Attachments: The Trader's Academy - by Traders for Traders

The Trader's Academy - by Traders for Traders

#761
Feb 16, 2016 9:19am Feb 16, 2016 9:19am

medici
Joined Nov 2008 | Status: Trader | 3,270 Posts

Quoting cat

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{quote} What is the point I am not getting?

Ignored

I'm wondering too...

#762
Feb 16, 2016 9:20am Feb 16, 2016 9:20am

strongtrader
Joined Sep 2011 | Status: Trader | 488 Posts

Quoting medici

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{quote} I get what Cat is saying, and I agree, but I don't understand your point to the extent that it differs.

Ignored

Well, I cannot go further in details, there is something between the lines.......

#763
Feb 16, 2016 9:23am Feb 16, 2016 9:23am

skyway
Joined Sep 2013 | Status: Trader | 1,209 Posts

Quoting strongtrader

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{quote} LOL!! you want to conclude right at the moment is becoming interesting......let me tease you one more time: you agreed that market is not random....this is a great point.....now I tell you this: if market is not random, there must be a scheme; for how complex it could be it is a scheme. Now, once you know the scheme you do not predict anymore, you know; the only reson you cannot know with absolute certainty is that market is alive, so that is the scheme. What can happen is that the scheme changes just after your entry, but if your entry...

Ignored

If you meant having a bias outside of the 'scheme', thereby making us unable to see the 'scheme', you have a point there.This will apply to those who have not developed their method to look at the market through the scheme, then they are prone to develop a personal market bias.

#764
Feb 16, 2016 9:23am Feb 16, 2016 9:23am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting medici

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{quote} I'm wondering too...

Ignored

#765
Feb 16, 2016 9:35am Feb 16, 2016 9:35am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting skyway

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{quote}{quote} Awesome description ! That's trading right at the eye of the storm that I refer to earlier. Unfortunately, many traders are full of fear right at this juncture which causes them to freeze up and makes them miss good trading opportunities when this window is open for brief moments.

Ignored

Very important point! If opportunities come and go, and they are recognized as opportunities, then they are not taken either through fear, or because it is actually easier to do nothing and wait to see what would have happened had you taken the trade, which amounts to the same thing.

This procrastination during that brief window of opportunity is normal human behavior, because by nature we tend to do all that we can to avoid danger and uncertainty. As traders, we have to override this fear of leaping into the dark, into the total and complete uncertainty of what will happen next, and we have to learn to keep doing it day in day out until it becomes second nature.

#766
Feb 16, 2016 9:41am Feb 16, 2016 9:41am

medici
Joined Nov 2008 | Status: Trader | 3,270 Posts

Quoting skyway

Disliked

{quote} If you meant having a bias outside of the 'scheme', thereby making us unable to see the 'scheme', you have a point there.This will apply to those who have not developed their method to look at the market through the scheme, then they are prone to develop a personal market bias.

Ignored

That's as far as I understood things too, before it got hazy.

#767
Feb 16, 2016 9:56am Feb 16, 2016 9:56am

strongtrader
Joined Sep 2011 | Status: Trader | 488 Posts

Quoting skyway

Disliked

{quote} If you meant having a bias outside of the 'scheme', thereby making us unable to see the 'scheme', you have a point there.This will apply to those who have not developed their method to look at the market through the scheme, then they are prone to develop a personal market bias.

Ignored

ok, you are on the point. Now the matter is what does mean fro you to see the scheme? because if you really see it, there is no more point to simply speak of bias. I mean, bias is something that is always out of the scheme; when you see the scheme you are far beyond from just a bias.

#768
Feb 16, 2016 10:02am Feb 16, 2016 10:02am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting strongtrader

Disliked

{quote} ok, you are on the point. Now the matter is what does mean fro you to see the scheme? because if you really see it, there is no more point to simply speak of bias. I mean, bias is something that is always out of the scheme; when you see the scheme you are far beyond from just a bias.

Ignored

Excuse me, but what exactly do you mean by ' the scheme '?

