Questions for the pros

DionysusToast said:
Care to point out which parts are nonsense Howard?

Or would you prefer to just proceed with the terribly unsophisticated ad hominem attacks whilst simultaneously claiming to be here to learn something through the process of debate?
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Saying you are an idiot (which I do not believe) is an ad hominem attack. Saying you do idiotic things is not.

But then, I suspect, you know that. This is just for those that don't. We would not want to mislead our audience.

I shall return shortly to comply with your request.
 
DionysusToast said:
The interesting thing about trading - it doesn't give 2 hoots for your strengths.
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Sorry to interrupt but did I just read this right?

I must have got the wrong end of the stick because at first glance this looked like the most ridiculous post I think I have ever had the misfortune to read.
 
trader_dante said:
Sorry to interrupt but did I just read this right?

I must have got the wrong end of the stick because at first glance this looked like the most ridiculous post I think I have ever had the misfortune to read.
Click to expand...

Yes - you read that correct.

If you are a hard-ass managing director with 5000 people working for you - trading doesn't care.
If you are a maths whizz who thinks he can mathematically resolve the markets - trading doesn't care.
If you are a physics pro who things DSP techniques should be applied to the markets - trading doesn't care.
If you are a martial artist who can crush all that stand in your path - trading doesn't care.

The skills and strengths that got you through life BEFORE trading are fairly irrelevant when you start trading

Many of the skills that made people a success in the real world will work against them in the trading world.
 
HowardCohodas said:
Saying you are an idiot (which I do not believe) is an ad hominem attack. Saying you do idiotic things is not.

But then, I suspect, you know that. This is just for those that don't. We would not want to mislead our audience.

I shall return shortly to comply with your request.
Click to expand...

NORTON.gif
 
it is really bad that you didn't find an edge after so long time
maybe you haven't understood the trading system well
a very important system you should know
 
DionysusToast said:
Yes - you read that correct.

If you are a hard-ass managing director with 5000 people working for you - trading doesn't care.
If you are a maths whizz who thinks he can mathematically resolve the markets - trading doesn't care.
If you are a physics pro who things DSP techniques should be applied to the markets - trading doesn't care.
If you are a martial artist who can crush all that stand in your path - trading doesn't care.

The skills and strengths that got you through life BEFORE trading are fairly irrelevant when you start trading

Many of the skills that made people a success in the real world will work against them in the trading world.
Click to expand...

Apologies. I had got the wrong end of the stick and thought you meant something else.

I was thinking more that people already have certain characteristics that will translate into strengths and weaknesses in the trading arena when applied to certain edges.

For example: if you are, as you say, a martial artist, the market doesn't care. But if part of what makes you an excellent martial artist is that you have the reaction speed of a supercomputer, this is a strength and because of this there may be a style that is more suited to you than other styles. So in a roundabout way, I think trading does care about this.
 
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Yup - market doesn't care about your strengths - but it will sure find a way to find your weaknesses...
 
DionysusToast said:
The skills and strengths that got you through life BEFORE trading are fairly irrelevant when you start trading

Many of the skills that made people a success in the real world will work against them in the trading world.
Click to expand...

Wow! Do I ever disagree with that.

People who are successful in many domains frequently have traits that enable that success. I think that will, focus and discipline are frequent attributes among successful people and transfer well into trading.
 
DionysusToast said:
NORTON.gif
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Sorry "soon," was not soon enough for you.

Besides trading for a living, I am also
Participating in several trading forums
Participating in several gun forums
Developing an ECT (Education, Training, Coaching) Program
Writing an article on developing a trading Dashboard
Editing my upcoming book
On a committee of my synagogue that consumes about 25 hours a week​

I need some sleep, but shall return to your assignment soon.
 
If learning to read charts without indicators after getting handle on the basics, the next stage I think is trader psychology. It's not just about drawing s/r lines on a chart. There's a lot of guff written about psychology and discipline but for me it boils down to if I can see someone elses profit, I can see future loss and a way to profit from that. I'd start thinking along the lines of 'if I entered here, when would I start getting fearful and what would I do?'
 
HowardCohodas said:
Sorry "soon," was not soon enough for you.

Besides trading for a living, I am also
Participating in several trading forums
Participating in several gun forums
Developing an ECT (Education, Training, Coaching) Program
Writing an article on developing a trading Dashboard
Editing my upcoming book
On a committee of my synagogue that consumes about 25 hours a week​

I need some sleep, but shall return to your assignment soon.
Click to expand...

You have been trading for 3 months & are writing a book on the subject and are about to tell people how to put their money into the markets.

I sincerely hope not too many people are hurt by your hubris.
 
HowardCohodas said:
Wow! Do I ever disagree with that.

People who are successful in many domains frequently have traits that enable that success. I think that will, focus and discipline are frequent attributes among successful people and transfer well into trading.
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Howard, once again you are talking out of your bottom.

The reason the majority of traders lose money is due to certain cognitive biases. These are inside all of us, and are not related to "will, focus and discipline".

For example, recency bias. The stock was trading at $50 yesterday, today it's at $47 therefore it's good value (many retail punters bought Northern Rock on the way down for this very reason).

Loss aversion bias. The pain of skipping a trade and not having made $100 is the same as that felt when taking a $50 loss, even though skipping the trade is a de facto $100 loss (in monetary terms, this makes no sense).

Sunk cost bias. I'm long at $47, it's now at $44. I can't sell because that locks in the loss. I'm better off sticking with it, or maybe buying MORE and improving my average.

One of our overriding desires is to be right, so we look for trading strategies with high win rates.. these are strategies with a large number of small winners and the occasional blowout (e.g. selling options). It's cutting your winners/running your losers, a sort of LTCM style of trading.
 
HowardCohodas said:
Besides trading for a living, I am also
Participating in several trading forums
Participating in several gun forums
Developing an ECT (Education, Training, Coaching) Program
Writing an article on developing a trading Dashboard
Editing my upcoming book
On a committee of my synagogue that consumes about 25 hours a week​
Click to expand...

Ah, that explains a lot.

Also, ECT, or ETC?
 
meanreversion said:
25 hours a week on a synagogue committee, yikes! How do you stay awake..
Click to expand...

I'm on the committee to select a new Rabbi. Study resumes, create questions, conduct first round and second round phone interviews...

No problem staying awake. It's just my head hurts after a full day of trading, dialogging on this forum and being creative late into the evening on the committee. I can't say no to a challenge. But I am exhausted lately.

And my wife complains I haven't been keeping up with my homework lately. Mentioned something about my choice of priorities. :eek:
 
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