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Vince50
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Posts posted by Vince50
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I don't know much to trading. I only know what I know from hard direct experience and repeated daily practice, note taking, reading, and chart time.But I come to conclusion its all discipline..............................
The success that a trader achieves in the markets is directly correlated to one’s trading discipline or lack thereof. Trading discipline is 90 percent of the game. The formula is very simple: Trade with discipline and you will succeed; trade without discipline and you will fail.
I have also come to conclusion that I don't feel bad about my previous losses in the beginning. Lets face it, I didn't know what the hell I was doing. And guess what.......I still don't know what the hell I am doing. But what I am doing makes sense to me and seems to working thus far. So all that technical and discipline stuff don't mean nothing unless the trader know what the hell they are doing.
Just my two cents.
But how will you ever know for sure you know what you are doing unless you are winning?
After all, isnt it true that the best indicator is your brokerage acct balance? :rofl:
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Thanks Bob. I'll just stay indoors for a few more weeks. Shhhhhhh...........
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Zdo,
You certainly are a passionate man about your right to bear arms. Some of what you say I agree with. But, I will never engage anyone who will start a sentence off with "The stupid leaders of this stupid country......" because in my world I cannot ever spit in the face of men who gave me and maybe all the world freedoms that would never exist without the "Fabulous 12" shall we call them.
That said, my man, I would like to step into a further direction about 2nd amendment rights and gun disarming and that is..What good will it be, if those who use guns in what they think is an appropriate situation, have to go into hiding,as well as their parents and family? AKA-George Zimmerman. I do not know much about the case. I admit that. But the problem I suspect is neither does anyone else...except Mr. Zimmerman. And his freedoms were taken away as he must live in hiding because certain groups of people feel trials aren't really fair, and like you, they might possibly believe the govt. is out to hide everything and screw every one over. I personally do not believe our govt is that radical nor as our choice of President proves...prejudiced! But..I think we have a lot bigger problems coming soon to a theater near you, when people we dont know, want to kill a man they don't know, over a teenager they dont know....for what reason...I dont know. This is a tipping point in people either grabbing or demanding certain rights that our country is NOT based on. Denial of due process. Is it a perfect system? No. Would every citizen of a middle eastern country and China AND Russia love to have our Prisons and judicial system? You bet. What I fear happening is that this may become a pattern, that when someone stands up for their rights, their families will have to go into hiding or heainous hate crimes will be purpetrated. This has been brewing a loooong time. And truthfully, I couldnt tell you who they are or give you a name if you gave me a million dollars. Sadly, does ANYONE know who REALLY will be responsible if citizens of America no longer feel they can step forward and testify to the truth, guns involved or not.
And back to the gun rights conversation, I do not think many of us realize that if the govt wanted to take away any of our rights at all, we have no choice but to accept it or leave the country. What wil we do, form militias to go up against the National Guard and Army? Give me a break. If they want to detain us in a prison in Guantanemo, they will and are doing so. If they want to invade our privacy in any way, they will and are doing so. I truthfully am very, very did I say very pleased that we have not had another terrorist attack since 9/11. You can bet that was no easy task for either Commander in Chief in charge since 9/11.
And if our govt wants to for whatever reason just open the doors of immigration to let every boatload of "Castro like immigrants" from the Scarface movie just run amuck on our shores, well...there isn't anything our gun rights can do about that either. Am I happy about all of this? No. But I believe peaceful protesting in the end will be the precursor for lasting change in this country. Gunshots just turn our heads for the moment. And yes, I do have my CCW permit in my wallet. Peaceful I am, foolish I am not.
Now back to a much more important subject. Ingot, when are you going to shave?:haha:
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I agree very much that when a bar of abnormal size appears, it sure is time to think about taking profits, as b-squared is right, you CAN always get back in. But...will you!? It is very easy to want to bank the cash and not want to risk another penny of it. You must know yourself. One tends to fall into one of two camps- You either take profit too early, or take profits and losses too late. So, if you know you wont get back in when the trend continues, then perhaps it is best to tighten that stop loss. But this is not free money. Tightening your stop loss too much is almost a sure way to THROW AWAY money. Do you really think a 6-8 pip stop is going to hold? It means you think with the exception of the tiniest pullback, it is going straight up. Of course I am mainly speaking about your larger time frames such as 4 hr and daily in particular.
