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And now for something completely different

  • #101
  • Feb 15, 2015 9:54am Feb 15, 2015 9:54am
60 is that your primary way of trading?
  • #102
  • Feb 15, 2015 10:00am Feb 15, 2015 10:00am
Quoting EternalNewB
60 is that your primary way of trading?
yes. I move up and down the timeframes depending on where I am and what I am doing but I always trade breakouts, sometimes I will use a high RR set up, sometimes a wide stop like now, sometimes I hedge my losers and sometimes I use a traditional SL... but the logic always remains the same... I never rely on predictive technical analysis, that is for fun only and I would never risk my money on it again, that's irrational and naive.

in my opinion If you truly understand the markets then you should be able to pick and model the system exactly how you want it, want to trade short timeframes with small stops? you should be able, want to take 1 trade a day? same..... It is always a case of playing with the stop and exit ratio to make it work profitably and fit into your schedule. That is my belief and I appreciate that not everyone thinks that way, which is fine.
tradewith60
  • #103
  • Feb 15, 2015 10:13am Feb 15, 2015 10:13am
Here's an H1 chart of the SP500 with price, a moving average of price and the ATR of price, all 3 indicate that price compresses and then expands over and over and over. We can also see that price just moves up and down.

Traditionally we're told that to make profit we need to be able to find the precise moment price starts to go up and then the precise moment to exit before it goes back down - using what price did before as our guide

Alternatively we can just buy every time it starts going up and sell every time it starts going down...

Which one do you feel more confident about and why?

If you were asked the question when you were a 10 year old kid, which one would you of picked?

Just look at the chart, can you see it? it's actually fairly obvious isn't it?

Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2015-02-15 at 15.21.34.png Size: 53 KB
tradewith60
  • #104
  • Feb 15, 2015 10:20am Feb 15, 2015 10:20am
///// look, now Twee has banished me to Narnia i'm starting to sound like a salesman!!!.... by the way if anyone wants to pay me then by all means you can .....
tradewith60
  • #105
  • Feb 15, 2015 2:14pm Feb 15, 2015 2:14pm
wow just wow i was thinking and using something similar because i came to conclusion that every technical or mombo jombo analysys is just pure guessing
  • #106
  • Feb 15, 2015 2:31pm Feb 15, 2015 2:31pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2015-02-16 09.26.31.png Size: 227 KB
  • #107
  • Feb 15, 2015 2:32pm Feb 15, 2015 2:32pm
Quoting vladutz112
wow just wow i was thinking and using something similar because i came to conclusion that every technical or mombo jombo analysys is just pure guessing
Attached Image
tradewith60
  • #108
  • Feb 15, 2015 2:46pm Feb 15, 2015 2:46pm
I guess it is my mind refusing to accept it could be that simple & that I've spent all this time trying to learn the wrong things ....

so far my EA is giving positive results on all the pairs I have tried. I guess I will be fixed in a few weeks

thanks 60
  • #109
  • Feb 15, 2015 2:54pm Feb 15, 2015 2:54pm
Quoting EternalNewB
I guess it is my mind refusing to accept it could be that simple & that I've spent all this time trying to learn the wrong things .... so far my EA is giving positive results on all the pairs I have tried. I guess I will be fixed in a few weeks thanks 60
actually you are 100% correct, it is your mind - and we know all those technical analysis traders never stop to consider THEIR MIND, it's all about the high probability SR level....

Inserted Video




So now, test your thoughts, vocalize your thoughts... it will change many aspects of your life, not just trading
tradewith60
  • #110
  • Feb 15, 2015 3:04pm Feb 15, 2015 3:04pm
Hindsight bias leads humans to believe they know what will happen next -

The easiest way to avoid it is to not reference the past - but that is going against human nature.

"I know what is happening here" is what's going on in your head all the time.

This is proven biology, is it any wonder people will fight so strongly to defend their ability to predict the future from past price action ????


Stop trading the past, trade the NOW.... is price going up??? are you going to buy or are you going to sell???
tradewith60
  • #111
  • Feb 15, 2015 3:10pm Feb 15, 2015 3:10pm
more mind stuff...

do we know how the human brain deals with 'risk'

We think we're being all sientific measuring "risk" when we're trading, but it all comes down to a feeling.

If something feels good to you (maybe a small stop loss) you will automatically see it as less risky because it is something you like to do, ask a base jumper if his sport is risky!.....

Whereas someone who doesn't like flying will consider air travel super risky, even though cars are statistically much more dangerous...
tradewith60
  • #112
  • Feb 15, 2015 8:42pm Feb 15, 2015 8:42pm
somewhere in this video the guy says that price it will either go up 150 pips or go down 150 he doesn't know when but he knows at some point he will and this is what made me think outside the technical textbook crap
Inserted Video
  • #113
  • Feb 16, 2015 12:29am Feb 16, 2015 12:29am
60MM,

I'm demo trading your line in the sand method using the NY close as the price to put the line. Is that the correct or should I use a different spot?
  • #114
  • Feb 16, 2015 3:16am Feb 16, 2015 3:16am
Quoting gravitist
60MM, I'm demo trading your line in the sand method using the NY close as the price to put the line. Is that the correct or should I use a different spot?
its very big video you have shared but i seen and its not so bad there has important things for learning ...


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  • #115
  • Feb 16, 2015 4:06am Feb 16, 2015 4:06am
Quoting gravitist
60MM, I'm demo trading your line in the sand method using the NY close as the price to put the line. Is that the correct or should I use a different spot?
\it does not matter when and where you put the line, it is just a point where we wait for price to move away.... We are not looking for a predictive quality
tradewith60
  • #116
  • Feb 16, 2015 6:44am Feb 16, 2015 6:44am
Inserted Video
tradewith60
  • #117
  • Feb 16, 2015 8:59am Feb 16, 2015 8:59am
2 trades 2 wins so far but poorly executed - need to get focussed, letting outside influences influence my actions....
tradewith60
  • #118
  • Feb 16, 2015 9:20am Feb 16, 2015 9:20am
I took 2 longs this morning (EurUSD and Gold) both in red for now
  • #119
  • Feb 16, 2015 9:44am Feb 16, 2015 9:44am
Quoting EternalNewB
I took 2 longs this morning (EurUSD and Gold) both in red for now
yeah, you soon get good and enduring some DD with wider stops, after a while you come to enjoy it, strangely
tradewith60
  • #120
  • Feb 16, 2015 11:55am Feb 16, 2015 11:55am
Results for Day 1 (60 I hope you don't mind me sharing them, if you do please let me know and I will stop)

2 long EURUSD both hit SL -77 pips total
1 long GOLD still in it till now

I could have easily gone short on EURUSD and made back some pips (+25 till now) but it was past my trading time as per my "rules" and I didn't want to break my rules on day one. so let's see what tomorrow brings


to put myself in the correct mindset I have opened a small account ($100) and will trade this method until I double the $100 or lose them.

Cheers
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