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The Penny Drops

  • #21
  • Jan 15, 2009 1:25pm Jan 15, 2009 1:25pm
I sense this cybernut character is going to be a peculiar nuisance.

directxxx, I would take anything that anyone says on these forums with a pinch of salt. I assume that was pipmutts point, although their method of communicating it was mildly insulting and had an air of unqualified superiority about it. The question has no right or wrong answer. Although others might find responses to be 'naive', they are no less legitimate than anyone else's experiences or opinions.

How's things going anyway - had any revelations or made any big steps toward your goals that you are willing to share? Sticking to the trading plan, or even written a trading plan yet?
  • #22
  • Jan 16, 2009 10:35am Jan 16, 2009 10:35am
Quoting directxxx
Pipmutt,

If much of the stuff here is misguided nonsense, do you feel that you addaed something by your last post or are you embarrassed. If you would care to add something constructive I would be delighted. Feel free.
birdt got it about right, "take anything that anyone says on these forums with a pinch of salt", and when you're able to separate (or even recognize) the wheat from the chaff then you'll know you're getting somewhere!

The thing about (trading) forums is, contradicting someone elses opinion when they're unable to support their view with reasoned logic when challenged invariably turns into retaliation using a barrage of personal attacks of the messenger rather than attacking the message, human nature I guess.

Something constructive? Sure. Apply the same principles to trading futures as you (hopefully) did to trading equities, the essence of trading is universal across all markets.

As far as strategies go no-one holds the monopoly on profitable trading methods, there is no 'right' or 'wrong', there's only profit or loss.
  • #23
  • Jan 16, 2009 10:56am Jan 16, 2009 10:56am
At the end of the day, trading any financial market, even, any business, job, anything involving money........... is competative.

A competative edge is not shaired, thats common sence.

Ive come to the realisation that the main uses of these forums are:

a-Self promotion
b-Idea's, to spark off better ideas
c-Fun and reading while you are trading

Anyone expecting to find laid out instructions of how to profit from the market, isnt see'ing life and the world we live in for what it is.

If you deserve something, and are in advantagous surroundings and throw in a bit of luck... then maby you will get what your looking for.
Living the adventure in my head.
  • #24
  • Jan 16, 2009 11:22am Jan 16, 2009 11:22am
I actually avoided this thread due to the title rather than it being in the "Rookie" section. I come her quite often. There is a world of wisdom in these pages, and much of it hidden in the oddest places.
  • #25
  • Jan 16, 2009 11:44am Jan 16, 2009 11:44am
Quoting Ziva
Things really "clicked" for me when I realized the impact that my thoughts and beliefs surrounding money, wealth, and success have on my reality in every aspect of my life including trading. I realized that my thoughts and beliefs create my reality.

Here's a good read:

Think and Grow Rich - Napoleon Hill (a classic!) - This book was written in the 1930's during the depression. The author interviewed hundreds of high achievers (millionaires, inventors, highly successful individuals) to research common characteristics in the thought patterns...
A member here directed me to 'Think and grow rich' after reading a thread I started. I beleive it is down to that that im now starting to see success in my trading, everything started to turn around for me practically streight after(in life in general aswell) reading it.

Leon
Living the adventure in my head.
  • #26
  • Jan 16, 2009 11:56am Jan 16, 2009 11:56am
Quoting Leonlorenzo
A member here directed me to 'Think and grow rich'
One of the best advice I've seen on FF. A legendary book when it comes to inspiration and how to adjust your mind for success.
Measure twice, cut once
  • #27
  • Jan 17, 2009 7:53am Jan 17, 2009 7:53am
Quoting Tjpld
I can understand how you feel since I have been there as many others too. The days where I was looking on the Trading Systems Forum to try out yet another Indicator System are not that far away. "Wait for indicator 1 and 2 to confirm and buy". After a long time I found out that there will be no such sytem that can make money on the longterm. I mean if you only had to wait for a signal why are there 95% losing money in the forex market? I also asked myself quite often "When those people use 3 indicators and each has 5 different adjustable settings....
Abserfurkinlutely!. Wish I'd made the move to naked charts years ago instead of putting up with loses and minor profits month after month. Losing indicators was when I realised "Ah hah! thats how they do it!"...Dont even like candles anymore, unless there's a powercut.
  • #28
  • Jan 17, 2009 7:55am Jan 17, 2009 7:55am
Quoting aediaz1
A legendary book when it comes to inspiration and how to adjust your mind for success.
I agree, Excellent book
  • #29
  • Jan 17, 2009 10:09am Jan 17, 2009 10:09am
From an Old "Ego Trippin " Codger...

