The second sacred cow: "Grow profits, cut losses" - page 20
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Without the "how" this maxim would remain unacknowledged, i.e. it would be a dumb Obviousness.
Worse! It's a kind of 'Trojan horse'.
Caura suit, in a vacuum?
Caura suit, in a vacuum?
That's the thing - in a vacuum of information, this "maxim" is disastrous. Or should I say, in a vacuum of knowledge and experience.
What's the maxim?
;) this one ""Grow profits, cut losses"".
("On the second sentence I completely lost the thread of the narrative... " (С) )
P.S. Take some levels - extrema, fibo, whatever. And somehow calculate the probability of breakout and rebound. You'll get 50/50. That doesn't mean that the levels "don't work". They don't have to on their own. Breakout and rebound reaction rules can work. The rules should not work in the sense of breakout/bounce probability different from 50/50, but they should give statistical profit advantage, whereas probabilities are of secondary importance. Thus, it's not the levels themselves that work, but the correct algorithms of making trading decisions concerning these levels. The levels by themselves don't work and are not breakout or rebound without the description of algorithms of breakout or rebound usage.
Therefore, closing at a pre-selected level is a kind of "to close out of harm's way", which is basically an option if there is no more detailed reaction
;) this one ""Grow profits, cut losses"".
("On the second sentence I completely lost the thread of the narrative... " (С) )
Absolutely not. This is a correct statement.
Absolutely not. This is a correct statement.
Talking wiener
Absolutely not. This is a correct statement.
No, I don't get it. Where's the conflict, the intrigue? Where's the wordplay? At the very least, "I heard it from a wiener."