However.... I reiterate my position that not all trading is bad, that all TA/QA is not useless, leverage is just a tool (a dangerous tool that will cut your arm off without proper risk management)
Tis what it is.
Tis not for everyone.
Tis not even for the SAME person, a good thing at different times (for example, you are stressed/not in the right mind, under financial stress, not well, not rested, have not thought out what you are doing, have not done extensive training, market conditions are not right... you are drunk etc etc)
True. My initial risk-taking behaviour was largely caused by personal pressures that I have not mentioned, on grounds of “nobody’s business but my own”. For years, I was patient and prudent; I felt pressure of running out of time for more patience, more prudence.
In mid-May, I wrote but did not post something long, addressed to Jay, about how drastically out of character this was for me.
You just captured in a nutshell what he missed in later discussion, when he speculated that I had a gambling addiction (!). When someone does something drastically out of character, especially when someone smart does something terrifically stupid, there is usually a reason beneath the surface.
I agree with most else in your post, except for this:
Trend is your friend.... until the end.... my only friend.
Alzo.... TREND + MOMENTUM + VOLATILITY taken together... is a useful way of viewing the market.
Trend is your friend—
until it isn’t. Trend-followers and momentum traders not infrequently get wiped out. Of course, you will chalk it up to a lack of adequate risk management. #justsaying