Ten-thousand in Education and still not profitable! | Trading Reviews and Vendors


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Ten-thousand in Education and still not profitable!

  #205 (permalink)

Denver, Colorado, USA
 
 
Posts: 36 since Aug 2011
Thanks: 6 given, 17 received


bobbyacim View Post
First, something I would like to say to BIG MIKE;
Mike, I respect and greatly admire what you have built here, solely for the purpose of exchanging ideas, techniques and methodologies for the betterment of others like myself who are struggling with their trading, and for a lot longer than 6 years! Extremely Commendable Sir!

HOWEVER, wheather a method that I could devise myself would suit me better or wheather looking internally for answers is the solution, etc, etc..
I remain true to the main reason for starting this thread

IN 6 YEARS OF EXHAUSTIVE SEARCHING, I HAVE NOT FOUND ANY RETAIL DAYTRADER WHO UPON CLAIMING TO BE CONSISTANTLY PROFITABLE, CAN OFFER ANY CONCRETE PROOF OF SUCH. WHY?

Please understand I am strictly speaking about daytrading. Because swing trading and longer term is different, with these longer timeframes, you are rising above the so-called noise. Although if prices are fractal, then it can be argued that the longer term charts are just a greater amount of noise.

ENJOY YOUR HOLIDAYS EVERYONE AND GOD BLESS.

The market being fractal does not mean its all noise. It just means its a chaotic system. At first glance, chaotic systems appear random, but in reality are so incredibly complex it may not be possible (as of right now if ever) to model it. I would recommend you look into some fractal trading systems, and study some rudimentary chaos theory. I don't know how good your math background is but a book that talks about fractal geometry and a little chaos that an undergraduate math, engineering or physics major after their first or second year could start with is :

Amazon.com: Customer Reviews: Fractal Geometry: Mathematical Foundations and Applications

People have been profitable, its just that most aren't wanting to share their secrets since once some "edge" becomes wide spread, many times it stops working. I worked on an account with a couple other people that made pretty significant returns over one year (around 37 percent) before the soon-to-be-retiree investor decided to pull it out and actually retire.

We used money management, stop-loss, take-profit's, etc. However the strategy was trading Forex, and it was before the US reduced leverage and made one use FIFO. Before, we could use hedging on singular currency pairs through the same account. Now the strategy wouldn't work. However, we basically traded using fairly standard indicators as well as support and resistance. There was also a healthy helping of fundamental analysis. I can't take credit for the whole thing because my role was split between a programmer making indicator modifications, etc., and also doing technical analysis and we would reach consensus on our next move. It worked out pretty well since I was a math graduate student at the time, one of my associates has his MBA with undergrad in finance, and our other associate was a biology graduate student with a pretty good background in statistics.


Last edited by Antisyzygy; September 7th, 2011 at 06:40 PM.
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