2 losses,30 winners, out of 32 trades

Agree,not good, and i like the nice and friendly atmosphere at forexfactory. Sometimes, i just want to give bad posts, bad answers. But only if it is reallly,reeallly bad.

i have like stated several times in this thread that losses should not be bigger than winners, . Even though, he tell me im using larger losses in my trading method. I had to tell him, he is stupid.

Best thing to do is to take your 2k and turn it into 200k then post the results here. Success is the greatest revenge.

hehe. yes sir.

It sure is.

Man im reading my thread, and my answers, i can se that i dont come across as intelligent, and that im just shitting out words, and that ive no subtlety and lack deeep insightfullness after saying things like

all indicators are shit
i cant fathom how you can be profitable trading a mechanized system
its hard to trade longer time horizons.

these are very opionbased, and generally show that you lack insightfullness and subtlety. Well im a very emotional person, and in the emotional upheat i may say stupid things. This has actaually been a real enemy while trading, having these demons that hamper your thinking, demons of emotionfulness and black and white thinking. THe latter is a good example of faulty thinking,that can be disastrous o. I think faulty thinking, an opinion,somewhere in the thinking process making you interpret things in a way that is not the truth. That is the number one reason why most people lose money while trading forex.



in the three senteces above, i dont think it is black or white, but rather grey. between grey and black to be exact ^^

im sorry, but i lack the skills to verbalize and formulate the brilliance that reside inside me

Hello woo

Interesting insight!

When you trade like you described at p.1, #1 and further down it might be equal if you added "consecutive wins", if you have the described experienced skills into "trading the market".

Cope with it!

Godspeed!

Forexcube

I can tell you. Im very philosopical while trading. I invest large amounts of time trying to think correctly.

What is thinking correctly?

What is the best Take profit? Isnt it to quit when you:

have no clue where price is heading. the price is about to go in the oppsite direction. Rather than setting fixed take profits or stop losses?

So obviously, i think, having predefined stop losses is a function of wrong thinking. Predefined stop losses, the mankind need for security. not understanding that market change all the time, and thus, stop losses should change all the time. Really, you quit, when you have no clue about where the price is heading(that is the most optimal), when you think it can go 50 50. Or when you deem it is about to go against you, you quit. that is your stop loss. THat is most optimal.. However i do agree having a safety stop loss, or i may think stop loss is the most optimal in some situations, were you bind it to technical levels,depending on strategy etc. Everything is grey

Or: the price has increased all the time. It has to go down, it is overbought.

This may be faulty thinking. Because you dont take into account that prices in currency market can trend. Or the faulty thinking in this case,may be that you put to much weight on oversold, and dont put enought weight on the trend etc. this was maybe a bad example but you get the point.

My point is that, faulty thinking,will somewhere in the thinking process lead to a complete different outcome that is not the "truth outcome".

There is always a truth. a correct decision you can make with the information you have available. genereally peolple distort, by interpreting things in a wrong way. I think this distortion is due to faulty thinking. You have opinions or beliefs that you attribute when interpreting data. The distortion is derived from emotional states/arrogance, fear,greed etc, where some faulty thinking is widespread in trading, like fear and greed etc. Im however pin pointing everything. so that i intepret and act as perfect as i can.

But have you ever assesed your opinions? Are they correct. Try go to the bottom with it. I think it is about being self aware. being critical on yourself.

I think this is super important while trading. Because you are interpreting data all the time. this is what have made me a better trader all the time, and more experience of course(better interprations plus more data/experience)

Another Scalper turns profitable realises all indicators are useless comes under fire from the long term people which are all pretty much losing but won't admit to it.


Keep it up Woo, Small and Frequent wins the race.

sorry, i dont understand what you mean. Would it be equal to consecutive wins? dont get the other sentence as well...

ye, like a rabbit

the evil rabbit of doom

http://www.whiterabbitcult.com/wp-co...ite-rabbit.jpg

no like this



http://www.noshame.org/losangeles/images/02rabbit.jpg

LOL! too much

Ok back to scalping for me:

http://www.crazy-frankenstein.com/fr...it-at-work.jpg

If you read carefully, you would see that I was just warning that 32 trades doesn't prove anything, we need to see more of your trades, to make a conclusion wether you have found an edge or not. It wasn't even addressed to you, it was addressed to person who made comment: "If you have found a trading edge...".
Do you see it? Read slowly word by word. Since you are so intelligent it shouldn't be too hard for you.
As an example I gave you a system that I just had completed backtesting. It had at 20pips target and stop loss 30to50 pips. Where did i mention 200 pips and 3 pips ?
Now who's...Never mind, I'm not going to lower myself to your level. Why do I feel like I'm wasting my words and my knowledge to a15 year old? I guess in your world comments based on thousands of hours of trading experience and system development are stupid and comments like: "Good job Woo, you are a great trader! You are going to show us how to become millionaire and we are going to worhip you" are intelligent. I forgive you calling me stupid. You must have been drunk.

