I actually did that on purpose. Debating/arguing with people and then publishing my trades like that really helped me to stick to my guns. Unfortunately, I set my trailing stop too tightly and got kicked out of that trade too early and was therefore forced to settle for less profit, but oh well. I also find it very valuable to place my trade and trust my stop. So, I do everything I can to get my mind off my current trade.
Doesn't matter what u say and how u say it. The fact remains More than 90% of small traders lose. They just lose Now, reload that small accounts. reload and burn that accounts. RELOAD http://www.elitetrader.com/vb/showthread.php?s=&threadid=236628
Whatever helps you is something you should do, but it sounded like you were putting it in the negative. Still though I don't think you can debate him.
There is a place where I see computers valuable for my trading style. Maybe its experience, but I find in certain situations I can't calculate and react quickly enough if I am trying to add or subtract from a position, or adjust the stop quickly on multiple entries. A simple application that interfaces with my broker's trading platform that would allow me to click a single button to adjust the trade(s) according to a predetermined formula, would be helpful. This is my next project.
IQ, EQ, tenacity, patience, perseverance, greed and a healthy dose of luck. Not everyone has all the requisite ingredients. I don't see many traders from the late 90's still trading. In the long run I think the failure rate is closer to 99%, given enough time, almost every successful trader will give it all back, to keep on winning I think luck is the biggest factor.
one of these trading websites had a free trading shrink webinar last week and she said 11% futures traders and 38% stock traders are still here after the 1st year
I think if you removed all of the entry requirements for a university degree, you'd see a much worse washout figure. Trading has no entry requirements other than a little cash.
I would add to that list: "knowing when to fold'm" In other words, having made your money, know when to walk away and do something else with your life.
Because, like lotteries, hope feels better than reality. Almost everyone thinks they are the smartest in the room.