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Are we all idiots?

  • #21
  • Aug 16, 2018 10:48am Aug 16, 2018 10:48am
Quoting AmmaBoss
Honest I have made so many mistake by refusing to exit trade between now and last night , this really isn't an accurate representation of the edge. The results should get better after some time as I have never traded this way before and continuously second guess myself. .
Try mindfullness
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  • #22
  • Edited 11:11am Aug 16, 2018 10:54am | Edited 11:11am
Traders are not idiots they close trades early due to loss aversion theory, emotional brain is trading the markets, mistakes are subconscious errors by our automatic mind.


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  • #23
  • Aug 16, 2018 10:58am Aug 16, 2018 10:58am
looks like its a war that i'll never win

i'll just leave this for innocent newbies if they can read it, "how much words in ur mind i can write about my profitability and my awesomeness without proving any of those,?? a lot right then think about that, they are all from one gang"
  • #24
  • Aug 16, 2018 11:09am Aug 16, 2018 11:09am
Quoting llxx77dd
looks like its a war that i'll never win i'll just leave this for innocent newbies if they can read it, "how much words in ur mind i can write about my profitability and my awesomeness without proving any of those,?? a lot right then think about that, they are all from one gang"

You mean same is baiting us traders?
  • #25
  • Edited 12:17pm Aug 16, 2018 11:11am | Edited 12:17pm
well, remember when found aha moment was starving about 7 days, lose everything, was borrowed in order keep traiding had biggest fail in my traiding put everyting on table even food, feld like an idiot and after everything didnt lied my hands down on demo still was traiding
  • #26
  • Aug 16, 2018 11:15am Aug 16, 2018 11:15am
Quoting Arturke
well, remember when found aha moment was starving about 7 days, lose everything, was borrowed in order keep traiding had biggest fail in my traiding put everyting on table even food, feld like an idiot and after everything didnt lied my hands down on demo still was traiding
yeah, that's majority!
  • #27
  • Aug 16, 2018 11:22am Aug 16, 2018 11:22am
Quoting Nivad
Here's a real ah ha moment for you. A method is just a bunch of rules that get you into a market in (hopefully) the direction the market is moving or going to move. 100% of the methods here can be profitable. 100% of the methods here can get you into a profitable move sometime or the other. Flipping a coin and then buying or selling based on heads or tails can get you into a profitable move,throwing a dart,rolling dice,lunar cycles,pivots,pinbars,MACD etc etc. It's not you entries which are important to success in this business. Entries,no matter...
Agree and glad someone sees things the way I do (but frankly a bit discouraged not seeing the word "consistently" in this post)

If I may add...

It's money management and your exits that are the true holy grail to achieve consistency in trading
Staying in my lane...
  • #28
  • Aug 16, 2018 11:32am Aug 16, 2018 11:32am
Quoting VEEFX
{quote} Agree and glad someone sees things the way I do (but frankly a bit discouraged not seeing the word "consistently" in this post) If I may add... It's money management and your exits that are the true holy grail to achieve consistency in trading
yeah!!! looks like we have many aha traders in this forum who break the markets code
i wonder why we still read about a 95% or 75% or whatever percent of losers each day on this biz ??

i wonder too why all strategies and tools on this forum like any other forum are rookies, rubbish and cookie talk ??, sometimes u cant see that before a year from using it

