I have multiple charts posted proving it lol... Perhaps spend less time writing and more time reading
Hello p0box4, I agree with you 100% for certainty. I studied Al Brooks as well and didn't even finish the course, but he said a few things that help my trading. No need to study him anymore. @padutrader problem is he is trying to be a Perfect trader and master of price action. He is forgetting he STILL has to take everything he knows and become consistent profitable trader. Notice in ALL @padutrader post he never talks about a trading plan or how he will be consistently profitable for the next 20 days. Al Brooks does NOT teach traders how to make money trading. He teach price patterns. That is it. And this is the part @padutrader is struggling with. He need to stop learning and start planning how to make money in trading.
He would be doing much better if he didn't trade multiple minis on an account with a $1000 daily loss limit. I've told him many times before, but he always knew better, I think even he himself lost the count of accounts blown up since then, but hey, what do I know ...
Reminds me about Van Tharp's position sizing game, written about in his book Super Trader. The takeaway was, everyone played the same expectancy but chose their position size depending on what they wanted: 1. Preserve their capital and come out ahead, barely (this is how I trade, essentially) 2. Step on the gas and add size when they're going thru a winning streak (equity curve trading, my new challenge) 3. Gamble big, and GO FOR BROKE! The ones who did best were of course, the few survivors of method 3. The rest of the gamblers got wiped out immediately.
Most self made billionaires had a a scalable edge funded by issuance/VCAP; some sort of cap-mkts funding. Either arbitrary pay for performance in the c-suite or self made, but *ALL* through anti-martingale. They all parlayed. A perfect example would be that degen Saylor. You guys grinding with no edge is employment-avoidance. "Working from home" only works if you're earning a large fraction of your value. The problem is that most of you are unemployable so it's an edge in itself/asym-risk if you can grind and scrape by. The issue with being hobbyists is that you're paying the house edge in futures and comms and you're hard-wired to dump winners ASAP. Your limbic brain knows there is no edge there so ofc you're going to book a winner as soon as it prints. Develop and edge and your PFC will allow you to ride winners/cut losses.
Another example would be Musk. SpaceX was brilliant? Anyone here could poach a team of engineers with an unlimited budget. He sucks operationally (example, server farm relocate; gutting of Twitter), but the dude parlayed PP stake.
Good Evening poopy, Can you please explain what anti-martingale means and how anti-martingale is used in trading? I never heard of anti-martingale before. Thank you,