Statistically Infallible
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Thread: Statistically Infallible

  1. #1
    Hi there trading individuals, I am glad to be here at this fine forum. A lot of things to be learnt here. Smart people, mad people, dumb people, arrogant people; it, they are here on forum.

    A bit about me personally. I've been trading for approximately 5 years, started circa 2010. Failed numerous times.

    After all these years I am still not as good as I would like to be. I can't appear to have full control over myself when executing trades. Regardless of that, I've made a substantial breaktrough in trading and outcomes are spectacular.

    If you ever wish to be successful in trading you must earn a system that's consistently profitable in past historical data. Market doesn't really change its terminology (how it moves), they simply alter their range.

    Right now I have already passed the first hurdle which is comprehending the'language' of the market but I am still on the borderline when it comes to mastering myself into executing. The following problem I have is not having enough sleep. I have this unquenchable thirst for understanding and I think I have to be more disciplined. Frequently I would make easy errors and missing chances if I do not have enough sleep.

    Trade Journal
    Three account with different risk of the same trading style. I only listed two as that's the maximum on forum. Another one could be viewed on my profile.

    Risk 2.5 percent - High Risk
    Risk 1.25 percent - Moderate Risk

  2. #2
    Quote Originally Posted by ;
    Do you teach how to exchange? If so, how much does it cost ?
    I'm sorry I do not teach everyone to trade. There are simply too many variables. Just 1 thing, however, never pay anyone to teach you how you can trade if they do not have commerce explorer/myfxbook as a proof. There are many scammers out there. Be mindful.

    This thread is more about documenting my errors and perhaps inspire others. Lets see what next week will bring.

  3. #3
    I believe to maintain the upper echelon of successful traders needs an innate ability, a gift. It's like being a great violinist. But for a competent trader and earn money is a skill you can learn. -- Michael Marcus


    ” If you do not stay with your winners, you are not likely to be able to cover the winners” -- Michael Marcus

    You are able to risk 1 percent of your capital, you can risk 5%, or you'll be able to risk 10 percent, but you better realize that the more you risk, the more volatile the outcomes are going to be. Ed Seykota

    Really best traders do not think twice about how many hours they are working or whether they come in on a weekend. There is not any substitute for that degree of commnt. - Bill Lipschutz

    It isn't that we had any unfair knowledge that other people did not have, it's merely that we did our homework. People simply don't need to feel that everyone can break apart from the audience and rise above mediocrity. -Paul Tudor Jones

    From -http://tradingwisdoms.com/

  4. #4
    It's better to be sure that you are likely to be financially liberated than fretting about the wealth which never came. As for that, I opt to go the slow but sure manner. There's no need to become greedy and dumb.

  5. #5
    The market moves due to orders executed. Your job is to understand when and how the important orders are implemented. The chart reveals it clearly but most just can not see it.

  6. #6
    Observation, experience, memory and math these are exactly what the prosperous trader must depend on. He must not just observe accurately but remember always what he has observed. He cannot bet on the unreasonable or about the unexpected, however strong his private convictions might be about guy's unreasonableness or yet certain he may believe the unexpected occurs quite often. He must bet constantly on probabilities that's, try to anticipate them. Years of training at the match, of continuous study, of constantly remembering, enable the trader to act on
    the instant when the unexpected happens as well as when the anticipated comes to maneuver.

    A guy can have good mathematical skill and an unusual power of accurate monitoring and yet neglect in speculation unless he possesses the expertise and the memory. And then, like the doctor who keeps up with all the progress of science, the smart trader never ceases to examine general conditions, to keep track of developments everywhere that will probably impact or influence the course of the various markets. After years at the game it becomes a habit to stay posted. He behaves almost automatically. He acquires the invaluable professional mindset and that enables him to conquer the game at times! This gap between the professional and the amateur or occasional trader cannot be overemphasised. I find, for example, that memory and math help me very much. Wall Street makes its money on a mathematical foundation. I meanit makes its money by managing facts and figures.

    There's nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

    -Jesse Livermore(Reminiscences of a Stock Operator)

  7. #7
    It took me five years to learn to play the game intelligently enough to make big cash once I was suitable. - Jesse Livermore(Reminiscences of a Stock Operator)

    Jesse Livermore took five years to get it right. I took five years too. Therefore in my opinion, I would say it would take on average of five years of studying before a trader could make it. The degree of the success however, varies. Some would get 1% per month, a few 10 percent and a few would get more than what many think is potential until they started to impact the price, then they would need to resolve that, most likely through relationship trading but that also is finite.

  8. #8
    Quote Originally Posted by ;
    Hey, Nice thread, and great results. I know exactly what you mean without having enough sleep... I have a tendency to overdo my scalps as well, after which I start making mistakes. Good luck and thanks for sharing! K
    Yeah, have to be more disciplined and have my good night sleep. Thank you kprsa for the words.

  9. #9
    Hey fishme231,
    Nice ribbon, and fantastic results. I understand exactly what you mean without having enough sleep... I tend to spoil my scalps also, after which I start making errors. Fantastic luck and Thank you for sharing!
    k

  10. #10
    Do you teach how to trade? If so, how much does it cost ?

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