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To be successful... cut out the noise

  • #21
  • Dec 24, 2019 11:13pm Dec 24, 2019 11:13pm
Quoting j12
I wrote this on another thread The things I care about Two things matter to me. These are the only figures I look at initially Profit % Growth Things I do not care about I do not care about Z factors I do not care about drawdowns I do not care about profit factor I do not care about the people who have spent 1000's of hours doing back testing I do not care about pips I do not care about the signal givers I do not care about EAs I do not care about the people crying about brokers cheating them I do not care about VPS Virtual private Servers I do...
Dear j12,

Thanks for sharing your views and some of your journey. Something that had been a growth point for me this year is understanding how something will have a totally different meaning for two people, even though it is the same word or concept.

Here in your thread you talk about linking success with removing noise and describe noise as being indicators, external people without proof, large amounts of data and chart time. So, noise would have a much personal meaning to us and cutting it out like KP mentioned could improve performance. There is also a mention of psychology here and something that stood out to me was the quote shared by you and an image "stay hungry. Stay foolish.". So I will kindly share my view and hope you or anyone else that gets that quote caught in their subconscious can see it from a different view then they would have initially.

Lets start with an analogy;
A chef dreams to have a restaurant that does very well and has many customers.
The chef thinks to them selves - What is most important to me to achieve that?
Is is Profit? that the restaurant makes so much money? That would mean the restaurant is doing very well like chef's dream...
Is it % Growth? that the restaurant customer growth goes off the charts? That would mean the restaurant is doing very well like chef's dream...

No! the chef thought.. These are only the outcomes of success.
Arriving at a new question of- What journey can I take to reach those outcomes?
So, working backwards the chef thought what would lead to profit. It is having customers, thinking further the chef arrived at the FOOD! Yes the good food will lead to customers and in turn will generate profit and growth.

So the chef worked so very hard on their quality, presentation and consistency of their food and ignored random negative critics. Several years later the chef achieved their dream of the restaurant is doing very well.
The end

The whole reason I mention that little analogy story is that it is important to figure out the right important things to care about. The chef was able to figure out that the food was the right important thing to achieve the goal of profit. Not only that, by not making the random negative reviews an "important thing" and instead ignoring it, which could have made them give up before they could achieve their dream.

Now like promised, my view of the quote..
Stay Hungry. <- Love this part, I see it as being hungry to achieve my dream/ goal, giving reason to find important things that will get me there.
Stay foolish. <- Not so much, if your minds picks up on this word and in our beliefs we label ourselves as a fool.. We will become a fool.. and my understanding of fool is associated with negative attributes.

So I propose a minor change to think of it this way;

Stay Hungry.
Stay Focused.

This way instead of our subconscious picking up on "fool", it will pick up on "focused" and it one thing we lack as humans is focus. Focus we can use to target the important things we have identified and work towards achieving them.

I hope this helps, please have an awesome holiday season and New Year everyone.

Kindest Regards,
K
&quot;Work hard, put in the effort, and follow your dreams...&quot; -Me
  • #22
  • Dec 24, 2019 11:55pm Dec 24, 2019 11:55pm
Quoting tzamo
{quote} Dear j12, Thanks for sharing your views and some of your journey. Something that had been a growth point for me this year is understanding how something will have a totally different meaning for two people, even though it is the same word or concept. Here in your thread you talk about linking success with removing noise and describe noise as being indicators, external people without proof, large amounts of data and chart time. So, noise would have a much personal meaning to us and cutting it out like KP mentioned could improve performance....
Great view. You agreed with the awesome opinion of the OP and drove the point home perfectly.
  • #23
  • Dec 25, 2019 2:23am Dec 25, 2019 2:23am
merry christmas guys
FX Trader
  • #24
  • Edited 3:27am Dec 25, 2019 2:33am | Edited 3:27am
Quoting tzamo
{quote} Dear j12, Thanks for sharing your views and some of your journey. Something that had been a growth point for me this year is understanding how something will have a totally different meaning for two people, even though it is the same word or concept. Here in your thread you talk about linking success with removing noise and describe noise as being indicators, external people without proof, large amounts of data and chart time. So, noise would have a much personal meaning to us and cutting it out like KP mentioned could improve performance....
Thank you dear friend for your kind words. The quote Stay Hungry, Stay Foolish is a quote said by an extremely successful man.

A man called Steve Jobs, quite possibly the single most influential man we will probably come across in our generation.

He said this in 2005, during his famous commencement speech at Stanford University. Steve Jobs quoted the farewell message placed on the back cover of the 1974 edition of the Whole Earth Catalog: "Stay hungry. Stay foolish."

The meaning of this....
STAY HUNGRY means never be satisfied and always push yourself. STAY FOOLISH means do or keep willing to keep trying the things people say cannot be done.

And it's exactly what I'm trying to point out here in FX. People will say things, you can't do this, you can't do that, I know, I'm the teacher, I've got 500 followers etc...

