Inside the mind of a chronic complainer! | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Chronic illness of FF "mythomania" 17 replies

Trading is a mind game - by Forex Mind Games 2 replies

The Expert Mind 6 replies

On Keeping An Open Mind 15 replies

The Mind of the Market -- Book Review 0 replies

Inside the mind of a chronic complainer!

  • #1
  • First Post: Oct 25, 2006 11:46pm Oct 25, 2006 11:46pm
Some people say that they are an advocate for KISS systems but I have not yet found one that work without any complicated tweaks and mod. Every time some one come out with a simple system ... it get modified and discussion would began with what sort of add on like filters should we have to ensure the simple system will generate better signal. I am too lazy follow up on the changes. Can't someone just post a FINISHED system and say this is how it is and no one should change it?
  • #2
  • Oct 26, 2006 12:29am Oct 26, 2006 12:29am
Hehehe seems you are missing the same point as those that you are complaining about. I have seen many "complete" systems posted here at FF, yet over and over again people feel the need to "improve" it .. which of course mean they aren't prepared to trade it for long enough to really give it a good test to see if it works as the author says.

Can anyone say Mouteki?
You can quit and they won't care, but you will always know.
  • #3
  • Oct 26, 2006 12:46am Oct 26, 2006 12:46am
Quoting Akuma99
Hehehe seems you are missing the same point as those that you are complaining about. I have seen many "complete" systems posted here at FF, yet over and over again people feel the need to "improve" it .. which of course mean they aren't prepared to trade it for long enough to really give it a good test to see if it works as the author says.

Can anyone say Mouteki?
AMEN to that Akuma! Newbies have an irresitable urge to begin tweaking a new system after a handful of trades in a vain attempt to filter out the losing trades. They haven't yet learned that losing trades are unavoidable and they haven't learned that individual trades are meaningless. This keeps them from trading the vanilla system, as written, for at least 100 trades before even considering a tweak. And then, the most likely thing needing tweaking is not the method.....it is the trader!

Thanks Akuma! I really enjoy your posts!

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #4
  • Oct 26, 2006 1:16am Oct 26, 2006 1:16am
Quoting nitman
Some people say that they are an advocate for KISS systems but I have not yet found one that work without any complicated tweaks and mod. Every time some one come out with a simple system ... it get modified and discussion would began with what sort of add on like filters should we have to ensure the simple system will generate better signal. I am too lazy follow up on the changes. Can't someone just post a FINISHED system and say this is how it is and no one should change it?
give me your e-mail I will send you my complete (no need to change) system.

Its called Ewocci and I haven't changed a thing in months and shouldn't ever need to.

It is complete with instructions, indicaters, and template.

and its simple too.

Dave
  • #5
  • Oct 26, 2006 1:19am Oct 26, 2006 1:19am
Quoting diallist
. And then, the most likely thing needing tweaking is not the method.....it is the trader!



Dial

  • #6
  • Oct 26, 2006 2:49am Oct 26, 2006 2:49am
Quoting diallist
...

And then, the most likely thing needing tweaking is not the method.....it is the trader!
...
Dial
A working belief system is as important as a working trading system imo.
Maybe it can feel unconfortable, but a good starting point is to be certain that certainty doesn't exist (Douglas again). TA is a tool to watch the markets, but let's not forget what the subject of our observation is, we are looking at the stream of decisions of a living mass of people.
Personally I've come to the conclusion that I want to avoid the search for a perfect tool (or a holy grail if you like) to work instead on learning the art of profiting from uncertainty.
Popper wrote a pamphlet where he said that if there were just one person who could make perfect decisions the world should accept his dictatorship at once as he would resolve all the imbalances with his perfect wisdom. Such a person cannot exist so we as a collectivity must rely on less than perfect decisions and constant monitoring ... (... Soros view of economy evolved at least partially from Popper's work)
To feel comfortable with my less than perfect tools I find necessary to fight against my desire for quick profits (#1 demon - MM the talisman), to avoid unclear setups (I want to grow my capital, don't give a #@§! about being Delphi's oracle) and to to track in good detail every decision I make as this keeps me focused on the long run. It's all about risk.


Good morning and Happy Trading
QG
  • #7
  • Oct 26, 2006 3:04am Oct 26, 2006 3:04am
Quoting QuestionGuy
TA is a tool to watch the markets, but let's not forget what the subject of our observation is, we are looking at the stream of decisions of a living mass of people.
Great line! And a great post too QG!

Who be Popper?

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #8
  • Oct 26, 2006 3:24am Oct 26, 2006 3:24am
Thanks Dial !
I really believe the main issue in trading (in life in effect) is learning to acknowledge and accept one's belief system.
I was talking about Karl Popper, among the greatest philosophers of the past century, he's best known for being the author of 'The logic of scientifical discovery', where he (please, please excuse my brutal oversimplification) says that science can : make UNCERTAIN (by definition) hypotesys, or falsify them, and the only process that can claim certainty is the falsification process.
He's also the creator of the idea of Open Society, which now is Soros flag. Moving from the concept of fallibility as a known characteristic of human decision making process society needs absolute transparency and working feedback mechanisms.