Now for me personally, cutting my time frame to narrow my stop losses have cost me more money than Breakstone has butter. No matter what system I am using it just winds up costing me, and big by the time the trend is truly over. That is the beauty of taking the time to keep journals and do both back and forward testing!
And yes, I can say with the surety of someone trading for 15 years and sometimes trying so many ideas in my head, I would get myself confused! But if I were asked to give one rule I would stake my career on, it is this: If you do not see BOTH higher highs "and " higher lows on your chart you are not in an up trend. period. Same in reverse for shorts. I have saved myself more money by staying out of trades that had both a higher high and also a lower low,than anything else on earth! I dont care if you use moving averages, Fibonacci work or dart throwing. This you can bet on. Getting into a trade without a higher high and a higher low both being present, is just gambling...no matter what the indicators are telling you.
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Guys, I am still getting all kinds of annoying ads all over my screen. But not when I go to other forums or threads. I wonder why. Hmmmmmmm.......
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Im seeing a pattern already from this thread. The ones whose sleep is not disturbed are those who trade just one session,once per day. I think in Futures and Stocks it is much easier but in Forex, who doesnt want to know what is happening at 3:30am when they are "supposed to be trading 8am-1pm daily as the other trader on the pacific coast does. Paul Tudor Jones(all of you should see the video on him) is up at 4am, no shower, breakfast, just coffee...and hes right at his desk trading gold or forex at 4:05am And thats with 29 other emplyees! I always feel I am missing something if I trade only one session. I wish they just traded everything from stocks to forex at the same time every day, the same 8 hrs. Pick any time and I will go along with it. Woullnt all the traders in the world be soooo much more relaxed? The brokerages too!
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I don't talk about it - I just ... well actually my wife woke me up with a lovely coffee, and said sheknew of a fantastic way to begin the New Year ... that's all I remember until I realised the coffee
was getting cold!MM - were we separated at birth?
Your neurones seem strangely aligned to mine. You summed up my thoughts to a "T"
Happy New Year all.
I am leaving this thread - it has been on-off topic a lot, and I feel the point has been made ... and exhausted.
Thank you to everyone - I mean all of you, for your open and honest and even humorous views on this
emotional topic. I think we have all learned something from the exercise, and speaking for myself, I have a
broader appreciation of the issue of gun-ownership/gun-control through your contributions.
Have a great holiday season, and may 2013 be your best year ever.
Ingot and Patuca have contributed the most sane and clarifying posts on this thread. They are so much alike...no wonder they bump heads. We need BOTH of you on this board,guys.......both.
Anyway, there are things we can debate and things that are simply fact. I think that the example of 2 men in an argument and both having a gun or none having a gun or 1 having a gun cannot be replaced as an example in logic.
That said let me now give the prime example of what I feel is paranoia and twisting history around.
Many here are afraid of an enemy they can never beat and therefor why waste time. They are not afraid of organized gangs, thugs...whom always form loosley knit semi-organized gangs, and people with just a bad attitude....and a weapon! This is where 98% of your need for a weapon will ever come from.
WE DO NOT NEED GUNS TO PROTECT US FROM THE GOVT! are you guys insane. If they tried making our country more socialist and raise taxers thru the roof..........(oh wait,they did that already), what could we do anyway. Invasion of privacy like bugging our computers? Already done. In other words no matter how bad it gets, it is only as margaret meade the great anthropologist said, it is "Only non-violent expression and protest that can change things in govt."
Do any of you really think it would ever be necessary to form militias to go against a govt we have now. It barely,barely worked in the civil war when we had little army and no national guard and no satellite and phone communication. We could never ever overthrow our govt or get any rights back at this time in history. Nothing worth dying over,anyway.
IF IT CAME DOWN TO IT, THE ONLY SANE THING TO DO WOULD BE TO LEAVE THE DAMN COUNTRY IF YOU DONT LIKE IT. Or......you can just waste your whole life like Macolm X (poor soul) and just get under the FBI's skin and then later have your own people shut you up.
Who exactly are we going to need all these weapons against. Worried about home invasions or surprise attacks on the street. Ok...Im listening. But going up against the US govt is not only not possible, its a battle that cant be won. Better to leave.
