DISAGREE! Each trade stands on its own. "Diversification" is the ploy of the buy-and-hold, "I can't figure out anything, so I diversify... that way, I hope to hit something to make up for my bad choices and don't have all of my eggs in the wrong basket should the spam hit the fan". As traders, we should diversify by OPPORTUNITY... diversifying by asset class is not applicable.
I recall years ago while taking the "Investment" portion of the CFP exams... and spewing the "diversification" strategy they expected of me if I wanted a good grade. I also recall a bad market period where EVERYTHING went into the tank as interest rates sky'd. Being "diversified" did not protect one's assets from a 50% decline, regardless of how positioned... except cash/short, of course.
Indeed, extremely difficult to see. Since none of those disciplines you names are themselves a science, anymore then, say, "scientology" or theoretical math is a science, its strains credulity to see how a combination of non-sciences can result in a science. But I understand that the word "science" can be, and often is used imprecisely. So if others have done this, why not you. But let us not be deluded.
True, forex trading business is something that which can be learnt and mastered by the traders if they have strong determination to learn the forex trading.
I just want the Jack on my podcast: https://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747 There is a microphone calling his name.
ET is so classic. Here is an ET vendor with a talking microphone. Not even ice cream trucks come to our neighborhood. Our small places are allowed livestock including horses for horseback riding. We know "If wishes were beggars, horses would have riders." (Keeping Covel's theme live, here). I posted the response to Covel's above response first to create a loop that explains Covel and his looney tunes. Now the I-tune script: Covel: Howdy, jack. I hear you live out west. JH: Your microphone is caling my name. Howdy, MC. Covel: Lets focus. JH: My artifical eyes are always focused; it was part of the surgery deal. Covel: I have some questions and you know I would not make them public before we met? JH: So you have said. MC: How old are you and how long have you traded? JH: I've traded since 1957 and I statrted right out of college at age 24. MC: I understand that but how old are you and how long have you traded? JH: I'm 80 and I've traded for a little over 56 years. MC: Have you made any money? JH: Yes. I published three prints of opening trades as recently as 2013. MC: Has anyone taken exception to your rading? JH: Yes. The SEC and IRS. MC: What did they claim about your trading? JH: The SEC said I didn't do it legally and the IRS says I owe money for income recieved. MC: What did you do? JH: I kept trading and I stopped using personal accounts. MC: What finally happened? JH: The SEC reasoned out that "I could not know that many people". The IRS is adding interest. I am putting money into the hands of people who are solving problems. MC: What kinds of trading do you do with no trading accounts? JH: I do MAT trading. There are 10 accounts all POA's. I trade as an amateur under NFA rules whereby my IB has me sign notoraized statements. they make avaialbe to others. My records are not available to the public so far. MC: oh. what approaches d you use? JH: I use one algorithm (PEP) and three APPS: PVT, SCT and SSR as you have read when they were explained in detail. MC: Have you ever done anything on Wall Street? JH: Yes, I had the fence taken down around the Treasury Building in 1976. I also had a diner for the Museum's Collaborative in the Treasury Building to celebrate their contributions during 1976. (The financial community did not get invited). My role in the Bicentenial in NYC was considered significant. As a person associated with the land in NYC since precolonial times (see Beekman Fund plaques on the buildings you work in (NYC); The land is still leased out.), I help solve local problems. MC: If what the prints you posted are true, then you make a lot of money. Any comments? JH: I learned the term photoshop from Nitro. Many of my calls and charts have been deleted by Magna as a result of whinners complaining. ET has a wonderful filter to keep people away from me. MC: Why are you such a joke on ET? JH: I will always be a joke. My posts filter out people who do not do the work required to understand the system of the market's operation. The market has no noise, no anomalies and/or no flaws.
MC: One followup Q. Is trading teachable, or ..... JH: I had innate talent(I'm sort of self taught, almost) so I taught trading to thousands of people successfully. The OP does not want to get rich and he knows about innate talent and not having it.
O100: Also,Jack,why didn`t you ever try to make your teachings house home?Had hard times with your mentor too long as well? JH: