My first post; some observations on trading.

Discussion in 'Trading' started by abc1, Sep 2, 2007.

  1. Obviously no skill, whatsoever.:D
     
    #101     Sep 11, 2007
  2. Dustin

    Dustin

    Oops make that 10+ years.

    Was just thinking...abc if it wasn't skill that produced my profits over the years then what do you think it was? Maybe you can clarify.
     
    #102     Sep 11, 2007
  3. Ten years of consistent luck. :D

    Also, who needs an "edge" when all you need is somebody dumber than you to take the other side? :D :D :D
     
    #103     Sep 11, 2007
  4. abc1

    abc1

    I understood it as 1.6 x (ignore my %) So for every $100 you lose; you make $160.

    On a 56% win/loss ratio you would have to trade a lot to make the type of money you are referring to or in very large size or a combination of both.

    Either way I don't see that much skill in your results.

    For example; I could theoretically place 1 trade with large size and make more than that. This would give me a win/loss ratio of 100%. I could chose the direction of the trade by flipping a coin; I wouldn't (don't worry) but I could.

    So while your results might be good for your bank balance can you conclusively prove to me that skill is involved ?

    The moment you place any trade there are a mountain of market forces determining the direction of that stock/index/currency pair etc that it is out of your hands.

    Yes you can use information to make the trade which you believe should give you a reasonable expectation of profit but once the trade is on there are no guarantees on the direction and hence no skill involved in the outcome; at the very least it is difficult to prove.

    abc1
     
    #104     Sep 12, 2007
  5. LMAO ...


    abc, you are either an idiot or just playing at being one for fun. theoretically .... my arse.


    Dustin, imho, you are exhibiting a great deal of skill. The only lack of skill you display is in not dumping this cretin. Although I, and no doubt others, gained from the information you posted.

    . <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1601381"> .
     
    #105     Sep 12, 2007
  6. Dustin

    Dustin

    Yes there is skill in finding a 56% edge in direction, and there is skill in trade management that creates the 1.6X winners.
     
    #106     Sep 12, 2007
  7. Dustin

    Dustin

    Thanks, obviously I don't care if this one guy gets it or not. There are always new traders on ET that could believe his misunderstandings so it's worth proving his theories wrong.
     
    #107     Sep 12, 2007
  8. Just a comment. Over half our traders have been with us since 2000 or before, and many of the originals from the early nineties are still making money as well.

    Over the decades, I have noticed that good traders will continue to be good traders regardless of market conditions. We all have to "adapt or die" - just as in any dynamic business.

    Trading is just a business, and everyone approached business ventures differently, but in the long run, a good business person will perform better than those who do not possess the skills.

    Trying to "prove" a skill in something like trading is tough. Reminds me of our favorite movie "Trading Places" with Eddie Murphy and Dan Akroyd. Was it Genetics or Environment that creates good traders. And, to date, I have no clue...probably a bit of both, just like with most people.

    FWIW,

    Don
     
    #108     Sep 12, 2007