bottom line is this is the Speculation Forum, aka, Wild West.
we're all guilty of saying "this is going to happen" or "that is going to happen".
I agree. And everyone should already be aware that speculation is inherently dangerous and not for the feint of heart. If you want some clear-cut advice on making money speculating, here it is:
- Don't put all your eggs in one basket
- Don't think that if you lose 10 times in a row the odds of winning are higher next time -- that's the gambler's fallacy
- Manage your risk by choosing an appropriate R-factor (max acceptable loss per trade); I suggest 3-5%
- Never assume something that worked in the past will necessarily work again (past performance not indicative of future gains)
Agreed. I've made my point. You've made yours. Neither of us are going to see it the way the other does. The information is here for anyone else to make their own decisions on the matter in the future. It's been an interesting conversation if nothing else.
Don't think your point was totally lost on me. It wasn't. Next time I write something which might be taken as trading/investment advice I'll be a bit more selective in wording. But here in the speculator's forums I hope people realize it's dangerous to "chase" after other traders.
