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The Big secret to trading success

  • #781
  • Mar 6, 2017 8:21am Mar 6, 2017 8:21am
Quoting TradeGenuis
Your brain is already a super computer, I don't even get why you will trust something less powerful than yourself. e.g will you send your 4year old kid instead of your 19yrs old child for something that really matters to you? You will never make a dime in this arena until you understand rule 1. Don't lose Money. My trading took a turn when i focused on not losing money rather than making. It won't turn you profitable at first but atleast by not losing you are half way there.
Trade Genius,

Could you kindly give us the actual events that preceded/thought process that was responsible in the shift. And importantly, please do tell us how you have practically applied this principle in your trading...

Thanks for the nugget of gold...
  • #782
  • Mar 6, 2017 8:22am Mar 6, 2017 8:22am
Quoting XxixixX
COT data is meant to give a larger picture of things and it lags (week). It sorta like when as a kid your parents planned a long car trip. You have an idea of where you are going however you make many stops along the way. The COT and indexes are 2 different animals. COT is looking at things from a 50,000 foot view and indexes are done on a intra-day basis. News means nothing unless you have market participants active. How many times has news been hawkish or dovish only to have the market react in the opposite direction? News can be the catalyst...
Great Insights XxixixX...
  • #783
  • Edited 12:05pm Mar 6, 2017 11:49am | Edited 12:05pm
Quoting aaven
{quote} Trade Genius, Could you kindly give us the actual events that preceded/thought process that was responsible in the shift. And importantly, please do tell us how you have practically applied this principle in your trading... Thanks for the nugget of gold...
aaven to be frank with you I can't reveal to you my way of trading. It took me 5 years of extreme hard work to develop a methodology. I blew up 7 accounts in the same period. But I feel sympathy for amateur traders which i once was. The search for the holy grail is futile. Charts are mumbo jumbo, everyone sees on them what they want to see. But in reality charts are random, Trends are predictable with about 50-70% probability depending on the quality of the trader. The only thing that matters is the trend. Where do you think prices are going full stop.
Special one
  • #784
  • Mar 6, 2017 12:15pm Mar 6, 2017 12:15pm
Quoting TradeGenuis
{quote} aaven to be frank with you I can't reveal to you my way of trading. It took me 5 years of extreme hard work to develop a methodology. I blew up 7 accounts in the same period. But I feel sympathy for amateur traders which i once was. The search for the holy grail is futile. Charts are mumbo jumbo, everyone sees on them what they want to see. But in reality charts are random, Trends are predictable with about 50-70% probability depending on the quality of the trader. The only thing that matters is the trend. Where do you think prices are going...
Thanks Trade Genius...
  • #785
  • Mar 6, 2017 12:26pm Mar 6, 2017 12:26pm
And if I may add there is no scientific or empirical way to predict where prices are going. You have to use judgment. This is where the three dimensional chess goes up, this is where you have to use your brain to outsmart other traders. So there are no rules, I know y all are looking for it. Its a game, its like chess in comparison.Everyday is a new day, learn the game.
Special one
  • #786
  • Mar 6, 2017 5:33pm Mar 6, 2017 5:33pm
Quoting TradeGenuis
And if I may add there is no scientific or empirical way to predict where prices are going. You have to use judgment. This is where the three dimensional chess goes up, this is where you have to use your brain to outsmart other traders. So there are no rules, I know y all are looking for it. Its a game, its like chess in comparison.Everyday is a new day, learn the game.
I think it is more like baccarat. Up, down, or tie. Most of the time it is really not difficult to know. In fact, it is boring, but it is the best way I know to make money
You cannot be extraordinary by being normal
  • #787
  • Mar 6, 2017 6:52pm Mar 6, 2017 6:52pm
Quoting TradeGenuis
{quote} aaven to be frank with you I can't reveal to you my way of trading. It took me 5 years of extreme hard work to develop a methodology. I blew up 7 accounts in the same period. But I feel sympathy for amateur traders which i once was. The search for the holy grail is futile. Charts are mumbo jumbo, everyone sees on them what they want to see. But in reality charts are random, Trends are predictable with about 50-70% probability depending on the quality of the trader. The only thing that matters is the trend. Where do you think prices are going...
I think you can. ; aaven I recommend studying volume. I guess "Trade-Genius" knows about volume and time.
  • #788
  • Mar 6, 2017 7:52pm Mar 6, 2017 7:52pm
[quote=whateveridon;9633391]{quote} I think you can. ; aaven I recommend studying volume. I guess "Trade-Genius" knows about volume and time.[/quot

I know of that but the breakthrough for me is when i realized that I was behind time. The information age has destroyed technical analysis.By technical analysis I am referring to market timing. The only left use of TA is to attempt to predict trends . You could time the markets 30years ago because information used to lag to reflect in prices. Today it reflects almost in matter of minutes. Adding to that the proliferation of TA is a self-fulfilling prophecy. It's vulgar everybody knows about support and resistance and all the mumbo jumbo. You need to be different to make it, find your flow. If you can make money using it good for you, but as far as i am concerned its nonsense.
Special one
  • #789
  • Mar 6, 2017 7:59pm Mar 6, 2017 7:59pm
Quoting TradeGenuis
Quoting whateveridon
{quote} I think you can. ; aaven I recommend studying volume. I guess "Trade-Genius" knows about volume and time.[/quot I know of that but the breakthrough for me is when i realized that I was behind time. The information age has destroyed technical analysis.By technical analysis I am referring to market timing. The only left use of TA is to attempt to predict trends . You could time the markets 30years ago because information used to lag to reflect in prices. Today it reflects almost in matter of minutes. Adding to that
...
Trade Genius,

Taking a guess. Order Flow Trading is your core concept?

