Walter Joseph Dillard
- Trading Recruiter in Dillard Trading Services
- Vereinigte Staaten von Amerika
- 245
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5+ Jahre
Erfahrung
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0
Produkte
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0
Demoversionen
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0
Jobs
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25
Signale
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55
Abonnenten
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Trading Recruiter
in
Dillard Trading Services
I recruit top tier traders for hedge funds. This is a 100% free process to traders. You need a 6 month or longer track record here on MQL5. We seek returns of 2.5% a month or more within a 10% max drawdown. But, all is relative. So 5% a month within a 20% max drawdown is good too. The target doesn't need to be hit every month, you just need to average that rate over 6 months or more. If you are interested message me here on MQL5.
Walter Joseph Dillard
I’m so often surprised how many people trade without knowing what trading is or how it works.
So, today I want to talk about the basics of what trading is and how it works.
Trading is a pattern recognition minus sum numbers game. Really, that’s what it is.
A zero sum game is where when one person wins the other loses. Say for example, when you win at a casino, the casino loses. When you lose at the casino, the casino wins. That’s a zero sum game.
In a minus sum game, what you gain when you win is less than what the loser loses, and vice versa. Trading is a minus sum game because brokers take spread and commission. In order to win in a minus sum game you have to have higher margins and can’t just operate on tiny margins because you have to cover the spread and commission.
Trading is a game because you can choose to play it or choose not to play it as you wish.
Now, success in trading is based on pattern recognition. This applies both to fundamental and technical analysis. Patterns on charts in the case of technical analysis, patterns in the numbers, models, behaviors, etc in the case of fundamental analysis.
In order to win in the markets, you need to have an edge. An edge gives you the ability to win more than you lose. Casinos have an edge over the gamblers, because even if gamblers play games perfectly they still only win about 47% of the time. That leaves the casino winning 53% of the time in a zero sum game, and that 6% margin is their profit margin.
In trading the goal is simply to create such an edge, as the casinos do, and execute it whenever it appears without emotion.
Where most traders fail is in testing their edge. Few traders ever stress test their edge. It’s like a casino putting rock paper scissors into their collection of games. Without stress testing their edge they could lose an absolute fortune on it.
At the end of the day, that’s what trading really is, a pattern recognition minus sum numbers game.
In the future I hope to see more traders learning what trading is before diving head first into it.
Cheers! Have a great day!
:))))))))))))))))))))))))))
So, today I want to talk about the basics of what trading is and how it works.
Trading is a pattern recognition minus sum numbers game. Really, that’s what it is.
A zero sum game is where when one person wins the other loses. Say for example, when you win at a casino, the casino loses. When you lose at the casino, the casino wins. That’s a zero sum game.
In a minus sum game, what you gain when you win is less than what the loser loses, and vice versa. Trading is a minus sum game because brokers take spread and commission. In order to win in a minus sum game you have to have higher margins and can’t just operate on tiny margins because you have to cover the spread and commission.
Trading is a game because you can choose to play it or choose not to play it as you wish.
Now, success in trading is based on pattern recognition. This applies both to fundamental and technical analysis. Patterns on charts in the case of technical analysis, patterns in the numbers, models, behaviors, etc in the case of fundamental analysis.
In order to win in the markets, you need to have an edge. An edge gives you the ability to win more than you lose. Casinos have an edge over the gamblers, because even if gamblers play games perfectly they still only win about 47% of the time. That leaves the casino winning 53% of the time in a zero sum game, and that 6% margin is their profit margin.
In trading the goal is simply to create such an edge, as the casinos do, and execute it whenever it appears without emotion.
Where most traders fail is in testing their edge. Few traders ever stress test their edge. It’s like a casino putting rock paper scissors into their collection of games. Without stress testing their edge they could lose an absolute fortune on it.
At the end of the day, that’s what trading really is, a pattern recognition minus sum numbers game.
In the future I hope to see more traders learning what trading is before diving head first into it.
Cheers! Have a great day!
:))))))))))))))))))))))))))
Walter Joseph Dillard
No real trader will hide their myfxbook. They’ll be proud to show it to you.
I find that 90% plus of “traders” are unwilling to produce their myfxbook page. There is no good reason for this.
Myfxbook takes 10 minutes or less to set up. It’s very easy to use and to link an account from over 3,000 brokers to.
Myfxbook is a great and useful service that vets the results of traders. Unlike screenshots, myfxbook shows the full story of a trader’s account and lots of analysis on that account.
If a trader doesn’t want to show you their myfxbook then they have something to hide.
To improve the trading community we need to hold everyone to proving their results. Everyone should have a myfxbook account and be ready to produce it.
With this practice we can remove 99% of all scammers with ease. So, whenever anyone posts a screenshot of their trading results, make sure to ask, “Myfxbook to back that up?”
Thanks for reading! Have a great day! Best wishes to you!
:))))))))))))))))))))))))))))
I find that 90% plus of “traders” are unwilling to produce their myfxbook page. There is no good reason for this.
Myfxbook takes 10 minutes or less to set up. It’s very easy to use and to link an account from over 3,000 brokers to.
Myfxbook is a great and useful service that vets the results of traders. Unlike screenshots, myfxbook shows the full story of a trader’s account and lots of analysis on that account.
If a trader doesn’t want to show you their myfxbook then they have something to hide.
To improve the trading community we need to hold everyone to proving their results. Everyone should have a myfxbook account and be ready to produce it.