When I finally Believed my siggy.
Some 25+ years ago...
  • #30
  • Jan 18, 2009 3:15am Jan 18, 2009 3:15am
Birdt, Pipmutt et al...... I suspect the penny IS beginning to drop. I have been trolling this site for a while. I actually believe that I am keeping good company for the most part and am/have been spending 12 hours a day looking for the answers. Am beginning to find the right questions in the back of my head to the point where I am beginning to recognise the futility of posting this thread to begin with. I admit to an enormous bout of frustration because i couldn't 'SEE' the answer. As I say, the questions are now slowly coming into focus. I will succeed in game. I think this must be the lonliest game in the world. I am sure it is fine when you hit your stride but it's time for me to focus even more on the bits I think are relevant. On to the next. Thanks

Quoting birdt
I sense this cybernut character is going to be a peculiar nuisance.

directxxx, I would take anything that anyone says on these forums with a pinch of salt. I assume that was pipmutts point, although their method of communicating it was mildly insulting and had an air of unqualified superiority about it. The question has no right or wrong answer. Although others might find responses to be 'naive', they are no less legitimate than anyone else's experiences or opinions.

How's things going anyway - had any revelations or made any big steps toward...
  • #31
  • Jan 18, 2009 3:19am Jan 18, 2009 3:19am
And we Scots have a reputation to uphold. Greetings to you from another of your kin, adrift at the moment between Chile and Brasil. A former 'Bankie'.

Quoting Bemac
From an Old "Ego Trippin " Codger...

When I finally Believed my siggy.
Some 25+ years ago...
  • #32
  • Jan 18, 2009 5:33am Jan 18, 2009 5:33am
Quoting directxxx
Birdt, Pipmutt et al...... I suspect the penny IS beginning to drop. I have been trolling this site for a while. I actually believe that I am keeping good company for the most part and am/have been spending 12 hours a day looking for the answers. Am beginning to find the right questions in the back of my head to the point where I am beginning to recognise the futility of posting this thread to begin with. I admit to an enormous bout of frustration because i couldn't 'SEE' the answer. As I say, the questions are now slowly coming into focus. I will...
You're right, it can be the most lonely, frustrating game in the world but it does have it's compensations!

It's when I read something like "Sell @ 1.3363 SL 1.3315 TP 1.3180" and no-one even seems to notice, that's the time I simply have to question the value of forums like these. But as someone else mentioned there is the occasional nugget buried deep in the mine, they just take some finding.

Good luck anyway, think logically would be my parting piece of advice
  • #33
  • Jan 19, 2009 8:17am Jan 19, 2009 8:17am
What's also important is that with my current strategy using higher timeframes and Trend. I feel like I could do this consistently for 10 -20+ years.
If you test a strategy which does not show any signs of consistency there is absolutely no point in wasting anymore time on it.
  • #34
  • Jan 19, 2009 7:04pm Jan 19, 2009 7:04pm
That is undoubtedly the best advice so far in this thread.


Quoting Tjpld
What's also important is that with my current strategy using higher timeframes and Trend. I feel like I could do this consistently for 10 -20+ years.
If you test a strategy which does not show any signs of consistency there is absolutely no point in wasting anymore time on it.
  • #35
  • Last Post: Jan 21, 2009 8:34am Jan 21, 2009 8:34am
Not necessarily.....think logically grasshopper

Don't worry, the penny will drop when it's ready....
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