Nothing is simple, that's what I learned. Ever wonder about FRESH 100% orange juice for example. Well you should http://www.therealfoodchannel.com/page/36.html not even a glass of orange juice is simple, so why on earth would anything else be simple, ex trading etc In the same way advice given on ET by anonymous people is almost worthless. I could write a book on the subject. Ever wonder how come so many flock to give you psych advice in trading, where what you really need is an edge. I see this on ET all the time. Advice I see on ET is unreal and has nothing to do with reality.
In the same way advice given on ET by anonymous people is almost worthless. I could write a book on the subject. -------------------------------------------- There are 3 types of info/advice. 1) To da moon!!! 2) The posts which remind us of what we never must be. 3) The good stuff. There's probably about 5 different people that post on the entire internet, of course these 5 people comprise millions of screen names but the difference ends there.
Yes, without an edge, all the mind games in the world won't help. What I have found is that the edge needs to reflect your personal needs. For example, if a trader needs an adrenaline rush, a highly systematized program won't work for him and he will get bored. So, build an edge that gives you satisfaction. Once you have the edge you need to build a well defined strategy. Now you have a process that builds on who you are...with a market edge and a defined strategy that can be followed and improved. Rich Friesen
Yes, I've always thought that psychology should be part of the edge, not separate. And maybe posting on ET isn't all about giving advice, it can be about finding others who are like you, as well as others who are not like you, and using that to your benefit.
Funny you mention it, I did just that. It reads: Pay no attention whatsoever to that idiot who keeps coming back to ET with a different alias every couple of days
Print this and put it next to your monitor: "It's time for me to quit creating aliases on Elite Trader, log off, and seek the support of my local psychiatrist."