Attachments: The Really Useless Thread

The Really Useless Thread

#54,101
Feb 4, 2012 12:26pm Feb 4, 2012 12:26pm

Chillypiper
Joined Sep 2010 | Status: MR. NOBODY | 3,042 Posts

Quoting pkimnyc

Disliked

one more note regarding margin call. this sorta applies to new comers in trading business:

it actually is not a bad experience, now that i think about it.
having a margin call was a big wake up call, in my case.
that really taught me a lot. not about the technicality of trading side. the way i traded in the past, wtf i was doing wrong and all that other stuff that you've read in the couple of posts ago regarding rules.

margin calls do 2 things. you either give up or you move on.
when you do move on, you move on with much valuable lessons...

Ignored

Your a wise Mofo PK ! I think alot (including myself) need to as much time in self evaluation in to market evaulation...

With that being said, man I will never be perfect, nor do I expect my self to be. Rules of engagement must be followed closely. I have some many rules, I don't even follow them to much anymore...

Thank you for my self awareness. I thought I was...Funny...After 60hrs a week for 20 Months my head is going to explode with all the information. Its time for me to wright (consolidate)my own rule book, for me and get this shit back to some what more simple playing field for my self.

I should have and will have (before I trade again). As a promise to my self, My five absolute rules of engagement.. I will fix this and surely is a flaw...

#54,102
Feb 4, 2012 12:38pm Feb 4, 2012 12:38pm

Chillypiper
Joined Sep 2010 | Status: MR. NOBODY | 3,042 Posts

Think I'll start with the suntan theory..

Inserted Video

#54,103
Feb 4, 2012 12:51pm Feb 4, 2012 12:51pm

pkimnyc
Joined Oct 2007 | Status: Sniper | 14,770 Posts

Quoting Chillypiper

Disliked

Think I'll start with the suntan theory..

http://www.youtube.com/watch?v=DKlVn...yer_detailpage

Ignored

that's a great theory.

#54,104
Feb 4, 2012 1:07pm Feb 4, 2012 1:07pm

wannaberich
Joined Aug 2009 | Status: (I have a huge) Member | 5,555 Posts

while i read all the great input (thanks) i was wondering that maybe my biggest mistake was assuming that we HAD TO pullback some. so i was taking smaller profits on the bull moves and letting the shorts run back to be or almost cause i was assuming that we'd have that pull back. one or two days ago the only bastard here that apreciates kills gifs more than me (PK) said something extremely simple, maybe you all were aware of it, but truth be told i wasn't. fucking simple: after a stong move we pullback OR WE CONSOLIDATE! this means (talking to myself here) that we won't necessarely pullback. guess that was my biggest flaw this week. price stalled, i assumed we would turn and we didn't: sideways was the deal. aha moment here.

by the way: since your heading to kill's for hashoo and sex can i keep the batman game

dreams do come true.

#54,105
Edited 1:32pm Feb 4, 2012 1:17pm | Edited 1:32pm

pkimnyc
Joined Oct 2007 | Status: Sniper | 14,770 Posts

Quoting wannaberich

Disliked

since your heading to kill's for hashoo and sex can i keep the batman game

Ignored

screw the batman, he's right here. come over and join us.

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#54,106
Feb 4, 2012 2:10pm Feb 4, 2012 2:10pm

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

weekly lint bins..

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Look Sharp/Trade Tight

#54,107
Edited Feb 5, 2012 11:06am Feb 4, 2012 2:12pm | Edited Feb 5, 2012 11:06am

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

a few other levels I might consider....

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Look Sharp/Trade Tight

#54,108
Feb 4, 2012 2:39pm Feb 4, 2012 2:39pm

fxjawn
Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts

whoa a weekend visit from "the limit" no way

#54,109
Feb 4, 2012 2:45pm Feb 4, 2012 2:45pm

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

briefly..

Look Sharp/Trade Tight

#54,110
Feb 4, 2012 3:07pm Feb 4, 2012 3:07pm

fxjawn
Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts

Quoting PayTheLimit

Disliked

briefly..

Ignored

btw thats your new nick name "THE LIMIT"

PTL "THE LIMIT" SANCHEZ

#54,111
Feb 4, 2012 3:17pm Feb 4, 2012 3:17pm

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

Quoting fxjawn

Disliked

btw thats your new nick name "THE LIMIT"

PTL "THE LIMIT" SANCHEZ

Ignored

I dont like it, I love it.

Look Sharp/Trade Tight

#54,112
Feb 4, 2012 3:29pm Feb 4, 2012 3:29pm

fxjawn
Joined Jun 2011 | Status: UN-RE-TIRED | 12,773 Posts

Quoting PayTheLimit

Disliked

I dont like it, I love it.

Ignored

aweseome put it under your name lol

#54,113
Feb 4, 2012 3:49pm Feb 4, 2012 3:49pm

attila
| Membership Revoked | Joined Mar 2009 | 16,693 Posts

A couple of things to think about.... When you are wrong, it's easy. You know it pretty quickly and you do whatever you have to do. Being right is a big problem because no matter what you do, it will be wrong. I know it's a little confusing but give it some thought.. You will either exit early or late. Very very rarely will the exit be correct. The way I deal with it, and I couldn't find a better way than this... I set very reasonable targets. Mental targets that is... If the price goes strong into them I might let it run a little bit more... Then there are 2 things I pay attention to. First is if I start thinking I should get out, then I know it's time to get out. Secondly, I look for reversal patterns, hesitation around important s/r. I don't know what else to say about this subject... I think it's one of the trickiest..

#54,114
Edited Aug 28, 2017 1:56pm Feb 4, 2012 4:41pm | Edited Aug 28, 2017 1:56pm

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

I saw Linda Raschke on the " Floored " movie , here's an ebook I got as a freebie
if anybody wants it

{ copyrighted attachment deleted by staff }

#54,115
Feb 4, 2012 5:25pm Feb 4, 2012 5:25pm

Chicky
Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts

Quoting attila

Disliked

A couple of things to think about.... When you are wrong, it's easy. You know it pretty quickly and you do whatever you have to do. Being right is a big problem because no matter what you do, it will be wrong. I know it's a little confusing but give it some thought.. You will either exit early or late. Very very rarely will the exit be correct. The way I deal with it, and I couldn't find a better way than this... I set very reasonable targets. Mental targets that is... If the price goes strong into them I might let it run a little...

Ignored

I do more or less the same. If position sizes are big and sl tight, easy to close or even open in the revese direction. But once pa progress several pips, choices get limited.

The Thief of Wall Street