Secrets to success in trading

Discussion in 'Trading' started by jharmon, May 17, 2018.

  1. jharmon

    jharmon

    There are two secrets to success in trading.

    #1: Only tell people half of what they need to know to succeed in trading.
     
  2. Ranks right there with one of my favs......


    [​IMG]
     
  3. lylec305

    lylec305

    The people selling books, courses and advise etc. aren't making their money from trading ...
     
    boomdog likes this.
  4. smallfil

    smallfil

    What they are selling you are tidbits of information. Some good, some bad. It depends on the source. That is what makes trading hard. Getting correct information. Also, even if they know how to trade, they are not going to give you the secret sauce (edge) to their trading. Why would they because you would be competing against them once, you become a proficient trader?
     
  5. traderGOD

    traderGOD

    the Lion also does not give it's secret .......The King knows it will serve you nothing.
    Because you are a not a Lion.
    Maybe that is why John Bollinger gave his secret band to the trading world:he knew it would serve no good
     
    boomdog and CSEtrader like this.
  6. Someone telling you how to succeed and you then taking that and succeeding are two different things.
     
  7. qxr1011

    qxr1011

    repetition is the secret to any success

    the problem is no one knows how many repetitions will it take to succeed in his particular situation
     
  8. traderGOD

    traderGOD

    the secret to success is the management of failure
     
    boomdog, CSEtrader and comagnum like this.
  9. The other half is you instructing yourself how to succeed.

    There is no point looking outside yourself for all the answers, some may come from outside but the majority is from within, it's like you actually do lift yourself by your bootstraps.
     
  10. Handle123

    Handle123

    LOL, I have Bollinger bands on 8 of 14 systems on automation, what did you do for eight years?

    I think people are confused about the "edge", it is not one idea but several and you have to piece them together. Except for those who only earnings are from trading, how many have checklists of what must not happen to the left of present as this will negate good signals? How many have done 3,000 min sample size of each signal and left of present to get the probabilities to be able to have some type of roadmap? How many know how long is at max of being in a trade where it going no where? How many know if your trying to get out at breakeven-when do you go for one tick or entry price? and this checklist is much longer. And it never ends as years goes by you add.

    Those who can't trade, your own fault and it will continue till you are broke, you have to expand what you are doing by tenfold, when you can triple a demo account three times, then maybe you are ready to do real time, otherwise you are bait.

    And develop a trading plan, well back tested.

    And a good trader can make almost any chart or indicator to work, they have learned to piece it altogether. Figure out how to make it work.

    I know a trader that does well on moving averages crossover, it is all he uses, but he does not wait for the crossover, that part has nothing to do with his system and yet I see so often questions does it work, make it work.
     
    #10     May 17, 2018