yea i wounder about a lot of things, maybe ill call my self the wonder man
  • #29
  • Aug 16, 2018 11:36am Aug 16, 2018 11:36am
Quoting Nivad
Here's a real ah ha moment for you. A method is just a bunch of rules that get you into a market in (hopefully) the direction the market is moving or going to move. 100% of the methods here can be profitable. 100% of the methods here can get you into a profitable move sometime or the other. Flipping a coin and then buying or selling based on heads or tails can get you into a profitable move,throwing a dart,rolling dice,lunar cycles,pivots,pinbars,MACD etc etc. It's not you entries which are important to success in this business. Entries,no matter...
A method is a bunch of rules that allow you to enter into the market when price is more Likely to go in your direction.
A method may also accounts for exit but to claim that 100% of method on this forum is profitable is total BS.
To claim that one can be profitable flipping and coin and buying or selling and depend on exit is true to some degree , but
IF you can be profitable from your exit , then you can also be profitable from your entry therefore you contradiction your entire claim.
A method consist of both entry , exit and money management .
Anyone that claim money management can give you a significant edge in the market is trolling. 9 however once you have an edge you can twist money management in many way to increase the speed by which you acquired your wealth.
Again I do not need you to come here , to tell me I am wrong. I have a active TE for that , If i am delusional the TE will show it.
So Far I have made many mistakes , pay a significant amount of my profits to the spread , and the account is still green.
However I do agree with you to some extend and thank you for sharing your knowledge.
  • #30
  • Aug 16, 2018 11:44am Aug 16, 2018 11:44am
Quoting loozers
{quote} Try mindfullness {image}
Yip happen to me a few time , my stop loss is usual under 3 pip and you can see quite a few time my loss was a bigger.
However since the leverage change rules , I have been trading at max leverage so I never have the issue of adding to a loser.
And I have a emergency automatic stop loss for when my emotions run wild.
  • #31
  • Aug 16, 2018 12:37pm Aug 16, 2018 12:37pm
Quoting llxx77dd
{quote} yeah!!! looks like we have many aha traders in this forum who break the markets code i wonder why we still read about a 95% or 75% or whatever percent of losers each day on this biz ?? i wonder too why all strategies and tools on this forum like any other forum are rookies, rubbish and cookie talk ??, sometimes u cant see that before a year from using it yea i wounder about a lot of things, maybe ill call my self the wonder man

My AHA moment took 2.5 long years when I took a break from this forum, wore my quant hat, learned how to code from scratch from 1000s of freely available mq4 files and set the path to eliminate everything I know/learnt thus far from my manual trading of over a decade. (after turning into a breakeven trader!) It was painful, frustrating, treacherous, torturous but I survived till the end till I got all the answers I needed. A partial reflection of my journey here. It is the only way to detox your mind from the clutter.
Staying in my lane...
  • #32
  • Aug 16, 2018 6:23pm Aug 16, 2018 6:23pm
Quoting Nivad
Here's a real ah ha moment for you. A method is just a bunch of rules that get you into a market in (hopefully) the direction the market is moving or going to move. 100% of the methods here can be profitable. 100% of the methods here can get you into a profitable move sometime or the other. Flipping a coin and then buying or selling based on heads or tails can get you into a profitable move,throwing a dart,rolling dice,lunar cycles,pivots,pinbars,MACD etc etc. It's not you entries which are important to success in this business. Entries,no matter...
Oh man, that really is something I have not really thought about.

Don't look at the entry point look at where your exit is going to be. Thank you good sir.
  • #33
  • Aug 17, 2018 12:28am Aug 17, 2018 12:28am
why do idiots think they are genuises?

A study of the dunning kruger effect

In the field of psychology, the Dunning–Kruger effect is a cognitive bias in which people of low ability have illusory superiority and mistakenly assess their cognitive ability as greater than it is.

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  • #34
  • Aug 17, 2018 2:25am Aug 17, 2018 2:25am
Quoting loozers
why do idiots think they are genuises? A study of the dunning kruger effect In the field of psychology, the Dunning–Kruger effect is a cognitive bias in which people of low ability have illusory superiority and mistakenly assess their cognitive ability as greater than it is. https://www.youtube.com/watch?v=4Y5ia2CEt5c&t=904s
I am an idiot and I definitely don't think I am a genius but I know an idiotic genius when I see one becos as an idiot it is easy for me to know another idiot especially those idiot who actually think that he is a genius.

Hehe
  • #35
  • Aug 17, 2018 2:45am Aug 17, 2018 2:45am
Quoting genghistar
{quote} I am an idiot and I definitely don't think I am a genius but I know an idiotic genius when I see one becos as an idiot it is easy for me to know another idiot especially those idiot who actually think that he is a genius. Hehe

Who wants to teach these amateurs who fink they are forex traders , they know everything ie 3 moving averages & bunny cross , they are too dumb to realize their lack of psychological mental skills?

