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I completely agree. Most traders overestimate their skill.
Easy example to understand that most people can relate to is playing competitive computer games. However good or knowledgeable you are about the game, play one game against a professional player and he will completely dominate the game. Their understating of the meta game completely differs. Professionals pay attention on things you might not even consider.
Every day we trading against people who understand risk better, implement better models, have deeper pockets, better infrastructure, better access to quality data.
Thanks fort the reasonable advise! In retrospect, I see where i was irrational. Yet, remains that all trades and positions are watched by big houses. If i can see depth of Level I & II, they can see probably even how much $$ I have, how strong am I to sustain a move against me, or a number of traders. And certainly, wild M, as we had seen lately, has no issue by swinging 10-15-20 pts (ES) to run and destroy those accounts. Also, it remains, that if one is very very Correct- then the M will reward him. I say, very, very because 1 in that case (with small account) needs to be right 2 or 3 layers. The algos, in such wild M conditions, would need to already clean up and destroy quite a bit accounts, satisfy their "appetite" (make gains), and already do that probably 2-3 times- then: 1 can get on with the Correct Flow. My limitations lately, has been that I started to watch the M from a position of 'regaining back my loss'- so I lost the Flow, Unburdened Intuition and Patience. Plus, I violated some of my own rules: and that deserves Punishment!
As I sober out, I still think we are watched and manipulated, that there are hooks, flushes, clean ups, shakes, stop-runs, etc... but 1 can still trade well and cautiously in those conditions. Even profitably. Its a State Of Mind that i slipped from recently. But the conversations had been critically sobering to me as to what is and should be my Job on the M. Thanks to all!
This is just not true, and I'm stating this to prevent the spread of more misinformation. No one can see your account size, and they have no idea where your stop is (you, individually). I can guess logically where stops are, because I understand the psychology of the collective. And more sophisticated algos certainly can make very very good guesses. But I have ZERO way to know where your stop is, that you have one, what your position is, or that you even exist.
This is a positive attitude to have. When you begin to shift the mindset from "they are out to get me" to "they are out to get some people--now how can I get a piece of the action," then you are releasing the ego. This is a "if you can't beat 'em, join 'em" mentality, and it's necessary for survival. There is no reward, or morality, in siding with the weak who will lose money, because you will have the same fate. In a battle for survival, do you side with the weak who are about to get slaughtered for some self-righteous feeling of virtue, or will you side with the winners, and live to fight another day? In real life we would stand up to forces larger than us if family, spirituality, or some other higher purpose were at stake. This is not the case here. It's trading. It's money. Take the money from the weak, or be one of the weak, it's our choice. (It sounds so seriously savage and I don't mean it to, but it's really just reality)
Finally a reasonable person here- although he thinks he is facetious. Yes, I was feeling they were after my $600. And after many thousands of $600-ts accounts. And they do it just as an aperitif. Because they can. If I had millions and B$s, I would do the same. Clean up the Plankton- then head for the real meal.
Of course, fractally speaking, so many TimeFrame participators makes the game confusing even more. One can make Money countertrend and loose while "being Right" if the account size get critical or terminate by fear. This is a vast ocean filled with wild Beasts. Derby Demolition. Eat or get itten. I also want to take your money- is the name of the game. So I understand that there is no sympathy here.
I was so stupidly naive at a point that i could not get it, why did the M needs to go 10 pnts down, to just head another 50 up. Or the opposite. But, Now I Know: they are after my little $. There is no little or big $. Lots of retail little $ is a lot of $- daily. That's why it has to be like that. Ridden with traps and dangers.
I'll just need to reevaluate my way of involvement and thinking here. I had many times good profitable runs- then they stop working. And i haven't learned well how to take and deal with losses- in a constructive sustaining manner. Adapting to different conditions is the hardest for me. Probably for most. Peace!
Like futures, CFDs are derivatives of the underlying products, including indices, the only difference being that CFDs are offered by OTC market makers, i.e. bucket shops who take the other side of your trade mostly betting on their "clients" being losers in the long run.
