“One way to make more money investing is to have good habits. But another is to simply get rid of bad habits…. Bad habits need to turn into Good habits over time in order to become a successful long-term investor.” – James A.
You can see the attached image…
The kind of scenario in the chart is no longer a rare occurrence in the markets
if you have been in the market for years.
And you can see James Altucher’s
quote above.
We often tell professional traders
to use stop loss and cut their losses: But they won’t listen.
We always tell pro traders not to
use big lot sizes per trade and not to overtrade. Even 0.1 lots are too risky
for 1000 USD: But they won’t comply.
We tend to beg trading gurus to
test their trading idea for at least 4 months or better, for up to one year or
more, so that they can see how their trading idea can withstand all market
conditions (including black swan events): But they will never obey. NEVER!
Why would you trade a demo for
only one or two weeks and then go live? Why would you use your live accounts as
a guinea pig project?
Your strategy will occasionally
undergo the baptism of fire and 95% of floored. Can your strategy survive
adverse market conditions?
I have seen a trader being moved from one prison to another, because of
losing clients' money. After he came from prison, his trading habits show the
same thing that led him to jail in the first place.
I have seen traders with many
years of experience, still blowing accounts, because they tend to trade the way
they did in the past, owing to undisciplined psychology. Give them another
chance again? They will blow the accounts again.
Some are heavily in debt because
of stubbornness.
Pros who have destroyed numerous
accounts over the years would be seen begging people here and there, for funds
to manage money. And if you ever give them any chance again, they will blow the
new funds.
Most experienced traders have
mental problems.
Why would you keep on doing what
is putting you into problems?
Your trading results show that
something is wrong with your brain, and you need to find solutions before it is
too late. The markets can ruin one’s life if one proves too stubborn.
As for me, I am a trading idiot.
I am a certified, pathetic, and
intercontinental idiot.
This is the reason why I don’t
risk too much per trade… My position sizing is very conservative and that has
worked well for me. I don’t blow accounts.
Because of my stupidity, I tend to
test a new strategy for at least one year, and I have seen how my super
strategy can withstand all market conditions and I am happy.
I don’t argue with the markets or
rely on hope. I know the market is opaque and the next movement cannot be
predicted.
Since I am a compound fool, a
universal fool, I use optimal stop loss always and I even cut some losses
before the stop is hit. I let my profits run.
My foolishness has enabled me to
reach financial freedom because I have a strategy that can withstand all market
conditions (developed from over 15 years of experience). It can make money in
all market conditions. The strategy is the simplest strategy I have ever seen
because even a moron like me can trade it (and a monkey can trade it). It
suffers minimal drawdowns in adverse markets and bounces back quickly.
I not only survive the kind of
market condition in the image above, but I also jump back quickly and make
money within a short time, owing to my stupidity.
And on the other hand, wise,
intelligent, and sensible traders are blowing accounts.
Doing the right things pays (cut
your loss and risk very small), and permanent success is possible.
Make money in bull markets, bear markets, sideways markets, and during
unusual, unexpected events.
I am a living witness.
Kind regards.
To see our current rates, please visit www.ituglobalfx.com.ng
To fund and withdraw with Neteller, please visit: www.instantforex.com.ng
No comments:
Post a Comment