OP failed along with the 30% who voted for the "ONLYTRUE EDGE".... Seriously,there is only ONE ?? Like Morpheous and Nio???
@taowave, I have been thinking about this problem for a while. Used to think it is total BS. Lately, I re-read this @Buy1Sell2 thread a few more times and began to wonder. To satisfy my itch, I ran a simulation, using a Markov market model (as a null hypothesis), to simulate day trading. Imposed all risk management rules etc., then made a few tens of simulation runs over this weekend. Guess what: The net outcome was profitable! Either there is an error in my code, or a few tens of cases is insufficient, or maybe we should listen to @Buy1Sell2?
There is no question that if you cant control risk,you cant TRADE successfully... That was never up for debate... Its not the Only True Edge
OK, professor, enough is enough, I will stop beating the dead horse. And I will stop trying to find positive expectancy from trading a set of random number, like inventing a perpetual motion machine.
I read it over the weekend. The psych parts are from the Mark Douglas cookie cutter. Regardless, it was a quick read and not dull at all. The reference to Liar’s Poker brought back good memories. Would I recommend it to others? Not really. But I wouldn’t not recommend it. I don’t think reading any particular book will turn anyone’s trading around from losing to winning. Anyhow, I now know where you got the “perfect your craft” phrase from that sounded odd to me when you used it.
Did I actually say perfect your craft?? Yikes!!!! P.s. If I did say it,I thought it was a Taowave original..
Maybe not exactly that phrase which is what I quoted from the book. You repeatedly call trading a “craft” which is what I found odd. I think you told SimpleMeLike to “commit to your craft” in the Newbie thread.