We fell off the rails a bit, but for the most part this thread has been illuminating. Even this thread has been telling. The biggest take away so far is that there are two chief camps: Winners and Losers. Ultimately, yes, but for today, let us call them Camp I and Camp II.
CAMP I:
The individuals in this camp have experienced a modicum of success in trading; be it live or demo. The hallmark of the camp appears to be the realization that the quest of the Holy Grail is a journey of introspection. Some members may speak about risk to reward ratios, or statistical significance, or proper appliion of available market generated information, or even repeatable edges. To name just a few. What these Camp I members talk about, however, is the profound seeded comprehension, nay, belief, the Holy Grail is about discovering what works best for the individual. The Holy Grail is very unique and different as the hands of the individual that hold it. The Holy Grail is coupling logical and rational market expectations and realities, using a person's particular nature and belief system. For many, it's highly quantitative and for others is highly tactile. Camp I members balk at the idea that the Holy Grail does not exist, because they have discovered it by looking in the mirror. They appear in the mirror and say, '' The one thing I can control is that the person looking back at me. They are their own worst enemy, and also their own best ally. They are the Holy Grail. They constitute about 5% of the trading people.
CAMP II:
Members of the camp are hallmarked by the idea that the Holy Grail is discovered by looking outward. It's a prize to be discovered. It's the key to a secret society. It's a system or method that never, or almost never, takes a losing trade. There's no talk of risk, reward, nor valid market generated info. All that matters is,when I take a trade, will I be right? . Do I have a statistical edge? . Individual within this camp scour forums searching for the next best indior. They would like to go long when the indior is green and brief when it is red . The one thing they want to consider is, where are they going to spend their untold millions? . They require two transactions using a new method or method and win. They take another trade and it turns out for a loss. Now, suddenly, they consider the validity of this system in the first loion. It doesn't happen to them that the underlying assumptions they are questioning after the third trade, are the same as they were for the previous two that won. They believe trading contest are the best way to demone their trading metal. As opposed to the best approach to reinforce bad trading habits. They constitute about 95% of the trading people.
5% and 95%.... Those numbers seem familiar.