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In One Sentence - How Do You Trade?

  • #541
  • Oct 29, 2021 8:39pm Oct 29, 2021 8:39pm
Quoting 4for4
{quote} A system or strategy will eventually fail as long as it contains predictive factors that need discretionary decisions …


In these kinds of discussions I have learned that it is useless and circular to take sides as the discussion potentially turns into an argument. What I can say is this - from my many years of personal and professional experience, trading MUST have BOTH anticipative and systemic awareness and understanding. Big words but basically this - a trader is a person seeking to advantageously look to the future, a future based on the idea that it contains certain normalizing traits and conditions, so they can profit in some way from the opportunity presented, be it short term or long term. To do this well or VERY well, requires more than math, more than a "system" or a set of combined tactics that deem something "profitable". It requires a taste of real life. But because MOST people who try their hand at trading, be it speculative or investive in nature, have never had that taste of real life through the eyes of the financial world, they make assumptions, they make opinions, they make mistakes. These things they make that I have just mentioned are not necessary, that is, they need not happen ever. But, they DO keep happening because most people wield assumptions in their trading in exactly the same way they do in their real life, as fact or more specifically ... 'substance'.

An eg. - An analogue clock MUST have 12 numbered 'sections' to its face and its working conditions. If you remove 1 or 2, then you will find it stumbles and falters. That's as simple as I can say it. Trading is exactly like that.

I find many people put themselves in a 'Catch-22' position because they carry natural or artificial ignorance towards many things re: life.

As you say, a system or strategy (or methodology), can/will eventually fail, but that is only part of the story here. It's the responsibility of the person to know when to override what is 'programmed' into their approach.

This whole thing of 'be systematic' or 'be discretionary' is really a mute idea. Why? An EA or 'system' has no feelings about the outcome, about the trading account, about you and your life. But you do and will. 'The market' doesn't care if you've "got your shit together" .... or not. It deals only with intention and process. If a system or strategy fails it is because the 'driver' is not aware of something, is not competent enough or cannot control themself and relax and manage their feelings and emotions. No exclusion of emotions is necessary.

What I see is people trying to evade all this and avoid dealing with these things. Of course this is not me 'telling people' what to do here it's merely based on real life observations and experience so I guess it depends on what a person values.... go mainstream, go contrarian or do it properly.

I hope that helps.


Peter
Real Trading is not gambling.
  • #542
  • Oct 30, 2021 5:13am Oct 30, 2021 5:13am
If your aim is to help fellow FF members, as I believe you are trying to do, my advise is that you ignore useless arguments, such as the one you referenced.

KP

Quoting PeterCaleb
{quote} In these kinds of discussions I have learned that it is useless and circular to take sides as the discussion potentially turns into an argument....
Do your homework, follow the footprints of smart money
  • #543
  • Oct 30, 2021 8:32am Oct 30, 2021 8:32am
All levels in my trade plan are either existing or calculated ... (not guessed nor predictive)
Market is not random but unpredictable
  • #544
  • Oct 30, 2021 9:07pm Oct 30, 2021 9:07pm
Quoting KeenPips
If your aim is to help fellow FF members, as I believe you are trying to do, my advise is that you ignore useless arguments, such as the one you referenced. KP {quote}


There's nothing useless about ignorance. If I want to learn to walk, I must first see where that first step will land. The plethora of mirages in the financial and trading realm, are so vast, that 'normal people' have no hope of navigating it unless they adhere to the real life elements involved. When people cover up their thinking (or lack thereof) with excuses and justifications, THAT is when fortunes are transferred.

A single context is suicidal. There's no genius in this recognition, just basics of Life. But "google" will never tell you this. Hence the reason why I choose to say what I do. When something has been witnessed 1000 times (or more) concurrently and continuously, it no longer qualifies as coincidence.

Just my inputted contribution.


Peter
Real Trading is not gambling.
  • #545
  • Oct 30, 2021 10:47pm Oct 30, 2021 10:47pm
@petercaleb, my advice is about ignoring useless arguments such as the one you referenced earlier. I never talked about ignorance. At any rate, let's stay focused on the theme of this thread.

