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food for thought 4 replies

Just some food for thought... 52 replies

Some food for thought 2 replies

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Food for Trading Thought

  • #61
  • Nov 30, 2013 2:35am Nov 30, 2013 2:35am
2. (succinct summation)


“Trading Without a Stop Loss”

If one wants to trade without a stop then go ahead. You might be the next greatest thing (take that as good or bad). As have many others you may need to go thru a few bankruptcies first but that doesn't mean you can never do it. Someone mentioned Henry Ford and “if you think you can do it you can, if you think you can't, you can't”

Ford (nearly) went bankrupt and many have (went bankrupt) and went on to greatness but were still able to pull themselves up. Can you?

But for thought
BE PATIENT WITH WINNING TRADES; BE ENORMOUSLY IMPATIENT WITH LOSERS:

Read more:http://www.businessinsider.com/dennis-gartmans-19-rules-of-trading-2013-11#ixzz2m4f4QQcM

“Trading Without a Stop Loss”

If one wants to trade without a stop then go ahead. You might be the next greatest thing (take that as good or bad). As have many others you may need to go thru a few bankruptcies first but that doesn't mean you can never do it. Someone mentioned Henry Ford and “if you think you can do it you can, if you think you can't, you can't”

Ford (nearly) went bankrupt and many have (went bankrupt) and went on to greatness but were still able to pull themselves up. Can you?

But for thought
BE PATIENT WITH WINNING TRADES; BE ENORMOUSLY IMPATIENT WITH LOSERS:

Read more:http://www.businessinsider.com/dennis-gartmans-19-rules-of-trading-2013-11#ixzz2m4f4QQcM
When the Joker is in the deck.. fear not and play it well
  • #62
  • Nov 30, 2013 3:10am Nov 30, 2013 3:10am
3.
“Succinct Summation”

Control versus out of control.

Regardless of the difference the band has an "agenda"

Can you relate that to trading?? IDK.

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When the Joker is in the deck.. fear not and play it well
  • #63
  • Nov 30, 2013 3:37am Nov 30, 2013 3:37am
Quoting Slim Buffett
{quote} Different strokes..... as they say. I traded M15 fairly successfully for quite a while. Somehow, I couldn't understand staring at that in terms of 20 or 40 years so decided to (try) and switch to longer term, most 4H. Hopefully, I could "check" on charts rather than give my life to them. The transition can be painful but you sometime (at some point) realize that the "method" doesn't differ so greatly but the duration lasts a lot longer. Just food for thought Mr. Turveyd. All the best.
Haven't got to trade every day, I do a lot of it off my phone and tablet, so not stuck at home these days, set some alarms and just tweak those as it goes.

My method is built to take intraday swings, can't do it slower than M5, so not always.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64
  • Nov 30, 2013 3:55am Nov 30, 2013 3:55am
Quoting Turveyd
{quote} Haven't got to trade every day, I do a lot of it off my phone and tablet, so not stuck at home these days, set some alarms and just tweak those as it goes. My method is built to take intraday swings, can't do it slower than M5, so not always.

I know you've been around for a long time. I respect that. IMHO, if you don't want (can't)
spend all your time looking at charts then look at longer time frames. I'm not saying
that one is better than the other

Just check it out.
Maybe we'll party together in the Islands someday......................


(less time staring) ??
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When the Joker is in the deck.. fear not and play it well
  • #65
  • Nov 30, 2013 5:21am Nov 30, 2013 5:21am
Quoting Slim Buffett
{quote} I know you've been around for a long time. I respect that. IMHO, if you don't want (can't) spend all your time looking at charts then look at longer time frames. I'm not saying that one is better than the other Just check it out. Maybe we'll party together in the Islands someday...................... (less time staring) ?? {image}

The earning potential just isnt there, maybe if I had 100k and I was happy with 30% per year,but I haven't so go bigor don't bother for me only.

M5 I can flip say 5 trades per day,75% win rate so only 1 loser, although I'm not there yet,10%-30% per day should be achieveable, initially obviously scale back as account grows sadly.

No guarantee forex is for ever, go full time soon ( find out next week if I lose main client ) maybe real soon, trade hard, get rich ish, then just trade part time.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66
  • Dec 2, 2013 1:47pm Dec 2, 2013 1:47pm
And this, previously posted by someone else (sorry, I've forgotten the username), is worth the study. I suppose it's a “succinct summation” of what you/we should be trying to accomplish.
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When the Joker is in the deck.. fear not and play it well
  • #67
  • Dec 2, 2013 2:16pm Dec 2, 2013 2:16pm
Something for recent "events".



