And yet you fail to make the correlation ==================== Until one can manage self - they could have a gold mine of a strategy in front of their face - and never know it..., never be able to exploit it Methodology will never a successful trader make Traders make whatever methodology (so long as it is reasonable) successful Agree whatever methodology one chooses - should also mirror that trader's personality ================ Said it before..., saying it again Give me any ole reasonable strategy - I'll make it profitable RN
No.1 habit for me is turn off all distractions and focus on trading only. Trading is a 9-5 job. I print out an economic calendar also so I know when major releases are scheduled.
@Redneck, have to agree 100% with you. There are a million ways to make money in whatever markets you choose. What profitability comes down to is the mental fortitude and knowledge of thyself that an individual trader has. Just think about all of the strategies there are in stocks, Forex, futures, etc. and how many different individuals you may know or know about who have made a profit using a strategy specific to their respective market. Then think about all of the people who attempt to replicate or follow the profitable traders strategy only to have it blow up in their face time and time again. It is obvious those traders have yet to discover that this business of trading, just as I believe any other business really is at the end of the day, is one of psychology and personal awareness. Of course, as you stated there is a need for a reasonable strategy, but that is really the least of an individual's trading worries.
This is something with which I strongly disagree. Someone would not even know if they could exploit it because many people will never have a profitable strategy. Let me preface by saying I am not accusing you of doing this. Really, that is something that scammy "teachers" say because their systems don't work and the buyer isn't make any money. Rather than say the system doesn't make money, they give a ton of other reasons.
By not having a profitable system, none of the other aspects even matter. It's like giving someone an outdated map and then saying they got lost because they don't know how to follow directions.
What profitability comes down to is having a good system. I doubt there are a million ways to make money by the markets. Most of the strategies don't work. It's like they used to say in martial arts, it's not the art, it's the person. Except it is the art, and mixed martial arts competitions determined which ones were best. Brazilian jujitsu and muay thai consistently won. Kung fu? Lost. Tae Kwon Do? Lost. Aikido? Lost. Kung fu? Lost. Savate? Lost. Hapkido? Lost. Then, applying your concept, it must be that the right people happened to train BJJ and MT because there are so many martial arts out there and every one can win. Those same people would not have been victorious if they had studied karate, or kung fu, or tae kwon do, or aikido, or savate, or hapkido, because the techniques are different. They were battling the best people in the world. They need the best techniques. For someone who is trading, they are struggling against the best people in the world. You need a profitable system. Saying any system can be profitable when you are competing against the best in the field is just as much nonsense as saying any style can be victorious when you are battling elite opponents. I'm sure MACD would work if everyone trading was a fool and you didn't have people with better skills and tools spoofing everything. Clearly, it takes the right kind of person studying the right art, like with trading it takes the right kind of person, and that person needs the right system. I am amused by these threads that so casually suggest that it's easy to make money with any system. The concern must be that all the traders out there don't have the right psychology for it. Not making money has very little to do with any business aspect of trading. It has to do with not having a useful method. Business is like, don't spend more than you make, be focused, stick to your plan (which has to make money), buy a good computer, make sure you have a way to start orders if your internet goes down. These threads are like the kind of mood lifting nonsense you read in making money books. It's full of stuff suggesting that it's easy but you're never given a method that works and if you are given a method, it doesn't work, but that's never mentioned and you are given a big list of reasons to keep you occupied rather than looking at the system. Here let me state it plainly. The most important factor in trading is having a good system. Not having this, it does not matter what else you do because you will not make money. Second is being able to follow the system. Third is all the other stuff, like being focused on your work, having the right technology, continually learning, etc. It constantly amazes me how people don't understand this.
Good methods dont make themselves or get handed over. Pearls are not useful to swine, as they will get crushed and get trampled on. Good method and business of trading start with the mindset, not necessarily psychology (overused and misused term in trading). Not sure what the purpose of this thread is. Is it to complain or validate some opinion / bad experience? Buy&hold still easy and mostly working. The right mindset can build on that. Was surprised to see recently that MACD may be made to work (ET has an old thread on it). You can argue about hypothetical systems you never get to see, continue to see only black and white or insist on correctness. Or start making good choices and improve.
For me, its all about concentration and focus. If I do that well, I make good trades and very few errors.
Whether you agree or disagree - not my concern You're using "profitable strategy" as a security blanket - learn to be a trader and stand on your hind legs btw..., feel free to provide any ole reasonable strategy w/ commensurate rules - and let's just see if I can trade it profitably My hind legs work just fine RN