Thanks
  • #790
  • Mar 6, 2017 8:02pm Mar 6, 2017 8:02pm
Quoting TradeGenuis
{quote} aaven to be frank with you I can't reveal to you my way of trading. It took me 5 years of extreme hard work to develop a methodology. I blew up 7 accounts in the same period. But I feel sympathy for amateur traders which i once was. The search for the holy grail is futile. Charts are mumbo jumbo, everyone sees on them what they want to see. But in reality charts are random, Trends are predictable with about 50-70% probability depending on the quality of the trader. The only thing that matters is the trend. Where do you think prices are going...
Trade Genius,

Want to clarify I wasn't trying to elicit your trading edge. Was curious of your "aha moment", more along the lines of general advice...

Thanks
  • #791
  • Mar 6, 2017 10:33pm Mar 6, 2017 10:33pm
To sum my edge without really revealing it.
I am a very defensive trader, I am scared of losing money so my main focus is protecting my capital. I always say if you don't know how to make money don't lose it. I can give you an advice and I will be glad if it helps you. Profits take care of themselves, losses don't. Making money doesn't depend on you, losing does. Making money is simply a matter of luck if i can say, the real skill is not to lose money. The problem with you guys is that you focus on what is not on your control, and ignore what you can control.e.g look at your statement of account, look at your gross profit and gross loss. You will realize that even with your ignorance you still make some money, the trouble is you can't keep it.

A classic example of a professional trader is this, Yesterday was bearish on the EURUSD, fell asleep in the early European session. Woke up, missed the trade, would have made 5% on the trade. Didn't feel anything, today i am long, lets see what happens. I never feel in charge of my profits, I feel in charge of my losses.
Special one
  • #792
  • Mar 7, 2017 12:33am Mar 7, 2017 12:33am
Quoting TradeGenuis
To sum my edge without really revealing it. I am a very defensive trader, I am scared of losing money so my main focus is protecting my capital. I always say if you don't know how to make money don't lose it. I can give you an advice and I will be glad if it helps you. Profits take care of themselves, losses don't. Making money doesn't depend on you, losing does. Making money is simply a matter of luck if i can say, the real skill is not to lose money. The problem with you guys is that you focus on what is not on your control, and ignore what you...
Give to me an advice.
  • #793
  • Mar 7, 2017 8:07am Mar 7, 2017 8:07am
Cut your losses and let your profit ride.Be conservative when you are losing money and be aggressive when you are making some.
Special one
  • #794
  • Mar 7, 2017 8:46am Mar 7, 2017 8:46am
Quoting TradeGenuis
To sum my edge without really revealing it. I am a very defensive trader, I am scared of losing money so my main focus is protecting my capital. I always say if you don't know how to make money don't lose it. I can give you an advice and I will be glad if it helps you. Profits take care of themselves, losses don't. Making money doesn't depend on you, losing does. Making money is simply a matter of luck if i can say, the real skill is not to lose money. The problem with you guys is that you focus on what is not on your control, and ignore what you...
Thanks Trade Genius...
  • #795
  • Mar 7, 2017 2:17pm Mar 7, 2017 2:17pm
Quoting whateveridon
{quote} I will explain it.
Well - go on then -explain "it."
every Saint has a past. Every Sinner has a Future
  • #796
  • Mar 7, 2017 6:04pm Mar 7, 2017 6:04pm
Quoting TradeGenuis
Cut your losses and let your profit ride.Be conservative when you are losing money and be aggressive when you are making some.
Is it the advice for me?
  • #797
  • Mar 7, 2017 6:10pm Mar 7, 2017 6:10pm
Quoting whateveridon
{quote} Is it the advice for me?
for aaven
Special one
  • #798
  • Mar 7, 2017 6:36pm Mar 7, 2017 6:36pm
Quoting TradeGenuis
{quote} for aaven
I prefer be pacifist and teach people.
  • #799
  • Mar 7, 2017 11:55pm Mar 7, 2017 11:55pm
Quoting mishacao19
The Big secret to trading success patience, passion, focus and concentration. And some $$$ to lose and learn

and experience for some years with all the above qualities without experience u won't understand the forex market ...........
  • #800
  • Mar 8, 2017 1:33am Mar 8, 2017 1:33am
Quoting TradeGenuis
Cut your losses and let your profit ride.Be conservative when you are losing money and be aggressive when you are making some.
Thanks Trade Genius. Your insight has struck a chord with me:

"Profits take care of themselves, losses don't. Making money doesn't depend on you, losing does. Making money is simply a matter of luck if i can say, the real skill is not to lose money."

I will change my way of thinking. My focus has been looking at how much one can win and while somehow not accepting that losses are a part of the game. I realize now the focus should be on losses, accepting them and trying to as best as possible to minimize them and if not, adjust the position size accordingly... It truly is a profound insight you have given me...

I am much obliged...

PS: "Cut your losses and let your profit ride.Be conservative when you are losing money and be aggressive when you are making some."

Thanks for giving me the further extension of good advice...
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