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Let's be Honest

  • #101
  • Nov 13, 2010 4:13pm Nov 13, 2010 4:13pm
Quoting CindyXXXX


If I were one of you guys listening to this shit I would prob post

"Cindyxxxx you talk and talk and talk but Ive never seen you post a live chart... You're a fking hypocryte and you know no better than the rest of us"

and to that I would say

"shit, you're fking right" and then I would realise that the market speaks no language but supply and demand...Takes many forms, and uh... who am I talking to really? and now Im just talking again...

Whatever

What Patience said.
spot on ........ SUPPLY & DEMAND...... That's all the market has to offer. Questions is for any trader which level will hold?

Trading is a simple as that, for me there is no need to confuse the situation with any other variable.

At the end of the day the level will either hold or you will be stopped out, simple.
  • #102
  • Nov 13, 2010 9:34pm Nov 13, 2010 9:34pm
Quoting CindyXXXX


If I were one of you guys listening to this shit I would prob post

"Cindyxxxx you talk and talk and talk but Ive never seen you post a live chart... You're a fking hypocryte and you know no better than the rest of us"
And I would say it doesn't matter. All a posted trade can do is help illustrate the theory behind the trade. A trade is nothing more than an entry and an exit. I prefer discussing concepts than trades. I think focusing too much on the trades of others can actually be harmful, as it might lead to an attempt to copy their trades, rather than identifying and incorporating any solid reasoning.
  • #103
  • Edited 7:06am Nov 14, 2010 7:05am | Edited 7:06am
Quoting Mr J
And I would say it doesn't matter. All a posted trade can do is help illustrate the theory behind the trade. A trade is nothing more than an entry and an exit. I prefer discussing concepts than trades. I think focusing too much on the trades of others can actually be harmful, as it might lead to an attempt to copy their trades, rather than identifying and incorporating any solid reasoning.
Spot on, Mr J! As if indicator and account balance envy weren't enough, people are constantly bombarded by their own minds to take the same trades as they see other traders take on a public forum - in a sense we are like monkeys desperately trying to copy the monkey next to us who succeeded in opening the coconut. I've learned that the hard way, trying to find confirmation for my trades from other traders and failing miserably. It doesn't end well because at the end of the day, we all see different opportunities and use varying amount of leverage. Patience is also something that has been very unevenly distributed among the human population, making the observe and repeat process even more complicated. I guess we need to remind ourselves that trading is not something we primates did when we ran around butt-naked around Africa. Back then copying your fellow primates was an endeavor with a markedly high success rate due to the simplicity and straight-forwardness of the tasks (compared to trading, that is). This is something that stands true today - anyone who has had to learn to use the can opener or start a fire in the natural environment can back this up. However, when it comes to tasks such as driving or trading, it is the process and the interconnectedness of the various facets of driving/trading that are important. You're not very likely to avoid accidents when you start driving like Stig from day one (copying). He is a professional and has been training for years (experience). He can push any car to the limit because he knows how cars works (technical knowledge) and he knows how to handle them (knowledge from experience). Some of us will never learn to drive like the Stig (who am I kidding, it's most of us). The same goes for trading. Copying is not good enough in a nonlinear environment*, you need knowledge and experience.

All of this reminds me of a quote I heard some while ago: be yourself, everybody else is already taken (I really can't remember who said it, google attributes this to several people). Obviously this is something that has been said one way or the other by a number of people but that's just because it's important. This doesn't mean that you should dress like Lady Gaga just to avoid looking like everybody else (id est other people wear jeans so I'm not going to). Going back to trading, this means that you should take what you feel works for you and discard what doesn't even if that which is to be discarded was recommended by a good trader (this includes types of entries, exits, MM rules etc.).

Just thinking out loud, it's not something directed at you, Mr J.

*In a linear environment, action A is guaranteed to results in result A', in a nonlinear environment action A can bring about any number of results from A' to Z'
If you don't risk, you don't ever have to lose.
  • #104
  • Nov 14, 2010 7:12am Nov 14, 2010 7:12am
Hi guys been reading your posts and hesitant to reply simply becasue secretly Im hoping this thread will just die!

lower...(yes)....lower (yeees)....lower (thats it) BUMP!.... ohhh shit

But some good discussion going on, thanks.

Yeah MJ it was more a dig at myself and the way I have "given advice" to people in the past when really I shouldnt see myself as so qualified to do so... But I wouldnt be the first of course and certainlly not the last, as Bug pointed out.

Fantastic quote there too Bug

"be yourself, everybody else is already taken" Such a great point to reach as an aspiring trader when you finally stop trying to copy other people and strat creating your own crazy methods... Thats when the fun really starts! No one else to blame anymore but yourself
Time hides Nothing
  • #105
  • Nov 14, 2010 7:17am Nov 14, 2010 7:17am
Quoting Mr J
And I would say it doesn't matter. All a posted trade can do is help illustrate the theory behind the trade. A trade is nothing more than an entry and an exit. I prefer discussing concepts than trades. I think focusing too much on the trades of others can actually be harmful, as it might lead to an attempt to copy their trades, rather than identifying and incorporating any solid reasoning.

yeah a concept can be adapted to your own trading technique. I wouldn't go so far as to say focusing on trades could be harmful, unless you focus so much that it clouds your better judgement.

