Interesting Insight

Since trading is the chief activity I engage in from an economic perspective and speculating about macroeconomic is beyong my ken ... this blog is going to evolve a little into some really nitty gritty stuff about trading the markets.

I had been running a detailed about trading in an investor community that I will be leaving soon (I think) so much of tht content will be coming over here.

This is an interesting tidbit that someone posted over at elitetrader.com . There's a lot of a-holes over there who claim to be hotshot traders while they are really blowhards who've never placed a trade in their life. But every once in a while someone chimes in and I just know they are real deal.

I am sure the mindset of a newbie has not changed since I started 29 years ago, trying to make methods that have the greatest profits. Greatest profits equal huge drawdowns much more risk. I spent years trying to make this tougher than it is, forget about redesigning the wheel. I now concentrate on lowest weekly losing percentages, how to get to a breakeven stop as quickly as possible. I trade for breakeven all day long, then it is a risk free trade and the market will say when I get money. I don't try to beat the market, I let the market give me what it feels like.

Controlling losers as a focal point and letting the market provide the winners from a risk free position .... I could get better at that.