I somewhat agree with this except for trying to find one strategy that fits all. I think markets today are too dynamic for such. In contrast, if a trader has a strategy that's designed for one type of market condition such as a trend, it seems to me the best approach would be for that trend trader to develop the skills needed to recognize a trend and then apply the method only in those recognized trend like environments while ignoring the same trade signals that show up in range environments. The above just seems more efficient than trying to design one strategy for application in all types of market conditions. In fact, I would go out on the limb and say that traders trying to apply one strategy to all types of market conditions are traders that have "difficulty" (pun intended) in recognizing different types of market conditions.
The reason for that misconception is, struggling traders think = feel they need to "win" every day. Many emotional reasons for that. Because they don't have a rock-solid belief system intact for their approach. The first day it loses money, they inwardly fear it stopped working, will never profit again. Because they come to places like this and read claims about how great traders profit every day. Because it is human nature to expect reward for effort expended. "We sat here all day... it was possible to make two bucks, but we lost money. We screwed up, we failed." No one complains about making one week's income in a single day.... so long as the other four days are profitable too. Nobody is content to make one week's income in a day, and tread water the other four. Then fear & doubt creep in... "what if that one day never happened? What if it was an anomaly? What if I have no edge?" == Most symbols trend every day... for at least one or more segments. Make your money in those moves, put it in the bank, and leave it there. Quit trading and walk away... hands down the hardest thing for at-home gambler addicts who call themselves "traders" in disguise. A real trader's job is to not lose much money in the process of making money. Once enough money is made, keep it from potential loss. Our job has absolutely nothing to do with trading all day & night, trying to figure out every possible wiggle bar by bar, etc. That's all stuff for gamers. Not serious traders. Sit, watch, wait. Deal with boredom and long periods of inactivity. See your trade setups leap off the chart at you. Only trade those. Don't try to figure out the market or find a trade. Let the cherry trades appear, and ignore all else. Book profits, keep profits, cut losses short in between. That's it. Trading is not a hobby or a game or a pastime or a measure of self-worth or a contest or bragging rights or anything else but a money-extraction process. Often droll, boring and mundane. If and when you finally reach that stage of trading, it becomes consistently profitable, too.
Handle, I do remember reading that you were recently drawn to spread trading. And, you somewhat state here that you are a better chop and/or range trader. Would you agree that a pair with good correlation and cointegration , charted as a spread (1st-2nd or 1st/2nd) is a fine example of chop and/or range trading? Seems that way to me.
Hi NoDoji, I tried to send you a message but ET system won't let me. I guess your settings and or ET is the issue. Can you PM your email please? Thanks Bob
The answer to " Why Profitable Trading Is So Difficult ?" is really a simple one:Trading is a zero to negative sum activity, and consequently the majority must lose if a minority were to win. No amount of work/ learning/etc can defy the above mentioned law. I design my methods with this law in mind: on a small fraction of winners consistently win, and the majority loose. I challenge anyone who would disagree to prove that the assumptions/laws set in this post are not correct. If you are among those who agree with me, what do you have in your methods that exploit the laws in your favor or at least prevent that you be exploited by those laws? I also noticed that people do not seem to truly understand the edge. They seem to think that an edge is the same (in the sense of logical equivalence) as a positive expected value (which is not correct), and further seem to think that risk vs. reward have symmetric relationships. In addition, one trading method is not enough. One would need in the order of 10 to 20 to qualify as a professional trader, because a trader is responsible not only for winnings but also for consistency. if one has sufficient capital, certain edges could derive from capital and could be taught. If capital is limited, one needs to be far superior in knowledge, skills and emotions.
Interesting... let's review... Nodoji claims to have a method that nets between $1500 and $5000 a week per CL contract, and it is 100% objective. She says here she asks interested students to do a home work of finding a certain pattern in 2 weeks of price action...... and no one will do it. I understand most people are lazy, but surely at least a few are willing to do such a simple assignment??? Previously she said that she in the past shared exactly how she trades with a dozen ET members and that those members could look at any chart of any day and tell you exactly where she traded and why. Yet none of those people can come out and reveal their own testing of this method and what the results were??? I know if someone gave me an objective method that was so successful I would certainly test it and then report back whether or not it could produce the results claimed. I wonder if some of the dozens of Nodoji students who have refused to do any of the work are willing to say why not?? There are always people jumping to defend her from any kind of questioning, so surely they can answer why they wont do the work she asks. There must be a reason. Maybe the student is lazy as ND says, or maybe they are not lazy but have some problem with the assignments or methods given to them, or maybe some other reason............
Topic: Why Profitable Trading is So Difficult Simple answer, because it just is, and when someone claims how easy it can be, proof never seems to appear, but excuses on top of excuses. The fact that these back and forth discussions about consistent profitability continue to haunt us years after years in public forums is substantial evidence. Something difficult takes decades to master, yet many are only willing to give it years.
Here we go, I was one of those people in the chatroom with her! Yes, I can look at CL chart and say where Nodoji would have taken the trade. How does that help you? I am not prepared to sit here and do some exercise just to convince you lot out there whether Nodoji is successful as a trader. Those of us who know her just keep silent, best way! Suffice to say she is very gifted and a GIVER!
Why do you need proof? Is she selling anything? No! She is simply showing how she trades, take it or leave it!