See you guys have been drinking the cool aid all this time!

Thats what threw me off..
WxyGuys threads/posts were over the top lame and Wxytrader was responding to them..

 

the guys a waste of time.

 

I thought they were different at first.

Then I noticed the same level of polite arrogance and entitled ignorance.
Which is pretty unique.

A case study.

 

This instinctively makes complete sense to me.

I'm sure it depends a great deal on "how you select your entries" in the first place, though.

I make no claims to be a "very experienced and successful trader" (though to be honest I also don't do too badly for an old guy who came to trading "later in life"), but I've very much found the same: when I enter a position, I need it to move in my direction, if not "pretty quickly" then at least "without much adverse movement before turning".

Otherwise it was a bad entry and I want to be out of it.

For sure, I'll occasionally take an unnecessary-with-hindsight small loss before re-entering something profitable, but I find those to be cheap mistakes to make, collectively (compared with any practicable alternatives).

I know a lot of people posting in forums think that the basic trading advice given in many/most textbooks is pretty much misguided and mistaken, but I actually think more or less the opposite: I've found that "cut losses short and let profits run" and "buy the dips in an uptrend and sell the rallies in a downtrend" are actually very constructive ways to develop an edge, and I think if anything they're underemphasized and too widely ignored.

I involuntarily shudder when I see beginners or at least traders obviously without an edge posting in forums saying "My stop-losses get hit too often, what should I do?" and longer-established members are replying to them (typically with no idea at all what the people asking are actually doing or how they're trading) telling them that "they need wider stop-losses or no stop-losses".

These are people who "learned" to trade by watching Youtube channels.

They don't understand the difference between information and marketing.

When they do have "5 years' experience" (so-called), in reality it's usually the same 1 month's experience repeated 60 times over, rather than anything more helpful.

 

The P/L sheet is the final arbiter. Talk is cheap and opinions are like $&(holes. Multi decade statements have some relevance. A stop can be targeted by an algorithm and force a position closure and then reverse in the next nano-second.

Akuma