BTW... glad this thread started rolling a little Appreciated... Yeah, I think you are a a good trader, at least potentially.. knowing your weaknesses... and recognising potential strengths... That was the purpose for my TP20SL20 and SINGLE STRIKE threads... To make something glorious together... Also I was talking about this... breaking trading to components and analyse strength/weaknesses... The idea is that we should group our strong points together... As I was already explaining.... I do suggest to people to break-down trades to components, like price prediction, risk management, "would price hit if wider SL" etc etc... So maybe some of you are sitting on the goldmine or oil rig and are not even aware of it! I was using same price prediction model, improved it much.. but until I adjusted other parameters... would appear I suck... but when I adjusted... everything aligned, at least some of the time.
So the main components that we should look for are: price prediction, risk management, emotional control/stability... and also some fundamentals/technicals + some technical/IT edge does help (much) sometimes we need fundamentalists/technicals - if for not other thing.. to double-check maybe and to avoid entering the trade at wrong time.. (yeah we might not know what the "right" time is... or we wouldn't be watching this very thread atm.... right meaning.. almost perfect... SL close to 0PIP... but we sure know when there is wrong (high-risk time to enter...), for example.. just before certain news with rather unknown consequences.. or even at some technical (patterns, rebounds... etc). So if i would self-analyse.. I would say price prediction, trends... would be my strong point if anything.. also in smaller timeframes.. but since it is not perfect and we want to make big money.. with leverage... TP/SL/LEV have to be set good also.. I use rather simplified variable method for this... but I am still looking if someone would show me better, more profitable way to harvest my "predictions"... I have no problem with executing the trades... I also semi-automate the ones that I can.. I am bad at watching markets all the time... do not have nerves for this... I prefer set and (temp) forget... check later.. I hope we can group ourselves to PRICE FORECASTS (breakdown to fundamentals, technicals, pattern recognition, X) and to HARVESTERS.... meaning that there would be people that would see/propose optimal HARVEST strategy... considering the predictions, market conditions, and past combinatorics, from past... at different TP/SL/LEV parameters.. BTW I under-harvested MUCH, specially in the early days... Could have pulled crazy returns... (for certain amount of time)... before I pulled out... BTW had help there... someone suggested it's time to PULL-OUT certain high-risk streak.. and I am happy I did.. it went to shit 2trades after that So we need each other... Should you people be interested, we could group like this and make INSANE profits, together... No ego man...
To others also... If you want MONEY... WELCOME.. Only one thing counts here! If you want to MAKE IT or had at least a good chance!
BTW quotes/clips below are for INSPIRATION or in other words... to get you INTO THE ZONE... After you done trading, you can ZONE yourself out and believe/preach whatever.. but it sure does help to get you into MONEY HUNGRY TERMINATOR In one of the links before (million dollar traders) people were thinking all sorts of things while trading... you should know the result....
BTW this thing seems retarded.. but many FAIL at this.. at least sometimes or eventually.. I mean just check... how many people that bring CRAZY value.. got ignored.. bits my ass... I mean I would trade by worst enemies signals.. the person I would hate as a mofo... as long as I can make money out of his forecasts, signals... but many do not understand this, do not want to... have bigger issues to deal with that are superseding wish for money.. or are just ego-tripping, trolling
Here are some epic money quotes... to INSPIRE you.. WHY are we trading...
Other People's Money (1991)
GARFIELD: I love money. I love money more than I love the things it can buy. Does that surprise you? Money, it don't care whether I'm good or not. It don't care whether I snore or not. It don't care which god I pray to. There are only three things in this world with that kind of unconditional acceptance: Dogs, doughnuts, and money. Only money is better. You know why? Because it don't make you fat, and it don't poop all over the living room floor. There's only one thing I like better: Other people's money. http://www.greatbooksandfilm.com/otherpeoples.htm
(direct linke to exact time: t=25s)
Wolf of Wall Street (2013)
Wanna be a better person, save spotted owl ? Get money!
