Food for Trading Thought | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

food for thought 4 replies

Just some food for thought... 52 replies

Some food for thought 2 replies

Attachments: Food for Trading Thought
Exit Attachments

Food for Trading Thought

  • #1
  • First Post: Nov 6, 2013 7:38pm Nov 6, 2013 7:38pm
Here, you are free to post (within FF rules) whatever thoughts, ideas, moans and groans, inspirations.......
related to trading whatever can be traded.

Here's an article that may seem to suggest that most traders won't be around 5 years from now.
Trading takes a toll, there's no doubt. How will you decide if it's worth it?

http://www.businessinsider.com/12-th...ollars-2013-11
When the Joker is in the deck.. fear not and play it well
  • #2
  • Nov 6, 2013 8:17pm Nov 6, 2013 8:17pm
In reference to the above article;

12 Things I Learned About Life From Daytrading Millions Of Dollars


Read more: http://jamesaltucher.quora.com/12-or...#ixzz2jvCFhsgq

What have YOU learned. Has it nearly killed you?

Have you learned that you CAN'T predict the future? So the best that you can do is to trade your
method ?

Do you take enough risks, do you take too many? Questions that each should answer.
When the Joker is in the deck.. fear not and play it well
  • #3
  • Nov 6, 2013 8:46pm Nov 6, 2013 8:46pm
"Only those who will risk going too far can possibly find out how far one can go." - T.S. Eliot

But when is it TOO much ?
When the Joker is in the deck.. fear not and play it well
  • #4
  • Nov 6, 2013 9:08pm Nov 6, 2013 9:08pm
Quoting Slim Buffett
Have you learned that you CAN'T predict the future?
If you learned that you can't predict the future ... that means that you believed first that it was possible ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Nov 6, 2013 9:14pm Nov 6, 2013 9:14pm
Here's why I'm wary of trading USD/JPY, at least until after NFP.
It's so constipated...... eerrr, consolidated on the weekly.............

Something will happen... any guesses as to what that might be ??
Attached Image (click to enlarge)
Click to Enlarge Name: wary.png Size: 30 KB
When the Joker is in the deck.. fear not and play it well
  • #6
  • Nov 6, 2013 9:23pm Nov 6, 2013 9:23pm
Quoting FerruFx
{quote} If you learned that you can't predict the future ... that means that you believed first that it was possible ...
Yet 99% of this forum is dedicated to people trying to predict the future. My personal two cents is that trading should be amazingly boring....rote....routine. I'm completely over trying to untie the Gordian Knot.
There's always money in the banana stand.
  • #7
  • Nov 6, 2013 9:42pm Nov 6, 2013 9:42pm
Quoting FerruFx
{quote} If you learned that you can't predict the future ... that means that you believed first that it was possible ...
But isn't it true that "belief" motivates us into action ??
I can't predict the future but I still believe
that I may be alive tomorrow and therefore I may take a trade that I "believe" in.

Would you say (could you say) that each trade you take is a belief or a prediction ?

Or would you say that it's neither a belief or prediction but simply a trade based
upon the best knowledge that you have?
When the Joker is in the deck.. fear not and play it well
  • #8
  • Nov 6, 2013 9:51pm Nov 6, 2013 9:51pm
Quoting LizardGizzard
{quote} Yet 99% of this forum is dedicated to people trying to predict the future.
I think that's true............... however, any time you take a trade; aren't you attempting
to predict the future? You "predict" that the trade will go in your favor. Isn't that the same?

But really............ if you have a method/system then you should just do that.
It's like a job, right? Just do what you're told (via the method)?
When the Joker is in the deck.. fear not and play it well
  • #9
  • Nov 6, 2013 9:58pm Nov 6, 2013 9:58pm
True that it is kind of boring and rote but for someone who is starting out... it could be quite exciting and they would need all the help. I think for any newbies they need to learn the tricks of the trade first by educating themselves as much as they can before "taking the plunge" otherwise one can end losing lot of money.
  • #10
  • Nov 6, 2013 10:22pm Nov 6, 2013 10:22pm
Quoting Slim Buffett
Would you say (could you say) that each trade you take is a belief or a prediction ? Or would you say that it's neither a belief or prediction but simply a trade based upon the best knowledge that you have?
An entry is based on what the market is telling you.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Nov 6, 2013 10:45pm Nov 6, 2013 10:45pm
Quoting FerruFx
{quote} An entry is based on what the market is telling you.
Agreed.
So you must have a METHOD to determine what the market is telling you. Right?