Also just don't read what I'm saying as gospel, please take a moment to think, research & question why is this crazy fool saying what he's saying.

On another point, let's take this moment to appreciate a man who's vision, has probably had an impact on all of our lives at some point.

"Stay hungry. Stay foolish."
Attached Image
J12
  • #25
  • Dec 25, 2019 2:50am Dec 25, 2019 2:50am
Quoting j12
{quote} Thank you dear friend for your kind words. The quote Stay Hungry, Stay Foolish is a quote said by an extremely successful man. A man called Steve Jobs, quite possibly the single most influential man we will probably come across in our generation. He said this in 2005, during his famous commencement speech at Stanford University, Steve Jobs quoted the farewell message placed on the back cover of the 1974 edition of the Whole Earth Catalog: "Stay hungry. Stay foolish." The meaning of this.... STAY HUNGRY means never be satisfied and always...
Ahh awesome, thank you. Not something I had come across before and appreciate the reference
&quot;Work hard, put in the effort, and follow your dreams...&quot; -Me
  • #26
  • Dec 25, 2019 2:53am Dec 25, 2019 2:53am
Quoting tzamo
{quote} Ahh awesome, thank you. Not something I had come across before and appreciate the reference
No problem friend, and thank you for reading, you make some valid points. I'm not perfect by a long shot and probably do get misunderstood in what I'm saying.


Thank you
J12
  • #27
  • Dec 25, 2019 3:28am Dec 25, 2019 3:28am
Quoting alphabear
{quote} Great view. You agreed with the awesome opinion of the OP and drove the point home perfectly.
Thank you for taking your time to read.
J12
  • #28
  • Dec 25, 2019 3:33am Dec 25, 2019 3:33am
I just want to say in what I'm saying it's not intention to offend anyone, I know what I'm saying may sound harsh or maybe not what people want to hear. Probably against everyone else is saying, but it's just my views

I apologise in advance if I come across this way.

Thank you
J12
  • #29
  • Dec 25, 2019 3:51am Dec 25, 2019 3:51am
Quoting j12
I wrote this on another thread The things I care about Two things matter to me. These are the only figures I look at initially Profit % Growth Things I do not care about I do not care about Z factors I do not care about drawdowns I do not care about profit factor I do not care about the people who have spent 1000's of hours doing back testing I do not care about pips I do not care about the signal givers I do not care about EAs I do not care about the people crying about brokers cheating them I do not care about VPS Virtual private Servers I do...
>>> I do not care about gurus who post all day long without proving themselves with a trade explorer


Your explorer shows you're really a great trader.
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 12.0%
  • #30
  • Dec 25, 2019 4:16am Dec 25, 2019 4:16am
Quoting 9jatrader
{quote} >>> I do not care about gurus who post all day long without proving themselves with a trade explorer Your explorer shows you're really a great trader.
Thank you dear friend, we are all great traders, maybe not in Forex, but just in life. Everyday you're trading, you're trading your labour in exchange of money. You've got this far in life to be reading this, you've traded well.
J12
  • #31
  • Dec 25, 2019 4:26am Dec 25, 2019 4:26am
Hello, thank you for your trade opinions, I don't undrstand well all because my english isn't very good.

I think is a travel that you can focus with very different ways. I think the important is believe in yourself. No worries if people say to you, is very difficult, you will lost

your money, you can't do that, I think these is the really noise. I think if he can do it I can do it.

I started like j12 and like I think like other people here testing and don't get discouraged. Here in Spain when I was childres to learn to take a bicycle my mother put into rear wheel another two wheels in each side of the main wheel to have equilibrium and when I confident she remove one of a little wheel and when i was more confident then my mother remove the oher little wheel and then I could take my bicycle alone I think is a way.

I'm stay focus and I'm foolish to other people

Thank you for your comments and opinions is very interesting

Happy Christmas

Have a nice days with your families
Merry Christmas
  • #32
  • Dec 25, 2019 4:51am Dec 25, 2019 4:51am
Another thing that confuses me is the general thought around drawdown. People say, what's your drawdown, your drawdown is to high, your trading is not good, your drawdown is really low, your trading method is amazing.

How is one coming to these assumptions?

I personally do not care about drawdowns. Drawdowns in my view are the ability for you to prove to yourself that your method of trading can go so far and then come back. It's robust

You're going to get drawdown, in any walk of life. In any business, job, economy, you'll get drawdown. No matter what. It's amazing reading some threads that people are trying to make systems that only have so called 5%, 10%, 15% or 20% drawdown. Why are you even wasting your valuable time doing this.

If I applied this kind of mentally in my actual business I would fail. And this is a business believe me. What you're actually doing is putting the odds of success in your favour. When you're putting a trade on somone is putting that exact trade on the other way. It's most likely the broker firm.
Look at this now in ROI terms (return on investment). People say 95% of people trading forex lose. Let's just put that into context, you know your business is going to have an ROI of 95% that's phenomenal. You won't win everything but you'll win close to 95% if this figure is true.

