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  • #141
  • Oct 12, 2007 2:38pm Oct 12, 2007 2:38pm
thanks you two - just to say though, my losers arent big - once the trend breaks according to my method i'm out.

when i talk about entries not mattering, all the time i see traders saying "if it gets to 115 i'll buy - when its at 115.20 for example - which means a) they are picking a bottom and b) they are buying weakness. then if the trade does start going their way before they have bought then they want it to come back to them so they can get in - all the time they are in this cat and mouse game.

I dont care about entries as long as they are near enough and my method says buy around here - I just buy and that's it. why would i fight for say 10 pips better off when my average winner is say 300 pips - it just does not matter.

You comment about your entry into a 500 pip move with a 40 pip stop - what would it matter if the stop was 100 pips on a 500 pip move? - it's a 500 pip move whatever way - you are just trying to get it smaller so you can over leverage and make more money on it - you are concentrating on "if it loses" wheras a pro concentrates on does it fit my profile? then i'm in win or lose because I know I win in the long run.

if you look at entries that way (to avoid big losers) you will not be able to help looking at exits that way either (trying to avoid giving back) and you will never reach the 500 pips without closing it anyway.

Stops: i think you see my stops as being my exits - they are not, i dont use stops as exits i use stops as stops should an unforseen event occur like a nutter driving a bus full of semtex into the local gala bingo hall. - that's what stops are for - my system is designed to exit my trades, not a stop. you will see that none of my trades never ever close on a stop (bar two because im trialling a different system right now) there is a system exit based on wether the trend is ended - that's my exit.

check the monitor account and look at my losers - the average is about 60 or 70 pips - hardly a "far away mental stop" is it.

Yes, i let my winners run - but if i didnt cut my losers quickly i wouldnt make money. many of my losers lose less than 10 pips, some of my winners only make 10 pips too.

this month is a prime example - the market hardly has had a decent trend, my accounts have won 10% then lost 10% and is about flat.- but im a trend trader - and in theory trend traders lose money in ranging markets - i havent - ask yourself why.

answer, the few winners i have had have ran and the losers have been relatively small.

anyhow, thanks for the replies, like i say, you have to understand the language i wrote and at the moment you are struggling. read it again in 6 months or a year and see if you have the same answer - bet you dont.

bebop, interesting that you were a trend trader but arent anymore - what do you do now?
https://linktr.ee/Soultrader
  • #142
  • Oct 12, 2007 2:56pm Oct 12, 2007 2:56pm
Quoting SeekingLight

So really you are saying, I started out by doing 1:1 the right thing?
Adding a ps to this- most likely 90% of traders get this right at some time or other and then change.

Trend trading is boring - trading is supposed to be boring but most traders seek excitement. hence you had a strategy to make money but it didn't 'rock your boat' so you changed it.

all depends on what you want out of the market - many people want different things - everyone says 'i want to make money' but in reality a lot actually enter the market for the thrills, the gamble, the excitement, the kudos. true they want to make money but these things take presidence in their mind and the mind fights back.

I have three trading strategies.

I have a long term trend trading method that makes money which satisfies my global aim.

I have a shorter term swing trend trading strategy which pays my wages and makes my clients happy.

I have an even shorter strategy playing 5 15 or even 1 min charts that dont make money at all - in fact it loses money - this is for when i want the fun, the gamble, the risk buzz, the kudos and for the odd revenge trade that my psyche wants.

When i trade that method I know I will lose but I have fun doing it. I have a seperate account for it even. Its like paying for pay as you go TV - it's entertainment, but it's also a safeguard.

The longer I am in this game the less I have accessed that account to the point now where I use it probarbly once every quarter and it's outgrowing it's usefulness.

To make it in this game you must change your focus. as a newbie its fun and new and exciting - if you are to become a professional trader you have to train yourself to have a single goal - to make money full stop.

