BeginnerJoe
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Having control is the first step towards becoming a good trader. You would have noticed others are not so confident regardless how small a profit they are expected to produce.
anyone confident enough to post live 10 winning trades in a row?
- Thread starter MajorDutch
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Having control is the first step towards becoming a good trader. You would have noticed others are not so confident regardless how small a profit they are expected to produce.
Cornix
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Control over what do you mean?
BeginnerJoe
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Control over obtaining a specific objective. In this thread it means 10 wins in a row.
wackypete2
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This excellent trader has never lost a trade.
http://www.trade2win.com/boards/trading-journals/92770-final-holy-grail.html
Peter
http://www.trade2win.com/boards/trading-journals/92770-final-holy-grail.html
Peter
Cornix
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Good, but some additional parameters absolutely need to be considered when discussing a certain objective.
In this case, for one to have a very high chance to have next trades all winners, system very likely should have a poor risk profile or a trader should be extremely picky. In both cases that would likely result in less profits than using different approaches.
So, what is the point in achieving a goal, which has nothing to do with the real objective of trading (for most traders at least): making maximal amount of money with minimal risk and in minimal time?
BeginnerJoe
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So, what is the point in achieving a goal, which has nothing to do with the real objective of trading (for most traders at least): making maximal amount of money with minimal risk and in minimal time?
Control has everything to do with trading. If you have the control to attain any objective you desire, your profit is assured.
Cornix
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Yeah, but why not practice control in something, that is directly related to maximizing profits and minimizing risk? Believe me, sitting through 10 losers in a row and letting the 11th trade run into enough profit takes very serious self-control too.
Trying to practice control with something like "10 winners in a row" is as related to optimal trading as practice playing badly intentionally in order to become a better football player.
BeginnerJoe
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Yeah, but why not practice control in something, that is directly related to maximizing profits and minimizing risk? Believe me, sitting through 10 losers in a row and letting the 11th trade run into enough profit takes very serious self-control too.
Trying to practice control with something like "10 winners in a row" is as related to optimal trading as practice playing badly intentionally in order to become a better football player.
10 losers in a row is no control at all. Practically any idiot can do that. However not many idiots, if any, can come up with 10 winners on demand.
Cornix
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Ironically, it can be even more difficult sometimes.
Try to make 10 losses in a row using my suggested strategy of selling far OTM puts on SPY. Would be pretty difficult to achieve on demand.
Getting 10 winners in a row using that strategy is very likely, though, even in conditions of fundamental uncertainty and negativity we have in the last couple of years.
wackypete2
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deterioration at it's finest.
Peter
Peter
Depth Trade
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What/who is your avatar, I have been trying to figure out if it's from a movie or a picture of a bum.
1only
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He is a chinese homeless. I like him so much.
Check this out http://www.youtube.com/watch?v=-4txsLjgkWQ&feature=related
1only
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English vision http://www.youtube.com/watch?v=-Gg6LeQrzBI&feature=related
the hare
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One of the exercises I've done with people that I taught to make money is to get them to design a losing system. If you prevent them from obvious strategies such as instantly opening and closing trades to erode away the account in transaction costs, they really struggle. Transaction costs give them a huge advantage, but designing a losing strategy is equally as hard as designing a winning strategy (its exactly the same thing)
Its really funny watching someone unlucky enough to pick a winner, particularly if using high leverage
If you give them a simulator with zero transacion costs they really struggle
wackypete2
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Serious?
I should jump up and down, high-fiving my self for such a great loss?
You should accept them, NOT enjoy them.
Peter
Funny thing Pete you mentioned high fiving...
Can't remember where, but there is one trading place where they encourage traders to celebrate the losses (by applauding or similar action)
PS Probably it's to do with small losses - controlled losses.
wackypete2
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Strange, but I guess I can understand the idea there. Still, celebrating a loss isn't exactly going to boost anyone's confidence.
I can't remember ever being happy about a loss. It's part of the game though so you accept them and move on. The best I can remember is feeling relieved several times that I managed only a small loss in the face of bad circumstances.
Peter
DashRiprock
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my bad