Look at the proof. I am not bigoted at all, but lets look at one group who tried what we are worried about in more of a attitude than actual violence against the country---- listen to how many years a very large minority of blacks ,born here,have complained about our govt. I wish someone in their own community had the courage to take them out of their misery and remind them that there are 7 countries that have overall better living conditions than America....pick one and stop complaining! Same goes for disgruntled whites....pick one and stop complaining or learn to love this great land...our grandfathers died for it. Now our sons. Right or wrong....LOVE IT OR LEAVE IT or help it." But STFU already! :crap:
NOW LETS GET DOWN TO ANOTHER ...big psychological precursor or agitation button if you will. Warrior instinct! There are people whether thru genetics or just old cave man aggressive tendencies staying with some people more than others ...just make it very exciting to blow someone away! If you have ever watched 3 or 4 episodes of Gangland, lockdown, or lock-up on netflix streaming or TV re-runs you will meet many,many men who have an instinct to destroy and kill and control, even if there is no threat or benefit to them whatsoever!
These people seem to be re-emerging in this time period, given a little help from our insane movies,video games and news reporting that make a murder sound like the opening of another Burger King restaurant! That is my greatest fear and need for a gun. The growing number of psych-paths both born here and "imported" here. And if what I think has about a 33% chance to come tru...you anti govt regulation people are gonna be begging on your knees for FEDERAL intervention if and when local law enforcement gets overwhelmed. (oH I forgot...this happened already in several border states already too.)
Ok...someone count to 5,and then let Ingot slowly out of his cage. Boy is he going to chew on this one. (God bless yuh buddy!=)
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I will repeat it again as 2012 comes to a close. INGOT started this thread with one of the most rational posts on gun controil and also on saving this country that has been in print in a very long time. I hope more INGOTS...... no not ingrates, I said INGOTS! lol Anyway we need more people to speak out in a civil way. For as the world authority on Sociology in the world who has studied human change better than any person alive, Margaret Meade. She has said....."It is only thru peaceful protest can lasting change occur. Indeed nothing else has worked so well in all of history. Why are we not doing so much more of it?"
Look at the reverse actions using her tactics and the horror it caused the entire world. In 1932 or 33, Hitler staged his now famous "Beer Hall Pusche" and with a group of about 4 or 5 men, described how it was time for Germany to take her rightful place at the top of the world, and right there the Nazi Party came into being. With 5 men just talking to a bunch of drinkers in a beer hall!!!!!! If this does not give any of you some very creative ideas, God help you.
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Is this a paying position with real money? -) And what benefits both long and short term could one expect if hired? I am very proud, by the way in which this community is growing and I sincerely hope we never ever lose our model of " free to all." That said, if I was hired ,perhaps I would think of certain things that offered huge bang for the buck in offerings that were more than the usual discount offers from vendors who cant themselves turn a profit. That would harm TL credibility enormously. Keep on keepin' on!
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Hi Vince,Like so many questions that are asked on TL, I'm afraid that the answer is probably "yes . . . and no". There are undoubtedly a handful of firms (mostly, though not exclusively) HFT, making a hell of a lot of money using A.I. approaches, but I would guess the number of retail traders who successfully apply anything of this sort are very small in number. I would guess that no off-the-shelf software of this type will give you any consistent and significant profits. That's just my opinion though.
As a side note, Neural Nets specifically apparently aren't that popular anymore - A.I. trading moved on to things like genetic algorithms, modelling hidden markov chains, kalman filters, and a whole host of other things that involve the back-propogation of error. Unless you really know what you're doing, Neural Nets are just a complex method of curve-fitting.
For an easy and casual read on all this, I recommend Scott Paterson's "Dark Pools".
BlueHorseshoe
ps The direct answer to your question is that I have never made money trading with Neural Nets
Shoe, you wrote the above. We have had many interesting back and forths. I admire your opn mindednes. But as for what you and most people say about curve fitting, I think there is a lot ot be said for its predictability value over any random indicator could ever have.
Lets look at it "on the street." If I am a policeman or just work in a high crime area and I notice that out of 10 stick-ups and car jackings I witnessed in the past year, only one of the perps wore any kind of clothing that you could even call "appropriate," and none of the perps wore a collared shirt nor a tie, or even shoes.