I would tell you a story about how I learned to do this, but it's late and the wife has just come off the phone (been on 2 hours!) so i'm off to watch rebus. - ask me about it sometime - it may interest you.

Hope this helps.
https://linktr.ee/Soultrader
  • #143
  • Oct 12, 2007 3:15pm Oct 12, 2007 3:15pm
Quoting soultrader
when i talk about entries not mattering, all the time i see traders saying "if it gets to 115 i'll buy - when its at 115.20 for example - which means a) they are picking a bottom and b) they are buying weakness. then if the trade does start going their way before they have bought then they want it to come back to them so they can get in - all the time they are in this cat and mouse game.
This feels like you are talking about people who have no reason to enter or no other than "wanting to be/get in".
Some actually do have reasons and pretty spiffy working entries =)

Quote
You comment about your entry into a 500 pip move with a 40 pip stop - what would it matter if the stop was 100 pips on a 500 pip move? - it's a 500 pip move whatever way - you are just trying to get it smaller so you can over leverage and make more money on it

Spot on so far - more lever = more profit.

Quote
you are concentrating on "if it loses" wheras a pro concentrates on does it fit my profile? then i'm in win or lose because I know I win in the long run.

if you look at entries that way (to avoid big losers) you will not be able to help looking at exits that way either (trying to avoid giving back) and you will never reach the 500 pips without closing it anyway.

But how you got from having a bigger leverage / optimizing profit to losing more or less I do not understand. The aim is to have a consistent amount of risk: 1% e.g.
No matter whether the stop is 5 or 500 pips, risk is adjusted so that it stays constant. Only the leverage changes, not the size of losers.

So how can you fall into the trap of "avoiding big losers" if there are no differing sizes?

The only thing one tries to / should try to avoid is bad trades / setups.

Quote
Stops: i think you see my stops as being my exits - they are not, i dont use stops as exits i use stops as stops should an unforseen event occur

You still have an exposure of min. 0 to max. stop size, plus minus whatever speed you have in access to your broker should your own personal exit criteria be met at any point in time. You have to size your risk accordingly and hence you will have a certain leverage on your trade. You can't enter a trade without having a set size of risk(or a lot size that you're using) - even if you feel you would never fully utilize it and that it is only "theoretical".


Quote
my system is designed to exit my trades, not a stop.
Leverage point remains.

Quote
you will see that none of my trades never ever close on a stop (bar two because im trialling a different system right now) there is a system exit based on wether the trend is ended - that's my exit.

Which is good and works, it just will either have a different gearing or an unprecalculated risk, both which I don't like.

Quote
check the monitor account and look at my losers - the average is about 60 or 70 pips - hardly a "far away mental stop" is it.

Profits to me(do I have to add the "in my humble opinion on all things I post or is it clear I am only stating my singular opinion when I post? I hope the latter...I am not trying to say that I am voicing iron cast realities..)are not about pips, they are about % made or lost over a set period of time to me.

Whether 60 or 70 pips are far away or not depends a bit on your perspective as well. As for the point I was trying to make, I refer to the same as I wrote above - even if you cut them at 60-70 you still had to choose a lever/stop/gearing ahead of time, without knowing you'd cut at 70. Maybe you would have cut at 100 instead? Or 50? Or 30? And off your risk profile goes, being something completely unpredetermined.

Quote
Yes, i let my winners run - but if i didnt cut my losers quickly i wouldnt make money. many of my losers lose less than 10 pips, some of my winners only make 10 pips too.

I've found this sort of behavior/trade management to be more detrimental than helpful in my own trading in most cases - which could just be a difference in discretionary skill levels.

But even at a single trade closed prematurely due to manual interference (which had a good, sound reason to be entered in the first place,) ending up working out after all, I would already say this is not what I want to be doing.


Quote
this month is a prime example - the market hardly has had a decent trend, my accounts have won 10% then lost 10% and is about flat.

