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Looking for Real Trading Method

  • #301
  • Jun 22, 2014 5:20pm Jun 22, 2014 5:20pm
Quoting simonb
{quote} Talking to you at this point would seem like the equivilant of hitting a little girl, so let's just leave it at that shall we.
Quoting 60minuteman
{quote} you're so retail
Seriously guys...

Let's have a look at the situation...

If wasn't for me calling the pair of you worthless and market retarded...nobody would even bother replying to you...

Even the Rank "Fucking NEWBIES", recognize that you haven't actually said anything...

At least with me calling you stupid, you get to be famous for a moment...

And really...isn't this better than having to create another FF identity, to reply to your posts...SIMON?

Go pout...and if you find yourself with nothing better to do...don't do it here.

Create your own world of fantasy and talk fart jokes to each other. Some of us, generally are willing to work with others in need.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #302
  • Jun 22, 2014 5:32pm Jun 22, 2014 5:32pm
Quoting Magix
{quote} {quote} Seriously guys... Let's have a look at the situation... If wasn't for me calling the pair of you worthless and market retarded...nobody would even bother replying to you... Even the Rank "Fucking NEWBIES", recognize that you haven't actually said anything... At least with me calling you stupid, you get to be famous for a moment... And really...isn't this better than having to create another FF identity, to reply to your posts...SIMON? Go pout...and if you find yourself with nothing better to do...don't do it here. Create your own...
Character revealed.
  • #303
  • Jun 22, 2014 5:37pm Jun 22, 2014 5:37pm
Quoting 60minuteman
{quote} so true, people think if they add layers of technical tools together it some how means you can add all the low expectancy together and make it high expectancy. The idea of confluence with TA is just an illusions again and a result of humans desire to see patterns and give them meaning. Also, confirmation... another piece of TA rubbish, all it means is 'late' - If you don't know or believe in the limitations of purely technical approaches then you're at a serious disadvantage. But even suggesting it sends people into a rage of name calling...
Hey 60. While I disagree with you on some points I am not so closed-minded as to not consider your opinions. I for one value your posts and encourage you to continue.
  • #304
  • Jun 22, 2014 5:42pm Jun 22, 2014 5:42pm
Quoting simonb
{quote} Talking to you at this point would seem like the equivilant of hitting a little girl, so let's just leave it at that shall we.
The ignore function works very well. You never have to read posts from individuals spewing bile anymore unless you really want to. Simonb and Chicky I suggest you employ this wonderful function so this thread can move forward for its intended purpose.
  • #305
  • Jun 22, 2014 6:58pm Jun 22, 2014 6:58pm
Quoting Winston Reed
{quote} The ignore function works very well. You never have to read posts from individuals spewing bile anymore unless you really want to. Simonb and Chicky I suggest you employ this wonderful function so this thread can move forward for its intended purpose.

I suggest you simply get your head out of your ass...and read.

Character revealed...

Read a post ace...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #306
  • Jun 22, 2014 7:30pm Jun 22, 2014 7:30pm
Quoting Winston Reed
{quote} Hey 60. While I disagree with you on some points I am not so closed-minded as to not consider your opinions. I for one value your posts and encourage you to continue.
thanks Winston....

on that subject, I found this webinar interesting, and like you I wasn't 100% sold on everything he said, but he makes some very interesting points.

http://www.fxstreet.com/webinars/ses...lgos-20140619/
tradewith60
  • #307
  • Jun 22, 2014 7:53pm Jun 22, 2014 7:53pm
Quoting 60minuteman
{quote} thanks Winston.... on that subject, I found this webinar interesting, and like you I wasn't 100% sold on everything he said, but he makes some very interesting points. http://www.fxstreet.com/webinars/ses...lgos-20140619/

FANTASTIC!!

Why Bother with Charts, If there are Webinars??


Hey 60S...Can I see the stats on the difference from Adding fundamentals to Techinals again...

