1) Everything is the opposite of what it seems in finance. It all exists to take your money not make you money. All the big shiny buildings in every financial center were built with the money of people looking to make money, not much different than the shiny casinos on the Vegas strip. 2) You will beat most Hedge funds, CTAs, mutual funds, traders, and most every sort of wealth manager there is just with a low cost S&P500 fund you hold and don't trade.
Imagine back when Reagan made statements that he also followed through on because he was that type of leader, and you bought some low, even underperforming, stock because you 'risked' he would follow through. Lots of missed money. And it is a lot safer than say, 'vegas' since the government these days picks winners and losers at will almost. There is a reason a whacko like Nancy Pelosi is a millionaire now, and it sure as hell isn't because of her brains, it's because of her power to intimidate, manipulate, and gain favor with lobbyists, then investing in the stocks she knows she will affect. Sad to me, but reality now.
What's the most counter-intuitive thing you learned in trading? In order for price to go up it has to go down...
Many systems/methods that sound like they should work do not work. For example, it depends on your system, but in many instances, stops are counterproductive.
You need capital, so you dont need pipe dream returns to make a living, and you need exceptional risk control, cutting losers short nearly asap, all else is bs and ego talk. Sick of reading so much bullshit lately.
I floated the idea before, that the inner circle could be profiting from his tweets, w/o real fear of reprisal now that we have his SEC appointment. As for why XBI is so 'mispriced'. I took a big hit over the year, and politics was why, Clinton price fixing talks, Skirelli guy price gouging, then Trump talking more about price fixing, followed by FDA easing of deregulation made that chit year a winner for many. I still think biotech is under priced but it's picking up momentum fast.
Trading is one of the few jobs where the time and effort the individual puts into it has almost no relation to the money the individual makes.
Trading taught me that most people run away screaming at the prospect of making money. They run away screaming from their debts too. What IS it with money? I've never attached much importance to it- I don't need it everyone else does. Money is not the problem-in fact there's too much in the world