Sounds like my week but with a zero less

Quote
- but im a trend trader - and in theory trend traders lose money in ranging markets

Some theories also say market's are efficient. ;d

Quote
answer, the few winners i have had have ran and the losers have been relatively small.

That phrasing to me would be more likely to suggest profit and not being flat, unless the losers that were relatively small in amount were in turn many in number or the "ran" part is to be taken very relative to the constricted trading range(not much to run in with 240 pips range).

Quote
like i say, you have to understand the language i wrote and at the moment you are struggling. read it again in 6 months or a year and see if you have the same answer - bet you dont.

Well I don't have a problem with seeing the sense in it - I am merely arguing finer points

And @Phil - obviously you don't choose 20 or 10 simply because if the size of the setup causing you to enter is X amount of pips, you use X. Not X/2 or X/4.
The point isn't to be a clever c...addilac driver, but to point out how entries can indeed matter if that's how you trade.

If of course both of you are suggesting there's only one way to go about things(which I hope is how you view how you trade - else you'd lack conviction and that's detrimental to anyone's trading) and to trade then don't work so hard on the "what to dismiss" parts.
Push the "what to emphasize and look out for" bits and strong points. Then one just has to be capable of being smart enough to be simple enough to actually do what works. The rest is then left out automatically because one would have stopped trying to be smart

But then again - you both are already doing that, aren't you =) (pushing/sharing, that is)

That one article/post/thread you did was good e.g. Phil =)

Have a great weekend guys =)

--------

P.S. I freely volunteer and categorize myself as utterly and completely a "beginner" and not a pro, in case that was ever in doubt ;D

I'll say this much though - these("my") truths I hold as self-evident, they do not stem from sitting around alone being crazy - they to me are the gist of what I've learned from those who can chew up the market good whilst being half-asleep. ;p

You know who you are =)
Trust price. Know yourself.
  • #144
  • Oct 12, 2007 3:18pm Oct 12, 2007 3:18pm
Quoting soultrader
Adding a ps to this- most likely 90% of traders get this right at some time or other and then change.

Trend trading is boring - trading is supposed to be boring but most traders seek excitement. hence you had a strategy to make money but it didn't 'rock your boat' so you changed it.
The most exciting point during that phase was the cashing in and entering, knowing you'd make more money.

Not one second was it ever boring to me to make money.


Quote
all depends on what you want out of the market
Yes, profit. Sod Kudos, I've nothing more to prove.


Quote
To make it in this game you must change your focus. as a newbie its fun and new and exciting - if you are to become a professional trader you have to train yourself to have a single goal - to make money full stop.

My current phase I would hope =)

Quote
I would tell you a story about how I learned to do this, but it's late and the wife has just come off the phone (been on 2 hours!) so i'm off to watch rebus. - ask me about it sometime - it may interest you.

Hope this helps.

Definitely would interest me. It's a waiting pizza here ;d

Take care!
Trust price. Know yourself.
  • #145
  • Oct 12, 2007 5:05pm Oct 12, 2007 5:05pm
Quoting soultrader

bebop, interesting that you were a trend trader but arent anymore - what do you do now?
I wouldn't say that I'm not a trend trader. If the market is going up, I'll look for opportunities to scalp longs. Not to say that I don't ever scalp against the trend, but I try not to get too cute.

I also take longer-term trades when I see great set-ups. Sometimes these are counter-trend. The EURUSD is the only market I trade, and it does not go up without any nice retracements.

I use trendlines, centerlines, and pitchforks to aid me, but the biggest thing I've got at this point is experience. I've sat in front of this screen, watching the EURUSD's every move for over 2 years. I've been trading for over 4 years, but I have been full-time the whole time, and I am completely obsessed. I literally think about trading all day and night with little in between (yes, its sad). So when I see price action doing something I've already seen 100 times, I have a good sense to do something about it. That is where the lines come in. Trading really is an art.

