"positive expectancy" also commonly known as guessing and gambling. You people kill me thinking you really know something
After awhile, it becomes a job like anything else, all I am is a glorified button pusher, listening for the chirping sounds of the automated programs making trades. Same patterns all fricking day, other day I have figured I have put on at very least over 250,000 day trades in my lifetime not counting automated or long term stocks, commodities and options. So when my health turned, I hired a boatload of local unemployed defense engineers (thank you Obama) so I don't have to trade at midnight, 24 hours of others staring at every tick, programming when they have time. This gets so boring after awhile, tick, tick, tick, but it is fun to develop new projects on longer term markets, where the big money is off the weekly charts.
Take 50% of the account and use it on yourself. Get the best hooker you can find. Buy the best drugs from your local crackhead. Give the rest to charity/people in desperate need. Do it in 1 night. If that won't motivate you to trade anymore, then you aren't meant for this game. Look for greener pastures elsewhere.
All good suggestions. Thanks for taking time to help me out. I notice I get burned out faster if following a discretionary system rather than a mechanical one. But I havent found a mechanical system I can trust yet. Are most of you here discretionary, mechanical or hybrid traders? And yeah...at age 53, if I havent made it by now, maybe I am too burned out to keep going. Time will soon tell. Yet...I did well as an investor/position trader holding positions for months -years at a time and taking 20% of the account and swing or day trading it...and kept getting killed, especially with proven candlestick patterns and moving avg systems. I still want more feedback. Im listening guys........
Incorrect. Guessing is making a decision with no prior research, testing, or thought. Gambling is hoping for the outlier win even though the odds favor long term ruin. As I said - guessing is gambling.
This is one of those no brainer questions. If you have doubts, get out. Just like a trade. You can always get back in. Piss around with the markets for a few years, then decide you hate it, and getting another decent job might not be so easy.
Incorrect. Unless you are 100% sure of the outcome you are guessing and gambling. And I am 100% positive you just cant fathom the thought that you dont have a clue.
Thanks for sharing your opinion. I will agree to disagree with your fatalistic state of mind. I have seen patterns of human nature repeat over and over. I have also felt the force of these human tendencies in my own trading and found that profitable oddz exist when waiting for the storm to pass before swooping in to pick up the pieces. I have back and forward tested my suspicions and found that indeed, combinations of tactics can be applied to get the better of market dislocations, which happen on a regular basis. But I agree with what you're doing. I may have to follow suit shortly........ can't be giving away the secrets, lest the herd figures out the game