What Happens When You Try to Time the Market?

This is a discussion on What Happens When You Try to Time the Market? within the Educational Resources forums, part of the Commercial category; Originally Posted by dbphoenix Refer to the post of yours which I quoted. Even though you've been trading for more ...

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Old Feb 1, 2017, 5:23pm   #33
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Originally Posted by dbphoenix View Post
Refer to the post of yours which I quoted.

Even though you've been trading for more than five years, you still don't understand how to manage leverage, you have no idea how to manage risk, you "hope", you don't understand what "confirmation" is all about given that you have no thoroughly-tested and consistently-profitable trading plan and thus no edge, and, in part for the same reason, you don't use stops.

These choices are your own. No one forced you to make them. Therefore they and their consequences are your responsibility. It is also your responsibility to make better choices. If you don't, you will go broke. This does not signal mature behavior.

You're welcome.
There is no thoroughly tested and consistently profitable trading plan, price action is variable, contrary to what the more vulgar PA authors sell. If you believed strongly that $300 commissions are impossible to trade with on the ES you would have contacted government regulators, as per your far-left political postings on here. If you run an automated backtesting strategy you will be surprised how much commissions can effect a mature trading plan, making a breakeven plan negative > 20% YTD. You speak as one who knows from experience, please share your commission and capital % returns for 2016.
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Old Feb 1, 2017, 5:28pm   #34
 
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There is no thoroughly tested and consistently profitable trading plan, price action is variable, contrary to what the more vulgar PA authors sell. If you believed strongly that $300 commissions are impossible to trade with on the ES you would have contacted government regulators, as per your far-left political postings on here. If you run an automated backtesting strategy you will be surprised how much commissions can effect a mature trading plan, making a breakeven plan negative > 20% YTD. You speak as one who knows from experience, please share your commission and capital % returns for 2016.
And how much money have you lost by trading this set of beliefs?

Who is responsible for these losses?
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Old Feb 1, 2017, 5:37pm   #35
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Originally Posted by dbphoenix View Post
And how much money have you lost by trading this set of beliefs?

Who is responsible for these losses?
How much money have you made by marketing Wyckoff's beliefs?

Individual responsibility, free will and determinism, is not an entirely black and white issue, perhaps I overestimated your intelligence?
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Old Feb 1, 2017, 5:42pm   #36
 
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How much money have you made by marketing Wyckoff's beliefs?

Individual responsibility, free will and determinism, is not an entirely black and white issue, perhaps I overestimated your intelligence?
The amount of money I've made or lost has nothing to do with your losses.

You have a choice between being a winner or being a loser. Making that choice is your responsibility. You are currently choosing to be a loser. At some point you may choose to change that course. Or not. The choice is yours.
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Old Feb 1, 2017, 5:44pm   #37
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The amount of money I've made or lost has nothing to do with your losses.

You have a choice between being a winner or being a loser. Making that choice is your responsibility. You are currently choosing to be a loser. At some point you may choose to change that course. Or not. The choice is yours.
Yes it does, you are clearly judging me as a loser, perhaps a black swan loser even. Therefore I am a rare occurence among losers, a real loser's loser, in your mind. Your mindset is that of a winner's, with the past success to prove that confidence many would take as arrogance, with implied winning P&L statistics. Please share them or stop judging me.
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Old Feb 1, 2017, 5:49pm   #38
 
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Yes it does, you are clearly judging me as a loser, perhaps a black swan loser even. Therefore I am a rare occurence among losers, a real loser's loser, in your mind. Your mindset is that of a winner's, with the past success to prove that confidence many would take as arrogance, with implied winning P&L statistics. Please share them or stop judging me.
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I have lost £20,000-80,000 each of the many years I have daytraded futures or stocks, commissions to the brokerage got from me around £5,000-7,000 per year. Even when I'm profitable during some years (years always end as negative even if positive) I feel like I'm treading water or I need to make more and more to make up for the expenses due to how much it costs just to daytrade futures.
This state of affairs has nothing to do with how much money I make or even whether I trade at all. If you choose not to assume the responsibility for your situation, then you ought to quit. If you choose not to quit, that is also a choice.
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Old Feb 1, 2017, 6:08pm   #39
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This state of affairs has nothing to do with how much money I make or even whether I trade at all. If you choose not to assume the responsibility for your situation, then you ought to quit. If you choose not to quit, that is also a choice.
Individual choices are influenced by group ideas and attitudes or memes. I'm pretty sure you spread a meme on numerous trading forums that price behavior has not changed with the advent of HFT and algorithm trading from the 1900s or earlier due to human psychology and that the markets can be consistently exploited based on technical analysis and price's footprint caused by human psychology. Both of these claims are outrageous claims to make without evidence.

Why would you sell a book to traders if you were unable to consistently profit from the market? I can't imagine why anyone would do that unless they have a sadistic and deceptive side to you that is not revealed in common discussions of politics over tea. Mr Charts is free to step in here and answer my questions as well, since earlier in the thread he did make a claim that he reaps huge profits from the market, while apparently he teaches for a living as well.
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Old Feb 1, 2017, 8:33pm   #40
 
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A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. Thatís the kind of thing winning traders do.

--Ed Seykota
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