I must have missed your previous links.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #308
  • Jun 22, 2014 8:41pm Jun 22, 2014 8:41pm
Quoting 60minuteman
{quote} thanks Winston.... on that subject, I found this webinar interesting, and like you I wasn't 100% sold on everything he said, but he makes some very interesting points. http://www.fxstreet.com/webinars/ses...lgos-20140619/
Thanks 60. I'll check it out!
  • #309
  • Edited 1:43am Jun 23, 2014 1:31am | Edited 1:43am
I see some very "intellectual" talk in few of the posts above done while I was away. Thanks for everybody's contribution. Difference of opinions and personality clashes are unavoidable if one wants to debate on a complex topic like this.

Without going any deep into the differences that lately erupted among few members (or the shit), let me summarize that so far posters here suggested that a trader's mindset plays a very important role in developing a system. Based on my limited experience, I would like to add that a trader can form right mindset only with some trading experience. For example, it is very difficult for a new trader not to get tempted in using very high leverage, risking too much on a promising setup, refrain from trading during odd/low liquidity times, accepting a loss, days' waiting for next good setup (especially immeiately after suffering a moderate loss), etc. Taking care of all these things can be regarded as sign of a mature trader's mindset.

There is difference of opinion among members regarding use of technicals and generally circulating trading myths. Few think that technical provide solid edge and few see some truth in trading myths. However, as far as I am concerned, I do use technicals for entries but only to the extent like a pedestrian uses traffic light to cross a road. Traffic light has nothing to do with decision of the pedestrian to cross or not to cross the road, where to go, etc. People who solely trade based on technicals are like the one who follows only green signals no matter where these flashing green and red lights take him. To me, same is true for trading myths.

We also learned that following a trade is important. By following a trade, I understand, one should expect temporary ups and downs in pa when it is following its path. This may need little bit of longer-term view of the market. When I say Longer Term, it refers to both time and number of pips.

Another thing that I find should be part of a real system is building and managing porfolio of trades. When I say a real system or real method it means a method that does not blindly accept anything only because many people have repeated it millions of times in the past or many traders say so or some billionaire has quoted this. A real system is the one that is based on objective analysis of a trader, based on something that he/she believes to be true and has valid reasons to believe so.

One debate that is going on for decades is whether forex trading is gambling or not. I don't care if it is not gambling, for me it is a gamble. If one does not consider gambling element of forex trading is likely to miss something on risk management. Proper risk management is one basic requirement of a real system.

Understanding different segments of world markets, how markets are connected, what is going on in global economic setup, etc. help a real trader in his/her decision making process.

A real trader should understand how forex market moves.
The Thief of Wall Street
  • #310
  • Jun 23, 2014 5:16am Jun 23, 2014 5:16am
Didn't someone want a real trading method?
A diamond in a pigsty.
You cant say I tried.
rgds
  • #311
  • Jun 23, 2014 5:25am Jun 23, 2014 5:25am
Quoting Chicky
I see some very "intellectual" talk in few of the posts above done while I was away. Thanks for everybody's contribution. Difference of opinions and personality clashes are unavoidable if one wants to debate on a complex topic like this. Without going any deep into the differences that lately erupted among few members (or the shit), let me summarize that so far posters here suggested that a trader's mindset plays a very important role in developing a system. Based on my limited experience, I would like to add that a trader can form right mindset...
Nothing to add but ....
Ghost Rider - WWTBMD?
  • #312
  • Jun 23, 2014 5:51am Jun 23, 2014 5:51am
2nd attempt.
Quoting skfx
If I'm big enough to micro shift the market(CB's manage the handles), could someone please tell me how on earth you would know from a price chart where I'm working from?
rgds
  • #313
  • Jun 23, 2014 7:31am Jun 23, 2014 7:31am
Quoting skfx
Why do so many here put themselves at a disadvantage? If I'm big enough to micro shift the market(CB's manage the handles), could someone please tell me how on earth you would know from a price chart where I'm working from? Just as a side point, answering the question above correctly will send you on your way to also solve these thread dilemmas... Stops Gambling/not gambling Risk Emotions/psych issues rgds
What on Moon is your question?
The Thief of Wall Street
  • #314
  • Jun 23, 2014 7:33am Jun 23, 2014 7:33am
Quote
There is difference of opinion among members regarding use of technicals and generally circulating trading myths. Few think that technical provide solid edge and few see some truth in trading myths. However, as far as I am concerned, I do use technicals for entries but only to the extent like a pedestrian uses traffic light to cross a road. Traffic light has nothing to do with decision of the pedestrian to cross or not to cross the road, where to go, etc. People who solely trade based on technicals are like the one who follows only green signals...