KP
Quoting PeterCaleb
{quote} There's nothing useless about ignorance....
Do your homework, follow the footprints of smart money
  • #546
  • Oct 30, 2021 11:30pm Oct 30, 2021 11:30pm
As a medium term swing trader, the first thing I look for when deciding which market to trade is directional alignment of market operation on both the monthly and weekly time frames.

KP
Do your homework, follow the footprints of smart money
  • #547
  • Oct 30, 2021 11:56pm Oct 30, 2021 11:56pm
Quoting KeenPips
@petercaleb, my advice is about ignoring useless arguments such as the one you referenced earlier. I never talked about ignorance. At any rate, let's stay focused on the theme of this thread. KP {quote}


I understand that. What I see is more and more people calling what they do "trading" when it fact it's nothing but speculation. For me there is no useless point of argument. People don't learn by pre-judged omission. But I am not trying to overstep here, merely pointing out certain real life growing trends in people. Please continue as you were. Thank you for allowing me to post here.


Peter
Real Trading is not gambling.
  • #548
  • Oct 31, 2021 5:14am Oct 31, 2021 5:14am
Quoting PeterCaleb
{quote} I understand that. What I see is more and more people calling what they do "trading" when it fact it's nothing but speculation. For me there is no useless point of argument. People don't learn by pre-judged omission. But I am not trying to overstep here, merely pointing out certain real life growing trends in people. Please continue as you were. Thank you for allowing me to post here. Peter
I totally disagree with you.
you are always looking for the fault in the person why you can't solve this puzzle. in fact, the market situation is so complicated that even a highly skilled genius gives up the lesson.
though it would only be so simple that it’s just about what kind of people we really are.
  • #549
  • Oct 31, 2021 7:19am Oct 31, 2021 7:19am
No arguments mates. The bottom line is that we trade differently. Really, it's not about who is right or wrong but how we handle the markets.

KP

Quoting tiborf71
{quote} I totally disagree with you. you are always looking for the fault in the person why you can't solve this puzzle. in fact, the market situation is so complicated that even a highly skilled genius gives up the lesson. though it would only be so simple that it’s just about what kind of people we really are.
Do your homework, follow the footprints of smart money
  • #550
  • Oct 31, 2021 7:43am Oct 31, 2021 7:43am
Quoting KeenPips
No arguments mates. The bottom line is that we trade differently. Really, it's not about who is right or wrong but how we handle the markets. KP {quote}
Most traders here can write their own books on TA. They lose because of what you stated. They handle the markets poorly. They cannot tolerate discomfort. So, they cut winners and hold losers.
If you are good at something, never do it for free--Joker
  • #551
  • Nov 1, 2021 3:33am Nov 1, 2021 3:33am
Quoting PeterCaleb
{quote}..... What I see is more and more people calling what they do "trading" when it fact it's nothing but speculation.
____
Please educate me about the difference.
L.L.L.T
  • #552
  • Nov 1, 2021 4:02pm Nov 1, 2021 4:02pm
I use timeframe trend analysis with moving averages to identify high r: r opportunities and technical analysis (s / r, patterns, fibonacci) to execute my entry.
  • #553
  • Nov 1, 2021 7:37pm Nov 1, 2021 7:37pm
Quoting KayStreet
{quote} ____ Please educate me about the difference.


To respect this thread and KeenPips, I won't try and do all that here. But what I will say quickly is this - no statistical measurement tells a story, it only offers a glimpse. Only an holistic position or view can offer something in full. Most people get told how to "X-Y-Z" and never question anything. If you want to learn more, go to my profile page and seek the thread I setup about Objective thinking. But I warn you, it's definitely not for anyone with a weak stomach or backbone. Again, thank you Keenpips for allowing me to to post here considering we went a bit off topic.

** No marketing or advertising intended.

Peter
Real Trading is not gambling.
  • #554
  • Nov 1, 2021 11:18pm Nov 1, 2021 11:18pm
Respect, mate!

