thread: Do you still believe in the perfect trading system?

96544

However, you can never know the result of your choice in advance.

Absolutely.

Knowing when to quit while ahead is exactly what separates the winners from the losers in gaming and in gambling.

But this doesn't agree with above quote.

My idea is, maybe yours also, letting winners run by letting the market make the decision for me by taking out a trailing stop. Unlike the majority of traders who shout when their broker strikes their stop.

And also having a first hard stop for almost any losing trades so they do not'run'.

96544

I answered previously that the sole Holy Grail is in the Monty Python film of the same name.

Trading correctly, profitably, always is my goal, not grail.

My apologies

Z

96544

Absolutely.


But this doesn't agree with above quote.

My notion is, maybe yours too, letting winners run by letting the market make the decision for me by carrying out a trailing stop. Contrary to the majority of trades who scream when their broker hits their stop.

Along with having a first hard stop for any losing trades in order that they do not'run'.

Indeed!

96544

Automated trading progr fail because they do not know how to disrupt or remain abreast of breaking fundamental news. The market is far too HUMAN for almost any basic lines of codes to MASTER. A trading egy involves logic in addition to HUMAN INSTINCT, and intuition is tied into discipline.

Fair enough. Everybody appears to observe the method/MM/mindset balance. Let's not debate semantics; at the day's close, profit is the goal.

96544

, I'm not a newbie to this. I understand money management, although I'm probably not like you. If you do some figuring you and examine the functions of, say, Ralph Vince, or the Kelly formula can see that trading anything less compared to Kelly isn't optimal in money management.

I just do not understand why folks tend to complie something absolutely simple. I have yet to see any professionals utilize all these crazy MM formulations . It appears that you attempt to compensate for a system.

96544

I just don't know why people tend to complie something perfectly easy. I have yet to see any professionals use these crazy MM formulations . It seems that you attempt to compensate for a system.

A number of those pro-traders I know use variations of best MM within their trading, but nearly all think that Kelly is too aggressive.

It all depends on your strategy and whether each setup you enter , in your opinion, a 50/50 chance of succeeding or even better (or worse!) .

Different strokes for different people.

96544

Some of those pro-traders I understand use variants of best MM within their trading, but nearly all believe that Kelly is overly competitive.

Everything depends on your strategy and if every setup you enter , in your view, a 50/50 chance of succeeding or better (or worse!) .

Different strokes for different folks.

That's what makes trading trading.

96544experience
expertise
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that's it. Everything else falls under that. The only way to achieve success in the market is to gain expertise in trading. It will come to you. The toughest part is that you only have to have the ability to stay in the market long . And that's why most traders fail. Not because they are retarded, not because they will never learn how to trade, but because they weren't able to remain in the market long . If you trade for five or six years (minimum) you will begin to learn how the markets operate. You will eventually have the ability to trade from your knowledge.

All the indiors, fundies, technicals, systems, EAs, and all that other stuff is NOT going to make you profitable. Granted, a lot of it does function, but only and only at certain times . Your experience, knowledge, and knowledge , though, will be the items that make you profitable in the long term.

96544

experience
experience
experience
experience
experience
experience
experience
experience
experience
experience
experience
experience
experience

that's it. Everything else falls under that. The only way to achieve success in the market is to gain experience. It will come to you. The hardest part is that you need to be able to stay in the market long . And THAT is the reason why most traders fail. Not because they are retarded, not since they'll never learn to trade, but since they were not...

OMG this is magnificent!!! (standing ovation)

96544

should you trade for five or six years (minimum) you will start to learn how the markets work. You will eventually have the ability to trade off of your knowledge.

OK, I will bite. How can the markets work?

I know that once I enter a trade, if price moves against me, I could minimize the loss and if I'm lucky and price moves for me, I could take profit.

I can choose when I enter a trade, whether I enter short or long, my position size and my stop loss. Those are under my control. If I input a take profit order, the market may or may not reach it. All I could do is wait and watch.