Sorry, I guess I went off on a bit of a tangent there.
  • #146
  • Oct 12, 2007 10:48pm Oct 12, 2007 10:48pm
ok, i give up now seekinglight. I gave up fighting with newbies that knew everything ages ago.

i'm so glad that you are so convinced by your own argument, you must be loaded by now - arent you??

just one last point - you don't know what you don't know.
https://linktr.ee/Soultrader
  • #147
  • Oct 13, 2007 3:13am Oct 13, 2007 3:13am
Quoting soultrader
ok, i give up now seekinglight. I gave up fighting with newbies that knew everything ages ago.

i'm so glad that you are so convinced by your own argument, you must be loaded by now - arent you??

just one last point - you don't know what you don't know.
all i feel like is every post you make is to feed your own ego


now tear me apart too, it is fun...I will help you out. I have only be trading seriously for a little over a year.
  • #148
  • Oct 13, 2007 4:28am Oct 13, 2007 4:28am
im not feeding my ego, im simply asked a question, to which i reply and then im told by the person who asked the question that i'm wrong.

what was the point of asking the question in the first place if the answer was already known.

this is the problem with traders of between 1 year and 3 years in the game - they think they have superior knowledge even though they mostly just break even. Breaking even lasts for ages until THEIR ego allows them to learn again.

you know 95% of traders don't make money.

only 5% of the remaining 5% make any real money - the rest make a living

I expect for every 500 who read this thread that 495 will think i'm an asshole - I don't care - they pay my wages and they are liquidity providers, keep on scalping and picking tops and bottoms and it keeps my clients happy.

1 per hundred will take something from it and will be able to read what i'm saying. - that's who this post is for.

Please feel free to disregard everything.

You dont know what you dont know.
https://linktr.ee/Soultrader
  • #149
  • Oct 13, 2007 5:16am Oct 13, 2007 5:16am
Soultrader just would not be the same if he wasn’t controversial.

I have a question though.

This week 8/10/07 (Or 10/8/07 you said you where going short Eur/Usd, Yes good call as it was on a triple top and I had seen it and took it on my 15 min charts.

Surely it was at a trend line ?

Isn’t Eur/Usd in an uptrend ?

Or did you see something else, not getting at you just generally interested.

Mart
----o00o--°(_)°--o00o----
  • #150
  • Oct 13, 2007 6:41am Oct 13, 2007 6:41am
Hi Mart, hell you gotta rock the boat a bit havent you

at the time by my method the uptrend had been broken on the 4 hour chart by the downmove and the retrace was possibly the first lower high of the new trend. I took the trade at 7:30 AM UK time when the downmove had started (i never pick a top)

however later it failed as the lower high turned and with my method resumed into an uptrend. my method took me out for a profit of 46 pips at 8am on the 9th. originally it was a downtrend albeit short lived.

now i'm looking for a long setup again which may happen on Monday or Tuesday if it continues to hold these levels.

Don't forget you can look at all this months trend trades by clicking the signature link. -

the trend direction is determined by the timeframe you trade - for me the four hour is my medium trend trading system and at that time it was starting a new downtrend.

In my longer term system I was long euro since 24th august at 1.3628 and closed it on the 3rd at 1.4090. That uses the weekly charts as the trendsetter and as for euro it's still waiting for another long setup, though that one will be a good few weeks before a potential trade surfaces.

those who use the 15 min or 5 min as a trendsetter would say they have had 2 or 3 uptrends and downtrends since then - it's all relative to what you decide is your trend direction method. The key is to stick with it and dont let other timeframes throw you off.

Does this explain Mart?
https://linktr.ee/Soultrader
  • #151
  • Oct 13, 2007 6:44am Oct 13, 2007 6:44am
Let me try to put things in boxes. Hopefully we all will understand each other a bit more.

