I'm guessing, but someone like Bill Clinton, who they work with, knows how to effectively connect people through the Clinton Global Initiative. http://www.clintonglobalinitiative.org/ http://en.wikipedia.org/wiki/Warren_Buffett#Philanthropy And of course just creating free time to do the actual work of philanthropy and doing good is important in itself. When I'm talking to people to explain some of what I'm up to with my involvement with the markets, I bring up Robin Hood. This is of course where Paul Tudor Jones' foundation derives its name. http://en.wikipedia.org/wiki/Paul_Tudor_Jones#Philanthropy I need to get to bed. Didn't get enough sleep this week. We'll talk more.
hey man, where are you going in Africa? I have family in Mali, we can set you up with a place to live.
otherwise, 90% of what I do is just MM, 10% requires reading the market for instance, betting on the trend or the chop or a mix some systems have an RR of 1:infinity (trend) (biggest winner) my scalper is 4:1 (and the stop is often not honored) and the best chopper is simply 1:1 it's all money management, entries are always random, some enter at the high, some buy after a big move up, some buy after a big move down etc.
What trend direction do casinos take? What is money management of a casino ?How much does the casino risk per bet?2% ,5 % or what?
I'm not the house, I already have the spread and commissions against me. My odds at the market are about the same or worse than my odds against me at the crap table. The difference is the trend or the chop. Plus I have the option of betting who will win and who will lose, and how much they will bet. Most of the time the market chops, and I can bet just like any crap shooter and eventually lose over time, but when it does finally trend, it can trend longer than you can roll sevens and avoid them to make your point.
as a matter of fact, Dave Chapelles "World Series of Craps" would be a good example. The idea not being to make money, but just be the last man standing. Almost every bet is made not on the dice, but on how much your competitors are betting.
Very cool BCE, Thank you for sharing your thoughts. See folks not every trader is an asshole that just wants to drive up the price of gas lol. Robinhood is a great thing. OILfxpro, MM, yes it's great, but you need positive expectancy on top of commish and slippage. MM is just an important piece of the puzzle. It isn't EVERYTHING. You make it seem like it's so easy to overcome vig and get a 51% system at 1:1 or better. Easier said than done my friend. Vig is the invisible hand especially the lower timeframe you trade. Longer timeframes, vig isn't as much of an issue.