Many traders think they have found the "edge" ie they have found an entry/exit criteria or speed of service etc that the rest of the market doesn't have. Nothing could be further from the truth. Any edge these folks think they have is already being seen and used by many many other traders. --However what most traders don't have is the ability to prudently manage risk and those that do , have the edge in this business. The inability to manage risk is what causes downfalls or if profitable, reduced gains. ---
Then why the hell do you ride the markets up and down...down and up...like a termite in a yo yo not taking your profits when the market gives them to you. And who knows..you may not be taking your SL's??? I mean if you can't take your profits you may not be able to take your losses? Maybe you should put on your profit management britches and your risk management shirt! ROFLMAO PS. Price action is an edge that will NEVER expire until the markets EXPIRE FOR GOOD. Learn it and learn it well. Sorry didn't mean to be so mean. I just got tickled. .
When a person dwells on a subject so much, the odds are very high that the person is speaking from first hand experiences.
Yes, I am very surprised also, as I never heard of this guy. I replied to his post on the other thread, but it has now being deleted by the mods. What is all this about?
Trading is gambling with casino house edge equivalent to the commission and interest payments. Minimizing and overcoming the "casino house edge" will enhance the trader's statistical chance. Like a game of Blackjack, there are rules that can enhance the player's chance, but only when all these rules are applied and played with optimal strategy can a player stand a chance to beat the casino. In trading, prudent risk management is one of the rules that can significantly enhance the trader's chance, but it is when all the favourable rules are applied then you will have an edge. To identify and fully understand the theory behind all the favourable rules, that is another major journey. Pension Admin
%% I had a gambler friend from Nevada, loan me his expensive shotgun , in Argentina dove hunt/harvest. His gamble paid off, PA. LOL BUT A BIG difference between gambling + stock market; your broker likes it when you win /trade. Mr Thorpe's[blackjack cardcounter] car had the brakes tampered with almost lost his life + got kicked out of blackjack tables.......................................... So never forget that. Thanks ; Blair Hull went from black jack to trading-investing , not the other way around...... I see your points,PA.
Then stop using the RSI and see if your results change. Could you eliminate the RSI and just use random entries? BE HONEST...do you think your results would really be the same either way?
Buy double bottoms at the low and sell DTs resistance at the high, payout at x3 risk, risk stops 1/3 of payout in % above entry. Some you lose, some you win.