Is it not in my best interest to instantly curve fit this data so that when Im driving my car in the same area(or maybe ANY area!) That my reaction should be very, very different to a guy who yells at me from the corner while Im stopped at a light "if I know where Joes Pizza Parlor is" if his pants hang down to his butt and he has 4 gold teeth in the front and sneakers with the tongue defiantly sticking out compared to a man with suit, tie, briefcase, and polished shoes, and no gold teeth...IRRESPECTIVE OF THE DEMEANOR OR MOOD THIS PERSON SEEMS TO BE IN?
I LIKE CURVE FITTING...IT KEEPS ME ALIVE. The eager to please politicians and naive activists have a name for this curve fitting.They call it "profiling" and unfair.Makes people feel singled out,they say. I call ignoring it-- ridiculous and harmful to your health. What amazes me is..the same people who bring this subject up are never people who walk in a "bad area" with a suit and tie. They have the sense to blend in! Why dont people who walk in decent areas also show the same respect. Ohhhhhhhhhhhhhhhhhhhhhhhh...the constitution argument...again. &&^%$#@!
Anyway, I am a firm believer that if when Bernanke talks, the market has gone down the last 5 times out of 6, ten minutes before he started speaking, you can bet money I will not be in any short term longs until his speech is long over. Am I racial profiling Jewish men with grey facial hair? Doesn't matter,does it? It keeps me safe from blowing my acct! End of story.
Also, I hear that many people who are in commodities have made a fortune curve fitting seasonal stats that fit each grain or anything growing from the ground. Books have been written on it. Not my cup of tea, but I respect it greatly none the less.
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If you buy into the NRA solution then you buy into larger government. If your solution involves only arming more civilians, then there are lots of unintended consequences that emerge such as lots more homicide and more accidental shootings. Mass shootings will either go up or stay the same because everyone has a gun. The incidence of mass shootings will likely mirror the suicide rate. We can assume that the shooter will not be able to kill as many people if other adults are armed, but they still will be able to kill. You won't stop them until after they start shooting.I suggest much much tighter gun possession laws and gun disposal laws. In nearly every instance of these shootings, the guns used were at some point purchased legally. If there was a law that made you, Patuca, responsible for the crimes your gun commits, then I would feel safe to say that your gun would not end up in the wrong hands since you would be a lot more careful about who you sold it too or if you left it out in the open to be stolen. I don't feel that it is necessary to remove the 2nd amendment, even though its value has diminished through time.
I got hit when I broke major rules. Needless to say, I got hit a lot. I prepared myself for children who would be like me. I didn't get what I was waiting for. They do what they are told. There is a lot of yelling, but they do not break any major rules. I am not going to hit them for no reason. I didn't get hit for no reason.
I believe that most criminals should be put in labor camps. Let them make gravel with sledgehammers. If they commit more crimes when released and have to go back in to crush stone again, then we know that they are truly stupid and not gaming the system for 3 square meals a day and bed. We need to focus on making money on every dollar we spend. There is lots of need for gravel.
The only way i would feel satisfied with capitol punishment is if a family member of the victim were able to do the killing. I am not talking about letting his or her hand push the lever down, in some sort of symbolic gesture, to release the humane drugs to slowly subdue and kill the murderer. If someone killed someone in your family, may God forbid it from ever happening, would you feel satisfied if the murderer was safely put to sleep? Fuck that. I at least want screams and torture for a period of time that
Again, if this is liberal, then I am liberal.
Patuca, we both know this can never be allowed in the USA..It must not be, for this is really the main thing that seperates us from Russia, and the middle eastern countries where they DO what you talk about to prisoners. But sadly as in all societies it cannot ever be KEPT in prisons.It leaks out to inhumanity for that countries citizens as well. Why dont we start oiff slowly. Just give the victims parents,spouse or kids some rights. And yeah it would give them great satisfaction to be saing to the criminal on death row as they are injecting lethal poison into them...."This was so unnessasary. I will still suffer, but at least maybe wherever you are going, you can tell your fellow inmates or cohorts that when you kill a person, you kill his family too. Look into my eyes and tell me if youd like to go your whole life with my rage and sadness?"
