u gotta be dumbass to be a rich trader, smartasses go broke

Discussion in 'Professional Trading' started by chewbacca, Mar 24, 2011.

  1. Yup, the grind is the most frustrating. But if a casino can do it, so can traders.

    Exactly. They're on here too.

    Once you've got S/R down you can even incorporate new things like cycles to increase win rate. But you have to walk before you can run.


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    You have to be smart enough to attain and edge. You're not going to come here your first year and start smacking around the market. As with anything, you get better the more you practice. Eventually you'll make it. Smart and "smart" can be two different things. I think this thread over-simplifies it.
     
    #31     Mar 27, 2011
  2. cornix

    cornix

    S/R are great, yeah! :)

    Agree again. You have to be smart and deliberate enough to collect stats, interpret it correctly and build a trading system upon it, plan your trades well.

    But dumb enough to not think over every trade, just trade your plan.
     
    #32     Mar 27, 2011
  3. Sometimes people appear dumb (intellectually inactive) b/c they already thought things out.
     
    #33     Mar 27, 2011
  4. btw on the quants,

    they use sophisicated computers that sits right beside the Exchange Computers and trades at speeds of 10-100 trades per microseconds. Thats just roughly 10,000 - 100,000 a sec in case your slow in maths.

    Take a look at index/futures, relative value arbs, and probably some other strategies that I shan't disclose here.

    And do accept the fact that over 90% of volume u see running are computer generated. Basically market makers buying and selling with each other to create volume so that you, the "market" can trade. btw Hedge funds don't really much trade over ECN since they have dark pool alrdy.

    I don't work in huge banks or firms btw.
     
    #34     Mar 28, 2011