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Stating The Obvious and The Quest For Wisdom

  • #221
  • Mar 12, 2010 12:16pm Mar 12, 2010 12:16pm
Hey guys, sorry for the interruption, a few of you seem to have found a new religion or at least some form of divinity.
Instead of trying to decipher every small word of Darkstar what don't you take a deep breath and think a little bit with your own brain.

I only said that the enter position on the EURUSD trade could have been found using price action. Of couse Darkstar could have entered at any other price but it wasn't a trade which others couldn't emulate using another kind of analysis. Does it matter so much for you what tools one is using to enter a trade?

There are thousands of ways of trading succesfully. Darkstar has a way of looking at the markets which can't be copied or learned because all of us have different experiences and professions which makes us prone to different interpretations.

I am a professional programmer and I'm sure that Darkstar isn't. So I know some things about the markets which only a quant can discover and I'm sure that Darkstar knows some things due to his profession which for the moment are beyond my grasp. So? As long as I can name at least 10 people on this forum which trade completely different from one another and are making money I don't understand why some of you take position against another opinion.

Quoting Deusomega
Well for one on the subject of candles... Nison and Pring both state that price action patterns alone should never dictate whether we take a trade or not. So even from a candlestick trader point of view your justification is weak.
As far as I'm aware there's no clear definition of price action. It is not written in stone as a definition of a doji candle. Anybody who trades according to it has developed his own way of looking at a chart. Some see patterns on a naked charts like Darkstar and some feel the need to add fibonacci, moving averages or other lines and curves. I think that you didn't understand what Nison and Pring were saying or they are probably wrong.

To make a long story short, it is not my intention to hijack the thread and it I don't like to see Darkstar regretting that he posted that trade.
  • #222
  • Mar 12, 2010 12:41pm Mar 12, 2010 12:41pm
Quoting Sauron
I am a professional programmer and I'm sure that Darkstar isn't.
Hey now, just cuz my form is ugly don't go assuming I can't write code. I think I program pretty damn well for no training and < 1 year experience.
  • #223
  • Mar 12, 2010 12:47pm Mar 12, 2010 12:47pm
Quoting Sauron
Hey guys, sorry for the interruption, a few of you seem to have found a new religion or at least some form of divinity.
Hey Sauron,


LOL, last summer Darkstar logged on for the first time in 2 years. An actual thread was started and underground murmuring began simply because of that. (LOL check this out haha) People have been awaiting his second coming...

I am just pointing out that this IS a religion to some of us. I personally have been reading and trying to trade order flow for 2 years (with Darkstar's posts being my primary guide), and I KNOW first hand that there are several others here that are in the same boat.

Anyway, the bulk of your above post I agree with, just thought I would share some perspective.
All I ask for is a chance to prove that money cannot make me happy.
  • #224
  • Mar 12, 2010 1:07pm Mar 12, 2010 1:07pm
Quoting Marsh
Hey Sauron,


LOL, last summer Darkstar logged on for the first time in 2 years. An actual thread was started and underground murmuring began simply because of that. (LOL check this out haha)

I am just pointing out that this IS a religion to some of us.
Lol, don't do that to me.

Serious note to the guy Marsh replied to. For some of us here, it has been impossible for us to settle for the explanations we've been given for price movement by the 'wanna-be Guru traders' who rely on TA and hanging men, diamonds, etc to make their trading decisions.

Then we discovered Darkstar, who made intelligent posts that we were unable to dismiss; everything he said was grounded in logic... and this appealed to us. I wouldn't call it religion, id call it looking after our own best interests, and for some reason (I wont say were more intelligent than anyone else) we believe our best interests lie with this mans approach to the markets.

Everything we know, every personality trait we have, is gathered from our experiences and various inputs throughout our lives. Without DS being on this forum its unlikely that we would have received this input, and for that were grateful.

But remember, I don't suck arse. I do what I feel is in my best interests.