Seeking Light ..and others
You all are making money with a system, it seems to me, more refine. Refine means needing to be spending more time in front of the PC to catch the entry and exits to the "point " If you catch the trade that trend in your direction, you ride it straight away. Assume it whipsaws 10 times, you will get stopped losts of 500 pips ( say you put 50 pips s/l on GJ ) just an example - most unlikely to whipsaw 10 times, I guess.You can refine it to even 20 pips s/l by watching on even lower TF.
It probably worked for you - you know your account.
The price you pay is the amount of time you spend on trading ? The irregular periods you give to your family ? Your constant state of mind ? etc..to etc. Anyone who started out on his/her own without much knowledge/help will surely be able to add to the list.

Soultrader and others,

They probably had spent the time and went through your journey. They want to make money with least hassles as possible. Throwing the less important ( according to their way of entry ) indicators away and thus need less time to watch out for them. Gone are the whipsaw problems (almost) with say 500pips stops or no stops. If he feels the trade is going wrong, he can still exit after -ve 200 pips.
He has now less sort of "wasted time" In his mind he is comparing his "now" to his "past" experience on Forex trading. He spends playing M5 and M1 TF charts like me taking a ride on one of my cars or like Phil flying himself on a plane. M1 and M5 are past time hobbies - while most are still sweating to dig the pips from it.

Trading can be lonely when one starts out. Being stuck to the screen after a long period can change a person. One talk/communicate less and our mind is being affected to go into a train of thoughts without interruption. My wife says I now started to talk short hand. I am also more impatient. Soul might have acquired this from reduced conversation with others.

I had the honor of having Phil as our guest speaker in out chatroom the other day. Our 40 so member, all from FF, took that opportunity to squeeze out all we could. I am sure most of the members now had the key to trade Forex with better knowledge.

One thing we all know about and often don't use it is a journal. Phil taught us how to use it CORRECTLY. Let me apply this to Soultraders billion $ advice. Believe me, it is a billion $ advice. What soul posted there on that reply above is no blah..blah...

We often want to argue. But if you have a journal, you can only argue with yourself. Only you can convince yourself.
If you like trading on M5 etc..with indicators etc.. and etc... what ever you are doing Write down the time you spend after each trade. The results the amount you win/loss with stops, why stooped, why let winer run. How much time you spend with family. How is your mood with your family. what quality?
Eventually after a period you will have enough data. Then you have the pros and con and you ask yourself HONESTLY. Is that what you want ? Remember what SM Jones said in above post? You need to care only what is important to you.

Now, take sometime off your system and walk into the shoes of soultrader. Trade the way he does. He has given enough info how he does it. When the period is over, you can come back and argue your point. Prove him wrong or give him the credit.

You might agree with him in most point. Maybe only one point you don't. So do a journal only on that one point. Then I will see you back here earlier with your proven arguement and soul might modify his method with your EDGE. We all wil profit. Is that what we are expecting form this thread?

This is one of the treasure that Phil gave us free. Logical but almost no one applies it. Yes - let me thank Phil once more on behalf of the group. We greatly appreciate your lessons.

Wish all a good weekend
  • #152
  • Oct 13, 2007 7:29am Oct 13, 2007 7:29am
Well, that's a nice one Highway, the words of someone enlighhtened, you have my vouch.

What the 'youger' traders don't realise is that whatever they are doing, whatever system they have devised, however they are doing their money management, whatever indicator they are using and whichever is the latest fad - we 'oldies' have been there, done it and chances are discarded it as crap through our journey. Nothing is new in this game no matter how you repackage it or gloss it up.

Making money in your first year or any year in your first four is hard but not impossible, making money year after year is very hard unless you get to see the light.

when you see the light Making money is actually very easy in forex.

Many try to trend trade with stops tighter than the trend, they try like hell to avoid the losers. Babe ruth was the greatest pitcher of all time in the USA but did you also know that he struck out more times than anyone else in history? there is a lesson there for us too. Dont try to avoid the losers and the winners will come.

trading smaller timeframes you cannot see the wood for the trees. you are like the smartarse interviewer that interviewed Bill Gates.

