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Do we have no chance?
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Do we have no chance?

  #21 (permalink)
Elite Member
Toronto , Ontario, Canada
 
Futures Experience: Beginner
Platform: Sierra Chart, SC
Favorite Futures: Emini ES, CL, USD/CAD
 
Posts: 284 since Jun 2016
Thanks: 776 given, 267 received


mpxtreme View Post
Donate 1/2 of your allocated trading capital to a worthwhile cause...take the other half and walk away.
Oh and for obvious reasons don't listen to brokers who suggest that you can make it.

If you still want to stick around...prepare to be "feed" for a few years and IF you make it consider the following before you decide what to study.

Nearly every trader has the market moving a few ticks against their entry 90% of the time before it continues in the intended trade direction even of the winning trades...who's taking that $? Your losing trades are extra bonus

HFT isn't on a different time frame,they're in all time frames...just a different thought process.

Thanks for your input mpxtreme, however I'd like to disagree on a few point of yours. Yes it is true that 90% of the traders fail and largely in part is due to lack of knowledge and PRACTICE. I am at the moment part of the 90% for sure, but i can cut my learning time (not learning curve, but time) because I have access to this wonderful forum and here traders positively help each other.

So let's continue this positivity towards each other rather than coming in with a condescending reply as to why I will not make it and what I should do with my capital. I don't think it will take me years to become profitable, but surely a year and half to learn and develop from my mistakes.

Don't put people down (me and others) cause you know more or have had success, after all you were born with a clean slate, you were in my shoes at one point.

I don't want to offend you but I feel putting down anybody isn't helping at all nor is the topic of this thread..

But thanks for your time and input, I appreciate you taking out the time to at least reply to my question.

Best,

John

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  #22 (permalink)
Trading Apprentice
New York
 
Futures Experience: Advanced
Platform: IRT
Favorite Futures: Piano
 
Posts: 43 since Dec 2013
Thanks: 2 given, 31 received


noobforlyfe View Post
Thanks for your input mpxtreme, however I'd like to disagree on a few point of yours. Yes it is true that 90% of the traders fail and largely in part is due to lack of knowledge and PRACTICE. I am at the moment part of the 90% for sure, but i can cut my learning time (not learning curve, but time) because I have access to this wonderful forum and here traders positively help each other.

So let's continue this positivity towards each other rather than coming in with a condescending reply as to why I will not make it and what I should do with my capital. I don't think it will take me years to become profitable, but surely a year and half to learn and develop from my mistakes.

Don't put people down (me and others) cause you know more or have had success, after all you were born with a clean slate, you were in my shoes at one point.

I don't want to offend you but I feel putting down anybody isn't helping at all nor is the topic of this thread..

But thanks for your time and input, I appreciate you taking out the time to at least reply to my question.

Best,

John


My apologies...my comments were not intended as condescending.I was in your shoes once so yes I'm speaking from experience. I said IF you stick around...to consider what I said before you embark on what to study and develop as your edge.You will reduce the learning curve considerably...years.In other words the more you learn the more you'll realize how little you know.It's an never ending deep can of worms.

You misunderstood or misquoted... I never said 90% of traders lose.

The topic of this thread was related to algos and HFT and that is what I addressed.

I'll repeat in a different manner... ask any trader in this forum if the market moves a few ticks against their entry in their "winning" trades 90% of the time...there are traders on the other side for those few ticks...

If you understand what I'm saying you'll know what to study and what to stay away from.

Goodluck!

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The following user says Thank You to mpxtreme for this post:
 
  #23 (permalink)
Elite Member
Toronto , Ontario, Canada
 
Futures Experience: Beginner
Platform: Sierra Chart, SC
Favorite Futures: Emini ES, CL, USD/CAD
 
Posts: 284 since Jun 2016
Thanks: 776 given, 267 received



mpxtreme View Post
My apologies...my comments were not intended as condescending.I was in your shoes once so yes I'm speaking from experience. I said IF you stick around...to consider a few facts before you embark on what to study and develop as your edge.You will reduce the learning curve considerably...years.In other words the more you learn the more you'll realize how little you know.It's an never ending deep can of worms.

You misunderstood or misquoted... I never said 90% of traders lose.

The topic of this thread was related to algos and HFT and that is what I addressed.

I'll repeat in a different manner... ask any trader in this forum if the market moves a few ticks against their entry in their "winning" trades 90% of the time...there are traders on the other side for those few ticks...

If your understand what I'm saying you'll know what to study and what to stay away from.

Goodluck!

Hello,

I'm glad we are able to talk out any confusion to clear any misunderstandings on my part. Thanks for the advice. Forgive me, I mean no harm.

Best,

John

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