"I bet there are thousands of traders (most likely scalpers) who have had series of winners and then lost all of their profits after a few loosing trades or during a drawdown period."

That was an additional comment, not pointed at you and not important. That's why it's in parentheses.

"I bet there are thousands of traders (most likely scalpers) who have had series of winners and then lost all of their profits after a few loosing trades or during a drawdown period."

This is the main point It can apply to scalping or any kind of trading. At no point did I say that I think that you are a scalper with very high stop and low target, or even that you are a scalper.

I never looked at your attachments. If you read earlier posts you see there are people saying or hinting that you are a scalper.

"I bet there are thousands of traders (most likely scalpers) who have had series of winners and then lost all of their profits after a few loosing trades or during a drawdown period."

I've witnessed this with many traders posting their trades in different forums and elsewhere. That's why I added it in my comments to warn any newbie about making conclusions based on too few trades.

I hope we can bury the hatchet now.

I really cannot believe I am going to lower myself to respond to a totally clueless trader like you. Traders like you love to assume that scalping has no legitimate place in trading, that somehow scalpers are right in there with the lowest of low bottom feeders. You feel as if you are justified to "warn" newbies about taking this seriously. I don't know who you are or how you trade, but I am not attacking you for the claims you made on your trades. I am happy for you if you are successful. On the other side, with me you have no idea who you are talking to or how successful I am. Yeah, I have been here in Forex Factory for some time now with very few posts. People like you are the main reason I have been so silent. I trade a scalping style successfully. Scalping is no different than any other style of trading in that discipline and proper money management are an absolute must for sustained success. Yet I know the "well meaning" traders are out there that somehow think they need to warn me of impending doom. Someone like Woo states he has found an edge in scalping and the vultures descend. He is immediately made to feel like it is only a matter of time before he fails, before the "big one" takes him down. My post was to Woo to encourage him and to simply share some ideas that might help him in much the same way they have helped me. I had a feeling something like this would happen. I am not here to defend myself to you or anyone else. This will be my only response to you. The only thing I would like to say is, take your crusade elsewhere and let Woo have an opportunity to share his journey here. Try to be happy for him rather than tear him down and attempt to steal his dream.

Woo, I wish you nothing but the best in your trading.

Coach

OMG teaching newbies to Scalp will destroy the very universe that we all live in.

OMG They'll make all the profits where as the long terms will spend there lives risking 1% to make 200pips just to lose 200pips on the next trade. errrm hang on!!

OMG it's a Forum you've got to run people down to make yourself feel better about your own terrible losses don't you know anything man.



p.s. I scalp!!
p.p.s. Well said Coach. ( have a 2nd V )

this vouching system is.......

I find it funny that you criticize people who run down others to make themselves feel better right after you criticize others about trading long term charts.

There is money to be made on all time frames. Scalping is no better or worse than daily charts, its all a matter of what makes people comfortable. People who don't have the time to dedicate to scalping should trade longer time frames. I am teaching a good friend of mine how to trade daily charts because he works 12 hour shifts and sitting in front of a computer for several hours each day just isn't feasible.

p.s. You scalp! But are YOU profitable scalping? How has your trading gone this year? Last year?

Hey Magnum, good points. There are MANY ways to make money in the Forex market. That's exactly what I am trying to say. I have the ability to spend those several hours each day in front of the computer. Scalping is a way of trading for me that has produced consistent profits over the past couple of years. I have found there are certain hours during the day that help with that consistency. However, I can see the value of you being able to mentor your friend in trading on the Daily charts. Obviously, trading off a daily chart is quite a different world for me, lol. Yet I applaud the fact that you can consistently profit trading in that fashion. I have always enjoyed reading your contributions to Forex Factory and have much respect for you. I want us all as traders to win no matter what style we choose to trade. It just seems over the years I have been around Forex Factory that trading style is an area of such volatility between traders. I realize Woo has shown results for only a relatively small number of trades. Woo says he has done his homework, spent many hours of screen time, and now has a method to trade which he feels good about. I am very interested to see his progress.

Best to you

Coach