Gates said something like "if i put an acorn in your hand and you think about it - what do you see" the interviewer thought for a moment and smugly smiled - "I see a large mature oak tree, with long sweeping branches and a hundred years old"

Gates said "yes, most people say that ..... I see a rainforest"

That's a great story and i'm not sure if it is true but it does illustrate a good point - those who fly higher see much more than the mice see on the ground and are in position to get what they want.

Be an eagle, not an mouse.
https://linktr.ee/Soultrader
  • #153
  • Oct 13, 2007 8:01am Oct 13, 2007 8:01am
tango112
Paper Warrior
Member Since Mar 2007
Posts: 9


http://www.forexfactory.com/images/icons/icon1.gif Comments for your Clinic Thread
Hi Soultrader,

I've been reading your trading clinic thread and really like the discussion. I do not however have a 1kt badge and am fairly ( I know you dislike unexperienced posters and if my points are extremely stupid feel free to let me know ) new but I would like to reply to your last post on trend trading:

(1) Trade the trend :: Trading is a business - you find a competitive advantage ( in this case market edge, in case of trend trading it would be the trend ) and you milk it over the long haul like a casino.

It's not a where is Waldo game of finding hidden patterns and star configurations. Also why do so many people believe that short term price patterns on 5min charts mean anything? Why should a hidden butterfly mean that price will fall?

Also, price does not rally because it is rallying - the symptom can't also be the cause.

(2) Buy Strength & Sell Weakness :: Incredibly true, I always see threads of with the title "xxx/xxx possible trend change?". Through all my studies I have rarely seen a market reverse on a dime, why try something like this when the odds are clearly stacked against you? ( This also shows that you are not trading as a business but rather as a game. )

(3) Let the trade run till the trend is dead :: A great point and I believe it is the most difficult to accomplish. The funny part is that I don't believe it is difficult to do in a technical sense but rather in a psychological sense.

What I have noticed about myself (Before I started developing myself into a true trader / investor) and other newbies is the following characteristic: Risk seeking when losing and risk averse when winning.

This leads to all the negative behaviors attributed failure: cutting winners short, letting loosers run, doubling up ( Martingale ) etc.

Until I was able to force my mind to adjust and change this attitude I was never able to turn the corner. Sure I traded my account up and down but I never made any meaningful progress.

By changing to become risk averse when losing & risk seeking when winning I've been able to cut my loses short and add on to winning positions (Like Phil said buy dips (up trend) and sell rallies (down trend). This single self awareness change has result in changing myself from having a ton of negative habits to behaving like a successful trader / investor.

Hopefully I didn't sound like a complete idiot . If so I would like to respond on how I play my add ons trades to trending markets ( Playing with a lead is much easier and has dramatically increased the profitability of my trades ). This has also lead me believe in what you said "The initial entry is not very important".

And by the way I love the Inspector Rebus series, I've read all the books.

Happy weekend!

Ben

Thanks Ben, yes, please do contribute on the 'adding to winners' scenario.
https://linktr.ee/Soultrader
  • #154
  • Oct 13, 2007 1:25pm Oct 13, 2007 1:25pm
Quoting soultrader
tango112

It's not a where is Waldo game of finding hidden patterns and star configurations. Also why do so many people believe that short term price patterns on 5min charts mean anything? Why should a hidden butterfly mean that price will fall?


Ben

Thanks Ben, yes, please do contribute on the 'adding to winners' scenario.
Well, I couldn't disagree more about price patterns on the 5min (or 10min for that matter). If anything, price patterns hold more value in the short term than longer term. Watching a 1min chart after a major news release where the market moves back and forth OFTEN times yields a triangle of some sort that can easily be played on for a quick scalp.

Also, when you couple price patterns with trend lines on the 5min you can use them in concert to help ascertain what a likely direction is going to be.

