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Just tracked back on who wldman is to get a sense of personality I started posting last Jan seems you were quiet and came back strong last month.
So diversification as edge is what your saying? Sure. I bought a second home here, renovations are adding huge value to it. Also a medical device research company which is a money pit now but we have great hopes.
Love diversification, running mental marathons as a normal day is a huge edge in anything.
@xplorer nah, the Brooks thing was being poisoned from the TS site, the injection point needed to be cauterised. All friends here.
BTW if a snowflake lands on that Brooks thread it might start again, I'd strongly advise no posting.
diversification is a false narrative, especially in what the forum calls trading. Edge is something you can identify or create through some unique situation, ability or application that few others can recognize right away or utilize as well or as easy as you can.
What I meant was that if I have no real edge...and that happens as the markets change, I rely on investment in equities or in real estate to carry the weight until I can figure out what is next. I don't do private equity or invest in private businesses over which I have limited control.
to single you out Daxy as I think I have a handle on where you are coming from and tend to agree. I am not astonished at how the threads seem to degenerate immediately into a useless string of disagreement.
I just wanted to point that out. The nature of the initial question reveals something about the poster. Then the thing digresses into useless right away.
$0 balance and net liq, you have to have a certain background to know the difference and understand structure and how that works. Retail will not understand...just like asking how much you need reveals a certain but different understanding.
A tremendously subjective question should give thoughtful guys from both backgrounds, and people who trade or just play a simulation the chance to GAIN.
I was lamenting that those days seem over as evidenced how everyone jumps everyone for everything...to no beneficial outcome. I did not see you specifically do that, but we all get sucked in.
It was not intended as an attack on you Dan. I know you were very involved before but it is hard to read personality without context.
I've been difficult a couple of times recently on threads but 1. was the Brooks thread and for a very good specific reason but not public. 2. Someone lumped me into a "you guys are" comment.
Edge has no definition on the site, it clearly means wildly different things like scalp. Edit: to clairfy, is understood as different things anyway, scalp finally got defined after it turned into a too-long debate.
Ok, fine. I understood that but gathered you were extending the realm of edge to that which keeps you alive in relatively leaner times so you can come back strong. All clear.
These types of threads always tend to go that way. No one wants to hear that they have insufficient capital and most people believe themselves to be more lucky or good than others - @Rory mentioned the specific name for this recently, but since there were no pics, I can't recall what it's called. Think it was something like the Kruger-Dunning effect, but my ability to use Google also seems quite bad right now...
If someone is undercapitalised, it generally stems from having too little access to money and trading is seen as a way to increase their money. I mean Richard Dennis turned $400 into $100 million, Ed Seykota $5k into $15 million and Michael Marcus $30k into $80 million. However it does not mean that I or any other trader can accomplish that same feat. Accepting that a dream is unrealistic is difficult for most - it was for me! It touches on emotions we quite often don't want to face.
Saving up to be properly capitalised was probably one of the best moves I did, but still does not guarantee success at trading. It merely means I can survive longer.
Those days are not over just the election result caused friction mostly. Its across the planet, not just NexusFi. It will settle.
@grausch indeed the Dunning-Kruger effect. It is a difficult thing to explain to someone bristling with self-confidence that they might not want to try Futures. It is considered being a Grinch, often one makes a subtle point to be kind/adult however it is wasted breath.
Intellectual/experience "capital" is as important and needs to be built up also as part of personal development. But we know 1/20 (ish) make it, usually the people who were successful anyway? the 10% or 5% rise to the top thing is similar in most industries, not just trading.
I started posting last Jan seems you were quiet and came back strong last month.