#769
Feb 16, 2016 10:15am Feb 16, 2016 10:15am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

For me the 200ema is always an important level, on any time frame, as it can guide, and keep you on the right side of the market. Take the 1m 200ema on today's Dax for example. The price has been below it most of the time, breaking above it with that horrible spike at 9am GMT, then again at 12.05 - 12.40, again between 14.14 -14.42, and is currently below. Despite the fact that it did break above, I would not have contemplated going long all day. Why? Just look at the positioning of the 10 minute 200ema! With momentum down, why would anyone trade into a ceiling like that? Any why would I trade into the 10m 200ema when the price was still above it earlier? Because by doinf so I am trading away from my 1m 200ema. Therefore my bias was short, and this did not adversely affect my trading decisions, it facilitated them.

#770
Feb 16, 2016 10:45am Feb 16, 2016 10:45am

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Attached Image

#771
Feb 16, 2016 11:45am Feb 16, 2016 11:45am

strongtrader
Joined Sep 2011 | Status: Trader | 488 Posts

Quoting cat

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{quote} Excuse me, but what exactly do you mean by ' the scheme '?

Ignored

This is the right question, Cat....unfortunately is very private so I won't answer on it.

However, if you came up to this question, you might have the insight to find the answer....
BTW.. a great book by Napoleon Hill

Attached File(s)

ThinkandGrowRich.pdf 1.2 MB | 454 downloads

#772
Feb 16, 2016 12:53pm Feb 16, 2016 12:53pm

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting strongtrader

Disliked

{quote} This is the right question, Cat....unfortunately is very private so I won't answer on it. However, if you came up to this question, you might have the insight to find the answer.... BTW.. a great book by Napoleon Hill {image}

Ignored

I'll leave it with you then. Yes, it is a great book with just one key message contained within - make your goals in life all consuming, set your sights, and stop at nothing until you have achieved them.

#773
Feb 16, 2016 12:57pm Feb 16, 2016 12:57pm

turnip15
Joined Sep 2006 | Status: Trader | 10,704 Posts

Quoting cat

Disliked

{quote} I'll leave it with you then. Yes, it is a great book with just one key message contained within - make your goals in life all consuming, set your sights, and stop at nothing until you have achieved them.

Ignored

yes -leave it with him.

Cat -do you use standard TA, such as Pins and outside Bars etc, when trading the Dax (I am referring to one minute charts)?

every Saint has a past. Every Sinner has a Future

#774
Feb 16, 2016 1:01pm Feb 16, 2016 1:01pm

cat
Joined Oct 2010 | Status: Trader | 5,442 Posts

Quoting turnip15

Disliked

{quote} yes -leave it with him. Cat -do you use standard TA, such as Pins and outside Bars etc, when trading the Dax (I am referring to one minute charts)?

Ignored

just standard yup. The charts I post here are missing a couple of moving averages, but that is how they are - candles, MAs, trendlines, fibs, pivots, MACD, Bollinger bands...and that's it.

#775
Feb 16, 2016 1:37pm Feb 16, 2016 1:37pm

ebitalebi
Joined Feb 2009 | Status: Trader | 168 Posts

Quoting cat

Disliked

{quote} No, the market is far from random as you say. The 50% rule applies only to gambling. As a trader, it depends. If you are a trader with a 50% win/loss ration then the net % in your favour is zero, from which you can still make excellent money provided your wins are bigger than your losses. But if your wins to losses over a given period stands at say 68%, then that is the game you are playing, with 18% in your favour. We can never know whether a trade is going to work out, but we can be 100% sure in ourselves that we are going to take the...

Ignored

I am a teacher. For me a great student is not someone who is intelligent or hardworking. I believe in one characteristic and that is ambiguity tolerance. I think if someone has enough ambiguity tolerance he will find the answer sooner or later but those that lack this characteristic will give up because they want answers which are crystal clear. In trading you should get used to living in a world of uncertainty but at the same time understand that you can survive if you do the actions that have high probability rate of success. As long as this probability remains untouched you have no other options but to follow it. But if something that worked before starts not to work anymore with statistical support you should be flexible and respond accordingly to new rules. This amount of uncertainty psychologicaly destroy persons with low ambiguity tolerance.

#776
Feb 16, 2016 2:12pm Feb 16, 2016 2:12pm