While people may know how to recognize price patterns it seems to me that they don't take the time to understand when they are and are not important.

I'll show an example with some charts:

First chart is a 10m chart with some basic Fibonacci lines drawn in.

Next is the 5m chart with Friday's price action. Now, on Friday as things were settling out you can see that there were some false bullish piercing/engulfing patterns on the way down. But, these were of little significance until the price neared the first fib retracement. As you can see the price reversed on the Fib retracement almost to the pip. One could have waited 15 min to make sure the price would hold and put a small stop in below 1.4150 in order to make a quick scalp.

So it is more than just being able to recognize the pattern, it is knowing how to recognize when one is actually significant.
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  • #155
  • Oct 13, 2007 4:32pm Oct 13, 2007 4:32pm
Quoting JFX81

So it is more than just being able to recognize the pattern, it is knowing how to recognize when one is actually significant.
JFX81, could to explain better what your talking about?
Check Mate GAME OVER
  • #156
  • Oct 13, 2007 5:20pm Oct 13, 2007 5:20pm
what a pile of bollocks

sorry, but it is

fibonacci proven to be self fulfilling bollocks, price patterns no more reliable than red sky at night.

theories for newbies and the gullible - been there, done that years ago - please take them to a different thread.
https://linktr.ee/Soultrader
  • #157
  • Oct 13, 2007 5:31pm Oct 13, 2007 5:31pm
Quoting soultrader
what a pile of bollocks

sorry, but it is

fibonacci proven to be self fulfilling bollocks, price patterns no more reliable than red sky at night.

theories for newbies and the gullible - been there, done that years ago - please take them to a different thread.
Perfect. The probability of price patterns is less than 50%. Proven fact. Besides by the time the price pattern is formed and confirmed is too late.
.
  • #158
  • Oct 13, 2007 5:37pm Oct 13, 2007 5:37pm
Quoting soultrader
what a pile of bollocks

sorry, but it is

fibonacci proven to be self fulfilling bollocks, price patterns no more reliable than red sky at night.

theories for newbies and the gullible - been there, done that years ago - please take them to a different thread.
This is an interesting point. The more a theory is accepted and used the higher the probability of the success of that theory. No shit. I have seen that. Did you know that ceratin strategies are more successfull AFTER they have been published. Why? Because the more people are using it the more it is going to be proven to be successfull because the market starts to behave that way. And you know what is happenning after that? People start to talking about things like that the "market behavior has changed", and the "price action has changed"... So they start to talk about invalid strategies and that the strategy should be changed to adapt to the new market conditions..... FREAKIN' NEVER ENDING STORY...
.
  • #159
  • Oct 13, 2007 5:37pm Oct 13, 2007 5:37pm
Quoting soultrader
what a pile of bollocks

sorry, but it is

fibonacci proven to be self fulfilling bollocks, price patterns no more reliable than red sky at night.
Amazing that you discount the ability to use them but then you call them SELF FULFILLING.

If they are self fulfilling, especially in the short term, then ignoring them wouldn't make much sense now would it? It matters not the reason why some TA works. If it is self fulfilling then the end result is the same.
Quoting soultrader
theories for newbies and the gullible - been there, done that years ago - please take them to a different thread.
No, in simple terms, I will not. I have used certain aspects of TA successfully for years and I find it bizarre that in a thread that is supposed to be about spreading knowledge that you discount that some can make something work just because you yourself could not.

I probably can't execute your trading strategy very well but I won't tell you to take it somewhere else just because I don't see why you do it. I should be extended the exact same courtesy.
  • #160
  • Oct 13, 2007 5:39pm Oct 13, 2007 5:39pm
it is laughable that b/c YOU failed at using something, that others will as well

Show me where it is a proven fact fibs are bollocks.

So if you blow up again trend trading will that fall into this category?

Experience should have taught you at least one thing by now. There are many ways to skin a cat , trading is no different

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