The same applies to your profit target. This means that if your profit mark is $10, and your stop loss is $5 you will lose roughly twice as often as you win, all other things being equal.
What you actually CAN do is use smart money management, (something like the Kelly Criterion) to ensure that you properly capitalize on any slight edge you do manage to find without going broke in the long term.
That of course requires you to find a bet you can win 51% of the time, and that you be made of iron when it comes to sticking to the plan. Most folks can't.
The problem is the 0.5% of the time, it erases all the gains made on the successful ones.
I'm convinced without information edge or some capital sunk cost edge (for HFT) you are literally just flipping coins when it comes to trading.
What's dangerous is fixation on strategies that form after a period of success.
All in all, I think just buying stock and holding is the best and most successful approach to making money.
Maybe when AI becomes sentient it will know on which days it make sense to buy and sell iron condors with huge ass wings....
I'm surprised the future of technology is in the hands of a few people who have absolutely no clue what's happening outside their computers.
Building a large data center near a town can strain the power grid, drain local water supplies, generate constant noise, release excess heat, harm the environment, disrupt traffic during construction, raise security concerns, and offer very little long-term benefit to the local community.
So, yeah, the solution is to cover the earth with data centers, right?
>The more of us who incapacitate Google's analytics products and their support mechanism, the better. Not just for the good of each individual person implementing the blocks - but in a wider sense, because if enough people block Google Analytics 4, it will go the same way as Universal Google Analytics. These products rely on gaining access to the majority of Web users. If too many people block them, they become useless and have to be withdrawn.
OK - but then also in the wider sense, if site owners can't easily assess the performance of their site relative to user behavior to make improvements, now the overall UX of the web declines. Should we go back to static pages and mining Urchin extracts, and guessing what people care about?
"Is Paul Newman known for having had problems with alcohol?"
All of the models up to o3-mini-high told me he had no known problems. Here's o3-mini-high's response:
"Paul Newman is not widely known for having had problems with alcohol. While he portrayed characters who sometimes dealt with personal struggles on screen, his personal life and public image were more focused on his celebrated acting career, philanthropic work, and passion for auto racing rather than any issues with alcohol. There is no substantial or widely reported evidence in reputable biographies or interviews that indicates he struggled with alcohol abuse."
There is plenty of evidence online that he struggled a lot with alcohol, including testimony from his long-time wife Joanne Woodward.
I sent my mom the ChatGPT reply and in five minutes she found an authoritative source to back her argument [1].
I use ChatGPT for many tasks every day, but I couldn't fathom that it would get so wrong something so simple.
Lesson(s) learned... Including not doubting my mother's movie trivia knowledge.
[1] https://www.newyorker.com/magazine/2022/10/24/who-paul-newma...
Citation needed or this is just more vibe-xecutive decree.