Regardless, you might be able to imagine that your reply is a bit vague to some.

It doesn't matter.

It's just food for thought.
When the Joker is in the deck.. fear not and play it well
  • #12
  • Nov 6, 2013 10:48pm Nov 6, 2013 10:48pm
Quoting Slim Buffett
{quote} Agreed. So you must have a METHOD to determine what the market is telling you.
My eyes are my best trading tool ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #13
  • Nov 7, 2013 4:41am Nov 7, 2013 4:41am
Quote
My eyes are my best trading tool ...


I bet your logic is a better tool!


Ok, but how about intuition? hasn't anyone ever traded just because it felt like a good decision?
  • #14
  • Nov 7, 2013 7:49pm Nov 7, 2013 7:49pm
I'm not a big fan of MA crossovers but sometimes it seems that MA's are worthwhile.

I'll present these charts as an example. Your opinion is valued.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: epic1.png Size: 38 KB
Click to Enlarge Name: epic2.png Size: 38 KB
When the Joker is in the deck.. fear not and play it well
  • #15
  • Nov 7, 2013 7:53pm Nov 7, 2013 7:53pm
Quoting Slim Buffett
I'm not a big fan of MA crossovers but sometimes it seems that MA's are worthwhile. I'll present these charts as an example. Your opinion is valued. {image} {image}
Yes looks great.

MAs like most of indicators work great when price is in a nice trend.
MT4/MT5 EAs/Indicators/Alerts coder
  • #16
  • Nov 7, 2013 8:06pm Nov 7, 2013 8:06pm
Quoting FerruFx
{quote} MAs like most of indicators work great when price is in a nice trend.



But does it seem that you can detect a trend CHANGE and at times, S/R by using MA's ?
I ask because you might notice that, on the second chart, price continued to bounce off
the "orange" MA.

Anyway, not important.
Just food for thought.
When the Joker is in the deck.. fear not and play it well
  • #17
  • Nov 7, 2013 8:23pm Nov 7, 2013 8:23pm
Quoting Slim Buffett
... but sometimes it seems that MA's are worthwhile....
MA's (ofc not just alone) are used by wide spectrum of trader irrespective of profile i.e. retails/ private pro's/institutional's
Anything used by large to majority of market participants has got to have some attract/repel properties AFA price is concerned (behavior related patterns come into picture) and IMO should be looked/taken into account. Thats what it is all about.

Hope this helps




P.S. Personally i always look at them;Entering/Exiting/Modifying Trades based on MA's is a different/difficult story
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #18
  • Nov 7, 2013 8:26pm Nov 7, 2013 8:26pm
Quoting Slim Buffett
Here's why I'm wary of trading USD/JPY, at least until after NFP. It's so constipated...... eerrr, consolidated on the weekly............. Something will happen... any guesses as to what that might be ?? {image}
Where will it go now ?? I'm thinking of selling but suppose I'll wait (still) for NFP.
good trading to all
Attached Image (click to enlarge)
Click to Enlarge Name: wary.png Size: 38 KB
When the Joker is in the deck.. fear not and play it well
  • #19
  • Nov 12, 2013 3:29pm Nov 12, 2013 3:29pm
Are MA based trading methods even worth considering?

Sometimes it seems like "yes"
Attached Image (click to enlarge)
Click to Enlarge Name: wary.png Size: 39 KB
When the Joker is in the deck.. fear not and play it well
  • #20
  • Nov 12, 2013 3:47pm Nov 12, 2013 3:47pm
Quoting FerruFx
{quote} If you learned that you can't predict the future ... that means that you believed first that it was possible ...
You don't always have to predict the future. If you want to catch rain, you don't have to know when it's going to rain, all you have to do is hold out a bucket.
0 traders viewing now