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Old 11-02-2011, 01:56 PM   #17

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Re: Skype Room for Full Time Traders

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Originally Posted by TRADEZILLA »
WRB,
I hear you, but this is not meant to be a major production.. I think my method is simple, but others may disagree.. It doesn't come from a chart alone, it comes from the relationship of the data and price action, and then there is also a time element and this can come in many dif combinations.. There is no exact formula.. Its a "weighing" of the "micro" set up in combination with the macro theme.. I form my own R/R probability by looking at a combination of data,.. Its not going to be perfect though.. For example: today, I got mixed data so I couldn't hold my trades.. believe it or not, I shorted the opening, bot near the bottom at 28, and shorted 38 from the same data and yet couldn't hold from the same data.. All I look to do is to do is put myself in a position to get lucky...
Lets put it this way, if you can't post images of exactly what you're looking at on your computer monitors regardless if its data/price screen, chart screen or any thing else you're using to make trade decisions...

You will have a tough time explaining to someone or getting someone to understand your simple method. Thus, simplicity is a matter of perspective. What's simple to you may be complicated to someone else without visual references. Kind'uv like a college professor saying "its easy" while most in the class room are looking around at each other and saying "whatever".

Other than that, chat rooms requires multi-tasking (trading and chatting)...it is a major issue for those involved. Thus, if its not meant to be a major production for you, I highly recommend you don't get involved with it as it seems to be what you're now realizing.
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Old 11-02-2011, 06:26 PM   #18

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Re: Skype Room for Full Time Traders

WRB,
Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade.. The value is not in the opinion of other traders though I do believe trading with other good traders will sharpen your own skills by default... I believe good traders will not let others sway them from what they see... I trade with another trader that is very good.. we always trade what we see, not what the other person see unless we see what the other sees and agree..
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Old 11-03-2011, 04:05 AM   #19
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Re: Skype Room for Full Time Traders

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Originally Posted by TRADEZILLA »
WRB,
All I look to do is to do is put myself in a position to get lucky...
Tradezilla, if this in essence sums up your trading style, and the method reaching it is not so systematic then I think its fine (that is largely what I have tried to do as well)....explaining that to others is incredibly difficult.

I could not agree more with all the points WRB has made and have been through the same things myself working alone and with others......but I have never tried to use a Skype room as I think another major issue with it is that it becomes noise.
A lot of context in speaking with people is visual, and different parts of the brain works on talking as opposed to visual components.....and when other participants dont see what you are seeing, or cannot see when you are busy it makes it difficult. I know I hate getting phone calls while I am watching something, but if that person is watching the exact same thing (or has the exact same style) then its a different kettle of fish.

Plus have you ever worked in a room with people when someone is bearish others are bullish.....it does affect people, moods, and how you interact and feed off each other. Agreeing to disagree all the time will become exhausting....look at the EU
not worth it
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Old 11-03-2011, 05:44 AM   #20

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Re: Skype Room for Full Time Traders

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Originally Posted by TRADEZILLA »
I disagree.. even with an edge, trading is ultimately still gambling.. The dif is, you can put the odds in your favor, that's all.. The edge is ocfourse never absolute.. what gives an edge in one setting will not give an edge in another setting.. identifying the setting is also part of the edge, but there are many dif ways to do it.. A good method needs to be versatile enough to survive dif market conditions.. Took a few trades in the morning and not trading till after the FOMC now...
I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?
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Old 11-03-2011, 06:28 AM   #21

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Re: Skype Room for Full Time Traders

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I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?
The only way one will get the odds in his favor is if he controls the game.I think we all know that the game is not controlled.

So, trying to get the odds in your favor is going to lead to certain disappointment.
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Old 11-03-2011, 10:02 AM   #22

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Re: Skype Room for Full Time Traders

How do you assess the "goodness" ?

Quote:
Originally Posted by TRADEZILLA »
WRB,
Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade.. The value is not in the opinion of other traders though I do believe trading with other good traders will sharpen your own skills by default... I believe good traders will not let others sway them from what they see... I trade with another trader that is very good.. we always trade what we see, not what the other person see unless we see what the other sees and agree..
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Old 11-03-2011, 10:10 AM   #23

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Re: Skype Room for Full Time Traders

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Originally Posted by TRADEZILLA »
WRB,
Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade...
Hi,

I was not implying you should or were teaching a class. I was implying that when someone saids the method is simple...they are exclusively talking about the method from their perspective only and not from the perspective of those hearing you say the method is simple. This may explain why that trader you mention was asking "endless questions" about your simple method or trade decisions. Further, you're already reading while trading because you're visually reading the info you see on your charts and data screens...assuming you're not blind. Therefore, maybe you meant to say that you don't want to take your eyes off your charts and data stream to open up a different window (chat screen) to read commentary by others because its another "reading input" you don't want to add to the existing reading inputs you're already doing with your charts and data.

With that said, SIUYA has it correct in that different parts of the brain react different when there are visual aids versus listening versus talking versus writing. This is a scientific fact and explains how we learn, interpret, analysis or whatever you want to call it.

In fact, if you're a trader that visually looks at a chart, visually looks at data streaming across your monitors to make trade decisions...you are a trader that also needs the same visual information to learn. Therefore, its common sense that when someone ask you for more information about your trade method...you show them images (charts and data) that you used to make those trade decisions to go along with any written statements or audio statements...assuming you're not a blind trader that makes trade decisions exclusively via audio inputs.

Another way to look at it, to explain your simple method without images is to imply you make trade decisions without "visually looking" at charts or data on your monitors. Therefore, if you decide again to explain your simple method or discuss key aspects of your trading day at a forum, chat room, email or whatever...throw in some images with your explanations to keep your simple method really simple.

It's amazing how the brain interprets info while trading.
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Old 11-03-2011, 12:47 PM   #24
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Re: Skype Room for Full Time Traders

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Originally Posted by jackb »
I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?
You nailed it! Playing the odds is what profitable trading is all about. Most traders can't get past the current trade and try to do whatever it takes not to lose, which may develop bad habits for future trades. Having an edge and putting the odds in your favor is how professional traders survive the long-run (i.e., thousands of trades) and that's all that matters - not today and not the current trade. Profitable traders play the odds because they can't predict or control the markets.
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