Regards, Leon
Living the adventure in my head.
  • #225
  • Mar 12, 2010 1:22pm Mar 12, 2010 1:22pm
Quoting Leonlorenzo
EDIT: Average Drawn-down is an interesting stat as well.
There is a site called TraderDNA, I think it's mostly for stocks, but they have a list of stats they keep track of that is pretty impressive. Want to know what day of the week you trade the best? worst? etc. There is a PDF on the site that shows examples

If you discovered that every Thursday you blow a trade, you can take action and do something about it. The site at least made me think more about keeping a larger set of stats as tool for self improvement.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #226
  • Mar 12, 2010 1:23pm Mar 12, 2010 1:23pm
Most would say investing implies a longer term approach where trading is short term. I doubt any knowledgeable person would say Buffet doesn’t know what he’s talking about. I see a clear difference between the two.
  • #227
  • Mar 12, 2010 1:28pm Mar 12, 2010 1:28pm
no one beats the market... expect for those of us who do.

m
  • #228
  • Mar 12, 2010 3:31pm Mar 12, 2010 3:31pm
Quoting acumen
no one beats the market... expect for those of us who do.

m

LOL

the market isn't any battle field,the only think you must be awere is being with the flow, they will carry you, you just click the button for your orders and go to enjoy your life, there are much more important things better than trading
  • #229
  • Mar 12, 2010 3:44pm Mar 12, 2010 3:44pm
Quoting triger88990
LOL

the market isn't any battle field,the only think you must be awere is being with the flow, they will carry you, you just click the button for your orders and go to enjoy your life, there are much more important things better than trading
Or is it a battlefield - between the buyers and sellers! Lol! That aside... there definitely is more important things in life than trading!

Great thread though guys... very intriguing and a real eye opener! Keep up the great work!

Regards,

Dan
  • #230
  • Mar 12, 2010 3:49pm Mar 12, 2010 3:49pm
It will be nice when I can talk about the more important things in life besides trading . I think to be good you have to make it the most important thing in your life. But yeah when you get to the point where you can generate good income from it then it will be much easier to push it aside as being less important.
  • #231
  • Mar 12, 2010 3:55pm Mar 12, 2010 3:55pm
Quoting Deusomega
It will be nice when I can talk about the more important things in life besides trading . I think to be good you have to make it the most important thing in your life. But yeah when you get to the point where you can generate good income from it then it will be much easier to push it aside as being less important.
Yeah that is true. I suppose it also depends on what you want from trading. For me it is an early retirement plan as opposed to an income generator. I can see though for those who want to/do live off of their trading it would be more important!
  • #232
  • Mar 12, 2010 3:58pm Mar 12, 2010 3:58pm
Quoting DanUK
Yeah that is true. I suppose it also depends on what you want from trading. For me it is an early retirement plan as opposed to an income generator. I can see though for those who want to/do live off of their trading it would be more important!
Yeah I don't know about live off of it but definitely make enough money from it to invest in other things to live off of via passive incomes. What's driving me is my intense hatred of law school. Everyone should be cheering me on rofl one less lawyer
  • #233
  • Mar 12, 2010 4:01pm Mar 12, 2010 4:01pm
Quoting Deusomega
Yeah I don't know about live off of it but definitely make enough money from it to invest in other things to live off of via passive incomes. What's driving me is my intense hatred of law school. Everyone should be cheering me on rofl one less lawyer
  • #234
  • Mar 12, 2010 4:06pm Mar 12, 2010 4:06pm
Quoting Deusomega
It will be nice when I can talk about the more important things in life besides trading . I think to be good you have to make it the most important thing in your life. But yeah when you get to the point where you can generate good income from it then it will be much easier to push it aside as being less important.
Might sound sad, but the most important thing in my life is, and I feel always will be success. I figure that everyone floats on by, fits in to the system, and does what there told to earn their living. Trading offers the chance to do something for yourself, for only your own benefit, this is the attraction.

