You Can't Beat the Races

" You can beat a horse race, but you can't beat the races."  - How to Trade in Stocks, Jesse Livermore

I've tried to beat the races, and it is very hard to do.  But I can beat individual races among many if I selectively pick and choose.   I have given up trying to make money every day.  I am not a salaryman.  I shouldn't act like one.   I've realized that the biggest mistakes I've made in the past have been trying to catch every little move up and down, leading me to miss the big one.

For most people, daytrading is a sucker's game.  Especially with HFT ruling the markets.

The ES looks untradeable.  It just might be the most bullish market in the world or the most manipulated.  Either way, I don't want to play that game.  The horse races have been rigged by BB & Co.  I am not alone in feeling this way so you have a lot of traders that aren't participating in the stock market rally.  That's one of the reasons we hardly go down and stay down.  You need a large supply of weak hands to sustain a bear trend.  We don't have that yet in stocks.  It is getting there in commodities.