stand back from trading for a week or 2 and listen to the 30 min updates from the radio,or just once a day from the morning paper,the largest accts that do 40-50% of the daily volume come in and make a few large trades a day and walk away,they are not glued to the computer,the computer and its indicators are not the market,make sure you are watching the right thing,you have to have an overwiew of the market ,not just a micro 3,5,or 10 min view
Hi duck, Actually, I think that - assuming we are talking about a non-profitable trader to start with - he and his family are as good as dead. If you leave out commissions, spreads and options (that one was really clever, robbie) and stick to "regular" trading strategies, I am sure the trader would have a really hard time bringing the account to zero (5k or whatever) unless he got really [un]lucky, because he would simply play his mental games in reverse. For instance, he would be so scared to make money that he would place very tight "reverse stop-losses", i.e. profit targets and would try to let his losses run and average down as nutmeg suggested. However, his profit targets would likely be hit very often and whenever he was "losing" more often than not he would try to go for the 1/homerun only to see most of his "losses" evaporate. This is assuming that those were the problems that were keeping him from being a net winner. To make it more interesting, you could pay him "reverse commisions" every time he traded! I give him three months. Best trading, Jorge
He would just put everything into some ridiculously OTM options 5 minutes from expiration. Easy. Alternatively, just go long maximum intraday margin, every single day. Eventually you'll run into a decent down day and get wiped out.
thanks for your response, glad there are a few here that understand the post. I should've just said that he can only swing trade or day trade stocks... and no scalping.
I can't remember who had that quote, "98% of the progress of humanity is made by 2% of the population." I think the same can be said of trading, 98% of the money is made by 2% of the truly skilled traders. It takes a lot of folks losing 10K to give one guy 100 million profit. But not to worry, it seems you don't necessarily have to be successful in your trades to at least land a high paying job in the financial industry.
Of course, of course that is the case. Simple mathematics will tell you itâs the only way possible for it to work. 98% are the resources for the other 2% Just like you cant expect to have 20 lions thriving in an area that only has 3 gazelles. Yet you always have cubs listening to gurus that came along and wanna sell them a fruit juicer.
You guys are too stingy. 98-2? The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity) states that, for many events, 80% of the effects come from 20% of the causes.
take the 25k, using $500 intraday margins and buy every gap up in es, short every gap down, do not use a stop.
Forgive me, I thought the thread was about brain, mind and death. I'll go back to the religion forum now. Jesus