Dislikedshort and to the point! pretty good summary.
if you have not yet experienced such things yourself, you might just want to be ignorant and judge this as nonsense. it will only be to your disadvantage, we just try to help.
collect your own experience and perhaps you come to the point- if not counting to the 95% of the rest-, that you are pretty spot on in marketreading and trading profitable.
when you are at the point that you see trades develop, which you just do not take, even tough you know this has to go in our way...Ignored
The truth here is that learning to trade is a skill just like any other and must be learned and honed to perfection. The problem here is that most people don't really put in the time to learn the mechanics of how to be a good trader and more importantly don't really recognize their own self defeating characteristics:
- #29
- Oct 1, 2009 3:55pm Oct 1, 2009 3:55pm
The most pervasive myth I see is the notion that the proper money management can turn a losing system into a winning system.
It can't.
If it happens maybe is coz that system was losing due to the lack of money management......sounds good?
Lubo.
If I know how, I tell You!! Few but Good!!
- #31
- Oct 1, 2009 4:39pm Oct 1, 2009 4:39pm
- Joined Apr 2006 | Status: Trader | 4,301 Posts
If it happens maybe is coz that system was losing due to the lack of money management......sounds good?
Lubo.
That wasn't what I was talking about.
I frequently see people write that you can choose your trades with a coin toss, apply proper money management and consistently make money. It isn't true.
I think Van Tharp started that myth in one of his books.
It has been debunked, but it still persists.
- #32
- Oct 1, 2009 4:42pm Oct 1, 2009 4:42pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #33
- Oct 1, 2009 4:54pm Oct 1, 2009 4:54pm
- | Joined Jun 2007 | Status: Trader | 1,021 Posts
I don't think it's quite that black and white. In general this statement is true, but one can imagine a system which is just under positive expectancy for which effective money management could just push it over the line into positive territory.
care to expand or will lose the edge?
i remember Scott (in a response to tdion) talking about a alternative MM wich is used in gamble like martingale, but he said was not a negative progression.
and talking about tdion he has his own mm wich is almost a martingale. I don`t know how he will estimate his max DD now that he is trading funds...
wtf is all you have to say? wow. respect to you
it has nothing to do with believe, nor is it real for me kid. this is a known fact in psychology.
Dude I don't want an argument, but do you have any evidence from psychological research to support your claim?
Mark Douglas did not state this, he alluded to what I was touching on, that if you have negative beliefs hanging around in your psyche, that will have an adverse effect on your trading.
If you believe your inner self wants you to fail this will become real and dominate your trading.
"Beliefs resist any force that would alter their present form" Mark Douglas
- #35
- Edited 5:33pm Oct 1, 2009 5:31pm | Edited 5:33pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #37
- Oct 1, 2009 6:12pm Oct 1, 2009 6:12pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #39
- Oct 1, 2009 6:48pm Oct 1, 2009 6:48pm
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Arrgghhhh!! I shoulda started this thread, I hate Myth's.
TF's are as already said Myth's, same market people get over it, it's just the level of detail your changing.
Candle Stick patterns as based on time are yep myth's nothing in them at all.
Pivot Points and Fib's stuff that works 20% of the time by chance isn't working get over it.
All indicators.
Anyone who's trying to predict future prices, get it right by chance occasionally and ignore the other 100's of fails.
Systems are myth's, I prefer the term method main focus learning to read the PA and trade smart.
MM also a myth, if your not trading profitably use better MM and trade with less risk = keep losing money slower, learn to trade profitably then hammer it.
Entrys aren't important, errrmmm there key, why trade when your going to be immediately down surely trading when your going to most likely immediately up is better than trade from a position of strength.
Averaging down, should never be done, errrrr no the price has gotten cheaper why not take advantage in some cases, just because a few people average down hugely then let it run against them doesn't mean averaging down is stupid.
Well done, keep it up
TF's are as already said Myth's, same market people get over it, it's just the level of detail your changing.
Candle Stick patterns as based on time are yep myth's nothing in them at all.
Pivot Points and Fib's stuff that works 20% of the time by chance isn't working get over it.
All indicators.
Anyone who's trying to predict future prices, get it right by chance occasionally and ignore the other 100's of fails.
Systems are myth's, I prefer the term method main focus learning to read the PA and trade smart.
MM also a myth, if your not trading profitably use better MM and trade with less risk = keep losing money slower, learn to trade profitably then hammer it.
Entrys aren't important, errrmmm there key, why trade when your going to be immediately down surely trading when your going to most likely immediately up is better than trade from a position of strength.
Averaging down, should never be done, errrrr no the price has gotten cheaper why not take advantage in some cases, just because a few people average down hugely then let it run against them doesn't mean averaging down is stupid.
Well done, keep it up
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
- #40
- Oct 1, 2009 6:54pm Oct 1, 2009 6:54pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.