KP

Quoting PeterCaleb
{quote}...thank you Keenpips for allowing me to to post here considering we went a bit off topic...
Do your homework, follow the footprints of smart money
  • #555
  • Nov 8, 2021 7:31pm Nov 8, 2021 7:31pm
When price reaches a horizontal line, I take the trade in the direction price is crossing the horizontal line.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #556
  • Nov 9, 2021 5:47am Nov 9, 2021 5:47am
Of course, how price breaks through the line, i.e. price momentum, is an important factor.

KP

Quoting TooSlow
When price reaches a horizontal line, I take the trade in the direction price is crossing the horizontal line.
Do your homework, follow the footprints of smart money
  • #557
  • Nov 12, 2021 10:23pm Nov 12, 2021 10:23pm
I am using Bolinger bands and harmonic pattern indicators. When a BB is crossed AND a harmonic pattern is generated. I take the trade with a .01 lot size. Most often this trade continues to go against me for another 30 pips or so. I do use martingale when this happens. I open another trade every 30 pips. My TP's are small amounts for now as I test out this strategy. The worst trade so far had me over 90 pips down. However, it did finally turn around and into a small profit. I have been using this strategy for almost 6 months on the 1-hour TF. I started with a $250 balance and take profits each month with all profits over the original $250. Planning to add another $250 in January to boost the account to $500. Then will try to open trades with .02 lots size. I have been testing that on a demo account for about 1 month and so far no big DD.
  • #558
  • Nov 15, 2021 5:31pm Nov 15, 2021 5:31pm
Quoting jmn5611
{quote} Most traders here can write their own books on TA. They lose because of what you stated. They handle the markets poorly. They cannot tolerate discomfort. So, they cut winners and hold losers.


Sorry jmn5611 but have to call you on that statement as most traders on the internet don’t have the knowledge to write a blog let alone a book on TA. Of course they can write about the stuff they have read that’s located on the internet concerning TA but there is a world of difference between what the average trader knows about TA and the truth.

For example what do you know about turnover types? Or the true role the 21ema can play in trading?

Most people think they can explain price patterns how they are formed and how they are traded and most will quote verbatim what is cited on some website on the internet but alas most of what is written is complete rubbish made up by stock market conmen many years ago to sell to gullible fools.

What about the 21/200 squeeze similar to Bollinger bands but I believe a much better tool for the average retail trader.

Also there are trend gaps or alternate candlestick patterns not forgetting the divergence of the 21ema.

As you can see Jmn there are many things your average trader has no idea about and that is why they fail to become proficient traders.

They lose because they don't know better it's that simple they read a book or website page then believe they can trade with the best. it's no different to a brain surgeon doing surgery whilst reading a copy of the idiot's guide to brain surgery page 1.

Like all vocations you can only learn to trade through education from someone who already has the skill-set mastered and believe me I'm not that fxguy!

Good luck folks!
  • #559
  • Nov 16, 2021 10:57am Nov 16, 2021 10:57am
Tell us, in one sentence: How do you trade?

KP

Quoting thefxguy11
{quote} Sorry jmn5611 but have to call you on that statement as most traders on the internet don’t have the knowledge to write a blog let alone a book on TA. Of course they can write about the stuff they have read that’s located on the internet concerning TA but there is a world of difference between what the average trader knows about TA and the truth. For example what do you know about turnover types? Or the true role the 21ema can play in trading? Most people think they can explain price patterns how they are formed and how they are traded and...
Do your homework, follow the footprints of smart money
  • #560
  • Nov 16, 2021 3:44pm Nov 16, 2021 3:44pm
Hi KeenPips

Over the past 15 years, I have traded the forex using a type of swing approach that I designed and developed myself.

The approach does not employ a trading strategy per se but the concept behind it is to allow the market to create tradable patterns from where I place open positions into the market.

In short, I would describe my trading style as an amalgamation of confluence trading together with a special potpourri of indicators tools and trading practices that help me to both read and analyse the forex chart in order to locate (hopefully but not always) low-risk/high-reward tradable positions in the market.

Happy trading folks!
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