By seeing the trades of others it might unlock something, so you the concepts of a different way to go about it which in turn hands you a key to unlock further mystery.

True a trade is nothing more than an entry and exit. You could focus on reasons why the trade was entered where it was and whether the trade was executed well. In the end I don't know of anyone who has had the ability to assume another traders trading style... even if you know all the rules of the strategy.

At the end of the day we are all trying to keep our nubsauce from getting on things we would rather keep it off of.

Lastly nubcake, we all have losses. Don't beat yourself up too much.... but don't take it for granted either. You have to learn from what you did wrong or change course all-together.

I remember very well when I was the nub... and how angry and frustrated I could get over 1000 and 1 blown demo accounts. Every week the same thing. It's only when you get this down will you make some decent progress. I can really tell you repetition teaches like no other.
  • #106
  • Nov 14, 2010 8:51am Nov 14, 2010 8:51am
Quoting pip_seeker
I remember very well when I was the nub... and how angry and frustrated I could get over 1000 and 1 blown demo accounts. Every week the same thing. It's only when you get this down will you make some decent progress. I can really tell you repetition teaches like no other.
So true.

Yet again Cindy starts another very inspiring discussion with some very interesting and useful contributions. Thanks all.

I too have followed, but failed to emulate many successful traders methods on this forum and elsewhere. The experience whilst frustrating was very well worth it because now I have learned about and used bits of all those peoples trading styles and developed my own method using multi time frame trend analysis and support and resistance that I have utter confidence in because I totally understand it.

For me the most important point about devising your own trading rules is that when a trade fails you can work out exactly what you did wrong.
  • #107
  • Nov 14, 2010 9:47am Nov 14, 2010 9:47am
Thanks Jag
Time hides Nothing
  • #108
  • Nov 14, 2010 10:01am Nov 14, 2010 10:01am
Quoting pip_seeker
At the end of the day we are all trying to keep our nubsauce from getting on things we would rather keep it off of.

Lastly nubcake, we all have losses. Don't beat yourself up too much.... but don't take it for granted either. You have to learn from what you did wrong or change course all-together.

I remember very well when I was the nub... and how angry and frustrated I could get over 1000 and 1 blown demo accounts. Every week the same thing. It's only when you get this down will you make some decent progress. I can really tell you repetition...
sadly i don't think i can give it up... it's in my blood, or bowels. it's somewhere, anyway.

puzzles piss me off, and this one doesn't have a simple youtube answer to scratch that itch.
Congratulations ScalaFX for coming out of the closet!
  • #109
  • Nov 21, 2010 12:20pm Nov 21, 2010 12:20pm
Quoting Craig
I'm not altogether sure what this thread is about, but it seems you (the OP) need some inspiration or direction (or maybe both), I can't give any direction, cause let's face it, it's a jungle out there. But for inspiration I suggest reading this thread http://www.elitetrader.com/vb/showth...hreadid=187730, this guy is the real deal, no signing up for signals, espousing indicators, self hypnosis or vague hyperbole. He just (as he says) grinds it out day after day. Some time spent reading it, I feel, would be more valuable than...
Just wanted to add my thanks for the link. It really struck a chord with me and has given me a lot to think about.











P.S. @Cindy: BUMP!
  • #110
  • Nov 21, 2010 2:11pm Nov 21, 2010 2:11pm
Quoting eurotrash

P.S. @Cindy: BUMP!
Time hides Nothing
  • #111
  • Nov 22, 2010 7:15am Nov 22, 2010 7:15am
Learn to trade, start trading, lose a fair amount of money (most are done here), lose less money, break even for ages, make some money, make that money make more money, make so much money that you are financial secure and don't need to trade so much, do some totally worthwhile voluntary work in your spare time. Make a difference.

So many people want to complicate things with their thoughts.

It's not honourable but little is. Businesses take business from their competitors. Trading is just the same. Nothing good will come of it other than for your pocket if you're one of the chosen few. That doesn't mean that you can't make something good come as a result of it.

So much over-thinking going on. Just get on with it!
  • #112
  • Nov 22, 2010 7:30am Nov 22, 2010 7:30am
How do you close a thread?
Time hides Nothing
  • #113
  • Nov 22, 2010 7:37am Nov 22, 2010 7:37am
Quoting CindyXXXX
How do you close a thread?
I'm not sure if you can close it without Twee's help but you can change the minimum vouch requirement to 11v which should be enough to get most of us to find a new thread to hang in.
If you don't risk, you don't ever have to lose.
  • #114
  • Last Post: Edited 8:02am Nov 22, 2010 7:39am | Edited 8:02am
Quoting bug
I'm not sure if you can close it without Twee's help but you can change the minimum vouch requirement to 11v which should be enough to get most of us to find a new thread to hang in.
jajaja

all you guys down there - Go AWAY... Go on shoo shoo



Try This one
Time hides Nothing
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