Wall Street: Money Never Sleeps (2010)
Gekko says... it is not about the MONEY.. it is about THE GAME (yeah, funny, since he played in that one also
The Departed (2006)
Can't get enough.. it's not about the NEED (only)... cracks me up
"I haven't needed the money since I took Archie's milk money in the 3rd grade, tell you the truth, I don't need the pussy anymore either. But I like it." (Jack Nicholson as Frank Costello)
(direct link to exact time: t=50s)
I Think I Love My Wife (2007)
A little controversial maybe, for some, but hey.. maybe it might help with some dilemma
I THINK (at least) some of us paid a good price getting that lesson
Mr. Landis: You can lose lots of money chasing women, but you will NEVER lose women chasing money.
And remember.. The moment I see another thread like this.. I do not care to join this... I care 0 f... for being thread OP or whatever... I started threads due to the NEED.. because many threads were lost (in my opinion), OP starter was LOST in ego-trip, dictatorship, followers.. and forgot what the the hall is all about... MONEY... at least what is suppose to, while trading, I believe... Once we get it.. we might CHANGE the world.. but till then.. I think we should get the MONEY first.. if not for other thing... for FU position... BTW this is where I do not necessary agree with some "no PLAN B"... I prefer "FU position and then you do not NEED plan B, you have safetynet or at least a good buffer so you do not have to focus with "what if"...) BTW this FU position can be rather low.. specially if one has LOW fix costs.. VAR can be whatever... since it should be based on var profits... FIX on "fix income or buffer"... I mean like... 100k USD can give you rather good BASIC FU position... not high-life standards.. but at least... you wouldn't need to sell the ass for basics.. for quite some time.. even if you relocate for the time.. I mean trading is rather cheap... free wi-fis everywhere... and a comp.. well you get the idea Of course ideally would be to have some GOOD FU position, with good standard included
yeah... few mios but till then... I would rather have 20+ years of FU position even with BASIC life.. than to 2-5years of HIGH-LIFE... But VAR (over that) can be TO THE TILT...
FU position (money motivation:
"We are here because we are not succesfull in this game, except for RobyTurboSS"
Sorry i forgot about you in my first statement.
If anybody else feels so offended has Roby please say something i will correct my statement again.
So keep it coming, hope we will also make some money while doing it
We can WIN, together, like this... Think about it! ONE INCH! Powerful speech AF! We might convert it to PIP... ONE PIP! Life is a game of PIPs
Maybe we could synchronise/deepfake so it would fit exactly to trading, but you get the point In fact... can do as text... fitted/replaced it to TRADING Not much adaptation needed
"You find out that life is just a game of PIPs. So is TRADING. Because in either game life or TRADING the margin for error is so small. I mean one half PIP too late or to early you don't quite make it. One half second too slow or too fast and you don't quite catch it. The PIPS we need are everywhere around us. They are in ever break of the game every minute, every second."
Yesterday I was thinking about if there is a way to actually put emotions to work in Forex. For example: If you feel devastated with the trade you made and feel like out of position or fear of getting stomped by MM out of blue with a spike. So the real question came in my mind....
Can you hedge yourself with reversal trade just to have at least small portion's of profit?
People say we can't completely take off our emotions. But what if we can look at our losing strategy and just start doing everything in reverse/hedge...?
I remember someone being doing trading against herd in r/wallstreetbets. Kept watching people's DD's and just keep doing reversal trades and been taking some huge profits .Going against not yourself but against others.(Sounds cruel but it worked for him because how much BS people put out without strong opinion on their own position while calling it out 100%, even tho nothing is 100% )
About the hedge... Absolutely man, you can hedge anything This is what I am telling to people, if they believe "they" have been tracking them, just hedge it...
But yes, since there are so many losing traders (Statistically), it seems obvious one would have better chance of being profitable by hedging some random trader
You also have some gurus.. that if you track them and do the opposite, you might be driving new benz by the end of the year
Let's make the money together... We can insult, cock-meassure, compete, whatever, along the way In fact, that would seem encouraging.. I would be worried when people become too good of a friends (in trading), to nice, KIND... You see where KIND traders end... "kindness" might be associated with losing.. in trading world... Only one thing count in this racket, MONEY...