I have gone back in to education with the hopes of maybe meeting people who can make things happen for me, and to learn how the future bigwigs in finance and economics fields are taught to think. Hopefully I'll learn things that will help me to succeed individually, my uni degree will teach me the quant analysis stuff and the financial and economic theory; as a back up If I never make anything of myself then at least I will have a degree (hopefully from a darn good uni) to improve my employability.

Seriously, who wants to be ordinary? I sure don't. Aim for the stars, you only get one life.
Living the adventure in my head.
  • #235
  • Mar 12, 2010 5:39pm Mar 12, 2010 5:39pm
Scotty B,

What an outstanding post. It brings back memories of my first years in trading & all the bs I encounter during that time. Thanks for sharing.


"It is better to light a candle than to curse the darkness".

_____________________________
AceTrader
  • #236
  • Mar 12, 2010 7:13pm Mar 12, 2010 7:13pm
Quoting Leonlorenzo
Might sound sad, but the most important thing in my life is, and I feel always will be success. I figure that everyone floats on by, fits in to the system, and does what there told to earn their living. Trading offers the chance to do something for yourself, for only your own benefit, this is the attraction.

I have gone back in to education with the hopes of maybe meeting people who can make things happen for me, and to learn how the future bigwigs in finance and economics fields are taught to think. Hopefully I'll learn things that will help...
Hi Leon,

From a work point of view I think you may be right. For anyone who wants to "be their own boss" as it were it should be the most important thing. But in life, overall, I would be surprised if you (or anyone else) considered it to be the most important thing.

For me, the most important thing(s) in my life are my children, without a shadow of a doubt. If I had to make a choice between them and trading I know my MT4 platform would be deleted quicker than that.

I think that was the point being made... although trading is important, the path to freedom, independence, financial security, success etc... all at the top of the agenda but when you step back and see what else is in your world, well, there is just soooooo much more!

I think a great (yet very sad) example of this was talked about recently by a member here who more or less lost his family as a result of his (over)dedication to trading. Sometimes, we don't realize what we have until it's too late.

By the way... this wasn't directed at or a reflection on you LL... just thoughts in general to trading/life etc.

Regards,

Dan

PS... Sorry from detracting from the real subject here!

PPS... I just noticed also that you are a bit younger than me so it is quite likely you don't have kids... and although this may sound a bit condescending (it isn't intended that way) but having children of your own changes your outlook on life in a very profound way!
  • #237
  • Mar 12, 2010 7:28pm Mar 12, 2010 7:28pm
Quoting DanUK
PPS... I just noticed also that you are a bit younger than me so it is quite likely you don't have kids... and although this may sound a bit condescending (it isn't intended that way) but having children of your own changes your outlook on life in a very profound way!
Definitely. I'm 23 and I gotta be quick and take advantage of one of the few times in life I'll have the ability to be extremely selfish with my time .
  • #238
  • Mar 12, 2010 7:34pm Mar 12, 2010 7:34pm
Quoting Deusomega
Definitely. I'm 23 and I gotta be quick and take advantage of one of the few times in life I'll have the ability to be extremely selfish with my time .
Lol! I must admit I am only a little older than you guys (27) so I can't speak with the utmost experience but definitely enjoy your freedom whilst you can! I miss my nights out at the clubs and rolling on home at some awful time in the morning without a care in the world, and with a bar bill bad enough to give me a second hangover!!!
  • #239
  • Mar 12, 2010 7:42pm Mar 12, 2010 7:42pm
Sure is a peculiar place (the world of trading) to feel kind of old at 49! LOL!



BTW: Looking forward to Darkstar's book!
  • #240
  • Mar 12, 2010 7:51pm Mar 12, 2010 7:51pm
Darkstar's book shall be epic in the most epic way that is epicly possible. It will have epic orderflow info and boobies!
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