Now in 50% of the cases the murderer has not the CAPACITY to feel what we feel so it would fall on dead ears anyway. And to me, as in a rabid dog that just acts because it cant think, a humane punishment is really the thing to do................BUT NOT SITTING ON DEATH ROW FOR 5-10 YEARS, ON PATUCAS AND the countries tax dollars eating 3 meals a day and staying warm! Who benefits by that in our corrupt system? Nobody. It just "taxes" the system, forgive the sick pun. And if you want to be humane about it, maybe it causes grief to that mans family and children that maybe he will get out. Bring closure quickly! Yes?
So they dont close this thread on us, let me show how TRADERS could be affected by this. If a trader had his son or daughter killed by a maniac, could that trader ever trade the same again, or could he ever enjoy his succes the same way, knowing his wife and children were the ones he wanted to make proud of him...and now they are gone! SO YES,TRADERS MIGHT BE MORE AFFECTED BY A BRUTAL CRIME THAN JUST SOME ONE WHO ...........................??????
And now let us say a prayer for those 26 people whom I hope have reached their "final" destination by now, and to all the mothers and fathers who had the life sucked out of them in one day by some guy who just couldnt handle a simple disagreement or a step on his foot. Yes folks, we traders are not part of the Wall Street mentality and we grieve along with the families of the victims. God bless you all, wherever you are, whatever country you reside in. This as in trading, is a global issue. Amen.....
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Averages are for average (or below) traders.The only length that is about universally used, by those who use averages, is 200 .......... on a daily basis.
Stick around and wait for that to come into play. :sleep:
Large funds maybe care. :hmpf:
SUN, isnt it amazing how of all the averages if price is going to stop and respect any average its the 200. Yet 50% of the time it blows thru it. 25% it stops and then continues or reverses. and then another 25% IT GETS BIPOLAR AND JUST CUTS UP AND BACK OVER AND UNDER THE TREND LINE FOR WEEKS!(on a daily chart)
I admit in my own career if i ignore it,I regret it, and when i dont take a trade because the 200 is 2 bars away, I bite my hand. (not like Sonny Corleone lol)
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Good point DB. I think he leaves it there as either a safety belt or for the sake of his students in the trade room. Paul Im sure could win with nothing but price but he does believe in moving averages.
There are books written on both MA'S and books on just trendlines. Which i was referring to by the way are diagnal trend lines...not horizontal trend lines. To me the first helps you both understand the overall trend for that time period and the second shows you support/resisitance.
I bet if we went to 9 pros houses right now, 3 would have none or 1 indicator, 3 would have two or three moving avgs and a couple indicators. and the last third would have more indicators that a carnival has ballloons. Whatever works,right.
You gotta rent the movie "Gotti" and see "DB" get wacked by sammy the bull. Youll laugh.
I wish all of us a great new year and a better year of trading with a lot more, i mean a lot more volume and action. Isnt it amazing if you look at the runs all these pairs made especially anything with jpy or chf in it, the run was like 10 or 11 straight days! Yet the amount of pips which would usually constitute a collapse if that many days were piled up, didnt bring any gains worth writing home about, we didnt even have one 3 or 400 pip swing day the whole year I think. What a boring year its been,regardless what the charts show.
BRING ON THE NEW MONEY AND BRING BACK THE OLD! HAPPY NEW YEAR ALL!
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Hi again, I posted the snapshot and I am still barraged with 3 ads on every page I go to. Guess what the marketers are now doing!!!! When I am online with your site open as well as 2 or 3 other sites,I start getting audio commercials and I cant trace where they come from! Dont even know if your site is giving them to me first or also or not at all!!!! Is this the new wave, the new age of spam. AUDIO????
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Zdo,Make it simple:
2 people with 1 gun each. A heated argument ensues.
2 people with no guns each. A heated argument ensues.
2 people: 1 has a gun and the other doesn't. A heated argument ensues.
Which case is more likely to result in an accidental death? Least likely?
Which case is more likely to result in an intentional homicide? Least likely?
Which case is more likely to result in an accidental homicide? Least likely?
The gun advocates would say that when everyone has a gun, the world is safer. The anti-gun advocates would say that we are safer with no guns.
Reason is possible without emotion.
Most rational people will rank the above properly.
The bias is in favor of life. If we remove that bias and replace life with, say, profit, then there are other rational outcomes.
