So true, and by the time they realize it, they have already crossed the risk of ruin threshold. I realized early enough that I am not artist, I don't have that discretionary sense, so I rely purely on the stats, the expectancy of my purely mechanical copy/paste method.
The following 2 users say Thank You to monpere for this post:
There's definitely more than one way to skin a cat.
I'm obviously biased because I didn't make it too far with the mechanical approach.
I'm mechanical in the sense that I stick to the same setups but I starting using them
through my own discovery of trial and error. It's still not perfect and I do take some whacks.
It seems I have amazing months and then other months I can't seem to get in the groove.
With your copy and paste method, did you take something and make any part of your own;
or is it completely copy/paste?
The following user says Thank You to Massive l for this post:
i know this question wasn't directed to me, but i love this stuff and had to respond.
here's my thoughts:
1. there is nothing new under the sun;
2. most of what i discover/invent is later shown to be a re-discovery; hence, copy-paste;
3. the uniqueness of my method/system is the particular arrangement/combination of the various non-original parts/concepts that i have re-discovered;
4. thus the "art" is in my arrangement of the parts that i "copy/paste".
The following user says Thank You to eman for this post:
Also, the pyschology part is not so impossible if you have a decent handle on risk and expectancy. Not as if you need to be a celebate buddhist monk in order to trade. However, even a celebate buddhist monk will not be able to make money over any real sample with poor risk management and a system with negative expectancy.
I don't disagree with the copy/paste statement but there is an infinite number of wrong paths also if you just are doing something different because other people are not doing it. I don't know anyone that actually flips coins at 11:00am, heads-long / tails - short for 10 YM points with a 9 point stop. The fact no one is doing this does not increase the value of such a foolish method.
But in some cases Trader A wants Trader B's "template", all his exact indicators, exact settings, exact entry rules, profit targets, stop losses, etc -- then wonders why his actual results don't match....
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The following user says Thank You to Big Mike for this post: