IMO trading is just another job. No different from management or anything else. There are tactical differences of course, but they are more superficial than truly structural.
And the result of following a thoroughly-tested and consistently-profitable trading plan is profits. However, profits are the result, not the cause. If this is going to turn into another theoretical exercise, I'll have to pass. There are so many of these already, and they all turn out the same way. This thing with the trading plan is turning into a party piece. Either one is going to do it or he isn't. Nearly everyone doesn't. Which is a pity, but there it is.
That's an important practical question IMO. Do people mainly trade for the money (the result), for fun (the process) or something else?
My initial trading mentor-- guy made millions starting with his college fund--- was as astrologer so i am familiar with astro finance. I also am email friends with arch crawford having interviewed him for Yahoo. So, i did the opposite, astro was my introduction to TA. Do i believe in it? No. surf
I am familiar with dart finance. Rules: If pair you should buy If impair you should sell Outer small circle is double position Inner small circle is triple position Red point in the middle is go all in Small green circle is extra dart If you miss the board your account is wiped out Must be frustrating to be surrounded by millionaires and not be one of them. You are probably the exception that should confirm your statements.
Hmmmm, personal attacks again because i have destroyed your god and hope---- arch crawford has the number one most accurate newsletter of all time based upon on astro and that doesnt mean astro makes sense-- Any evidence for dart finance, moron? Go back to your cubicle or hovel.
We do this because we believe -- or want to believe -- that we can. Same reason we walk into a casino. When we are then presented with evidence that maybe we can't, there is at the very least a readjustment to expectations. Sometimes a blow to the ego, depending on how emotionally stable the individual is. Sometimes a devastating blow. Therefore, anyone who thinks that the solution lies in slapping an MA on the chart or trading a different bar interval just doesn't understand what's going on. At some point one has to ask himself OK, Ace, just who the hell do you think you are? Eventually, it is to be hoped, one realizes that while he is in complete control of how to play the hand, the market is the dealer. This injects a necessary dose of humility.