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In general I would say no to the first, yes to #2 and #3. I go through and take the ones I like from here every now and then and add them to the front page, but the thread still has its purpose stand-alone, so just keep 'em coming.
If you can't tell what the market is doing ... don't do anything.
If what you do is working ... keep doing it.
Price is gonna do whatever price is gonna do ... no matter how many indicators you have on your chart.
No matter how much work you put into developing your system, if it takes you 5 minutes to make a decision and you are trading on 3 minute bars, you probably won't be successful.
If you can't make money paper trading, you can't make money live trading.
Just because you can make money paper trading , doesn't mean you can make money live trading.
How hard can it be... the market only moves 3 ways... up , down, or sideways.
If you can't make money trading 1 contract ... how is trading a 100 contracts going to help.
Listen to other traders, regardless if they know less than you.. even a blind hog finds an acorn occasionally.
Line from Woody Allen Movie...
I'm a financial adviser, I advise people how to invest their money until there is none left.
Not a one liner ... but I laugh every time I read this. I framed it and hung it in my office.
Andrew Lahde, founder of Lahde Capital Management, a hedge fund that earned 870% in 2007 by shorting the type of mortgage backed toxic instruments that have left large institutions at the Fed's doorstep tin cup in hand announced his exit in October and thanked those who allowed his success: "The low hanging fruit, i.e., idiots whose parents paid for prep school, Yale, and then the Harvard MBA, were there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns, and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy only ended up making it easier for me to find people stupid enough to take the other side of my trades. God Bless America!"
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
I don't trade for excitement; I trade to win.
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Risk is a no-fooling-around game; it does not allow for mistakes. If you do not
manage the risk, eventually they will carry you out.
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If you don't take a hard look at risk, it will take you.
I was once interviewed by a reporter from the London Times, who asked me what I
thought about the future direction of the London cocoa market. I told him, "Frankly,
I don't see markets; I see risks, rewards, and money."
No matter what information you have, no matter what you are doing, you can be wrong.
I have a friend who has amassed a fortune in excess of $100 million. He taught me two
basic lessons. First, if you never bet your lifestyle, from a trading standpoint, nothing bad
will ever happen to you. Second, if you know what the worst possible outcome is, it gives
you tremendous freedom. The truth is that, while you can't quantify reward, you can quantify risk.
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