QG
  • #9
  • Oct 26, 2006 3:27am Oct 26, 2006 3:27am
Quoting nitman
Some people say that they are an advocate for KISS systems but I have not yet found one that work without any complicated tweaks and mod. Every time some one come out with a simple system ... it get modified and discussion would began with what sort of add on like filters should we have to ensure the simple system will generate better signal. I am too lazy follow up on the changes. Can't someone just post a FINISHED system and say this is how it is and no one should change it?
that was a good one short and to the point hahah !!
BECAUSE I CAN !
  • #10
  • Oct 26, 2006 3:28am Oct 26, 2006 3:28am
Quoting xxDavidxSxx
give me your e-mail I will send you my complete (no need to change) system.

Its called Ewocci and I haven't changed a thing in months and shouldn't ever need to.

It is complete with instructions, indicaters, and template.

and its simple too.

Dave
mine sending me your thing?? im a moutakie fan.. but id really like to know your method too.. thanx.. my email is [email protected]... there are 2 underscores in it
BECAUSE I CAN !
  • #11
  • Oct 28, 2006 1:35am Oct 28, 2006 1:35am
Ahh now I see! ::light bulb moment:: It's okay to modify a system after a long period of use. The mistake newbies are making is trying to fix something after a one losing trade. However, in a developmental period of a system ... people are constantly coming up with ideas to add to the system.

Now I need a list of system that the pro are using, pick one, and stick to the original rules.

I heard Bunnygirl (BGX) was good and there's quit a bit of people trading with it for a living. I think that one fall into the KISS category...
  • #12
  • Oct 28, 2006 9:02am Oct 28, 2006 9:02am
Quoting nitman
Ahh now I see! ::light bulb moment:: It's okay to modify a system after a long period of use. The mistake newbies are making is trying to fix something after a one losing trade. However, in a developmental period of a system ... people are constantly coming up with ideas to add to the system.

Now I need a list of system that the pro are using, pick one, and stick to the original rules.

I heard Bunnygirl (BGX) was good and there's quit a bit of people trading with it for a living. I think that one fall into the KISS category...
Hi nitman,

There are some good FINISHED systems here:

http://www.forexfactory.com/forexfor...ead.php?t=3689

Pick one and trade it on demo until you've seen it in a wide variety of market conditions before trading it live. No need to modify these systems, so resist the urge.

The BGX is there, along with the updated BGX document. I also recommend the two Muddbuddha systems. Anything from Mudd is good stuff!!

Have fun!

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #13
  • Oct 28, 2006 10:16am Oct 28, 2006 10:16am
You guys are crazy?! You want a finished system?? Come on! Don't you guys know the point of any system?! No? Ok, I'll tell you step by step what they are:

1) Develop a system that makes money

2) Tell it to people

3) Suggest that tweaks are recommended

4) Tweak it until either it
a. gives a trade once a year (or less, don't want to get trigger happy)
b. bumps out trades by the minute (or more, don't want that trigger finger to get out of shape now)
c. stops signaling trades altogether but makes a fine cup of coffee
d. starts losing money slowly
e. bends you over your keyboard and has it's way with your account

5) Now is definitely time to bitch, bitch, bitch about it

6) Start over, but this time, you're 'smarter', and more 'experienced' (still '4b' through '4e' to try if you or whatever other choice is left)

These are the six commandments of system development, burned onto the tablets and were prophesized to be heeded by 90% of traders. Do you want to be an outcast? Huh, do you?! Of course not, who wants to be a segregated 10% in life?
  • #14
  • Oct 28, 2006 11:22am Oct 28, 2006 11:22am
Quoting theoldinout

1) Develop a system that makes money

2) Tell it to people

3) Suggest that tweaks are recommended
But that's for developing a system ... are you constantly tweaking the system you're trading so it won't lose money in the long run?
  • #15
  • Edited 1:05pm Oct 28, 2006 12:01pm | Edited 1:05pm
All the systems (TS) fail. Choose one, increase statistics,changes, trust it, and be happy



[]īs
Marcelo
__________________________________
**400MB FREE FOREX EBOOK**
  • #16
  • Oct 28, 2006 12:52pm Oct 28, 2006 12:52pm
Quoting nitman
But that's for developing a system ... are you constantly tweaking the system you're trading so it won't lose money in the long run?
Lose money in the long run?! Are you nuts, I want to lose money right away, that way I know the 'system' is doing it's job
  • #17
  • Oct 28, 2006 11:42pm Oct 28, 2006 11:42pm
Quoting nitman
But that's for developing a system ... are you constantly tweaking the system you're trading so it won't lose money in the long run?
Nitman, theoldinout was being facetious! (being silly and not serious) Those six "rules" are what a trader shouldn't do. If you follow them, it means you are one of the 90% and will always be a loser.
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #18
  • Last Post: Nov 3, 2006 10:07am Nov 3, 2006 10:07am
REVISION AGAIN! Someone's messing with the number or they were just too lazy and are falling behind in counting how many jobs were created two months ago. I knew the first spike up was the "head fake" and sold on the euro/us on its way down. Damn the spread though. I knew I should have gambled and enter a short before the news come out. They were inching down an hour before the release....
0 traders viewing now