That is a great analogy. When a fund manager is building a client portfolio - It doesn't start with the charts. It starts with building ideas that indicate an inefficiency in a market. You have an idea based on something you know - ie. a change in fundamental.

An example of that is the PMI reports. So last night China had it's PMI reports print above 50 for the first time in ages - this is seen as bullish because PMI reports have a very high correlation with GDP, which in turn has a high correlation with the equity markets. So if I were a China equity fund manager, I might want to look for stocks to get long in China. Once I've found stocks that fit my criteria (eg. I can trade with good liquidity ect) I will then pull up the chart and look for a technical pattern to tell me when I've got a good risk/reward opportunity to get in.

That is the basis of building a quantifiable method. Your idea generation is built around provable correlations of data. This is a real trading method that many in the industry use. This is obviously a longer term method but then let's look at what market makers do -

As an equity market maker - because retail demand is so heavily biased to the long side, you are pretty much looking to short stocks whenever you can. Your decisions are based on where you know orders are waiting - and having a feel for the market demand on the day.

This doesn't have anything to do with technical or fundamental analysis - but I bet when the market makes pull up a chart and see three tests of a support or resistance, they'll push price around that area to sweep stops and improve liquidity.

The reason why technical analysis is so popular with the retail trader is because it's all over the internet and pushed by the brokers. Human nature is to try and be sure of things - when you see a trend line ect, that gives you a degree of certainty. What the brokers know is that if they teach all the clients these technical patterns, they know where they can run stops and make a rip.
  • #315
  • Jun 23, 2014 8:11am Jun 23, 2014 8:11am
Quoting Chicky
{quote} What on Moon is your question?
LOL
Your easily confused.
Q:If I'm big enough to micro shift the market(CB's manage the handles), could someone please tell me how you would know from a price chart where I'm working from?
  • #316
  • Jun 23, 2014 8:23am Jun 23, 2014 8:23am
No body will know , unless you say it loud .... or LP can see it but still anon till they open the book and see whos that order
  • #317
  • Jun 23, 2014 8:29am Jun 23, 2014 8:29am
Why do you guys keep using charts then if you cannot locate larger players with them?
rgds
  • #318
  • Jun 23, 2014 8:32am Jun 23, 2014 8:32am
Quoting skfx
{quote} LOL Your easily confused. Q:If I'm big enough to micro shift the market(CB's manage the handles), could someone please tell me how you would know from a price chart where I'm working from?

If you are a market maker - it's not just the price chart. Level 2 quotes will tell you where the orders are positioned. So you can see the price where people have stops in the market.

If someone wants to sell 50 million euros and a ton of buy stops are 10 pips below the market, then you just quote the price down to that level - clear out the stops - and you have got buyers for the 50 mil. You make the money on the spread and if you are good - you've anticipated the demand and you've made profit on the firm's money as well.

Level 2 quotes aren't inside information - they are easily available from data providers.

So that is a REAL trading method right there.
  • #319
  • Jun 23, 2014 8:36am Jun 23, 2014 8:36am
Try again! You haven't answered my question.
rgds
  • #320
  • Jun 23, 2014 8:41am Jun 23, 2014 8:41am
Quoting skfx
Why do you guys keep using charts then if you cannot locate larger players with them? rgds
Because it's a visual representation of what price has done. Which tells you if the market is being bought or sold more in certain timeframes. This is important information.

You could work out everything you need to know without a chart - but it takes a long time and can be confusing. I'd use a chart over downloading spread sheets on Yahoo Finance any day.
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