Nobody like losing , they can't handle it after losses.
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  • #36
  • Aug 17, 2018 2:57am Aug 17, 2018 2:57am
Despite the negative TE ,
The pattern does seem to be present.
However my entries are always late as the I'm not used to the 1 min chart.
Mistakes are still be made and improvement are being noted.
Have taken over 60 trades in less than 2 days , And have already paid 1.20 x 60= $72 in spread.
several trades time price spiked before I could place my stop-loss resulting in additional losses.
Many of these problem would not occur on the larger time frame.
The goal remain the same - be in the green after 100 trade despite all these obstacles.
  • #37
  • Aug 17, 2018 3:02am Aug 17, 2018 3:02am
Yes, we are idiots.

At least those who are still enthusiastic about trading technicals.
Because it's no possible edge on Technical Analysis in years!
Why? Because is plain to see that trading it's just a 50-50% game!

Oscillators are showing overbought/sold "exhausting" situations,
MAs gives a hint about trends,
Pivots about Support/Resistances,
...all tech indies are supposed to create and edge above that common 50%.
But they're actually not. You always got 50% chances!
True, it takes few thowsands trades and years to realise there's no edge in techs on long term and the holy fkn grail is an illusion!

My favorite mistake is that Risk-Reward-Ratio tecnique
People really think that for instance, a RR 1:2 creates an edge.
Obviously not.
Because it's true, the final positive result is twice bigger than the negative one.
So, statistically, if you play 100 games, 50 shots will bring you -1$ and 50 will bring you +2$. Huge edge there?
Seriously?! The mistake is that you never thought that SL has 66% to get hit and the TL has only 33%. (the same with other ratios)
That makes the all sh!t even.
No edge!

It's all a "gambler's fallacy" deal.
Apparently a trend creates an edge.
All can think like: "If all the people buy something, you as well have more chances to win buying".
No.
You have always 50% chances to win, and 50% chances to lose.
For the gambler's God sake, don't be an idiot!!!

The good news is that is all legal
We're addicted gamblers and we are still free to do whatever we want with our own money !

Well, the fundamental swing trading it's a different story...
Those who can read monetary policy subtilities or stocks ground info on long term, may get some ...edge.
But unfortunately, they are only about 5%

Trade cool, folks!
Member
  • #38
  • Aug 17, 2018 4:45am Aug 17, 2018 4:45am
let me explain your case since i am your doctor

now you in stage that every trader go through it ..... thinking you found perfect something and you can full your pockets with cash

but later market will slap you and wake you up .

and if you found system that you can make profit from it after few years in market that's mean it's not easy

we are not idiots that world is really hard.... and need a lot of work to be successful
  • #39
  • Edited 5:10am Aug 17, 2018 4:53am | Edited 5:10am
Traders are not idiots , traders are humans with emotions , humans need money , it is a necessity.

The problem is the charlatan educators indirectly employed by broker money, they posted 3,000 systems give you hope, that you could make money.They gave you hope ,you could sit and do work , and get paid every week i.e they sold you a weekly paycheck formula. A nice thing , if you could click your mouse twice a day , and do no work. Clicking a mouse is not trading , you require mental and technical skills , trading is a mental game.

This is the hardest game to play , because the way your ancestral brains are developed , traders are subconsciously wired to lose in the markets. Trading psychology and mental coaching are the first skills required to be taught to new traders.Here there is not even a psychology section, most forums have them.

The alternative is to buy a trade manager EA or have one made , it will manage trades and eliminate psychological issues of trading. It can even look for trade entries. One can go further and develop fully automated eas/robots.I Am sure coders on the mql5 site will code a dozen eas for under $1,000 , then one can trade automatically for life , without psychological issues.

Take an example , money is a necessity, if a trader sat down to make money, but he loses , he is going to get angry and lose discipline. Forget the charlatan educators like Elder & Tharp, they are hiding a lot of information , just to sell books, courses, seminars and education, all these charlatans are trading failures. They told you to be disciplined, but it is not easy, they failed to maintain discipline and failed at trading, yes the fakes who wrote books .

Traders will keep behaving like idiots , until they are fully automated.




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  • #40
  • Aug 17, 2018 5:00am Aug 17, 2018 5:00am
I'll rest my case
Brokers, Casino managers, OTB owners, bankers, ...they all laughing at you right now, you idiots!
Just shut up and make them happy!
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