JimmyMac wrote:jcpfx wrote:It took me many many many 14 hour days to study through everything, end up nowhere and then retrace back to the basics.
Yeah, but at least you're smart enough to realize that as far as trading (or betting) is concerned, less actually equals more
jcpfx wrote:I still think i'm nuts... "professional coin-flipping" is what i define myself as right now.

I like your attitude.....you'll go far!
welcome & continued good luck.
Thanks for the greeting Jimmy Mac

Gotta keep it real...
Let me share a story. In 2009 i was still working for a forex broker in Milan (before it was bought by a huge international retail shop thus transforming us all into sales representatives) and life was good. I had the opportunity to meet a successful private trader in his mid 60s doing very well for himself. He worked it all: stocks, bonds, FX, ETFs...and when I enquired as to what it took to become a successful trader, he said: capital and perserverance.
Then, as a sales executive, i was passed a big fish for the italian market: a former fx dealer turned money manager and finally private trader in his late 40s. I went to his house and found an old computer, just fancy enough to run the trading station. 1 screen. Huge volumes and huge capital. I ran some statistics on the guy some time after:
84% profitable trades, average looser 1.5 times his average winner. He traded day & night...in love with UsdCad for some reason (i'm canadian and i still don't see the attractiveness in UsdCad -_-). He was my model.
He said you have to be well capitalized and determined...and that there's no certainty of anything. You must feel the market and survive long enough to understand it.
I asked him to tutor me...he refused.
I have since met (in person) 2 other traders that live on trading and nothing else. That's about 1% of everyone i've met in this world.
So when I say "professional coin-flipping" i mean it...i hope for the best and try not to break my rules...but i also expect the worst. Trading is about damage control...when you get in and price flies merrily away it's (apparently) easy. Sit tight and pray. But when you get in and things don't go as planned, your stop loss is your best friend. So you take the psychological hit and have to get back up quickly.
I think many can share similar stories...it's just been so long since the last time I have spoken to other traders

See ya all tomorrow!