Guys use your smart brains, pls. When I mention Coin flip or 50/50, you have to consider market risk, transact, clear fees etc. They are known as broker fees. In long run a coin flip is 50/50, but everyime you flip a coin you lose alittle. I would say in the long run your need at least 40/60. And again 50% chacne to winning/losing doesnt mean 50/50. You have 50% chance to up, down, sizeways. Anyway case you lose abit.
It can help if you look for coin flip situations where if you're right, you make at least twice the amount you would lose if you are wrong. If the trade has a less than 50% chance of success based on past data, then make sure you'd make at least five times the amount you would lose if you are wrong, etc.
LOL are you decrying of yourself or your close associates, pls? may i beg to differ on your comment. as a trader, if you can not ski slalom successfully.... do not generalize that.... other traders can not, nor do not, have that ability, nor desire, nor talent to excel at that level.... ok? many, well maybe there are more than many other traders who trade successfully either in stocks, commodities and/or futures etc. there are just too many unexpectables in et for anyone to surmize that there are close to zero successful traders on this forum.... no, you definitely do not have to do any contrition at all.... we'll just wait out.... for you.... that one day.... you'll proudly join us.... even then it won't be too late to recant.... OK? BUT YOU DO HAVE TO, FOR YOUR OWN BENEFITS, CHANGE YOUR MENTAL IMAGE OF YOURSELF.... TO SOMETHING MUCH MORE POSITIVE.... OK? and if you can, try to find someone proven successful.... to coach you.... offering maybe 15% of all your net on net gains, as an enticer, perhaps;.... to speedup your journey to success and join many of those already successful traders.... cheers
we need to get a chatroom going to see who really can walk the walk for once and for all. Would be so interesting.
Good profitable traders do not visit chartrooms.They do not need the distractions of a chat room , and would prefer to spend their energy on their own trades.
that's possibly true, which means I guess on sites like this we'll never really know who is actually profitable. Have to take their word for it I guess. Makes it harder to know who to listen too, though. There are some people (such as in the CL thread, Visaria(sp?), Schizo etc who also do well calling out trades in close to realtime, although a chatroom would be much more suitable for calling trades, really. However, in contrast to your comment, I remember being in a room with a trader from trade2win who set up a free chatroom and called trades out in realtime for months on end and killed the market nearly everyday. He also shared his desktop showing his live accounts running pnl etc. He is about the only person on all of the trading forums i've ever visited over the years who I can safely say IS without doubt a profitable trader.
trade2win sent me some email several months ago. perhaps, you are willing to share his good name? thx much curiously, why did you not stick around success to learn and emulate more pls?
They will be happy to take your money , if they have difficulty trading themselves,and if they can't earn enough from trading.If you are good in this game you can make $250k with $20k due to leverage, you don't need to have trading rooms for income , these trading rooms are dodgy.
I disagree. I have no idea if 90% of the traders or writers I've listened to are profitable traders, but the information they provided was helpful and helped me develop a consistently profitable strategy of my own. If you hear or read some trading advice and you study it and it's useful, does it matter if the person providing the information is a profitable trader or not? Did observing this profitable trader in real time for months result in you being able to kill the market every day? If not, why not? I observed a very profitable day trader who called entries in advance (he used stop orders to enter, so he knew in advance the price at which he'd be long or short), along with stops and targets. I observed his trading for the better part of a year and never once mirrored a trade. Why? Because I was a counter-trend trader and I was afraid to trade with the trend like he did, despite the fact that he was consistently profitable, had over 8 years of trading experience and generated an annual return of over 100%. Often you can know a profitable system perfectly: You can recognize setups, know where you're supposed to enter, where to get out if it's not working, and where to target profits. This in no way guarantees you will translate this knowledge to profitable trading. Profitable trading comes from knowing the system, trading all appearances of the setups, and managing every trade by the rules, no matter what your overactive brain tells you.
i think you are profitable now and if you could follow what you describe here, there is no doubt in my little old mind that you'll be enormously profitable. yes, knowing the system, knowing or even watching a profitable trader trades, does not make a trader out of anyone.... unless you internalize and peck out the order time and again, day in and day out.... like practising martial arts in any disciplie--merely watching the master moves is not sufficient at all.... luv your post.