Putting the odds in your favour the search for consistency

Twee pls delete this thread the troll Laure Goure needed to show up logo,track and many more multiple usernames she has not sure what her problem is but bit tired of this woman..




Because it is christmass time i want to give something back to this community. I hope it will help some of the people in there journey of trading especially with devolping a plan.



At the end i might even share 1 of my systems i use i have a couple of tools and might reveal 1. A mechinical 1 because i think mechinical 1s are ok for starters.

The reason of the name of the thread is Putting the odds in your favour is if you start to see trading like this instead of random placing trades you are starting to create a edge what in overtime will show you if you have a edge or you still random placing trades.

A edge is out a set of rulles how you aproach the market when you see the ods in your favour you enter a trade then even with the risk management you can still put the odds more in your favour. (for example risking less and gain more on trades).

Will make tommorow another post whe first will go in to the echo the echo in someone itself. Trading is mostly about psychology what goes on in your brain when you click your mouse buttons or whatever to enter a trade.

Sounds interesting. Look forward to your posts.

Trading is simply Buying and Selling. but many have a ego in trading the need to be right. Trading is most all about psychology human behaviour how do you handle the trade do you have the patience to wait for your set of rulles come together do you have the discipline to stick to them.
When I first tried to learn to trade myself went to seminars and read books and first things they talk about is how to open a trade or “Entry” techniques… then comes a parade of Oscillators, Stochastics, Bollinger bands, Fibonacci numbers, Moving Averages (exponential, weighted etc)… just hearing these terms already give me “indicator overload” and confuse the *%r$^ out of me! I guess for years I just traded using the simplest indicator (the one that I actually understood? Then forgot which one now)….after all so many Myths abound in Trading. I am writing about them here in the hope that it won’t stop you to learn to Trade or altogether get messed up!
Here are my favourites :
1) Myth 1 : The Need to be Right — why Entry techniques or use of indicators are so popular is because traders have a need to understand, need to explain, need to be right. In the book “Trade Your Way to Financial Freedom” by Dr. Van Tharp, I picked up the idea that “Being right has very little to do with making money”. Traders think they can control the outcome of their trading by knowing everything there is to know before entering a trade, the truth is, after Entry, the market will do whatever it is going to do. (Period)
Discovering this idea is so liberating. I don’t have to “sweat the small stuff” trying to understand and explain. So in my Trading, I include in my preparation reading about what is going on in the market, what has happened in the price – but I always give myself an allowance or room to move, after all, I can be wrong.
2) Myth 2 : It’s Risky Business – Risk is found in every worthwhile activity of humankind. A life-saving surgery has risks. Driving has risks. Even a pleasurable activity like Shopping has risks. (what overspending? ). Key is to understand and prepare for what the risks are. In Trading, most of the risk is not exercising Self-Control.
My favourite analogy with Risks is Trading and Driving. Let’s see, how does one get into trouble with both :
a) Not Focusing at the task at hand
b) Not following the Rules
c) Overconfidence
In Trading, it is worth mentioning that you make Trading Rules that is right for you. If you don’t have a set of rules to follow, stop trading, work out the system and paper trade. You’ve been warned! You can still have somekind of form of discretionary based on news flows order flows liquidity etc but trading just random will give you eventually random results
[b]3) Myth 3 : Losses are bad[/B] – Do you ever get a telemarketer from a big company (tempted to mention a pesky one here) calling to offer you a “Special Deal” and yet you still don’t want it? You just costed that company money because of the time, staff, tools and communication costs to contact you and try to make a sale. That’s a loss. And yet they are still in business Somehow, the telemarketers generate a sale from other leads. Same is true in trading. You don’t have to always win in order to be profitable. You have to make Losses a part of Trading. Key to Trading is keeping Losses small and make a winning trade’s profits grow as big as possible. So spend a lot of time learning and mastering how to do Profit-taking EXITS, rather than Entry strategies that get so hyped up. Here comes imo patience stay out of markets who dont make sense and wait for the best entry what will give you the best result why throwing money all over the table if there is not a good deal. Another thing is the biggest traders dont do many trades they wait for 3a 5 macro trades a year and squeeze the shit out those trades if they right they add and squeeze big out of it also they risk more on those trades. If there plan fails they fast out of it.
I am sure many of you who read this have got trades they wanted to enter at some pricepoint or wahtever and had that gutfeel that the markets is gonna take a dive or a rip but because impatience not enough discipline they fucked it up. Made a small profit out of it or even a loss, and seeing the trade going there way. Now they pissed off and are waiting for the pullback what doesnt come so starting to counter the move till they lose a lot of there equity and bail the loss after moving stops 100s of times and adding then the whole position after they take there loss eventually moves there direction verry frustrating.

This all has to do with the ego the abillity not to have control over yourself and keep on thinking you right market is wrong.
Whenever you place a trade ask yourself the quesions for example why do you wanna exchange the eur with us dollars for example.