All this frustration
I can't meet all my desires
Strange conversation
Self-control has just expired
All an illusion
Only in my head you don't exist
Who are you fooling
Don't need a shrink but an exorcist

Show me the movie
Of who you are and where you're from
Born of frustration

Caught up in the webs you've spun
Where's the confusion
A vision of what life is like
Show me the movie
That doesn't deal in black and white

Stop stop talking about who's to blame
When all that counts is how to change
Stop stop talking about who's to blame
When all that counts is how to change

All this frustration
All this frustration
Who put brown owl eyes on a butterfly's wings
All this frustration
All this frustration
Who gave the leopards spots and taught the birds to sing

Born of frustration
Born of frustration

I'm living in the weirdest dream
Where nothing is the way it seems
Where no one's who they need to be
Where nothing seems that real to me
What can we build our lives upon
No wall of stone, no solid ground
The world is spinning endlessly
We're clinging to our own beliefs

Born of frustration
Born of frustration

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When the Joker is in the deck.. fear not and play it well
  • #68
  • Dec 7, 2013 7:33pm Dec 7, 2013 7:33pm
Know this......

The odds ARE stacked against you.
Anyone who "wins" beats the odds.

Practice "beating the odds"........

When the deck is stacked against you....

Will you fold or play a greater hand ??
When the Joker is in the deck.. fear not and play it well
  • #69
  • Dec 9, 2013 3:34pm Dec 9, 2013 3:34pm
Food for trading thought....

Quoting CrucialPoint
5 Reasons Why Traders Lose 1. Deductive reasoning - not enough IQ Not having enough deductive reasoning is the result of becoming like a sheep. When one yells "Witch!", you also join the crowd for a witch hunt. The ability to question what you do and why you do is the biggest Crucial Point. And the inability to do so will lead to a failed trader. ............
http://www.forexfactory.com/showthre...=7143275#reply
"Trading: It Is All About Pattern"
"I am a right brained, left handed person who likes life more laissez faire than orderly. And if there was one thing I learned after spending 20-years on a trading floor it was EQ (emotional quotient) was better than IQ (intelligence quotient).

http://seekingalpha.com/instablog/16...-about-pattern
When the Joker is in the deck.. fear not and play it well
  • #70
  • Jan 18, 2014 7:16pm Jan 18, 2014 7:16pm
https://encrypted-tbn0.gstatic.com/i...nIEZhcsT1gjga-
When the Joker is in the deck.. fear not and play it well
  • #71
  • Jan 18, 2014 7:29pm Jan 18, 2014 7:29pm
'Trending vs Range Bound Markets.. teb63

I think one of the two or three great questions to trading is?
What kind of market you are in ! "

I believe there are trending, ranging and consolidated markets.
Trending and ranging can be traded. Consolidated is difficult unless
you scalp for a few pips ??
When the Joker is in the deck.. fear not and play it well
  • #72
  • Jan 21, 2014 10:24pm Jan 21, 2014 10:24pm
Part of understanding oneself in today's market versus trading
during "the crisis", circa '08

I made decent money in "the crisis". One could trade the 15m chart and gain 70 pips or so
in 30 minutes sometimes.

This begs the question..... what has all the regulation and "consumer protection" really done.

It's a lot more boring..... that's for sure. But I haven't made any more money (on a time/money basis)

So, what good is (over) regulation except to limit profits.......

No one seems to have enough balls to reply to this thread so just take
it as food for thought
When the Joker is in the deck.. fear not and play it well
  • #73
  • Jan 21, 2014 10:34pm Jan 21, 2014 10:34pm
bump
When the Joker is in the deck.. fear not and play it well
  • #74
  • Jan 21, 2014 11:09pm Jan 21, 2014 11:09pm
bump
When the Joker is in the deck.. fear not and play it well
  • #75
  • Jan 21, 2014 11:37pm Jan 21, 2014 11:37pm
http://empireminecraft.com/attachments/556-jpg.15731/
The single most important factor is having control of your own life.
  • #76
  • Jan 21, 2014 11:42pm Jan 21, 2014 11:42pm
bump
When the Joker is in the deck.. fear not and play it well
  • #77
  • Jan 21, 2014 11:49pm Jan 21, 2014 11:49pm
Logic question: I have 2 trades open. One 85 pips in profit. The other 15 pips in loss

I have one beer left and there is upcoming data which I may soon become disinterested in.
What should I do.
Take profit now or the "chance" later ??
When the Joker is in the deck.. fear not and play it well
  • #78
  • Jan 22, 2014 12:05am Jan 22, 2014 12:05am
SO... I'm about 90 pips in profit on one and 25 pips loss on the other.
I still have one beer left so that's no longer a factor.

What would the "prudent" thing to do be.
When the Joker is in the deck.. fear not and play it well
  • #79
  • Jan 22, 2014 12:24am Jan 22, 2014 12:24am
Quoting Slim Buffett
What would the "prudent" thing to do be.
If it's a question not just thinking out loud, 'prudent' would be to do what your plan suggests to...
The single most important factor is having control of your own life.
  • #80
  • Jan 22, 2014 12:46am Jan 22, 2014 12:46am
Quoting Mikkk01
{quote} If it's a question not just thinking out loud, 'prudent' would be to do what your plan suggests to...
Very true....
So now I'm nearly 100 pips + in one and about - 20 in the other
As Slim is getting tired and upcoming data could effect the outcome
I could just close both trades........ but wait !!

It's still going in my favor so I'll have to wait a minute.
When the Joker is in the deck.. fear not and play it well
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