One thing I realized was, if you have an edge and are making a lot of money in trading, best to become a venture capitalist on the side and invest in passive sources of income- because your edge may not last much longer.
Correctomundo!!!! That is why I stated in the thread linked above that when you have an EDGE you can't wait to wake up and go to work each day - you don't want to miss a single day - weekends? ... holidays? ... what holidays, you just don't want to stop because you know deep down that you've got to make hay while the sun shines - the EDGE can be neutralized by external forces or snitches or copycats or betrayers or whatever. Then you rest and find a new EDGE. They are not easy to find but they make the difference between sheer effortless work and a boring slog for peanuts. The EDGE bests ALL rules and ALL books and ALL TRADING RULES brandished like the fckin BIBLE at ET. If I had a match I light the bonfire of bullshit myself - but I don't because if I did, then where would all the retards here go? Why, they'd come to my house like locusts to pester me.
Hard work Passion for trading Not predicting, but reacting Knowing what to react to Escaping noise trading trends Patience a bit more Patience Trading your plan, no deviation Not reading others but your own trading journey More hard work No free lunchs, all hard work. THE Madman
When it comes to secrets, I think Lao Tzu said it best: "Those who know do not tell; Those who tell do not know" Then there's another good one he's written, very good for learning anything: "The fool knows how much he knows; The wise man knows how little he knows" But, I don't think these are secrets, I don't know.
Lao Tzu's uncle posts at ET - his name is Tsing Tao. The former has merit, the latter is a whiner. If Confucius were here, he'd plug 'em both. Einstein blows your Secret #1. So does Bernoulli. Ditto for Pythagorus. Ditto for Cicero. Ditto for Archimedes. All these great men knew and TOLD. Your secret #2 (The fool knows how much he knows ...... ) is blown by contemporary times' WARREN BUFFET who clearly stated he knows simple stuff, little stuff, but well, and does not mess with what he does not know or understand. ------------------------------------ The above are all HERD aphorisms .... therefore right-click, sendto, recycle Bin. The analytical mind could frame something like this ...... Know that what you know you know well and that what you don't know will soon come acalling because NATURE abhors UNKNOW and will soon infuse KNOW. Now that is real power. Apologies for the vernacular
There it is right there. A newbie spouting off cliches he learned at ET. Its solidified stuff that sits betwixt the transverse and descending colon. So what's the truth? EDGE.