Which is essentially the point that Magee was making decades ago. What I find most interesting about this "you can make tons of money with a low winrate" business is that it originated with Van Tharp, who was a complete failure as a trader. The low-winrate people simply ignore the psychological ramifications of continued failure (the chief reason why most traders cut their profits short). Which tells me a great deal about their trading ability and about their trading experience and how much of it is simply manufactured for message boards.
You have a very narrow vision on things and have no open mind at all. For simple people everything is simple. At least 70% of all traders are never successful in the long term. So this must all be real idiots, according to you. They cannot even make easy money. Two men meet and start a conversation: 1: What is your job? 2: I paint cars. 1: Oh what a coincidence, I paint cars too! 2: We are busy with a revolutionary process in painting. We are testing paint that is very strong so that paint does not get damaged in a carwash anymore. 1: But why should you go to a carwash? 2: When your car is dirty it should be cleaned. 1: But the cars that we paint never become dirty! 2: That's impossible, every car becomes dirty. You are stupid. 1: No I am serious. We use nano technology to paint cars so these cars reject all dirt because of this technology. 2: What is nanotechnology? Knowledge is for every person different. You can be an expert in a certain area but at the same time an idiot in another area. So don't judge others because you might miss the knowledge to understand him. For me support resistance and drawing lines is complete nonsense. Why? Because to me it does not make sense. Is it nonsense? No, because I know people who use it successfully. I am not attracted by these techniques and maybe even not capable to use it correctly, but I will never say that I will not work. Many people forget about their own limitations, they think they know everything. Almost always there is a relation between this behavior and the IQ of this person. Theoretically the smarter a person is the better he will be able to admit his own limitations.
Do you DAYtrade, I-Am-Nobody? If so, I take it you Are you a time+sales/Dom trader instead of using charts? cheers
Imagine the opposite argument from what I contend. It sounds like this: ---"Money management is not important to successful trading. There is no need to place emphasis on how much you can lose on a trade." --- Sound like a good plan?
The continued existence of trolls means that this frustration for those who view the world such as you will likewise continue. Six weeks ago - a different set of trolls, but we were making the same points you make today: I cannot conceive of starting a discussion thread to "argue" against a trading method that I myself do not understand. Unless I were trying to make myself feel better about some shortcoming. Or I were an unrelenting narcissist.
No, it doesn't. But your "money management" plan makes no sense to anyone who understands simple arithmetic.
Show me the post where DbPhoenix or any of those discussing SLA/AMT suggest that? You are becoming another marketsurfer - truth be damned, misrepresentations, lies, and ad hominem arguments full speed ahead.
I'll repeat from his other rantfest: Since you're so well-versed on the ins and outs of the SLA/AMT: under what conditions does the trader stop trading entirely?
"Bullshit - let me see your tax returns! How about a real time call! We're not discussing the Pythagorean theorem here - we're about making money dammit!" I figured I'd save the trolls some time.