I got you point Tar, my problem with it is that because your General is afraid in losing the war his moves will be too prudent and in doing so one by one all his soldier with time will die by old age (yes in peace, that it is the only consolation) but he will still end up losing the war without trying.
tar
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Not if he has a solid plan and reasonable expectations .
tar
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Ofcourse its not , just sharing and giving an example what can be done even with tight stops ...
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wallstreetwarrior87
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Correct, this is not a competition. Its about the goals you set for yourself, only you the individual can make the call, after all you live and die by the decisions you make.
As Elder's book has been quoted - is there any evidence he was a successful/profitable trader? Does it matter? Should I care etc?
Trading requires self reliance, pure and simple, only you can make the decisions you do, but this must be based on your ability with no BS, everyone has a level, some can read the market better than others, and that's fine, but we cant therefor all be utilising the same risk structures.
Goes back to the arguments about randomness:
In a random environment, dont play (or at worst play the odds with low stakes)
When the market shows its hand, play bigger, simple!
Why treat every trade the same? Never understood this:whistling
Just because you risk 2% (or whatever) does not mean you have to lose this amount multiple times! If you are, then something is going wrong - you are not listening to the music
Many men, many many many methods.
As Elder's book has been quoted - is there any evidence he was a successful/profitable trader? Does it matter? Should I care etc?
Trading requires self reliance, pure and simple, only you can make the decisions you do, but this must be based on your ability with no BS, everyone has a level, some can read the market better than others, and that's fine, but we cant therefor all be utilising the same risk structures.
Goes back to the arguments about randomness:
In a random environment, dont play (or at worst play the odds with low stakes)
When the market shows its hand, play bigger, simple!
Why treat every trade the same? Never understood this:whistling
Just because you risk 2% (or whatever) does not mean you have to lose this amount multiple times! If you are, then something is going wrong - you are not listening to the music
Many men, many many many methods.
wallstreetwarrior87
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Correct, this is not a competition. Its about the goals you set for yourself, only you the individual can make the call, after all you live and die by the decisions you make.
As Elder's book has been quoted - is there any evidence he was a successful/profitable trader? Does it matter? Should I care etc?
Trading requires self reliance, pure and simple, only you can make the decisions you do, but this must be based on your ability with no BS, everyone has a level, some can read the market better than others, and that's fine, but we cant therefor all be utilising the same risk structures.
Goes back to the arguments about randomness:
In a random environment, dont play (or at worst play the odds with low stakes)
When the market shows its hand, play bigger, simple!
Why treat every trade the same? Never understood this:whistling
Just because you risk 2% (or whatever) does not mean you have to lose this amount multiple times! If you are, then something is going wrong - you are not listening to the music
Many men, many many many methods.
sure, I agree, different people, perceptions, motivations and different views...
If someone has picked something useful for themselves the better.....
tar
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Ofcourse thats important ...
tar
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Big IF . So you have to be rich and profitable every year , you didnt consider black swan events that may blow up your million quid account , it may happen .
ffsear
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Well yes obviously.
Are you saying its inevitable that all traders will eventually get taken out by a black swan and that's the reason no one will make serious money?
Personally if i did have £1,000,000 to trade with, only 5-10% would be in any one trading account at a time.
If someone loses all their capital to a black swan, its their own poor risk management.
And how many black swans have you seen in your time? I can think of 3 in 10 years
f2calv
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To be fair I'd trade £100/point (and more) over a live youtube channel just for the crack of it
Signalcalc
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If you've traded from small for a long period of time, say 5-10 years with consistency and sound money management and you have adapted your MM strategy over the years as the profits have risen, then it could be easily possible to have made 1-2 million in that time and still be making money. That is what the big boys do after all, why not at retail level, what is it that would stop a successful trader from progressing in this way?
tar
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You can make good money trading your own account but you will make much more if you can translate that talent into business - trading - with others thats what i meant ...