Nothing works consistently

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Old Jul 28, 2008, 3:55am   #46
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Joined Jul 2008
Taleb's book for me was more like having coffee with this guy and he goes on and on about his ideas. It was interesting nevertheless... at least it confirms a couple of valid thoughts that should be passed around:

1. Pyschology continues to play a major part of trading because ultimately, even the author and his quoted great dead couldn't escape the fact that we're all irrational for the most part.

2. Having a system in place and being disciplined pays off in the long run (as Nero was compared to John and the rest), since in the long run we revert to the mean. (the thing is we survive so we're in the long run *lol)

3. Black swans - stop loss... enough said.
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Old Oct 24, 2008, 3:20pm   #47
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Joined Mar 2005
you work consistently, albeit, consistently losing money.

along with the 95% notion that consistently lose money in the markets.....

so you can continue to think that or you can identify what emotions consistently sabotage you in your trading and harness them......
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Old Oct 24, 2008, 3:40pm   #48
Joined Oct 2008
Breakout trading works good but only in certain markets. If you're looking for breakouts in a trend up day kind of market, making money should be quite easy. But if your trying to use those same setups during a sideway/down market, they'd probably not work out to good. If you like breakout trading, only trade in trend up days.
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