Also about the black swans... The idea is to PULL-OUT before the SWAN... All experience traders know this... have the number at which they would QUIT.. The one that doesn't.. will pay HOUSE WINS lesson the hard way
The issue is when people put EGO before MONEY/PROFIT.. as you can see at some... you know where But AS LONG as MONEY/PROFIT is main objective.. meaning you are open to anyone that can increase your chances... You are on a good track or at least POTENTIAL TRACK... The ones that ignore/ban, are offended.. specially with some crazy mofos with WTF trading signals/history... are CERTAINLY gonna FAIL... if they didn't already.. and just keep on switching/ditching accounts... and give DOUBLE-meaning signals.. because it is almost ONLY UP or DOWN.. no bullshit But people give 10 double-meaning paramters in some "signal" and they say... "well yea, told you"
RobyTurboSS, just used your post to tell this, not realy intended to quote you, specially not in a bad way but for MOTIVATION, if anything
"The movie never changes but everytime you see it, it is different, because you are different, you see different things"... CLICK
BTW this guy has some good points...
"If you don't think money can buy happiness, you don't know where to shop!"
ppl, and also.. KNOW YOURSELF! If you have a problem you might have 2 options.. spent 15years of your life "FIXING" yourself.. or COMPENSATE/OUTSOURCE IT...
for example... Some here, I believe are EXCELENT MONEY MANAGERS (or good analysts-traders).. When you give them BUCKS.. you know they will KEEP IT, store it, manage it... but they are so RISK AVERSE that if they would make 10EUR bet, they would LITERALLY shit themselves or faint.. And that is a good thing!
Also there you have RISK TAKERS, NUTCASES.. that are ALWAYS in DEBT.. no matter how much they earn...
And that is good, we need MONEYMAKERS and PLUMBERS... In most cases, they admire eachother.. because RAINMAKERs ussualy do not know how to or do not bother with PIPES... And PLUMBERS have no clue how to make it rain, but sure does know how to make WATER pipes (manage water)... Together they are AWESOME... And if we add TRADING/market.. It is THE DESERT! PLUMBER might DIE... his plumbing skills wold be worthless... And rainmaker might die too because it is hard to DRINK from RAIN directly... unless one would be very hardcore rainmaker but at that point... wouldn't need water anymore anyway So you got the idea... MONEY/RAINMAKER, MONEY/WATER MANAGER (plumber)... and the DESERT (markets)...
So.. what I would suggest.. IF you are GOOD at price prediction but can't execute yourself.. due to whatever reasons... BE ANALYST... SHOW/SELL your signals to someone or HIRE/COOPERATE with someone that would MANAGE the actual trades for you, by yours instructions (Before the trades) and you could instruct him not to listen to you while the trade is in motion... You got the idea...
IF you are a CRAZY trader.. that makes a lot but THROW it back to the market (losing) or just SPEND (what's in your pocket - even if millions)... get yourself some money manager, make BANK arrangement to LOCK you out of some profit, to preserve it.. or what might work very good too... GET yourself "UGLY" loyal wife that will take care of business but will still be feminine enough for you not to become... Ok you got the idea.. BTW some of the wealthiest people... said that the sweet spot for a wife/keeper is a 7/10 that thinks she's a 6/10. Sweet spot
Yeah, I believe, some of us are NUTS for BLONDE bimbos... but... if you are of RISKY personality.. this can destroy you Old recipe... 3 leading things that can destroy any man... booze, women, gambling... Specially combined.. So some get themselves "a keeper" that takes care of home, preserve at least some of the money...
There are some options, much less so (since recession 10+ years ago)... in the bank.. with immediate annuities (with inflation protection)... They still offer it, but removed some options, specially inflation adjusting part So you get the idea... Either find SOMEONE or SOMETHING to PRESERVE at least some of the money.. UNLESS you are a WIZARD that can make it rain anytime, anywhere... they of course, you could drop all the rules... like a BILLIONAIREs If you don't know or can't execute (due to emotions), find someone that can...