With this practice we can remove 99% of all scammers with ease. So, whenever anyone posts a screenshot of their trading results, make sure to ask, “Myfxbook to back that up?”
Thanks for reading! Have a great day! Best wishes to you!
:))))))))))))))))))))))))))))
Walter Joseph Dillard
When it comes to trading, few are consistently successful.
30% of traders lose their money consistently. They have a downward sloping equity curve and continue to do nothing but lose month after month.
Being a losing trader though isn’t that dangerous, because they risk little and quit eventually.
After all, losing consistently shows you can’t trade forever, and often they give up trading eventually or learn to not be consistent losers.
The harmful group are the boom and busters. Boom and busters are 60% plus of all traders out there.
Boom and busters suffer the most because they have solid winning periods, then everything busts. Often boom and busters make huge gains that can go on for weeks even months, but it all ends in a quick disaster.
Booming and busting is the most harmful thing because boom and busters think they are winners and big winners. They think they have everything all figured out, so they put more capital behind their strategy and shoot for the moon. Unfortunately, they never make it…
Sadly booming and busting is just a reality for a majority of traders. Very few are consistent winners.
The consistent winners are consistent because they use well tested methods that have real statistical edges. Most people approach trading like a gambler at a casino, while consistent winners approach it as the house at a casino does.
With a well tested and well executed strategy, the consistent winners have a consistently rising equity curve over time and generate consistent profits month after month.
What separates the boom and busters from the winners is usually a matter of risk and how well tested the edge actually is.
My main advice to anyone who struggles is to focus on the long haul. Getting consistent profit is what gets your investors and more money behind your strategy. You don’t have to do everything on your own. With a good enough track record on myfxbook it’s easy enough to get capital.
I wish you all the best! Cheers!
:))))))))))))))))))))))
30% of traders lose their money consistently. They have a downward sloping equity curve and continue to do nothing but lose month after month.
Being a losing trader though isn’t that dangerous, because they risk little and quit eventually.
After all, losing consistently shows you can’t trade forever, and often they give up trading eventually or learn to not be consistent losers.
The harmful group are the boom and busters. Boom and busters are 60% plus of all traders out there.
Boom and busters suffer the most because they have solid winning periods, then everything busts. Often boom and busters make huge gains that can go on for weeks even months, but it all ends in a quick disaster.
Booming and busting is the most harmful thing because boom and busters think they are winners and big winners. They think they have everything all figured out, so they put more capital behind their strategy and shoot for the moon. Unfortunately, they never make it…
Sadly booming and busting is just a reality for a majority of traders. Very few are consistent winners.
The consistent winners are consistent because they use well tested methods that have real statistical edges. Most people approach trading like a gambler at a casino, while consistent winners approach it as the house at a casino does.
With a well tested and well executed strategy, the consistent winners have a consistently rising equity curve over time and generate consistent profits month after month.
What separates the boom and busters from the winners is usually a matter of risk and how well tested the edge actually is.
My main advice to anyone who struggles is to focus on the long haul. Getting consistent profit is what gets your investors and more money behind your strategy. You don’t have to do everything on your own. With a good enough track record on myfxbook it’s easy enough to get capital.
I wish you all the best! Cheers!
:))))))))))))))))))))))
Walter Joseph Dillard
Many traders want to win every trade they take.
They stay out of every trade until they are sure they will win it, then their only expectation is that they will win it.
This usually is a problem because these traders will over risk on their trades. Because they are sure they will win, they don’t think there is any risk.
However, when their trade starts to lose, emotionally they panic. They were sure they’d win and instead are losing. With risk management entirely based on confidence, that’s now all gone and they are on the road to lose everything.
Some stay with bad trades until they kill them. Others bail out of good trades due to their emotions.
Regardless, when traders expect to win every trade they are expecting the impossible. There is no way to win every trade all of the time.
So, what should traders do instead?
Treat trading like the house treats their games at a casino. In a casino the house always wins in the long run. As long as people keep playing the games the house wins in the end.
Often the house only wins 53 / 100 times, but that margin is where all those casino profits are made.
In trading it’s best to have an edge like the house has and simply win more trades than you lose.
No one will win every trade, but it’s easy to win more than lose with appropriate risk management in the long run.
Thanks for reading, have a great day! Best wishes to you all!
:))))))))))))))))))))))))))))
They stay out of every trade until they are sure they will win it, then their only expectation is that they will win it.
This usually is a problem because these traders will over risk on their trades. Because they are sure they will win, they don’t think there is any risk.
However, when their trade starts to lose, emotionally they panic. They were sure they’d win and instead are losing. With risk management entirely based on confidence, that’s now all gone and they are on the road to lose everything.
Some stay with bad trades until they kill them. Others bail out of good trades due to their emotions.
Regardless, when traders expect to win every trade they are expecting the impossible. There is no way to win every trade all of the time.
So, what should traders do instead?
Treat trading like the house treats their games at a casino. In a casino the house always wins in the long run. As long as people keep playing the games the house wins in the end.
Often the house only wins 53 / 100 times, but that margin is where all those casino profits are made.
In trading it’s best to have an edge like the house has and simply win more trades than you lose.
No one will win every trade, but it’s easy to win more than lose with appropriate risk management in the long run.
Thanks for reading, have a great day! Best wishes to you all!
:))))))))))))))))))))))))))))