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mwtzzz

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Everything posted by mwtzzz

  1. The only metric that matters is the P/L statement over the entire lifetime of a trader. Impressive gains over a two or five year period matter nothing if subsequent losses erase those gains. Consistency is the most important factor.
  2. Whatever money you plan to fund your account with should be earmarked for "disposal." It should be money you do not need and can lose without suffering any hardship. That's the first thing. Second, there are two ways to lose money: (1) the fast and it's gone-before-you-know-it way where you hold a losing position, or even double-down on a losing position. (2) the slow dribbling way where you take a series of small losses and over time these add up until you don't have any more funds to trade with. Whatever trading method you choose must have a way of (a) taking losses, and (b) making up for those losses plus extra so that you end up net-profit. There's no point in always taking a bunch of losses unless you can make them all up plus some. Your trading method must also guarantee (or at least try) that you never blow yourself up - that is lose so much money that you must inject additional funds in order to continue trading. Next, realize that a few, or a dozen, or a hundred trades is no indication of how the 101-th trade will pan out for you. "Doubling your money" on your first dozen trades is absolutely no indication of what will happen in the next dozen trades. If you doubled your money on your first dozen trades, you can (and probably will) lose all or most of your gains on your next dozen trades. You must therefore have some way of dealing with this.
  3. GC and CL are consistently the most active
  4. mwtzzz

    CL Thoughts

    Very weak this week, especially today. Anybody's thoughts ....
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