BTW, if you wondered why some super successful, famous people have hideous wives... They have a good value... Also I am sure you know a lot of successful men that wen't to shit due to some bad women choices Yeah, they say the sweet spot is, if you can pull it off (risky af, but holy grail, some say to have stable frugal ("uglier") wife at home... for stability/love (if you are not the stable one.. buy have beauty (bimbo) for passion/excitement, on the side that loves to spend the money - credit cards but she doesn't give you shit or ask questions Best of all worlds hehe, some believe...
Ok, here is some good MONEY advice about CREDIT CARDS + (some?) WOMEN
And why do we (might) need money? Besides the FU position? TEST IN LIFE....
Not so few have "unworthy" feeling/complex so they somehow sabotage the trading (eventually) knowingly or unknowingly... A lot of factors, to be profitable, specially long(er)term... Some HEDGE FUNDS exploit this very nicely... Put a nice setup of people together into epic group.. BTW.. some people with (partial)autism might have a very good value but they wouldn't be able to execute one trade.. or at least not be profitable.. but if put in the right group, assign the right role... something miraculous can happen
That is why I am looking for cooperation because I do know what MAYBE my strengths are and what are the weaknesses or at least that I under-harvest much of signals/profits... That is why I also posted so many signals, charts... hoping someone can pull it better, I am sure there are more optimal ways to make profits out of my "predictions"...
BTW, some (de)motivation This is a vaccine before entering the market(s), everytime If one can not take this, he might be better be in the "back office"
It also seem to motivate some people Like "man-up" speech... Most liked comment (under the clip) is exactly that "Best motivational speech ever".
Anyway, I strongly believe in the FU position... either that you have ENOUGH money for some YEARS.. best would be 20+ and while building that... it would certainly help to reduce FIX costs or at least have "flood" compartments (like TITANIC) that are designed to prevent the "flood" spread Titanic was designed to be able to float with 4/16 flooded... Anyway, the analogy I find in the house... One can have apartment, small house.. some assets and then some FU position... as oppose to getting huge mortgage for huge house... that is designed in a way that is impossible to partly rent in case of the "flood"... I much prefer either multi-apartment house, that can be designed like this in a stealthy way... but in case you get some issues, you can rent/flood some apartments/compartments.. and preserve the FU position...
That was just one example.. Similar with cars, transportation, utility... whatever...
Well yeah, I believe the IDEAL would be to have no plan B, believe in whatever, "universe will provide" and that you don't need to store anything because you drink from the river, rain directly.. but at least I am not there yet.... so till then... I prefer in this COMBO... FU position and then "no plan B".. since you don't need it, at least for quite some time.... specially if you cancel ego in the equation and have no problem lowering the standard in order to preserve the FU... BTW know also some good cases/examples from the 70s when they compared 2 people in the raising TECHNOLOGY AREA... when computers etc.. were like almost nowhere and taking a job/career in that industry was not considered good/safe etc.. and there were two guys.. one was having 0 net worth and couldn't risk with some possible rising industry... the other had some good savings... and could take a chance... and the rest is history.... Also you have much better negotiation position and "radiate" different "energy" if you have like FU position or "like I give a fuck" position... "take it or leave it".. I mean it's very hard to say "take it or leave it"... to 5k USD for example... when you have like 0 net worth and 5k USD monthly expenses Much easier with some good savings (FU) and then say.. "You don't like it, get someone (monkey) else for peanuts money"
And this FU position, low FIX costs... and then VAR that can adapt quickly.. is SPECIALLY important in TRADING because we never know what the next day (profits) will be or if there will be any profits, next month, year, ever It is much different for other industries, medicine (MDs) for example... where you can afford to take a loan, because you know you will most probably almost climb up forever... raising salary... almost regardless of the economy etc... But in trading... we do not know
if we will be BILLIONAIRES or BUMPS in a few years At least in REAL trading... aka predicting future basically.. not IB style "trading" where they just do routine shit more or less filling order, liquidity, charge fees etc..
Ok that would be from my side on the topic.. If anyone disagrees, GREAT! If I could be of help, GREAT! Up to anyone...
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