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...only your bottomline should matter to you

  • #41
  • Mar 24, 2010 4:44am Mar 24, 2010 4:44am
Well i just wanted to say that i agree with the theme of the thread starter. I would love a bit more transparency but then i would say that as i can admit i am not profitable at the moment
Obviously not statements etc but details of systems and perhaps people posting there profit factor in their sig. Mine is 0.94 People would lie but a lot wouldn't and it would give a general idea where people are at i.e
The guys over at the vsa threads or how profitable people are using support and resistance etc.
I remember i spent days reading all Darkstars posts a while back. They were shrouded in mystery and no tangible edge i felt I could exploit. (not meaning any disrespect DS you are just a mysterious kinda guy)

What people must remember (esp the ones with profit factors better than 1) is that is a frustrating business when you are not profiting and lack of transparency and hanging carrots is irritating.
The fact is by exposing your method and your profitably is unlikely to make it ineffective as most seem pretty discretionary and take a lot of practice (unless it is a purely mechanical edge).
So many people dish out guru like advice around this place but its not of much use if you are not long term profitable.
Anyway Saurus glad u started this
  • #42
  • Edited 5:21am Mar 24, 2010 5:10am | Edited 5:21am
Now where have I seen this "prove your method and profitability" argument before....
Oh yes! Another bullshit thread some time ago! And if memory serves me well that one did not end well ...
Guys, don't you have something better to do rather then measuring your wedding vegetables online? Like trading for example?
With all due respect to both of you, this is of no help to anyone.
  • #43
  • Mar 24, 2010 5:24am Mar 24, 2010 5:24am
I don't think its a question of PROVING profitability but why not offer it up.
Most the people on these forums are not profitable and they are here trying to educate themselves from the few people who are. Surely those people who are profitable are here to help- otherwise why bother.
But what do i know as i said my PF is 0.94.
  • #44
  • Edited 5:42am Mar 24, 2010 5:30am | Edited 5:42am
Quoting Darkstar
So in other words, you don't have anything to point us to that shows you know what your talking about? No live calls? No outline of your awesome method? No insight into the secrets of price movement?
I think I explained my take on it in this post.

Not that it's relevant but as far as live calls, sure I've posted a couple, one in your order flow thread if you remember and then in this post a link to another longer-term trade I was in when you questioned the validity and practical use of the opinions of top analysts interviewed by Bloomberg and their commentary, also posted live.

I'm not trying to tell anyone which way they should trade or what tools they should or should not use to help with their trading decisions, any successful trader will tell you that the tools you use to try and predict direction are about the least important aspect of consistently profitable trading, again read Soros's quote in my sig. Neither am I trying to show anyone how to trade or share with anyone a trading method, 'awesome' or otherwise, it would be a pointless exercise besides which there are plenty of threads in the Trading Systems forum if that's what people are looking for!

As for the "secrets of price movement", really, are you serious about that?

I offered a virtual handshake and wished you good trading but obviously now wasn't the best time to offer it, what with your trade and all. It's still there when you've calmed down a bit!

I agree with Setebos, our little discussion is futile and non-productive so if there's nothing new I'll retire from it if you don't mind and get back to discussing the topic of the thread which I think is constructive and productive!
  • #45
  • Mar 24, 2010 5:32am Mar 24, 2010 5:32am
Milenko of course we are worried- The only measurement of success in this business is your profit factor. We are here to learn- from people who know what they are doing. I dont see why people are so worried about transparency, No one is looking for how much money people are earning- just weather people are profiatable i.e profit factor .
Personally i think this obvious and am pretty skeptical about people dishing out advice but who wish to hide this.

Whats your PF Milenko? Darkstar? Scotty? Pipmutt? why not see where we stand- Lie if you wish but whats the point.
  • #46
  • Mar 24, 2010 5:35am Mar 24, 2010 5:35am
Quoting abritton76
We are here to learn- from people who know what they are doing.
You are clearly lost then.

Clicking the little white cross in the red box at the top right of your screen should set you off in the right direction.
  • #47
  • Mar 24, 2010 5:37am Mar 24, 2010 5:37am
Hmmm i reckon you are right Aston. I have learnt a lot though at these forums (well mainly what doesn't work)
Why are you here then? teacher, pupil or tormentor?
  • #48
  • Mar 24, 2010 5:39am Mar 24, 2010 5:39am
Quoting abritton76
Hmmm i reckon you are right Aston. I have learnt a lot though at these forums (well mainly what doesn't work)
Why are you here then? teacher, pupil or tormentor?
Bored.
  • #49
  • Mar 24, 2010 5:43am Mar 24, 2010 5:43am
Quoting AstonDan
You are clearly lost then.

