Yeah I agree w/ Wayne F. Though I am hesitant to comment on what you guys are doing. I stick to what I know.
SB you also said you guys are perfectionists, For me perfection is a vice I can't afford.
I'm not one to pick tops and bottoms. Buffet said it best: "We are not here to profit from change, but rather from lack of change".
The truth is the more we trade the more we will be wrong and have losers. And of course the more winners as well. I used to hate losing but realized that's silly on my part to let my emotions stress me out over it.
The last couple of years have been great because I have made money both long and short euro futures while maintaining a long dollar investment. What I have learned is priceless. But only so because I have a method I have forward tested and traded for many years. I know the risk of not being a successful trader for me comes from not trading. The last couple of days in the Euro is a great example. In this 60-min chart I have 3 retracement levels drawn -- support. I don't know ahead of time which might hold but I have a good idea one will because the majority of tradable patterns are up. In this case the 10, & 25-day patterns were up, with the 5-day down. The one thing I know for sure is I'm more likely to have a winner than a loser from buying a dip in this environment. I also know my risk before I take the trade.
Trade 1 marked by the first green line at 110.50 proved a small loser. If I do not take the next trade(s) I know for sure I won't win. The second green line at 110.22 provided 2 winners. That first loser was like throwing change in the lake to pay for the fish before I caught it.
The bottom line is I know the performance of the method ahead of time thanks to many years of real time testing and trading. And the method is always the same.
Bill Williams taught me that markets, like water, always follow the path of least resistance and we should too. When I mention "the path of least resistance" to a lot of people, my wive included, they think that is something "lazy" people do. Well better to be a lazy winner than an over-worked loser. Of course my wife reminds me of how much time I had to put in to finally figure things out and then to adapt the matching mindset.
hey, I'm actually warming up to teaching again. It was great to take the summer break, and it will be great to get back into the live meetings.
