DislikedHi ALL,
On last count, I do not believe there is anyone here that is fully practising the training as it should.
Agreed. I guess there are mainly 2 reasons.. 1) not understanding something fully, 2) being stubborn and not letting old habits go. For me its the first one mostly.
You see, all styles of trading can make money in the short term ( for a few months.) but to for it to be a viable business or retirement plan, performance must be consistent and mostly safe.
Agreed. Will comment this later on.
Fro that, Iwould have to conclude that either none of you understands what has been presented and not practising it, or that none of you dared to sound. (which is not a good thing). Either way I looked at it, there was no grounds for me to stand on.
Please elaborate on this one a little. I see a lot of pigs, that is one reason not to have ground. I see a lot guesswork, that is two. News trade/gamble is three. I was squared today and yesterday just before news even tho it turned out to me in favorable direction in both cases but I don't feel bad about it. It's still a gamble to go into NFP announcement with guns blazing. I know some people who use margin call as stop loss.. lol.
What anyone here can do is, to adopt the change, in so much as they can understand . Thats where the danger lies. I had communicated to Leighsww before that if people here adopt my style, if they do it wrong, in any aspect, it can take your heads off. And this is whats biting me. If you think about it, even Leighsww had gone in a different directions.
Agreed. On Leighsww (and luSans) defense is the time issue. So in a sense they have to find some middle ground that works for them. I have to skip some days as well when I know I will have important stuff to do at work (like attend a birthday party) but I try to stick to the rules when I trade. I might still put take profit levels up when I can't babysit something or enter on limit orders.. this is some old habit that is hard to get rid off because it is so convenient sometimes.
What you may not appreciate is that this Mo requires absolute discipline, because things sometimes gets scary, as the market variance come a testing its robustness. One step out of line and we will pay dearly, as was witnessed.
That is so true, what you have presented here is some very, very, very dangerous MO. From my own research and experience I know that attack & rescues or averaging down for the rest of us is one of the easiest ways how to loose everything in one day. You know the rules, you stick to them and even you, fti, sometimes get in trouble. While you do a 90% recovery the next day, we could not. We probably would not have the experience, discipline and capital to follow this through. Don't worry, you have given several warnings and so does Leighsww in the beginning of this thread. This MO is not for the faint hearted (maybe even not for Leighsww herself)
By saying all that I want to stress that THERE IS NO REASON NOT TO STICK TO THE RULES! Rules are fairly simple! And more money can be made following them than rebelling against them!
I of course will not be carzy to show my protocol of operating it. But in a way I have. Except for how the frame of mind was when certain steps were taken. I left that for you to figure it out for your self with what I had tried to present. The problem is I speculate that none is even close.
The few live sessions you have posted have helped me to understand some of your mindset while trading. I guess I still might be "not even close" to really understanding it. For one, I know I can't effectively snowball a position. I think I am too afraid to be in a similar position as you were in yesterday. Trapped. Difference is that you know what to do, I might not. This is something I am still working on.
What I do is a very thin road , just one missed step, and it can turn out to be the highway to hell, esp with the snowballing.
It justifies my fear, lol.Ignored
I don't have any other style of trading than this & I have tried countless methods/systems/timeframes over that last 3-4 years. Yes, there might be some stuff I have filtered out to help me in general (like having a 21 sma on screen or sometimes looking at fibo numbers.. I have looked at them for so long that I don't even need to draw them anymore, lol).
Fibs, Pivots, Trend lines and S/Rs are just lines where to watch the PA.. they don't mean anything by themselves. If you are watching PA all the time, you don't need them.
Correct me if I am wrong somewhere.
So in the end I wanted to say that I hope we will continue the journey and in a little while you, fti, will have ground to stand on (how was the sand called in which you could sink? hehe).