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To trade successfully based on discretion has
nothing to do with a high probability system
or great secret patterns - its all about "luck".
The "luck" to be a very hard drive person.
The "luck" to be a logical person.
The "luck" to be an open-minded person.
The "luck" of being not a person like to
screw with system trading.
All of the above are "luck" - if you are not
born with that, it is not likely you can trade
successfully with discretion. To summarize all of
the above - cut your losses and move on in realtime!
On the other hand, those who are less lucky but
thought that they are "logical" (most likely
have an "idea" from reading charts of some
"reliable" patterns) will keep trying to make
their own little secret trading system that will
hopefully make a killing from a tradable market.
Thanks to TradeStation's successful marketing that
molded the world into thinking they can test before
they trade, the world still does not have one single
open source system that can trade successfully
in a market without being "normalized" or
"discounted" in a few years.
90% of both camps fail - oooops, wrong number,
it is 99.99999% to be exact :)
I will repeat the same negative opinion that I
give to all newbies - give up before you lose
everything you have.
Great trading models and techniques from really
successful mentors are not available unless,
1. you pay up - good models are pumping money out
day in and day out, anything less than a few mil
is a joke if you want to see how they work. maybe
with a lease term you can get some decent ones at
$200K to $500K a year.
2. he likes you personally -
so you are "luck" because he knows you personally!
I think I answered the questions very indirectly :)
-Lawrence
--- Peter Hoon <phoon@xxxxxxx> wrote:
> Would welcome criticisms, disagreements, rebuttals,
> especially from Drummond
> traders, of the following impressions upon visiting
> the Drummond Geometry
> website (www.Tedtick.com):
>
> (snip all)
=====
Lawrence Chan http://www.tickquest.com
Innovative Analytical Software for Trading Professionals
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