Clicking the little white cross in the red box at the top right of your screen should set you off in the right direction.
Which little white cross in the red box, do you mean thi...........
  • #50
  • Mar 24, 2010 5:43am Mar 24, 2010 5:43am
Quoting AstonDan
Bored.
I thought I'm alone on this one
  • #51
  • Mar 24, 2010 6:43am Mar 24, 2010 6:43am
The issue here is Scotty has proclaimed has "got it" and is banning people from his thread who dare to question his methods or reasoning. That alone is a joke, but add to this the fact that His calls are the opposite of what the Market does makes it comical. Maybe if you fade scotty you will have an edge.
Economists have forecast 9 out of the last 5 recessions
  • #52
  • Mar 24, 2010 6:52am Mar 24, 2010 6:52am
Quoting markmm
The issue here is Scotty has proclaimed has "got it" and is banning people from his thread who dare to question his methods or reasoning. That alone is a joke, but add to this the fact that His calls are the opposite of what the Market does makes it comical. Maybe if you fade scotty you will have an edge.

It appears to me that scotty is looking at short term order flow and then trade long term. I could be wrong as the whole thread is so vague but if so it is a sure way to loose some cash. I guess time will tell if he's "got it", I wish him all the luck.
  • #53
  • Mar 24, 2010 7:05am Mar 24, 2010 7:05am
Scotty's thread is an interesting thread although a bit deja vu.
Most the time they are looking for option barriers and waiting for the defence to break (which just happened on the eur/usd).
Basically trading breakouts at the big round numbers i reckon but they seem to like to jazz it up a bit and over complicate their reasoning in my opinion.
I hope he has "got it" as he has certainly done a lot of homework.
I dont dare ask what his profit factor is. As with all the respected traders around here they (or there followers) get a little touchy when asked.
  • #54
  • Mar 24, 2010 7:12am Mar 24, 2010 7:12am
Quoting markmm
The issue here is Scotty has proclaimed has "got it" and is banning people from his thread who dare to question his methods or reasoning. That alone is a joke, but add to this the fact that His calls are the opposite of what the Market does makes it comical. Maybe if you fade scotty you will have an edge.
Scotty is banning people from his thread!? Hmm interesting.
  • #55
  • Mar 24, 2010 7:19am Mar 24, 2010 7:19am
Everyone knows who the true master is: The market.

Not to mention certain market definitions.

And betting against the market is a losing proposition especially when someone ignores the trend (a strong one ATM) clearing telling them "this thing hasn't turnaround just yet" no matter what TA/FA/News/Orderflow or Tea Leafs say.

I do happen to prefer TA but would never take a reversal trade until there is some kind of confirmation after the chart indicates time to go up. Yes even then it can be a loser. But I would never "catch a falling knife".

BTW I also have no free live signal trade or system thread, because another thing about the market, it has no ego and neither should a trader. Rock and roll is for groupies, not trading.
  • #56
  • Mar 24, 2010 7:23am Mar 24, 2010 7:23am
Quoting SunTrader
Rock and roll is for groupies.
A gem.
  • #57
  • Mar 24, 2010 11:26am Mar 24, 2010 11:26am
Last night was certainly not one of my finest hours. In case anyone missed it, I took a hit for $50 large on the e/u trade and I wasn't too pleased with it. Then I came on here and Pipmutt was rubbing salt in the wound. I'm actually pleased with myself that I didn't say worse. Still, I don't think anyone is interested in listening to pip and I argue, so I wanted to apologize for wasting everyone’s time doing so.

Pip, I think it's fairly evident you and I are not fond of each other. I don't know that anything is going to change that, but I'm willing to accept your virtual handshake and let it go. However, I have no interest in continuing this back and forth in other subjects either. We both have better things to do then argue on a forum, so lets agree to disagree and just stay out of each others way. I won't comment on anything you say or do if you'll agree to show me the same courtesy.

I'll patiently await your reply.
  • #58
  • Mar 24, 2010 11:56am Mar 24, 2010 11:56am
Quoting Darkstar
Last night was certainly not one of my finest hours. In case anyone missed it, I took a hit for $50 large on the e/u trade and I wasn't too pleased with it. Then I came on here and Pipmutt was rubbing salt in the wound. I'm actually pleased with myself that I didn't say worse. Still, I don't think anyone is interested in listening to pip and I argue, so I wanted to apologize for wasting everyone’s time doing so.

[color=black][font=Verdana]Pip, I think it's fairly evident you and I are not fond of each other....
Nothing personal DS, these are open discussion forums for openly discussing, it would be boring if we all agreed all the time! I'm sure we should be able to put our respective points across rationally without falling out over it, debate can be very constructive if it's sensible! (unlike the UK budget today, bunch of overgrown schoolkids being broadcast across the world on every financial news channel, that was embarrassing!)

If you think our little disagreement was bad you want to try working for one of the institutions, I've heard it can get quite 'heated' at times!

Anyway like I say, good trading to you!
  • #59
  • Mar 24, 2010 9:16pm Mar 24, 2010 9:16pm
it's a great day for Forex Factory.
that's how it should be -- short & swift.
  • #60
  • Mar 25, 2010 1:57am Mar 25, 2010 1:57am
Quoting supremeChaos
it's a great day for Forex Factory.
that's how it should be -- short & swift.
It could have gone on longer if we'd got round to discussing his choice of knitwear, but I figured the guy's got enough problems....!
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