Watch this videos a couple of times and think about it..

Inserted Video

Will this week or the week after going to the next post

Here 1 more video of a good friend of mine and old mentor G Simmons

Attached is some material given by a trader friend of mine, who recons we traders can learn a lot about psychology by studying the most used "material" in psy courses - the criminals and the psychopaths.

Interesting concepts

Ah awesome stuff - what happened???

Please continue Ingmar

I will contineu with the next post when is the question but it will come depends mostly when i have the time an inspiration.

Anyway i think whe described the most of the part the ego and how it can effect trading people most understand trading is still gambling. But it it is like poker 1 can put the odds in his favour and have sometimes wins in the market, what will create a egde. Like in the last Vid from Gregg what he describes with the roullete wheel. If people dissagree with me it is fine.

Here some quotes to think about.

Don’t conflate revenue with success, especially not long term. Many of the best things we’ve done have cost or lost money in the short run, but built a better brand over the years because of it.
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Setting goals and creating roadmaps is a good exercise Limiting your creativity or options because you’ve set them in stone mentally and emotionally is dangerous.
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There’s a philosophy I’ve often seen espoused which theorizes that past success is the only indicator of future performance. I reject this entirely, and have loads of evidence to back up the loser-turned-winner narrative.
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A friend in college used to regularly tell me to “Never date the pretty girl who knows she’s pretty.” Extrapolated out to the professional world, I’ve found this to be excellent advice. Those who think very highly of themselves tend to make for poor employees, partners, service providers, friends, spouses, etc.
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Money can’t buy you love, but it can buy you time. Spending money to buy time has some of the highest ROI I’ve encountered.
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Being genuinely interested in other people is very powerful and highly enjoyable. I can’t recommend it enough.
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Aligning yourself with people who share your values and your prioritization of those values far outweighs aligning yourself with people who share your vision for a particular product, roadmap, or financial goal.
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No one succeeds on their own. Avoid those who believe they have (or will).
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Failing is the best way to learn. Being scared to fail directly correlates with being scared to learn.
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Better marketing often trumps a better product. Invest in both.
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People are irrational, but in surprisingly predictable ways. Knowing how makes you far less susceptible the unpleasant emotions that often accompany the discovery of such irrationality.
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Don’t bother having enemies. I like to believe that people who don’t like me are simply folks I haven’t spent enough time with yet (though sadly, I likely won’t ever have enough time for some of them).
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Spending time with people who have things really, really rough can help remind you about the relative importance of that person who was mean to you
The web is a vast and wonderful place, and exploring it with an open mind that’s desperate for inspiration can lead to amazing things.
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“If you ever catch yourself refreshing a comment stream or message board post over and over waiting to argue – they’ve already won.” – I’m stealing this one from Rae, but only because I so vehemently agree, and I’ve lost so many times to this rule without realizing it.
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Generally avoid comments on Yahoo! News, Youtube, and anything political, despite what #14 says, as these will make you fear for the human race.
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Stereotyping becomes mathematically more dangerous the more people you meet.
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The rules of bullying don’t change much from when you’re a kid. Those who bully are generally more insecure than you, and usually back off if they’re either A) ignored or B) faced by a bigger bully. There is one rule change – A is much easier, wiser, and more legal than B as you get older.
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Pretend that all your legally enforceable documents (which you should take care of) will never be practical or worthwhile to enforce. This will push you to work with people you believe will always be trustworthy and ethical to the spirit of these agreements.
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Nothing worth having comes easy. Relationships (of all kinds) take work. Customers take work. Building a team takes work. If it’s easy, it’s often not worth having and almost never a competitive advantage.
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Investing where others do not is usually the best way to succeed. Investing where everyone else already does is usually the best way to be mediocre.
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If you advise others in their business, formally or informally, whether on the team, the board, or neither, you do a disservice when you don’t question assumptions and demand evidence. Critical feedback, hard questions, and tough conversations make us better at our work.
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Caveat #1: Never do this from a place of hostility or hidden motivation. The best disagreements and discussions are between those who have respect, admiration, and love for one another at the core of the relationship (exempli gratia).Caveat #2: This may work terribly in your purely personal relationships. Your wife/friend/brother (usually) doesn’t need you criticizing their decisions and asking them hard questions. They need you backing them up 100%. I think this is why family and business often don’t mix well.
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Most people massively overvalue secrecy and massively undervalue transparency. This makes sharing openly even more unexpected, remarkable, and powerful.
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People don’t buy what you do, they buy why you do it. This is why I won’t buy anything from Apple, why Kickstarter works, why Harley Davidson continued to have success despite terrible quality in the ’70′s and ’80′s, and why many startups have a hard time marketing themselves.

Spend time with positive people, also dont dislike succesfull people or rich because they have something you dont have. Study them and become 1 yourself




http://www.youtube.com/watch?feature...v=0JUFjTOM32g#!



Check the last 1 the confidence this man has before he had a match true willpower.