Drawdown is a good thing for your own state of mind. I myself have been almost 75% in drawdown earlier on, AND WHAT, I'M STILL HERE. I've not been in this position because I'm trying to prove something to myself. No one wants to be in a position like that intentionally it's because I made a mistake. But you learn and if anything it gives me more confidence. Confidence that you can get through major events like brexit, you can get through a general election. You're still coming out on the other side, year after year.

It simply does not bother me, again this helps you be successful, because you've simply cut this noise out. A noise in your head...
J12
  • #33
  • Edited 5:31am Dec 25, 2019 5:19am | Edited 5:31am
Again to the reference to the quote "stay hungry, stay foolish" by Steve Jobs, it's actually what I have on my lap top as a desktop wallpaper.

No matter where I am in the world, no matter if I'm in Hong Kong, Shanghai, Beijing, Mumbai, Rio De Janeiro, London, Seoul, Germany, Sydney, Singapore, Melbourne etc as soon as I sit down & open my laptop the message is exactly the same.
Attached Image(s) (click to enlarge)
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J12
  • #34
  • Dec 25, 2019 5:49am Dec 25, 2019 5:49am
Quoting j12
Another thing that confuses me is the general thought around drawdown. People say, what's your drawdown, your drawdown is to high, your trading is not good, your drawdown is really low, your trading method is amazing. How is one coming to these assumptions? I personally do not care about drawdowns. Drawdowns in my view are the ability for you to prove to yourself that your method of trading can go so far and then come back. It's robust You're going to get drawdown, in any walk of life. In any business, job, economy, you'll get drawdown. No matter...


This is not important for me also, if market go against me, i see like I will win more to the market.

i had a 80% drawdown into my account because was little but if you have an account an a good money management you can have a big drawdowns without any

problem.

The important thing is be profitable. I think

Thank you for your reflections.
  • #35
  • Dec 25, 2019 5:53am Dec 25, 2019 5:53am
Quoting jaimeale
{quote} This is not important for me also, if market go against me, i see like I will win more to the market. i had a 80% drawdown into my account because was little but if you have an account an a good money management you can have a big drawdowns without any problem. The important thing is be profitable. I think Thank you for your reflections.
You are 100% spot on dear friend
J12
  • #36
  • Dec 25, 2019 6:46am Dec 25, 2019 6:46am
Quoting j12
{quote} You are 100% spot on dear friend

Thank you for your words dear friend.

I thin you are doing well, I don't think that if you have a 75% drawdown you did wrong, because it's possible any news, any tweet from trump etc. I thought if my trade go faster on the side i like well but if go against me, I thought another posibility to win more, no problem i trust in my system, is not perfect but I'm trust in it. If not at the first attemp will be at the second

I think like you only 10% of drawdown you are looking for a perfect system really if you find good but is very very difficult I dont like manage any account with more money because like you say is more noise to my mind and i don't like this.

Thank you is grateful read about you j12 and other traders

Stay hungry
Stay foolish

  • #37
  • Dec 25, 2019 6:51am Dec 25, 2019 6:51am
Quoting YYZ
{quote} in my opinion market makers trade on same way any time frame...If they don't it would be random trading which is not the case..... based on posted charts in this thread people scalping on M1 and M5
Excellent to have your opinion. Great to see a thread with many charts, does the thread have any trade explorers over time period of time, that is proven??
J12
  • #38
  • Dec 25, 2019 7:11am Dec 25, 2019 7:11am
Quoting j12
{quote} Thank you dear friend for your kind words. The quote Stay Hungry, Stay Foolish is a quote said by an extremely successful man. A man called Steve Jobs, quite possibly the single most influential man we will probably come across in our generation. He said this in 2005, during his famous commencement speech at Stanford University. Steve Jobs quoted the farewell message placed on the back cover of the 1974 edition of the Whole Earth Catalog: "Stay hungry. Stay foolish." The meaning of this.... STAY HUNGRY means never be satisfied and always...
j12, What an outstanding thought provoking thread you have my friend. Much to ponder over during the Christmas Holidays. You are correct about Steve Jobs & his wisdom. He was extremely successful & brilliant having very few peers.
Thank you for sharing your thoughts & views. Best of Trades To You!
  • #39
  • Dec 25, 2019 8:26am Dec 25, 2019 8:26am
Where did this chap go after posting this post...tut
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J12
  • #40
  • Dec 25, 2019 8:27am Dec 25, 2019 8:27am
Quoting acetrader
{quote} j12, What an outstanding thought provoking thread you have my friend. Much to ponder over during the Christmas Holidays. You are correct about Steve Jobs & his wisdom. He was extremely successful & brilliant having very few peers. Thank you for sharing your thoughts & views. Best of Trades To You!
No problem, thank you for reading dear friend.

J
J12
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