Mouse, I know you probbaly dont have the energy or desire to do so, but that example is so unquestionably true, that you could change the country by sending that to many newspapers and even congressmen who will have to vote on that. Imagine if we got bombarded with TV commercials asking those questions. Better yet.....imagine if we got the head of the NRA on a tv interview to ask HIM those questions, watch him twist it all around, and then after he leaves you or the interviewer can say to the whole country...."This is a man you pay money to join his organization?" Is this man not a sane logical man? Of course! So then he has to be lying thru his teeth! Ask yourselves why?"
AWESOME POST,MOUSE!
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I think the qn of whether something is preceived to me risky or not has to do with money management.I think if there is no money management, everything can be risky.
tenfold, every year thousands of new gambers go to las vegas with a system that is based exactly on money mgmt and every one of them lose in the end. Of course money mgmt makes you lose slower.
But in trading money mgmt is of course necessary, but the most important thing is, and will always be: to have a winning system that gives you an edge in every trade you take.
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I keep the alligator, the fractals and the awesome oscillator on my charts as well. Im pretty new with them but they seem to be helpful. Problem is, if they were really going to make people money, why could you get them for free on any MT4 charts?
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I don't know much to trading. I only know what I know from hard direct experience and repeated daily practice, note taking, reading, and chart time.But I come to conclusion its all discipline..............................
The success that a trader achieves in the markets is directly correlated to one’s trading discipline or lack thereof. Trading discipline is 90 percent of the game. The formula is very simple: Trade with discipline and you will succeed; trade without discipline and you will fail.
I have also come to conclusion that I don't feel bad about my previous losses in the beginning. Lets face it, I didn't know what the hell I was doing. And guess what.......I still don't know what the hell I am doing. But what I am doing makes sense to me and seems to working thus far. So all that technical and discipline stuff don't mean nothing unless the trader know what the hell they are doing.
Just my two cents.
Goodoboy, there is a movie you can watch on netflix streaming called Occupation:Fighter.[/b[ It is about a talented artist who gives up his career to follow his passion.....MMA fighting. Its a documentary. Tell me if you dont take back the words you just said after you watch it. The ending makes it all worth while. Anyone who liked Rocky will see the real life version and I mean REAL! Traders will really dig into theior soul after this touching and realistic documentary.
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The first thing traders must do is recognize markets for what they are...just inanimate vehicles that simply provide a means of making a living. Rarely are they a means for getting filthy rich. Yet traders continue to want to make millions by learning from a trader who already made millions. That's like expecting Tiger Woods to teach you how to be a billionaire trying to mimic what he does.
Roger,you wrote the above. And I must confess you are spot on. And I would like to make a wager that if every person on this board was told that if they learn to succeed in trading they will never be rich, just make double what they make now....90% (including me!) would be gone from trading forever. The truth is,and I hope you agree, there are many multi-millionaires who dont put in the effort some of the men and women on this board do to become successful!!! Trading often is not fair. 95%(I say its much higher for day traders) of traders lose, and the few percent that win, dont get a yacht and 2 beach houses and a sprawling ranch in Inibeza,Spain. You definitely get back pain and a need for reading glasses and ....well, lets leave it at that. lol
But I hope you agree,Roger, That trading is very much like a relationship with a woman, you can get those time periods where all you can think about is that woman, the sex is great, and every cloud in the sky is beautiful and every raindrop,pristine! But time goes by, and like a trading cycle where there is nothing but sidewatys movement for a long long time, most relationships get stale,and if they cant be fixed....we move on. But what do we move ON TO.....if trading loses its luster? Or as that song went in that Top Gun-Tom Cruise movie....what happens to your career in trading when......."Youve lost that loving feeling, And its gone, gone ,gone....." ???????????????????? I dont think Gann,Elliot,Dow,Livermore and all the old time traders loved trading when they were near death,anywhere as much as when they "thought" they conquered it! JMHO. Good post Roger!:applaud:
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worth repeating !Wow! Great video of that guy shooting himself with a Glock no less. Those guns get such high praise from every pistol lover in America. They even talk about how Glocks dont jam after 300,000 rounds and Glock co. itself is reported to have thrown a glock pistol out of an airplane to see the damage incurred. None!!! It was thouight to be almost mistake and idiot proof. This video would probably buckle the sales of Pistols if......very big IF......someone with money decided to show this all over the country. But since they cant make money from it,just save lives,why bother,right?
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maybe the government should regulate beards too? or maybe what you can or can't eat... drink...etc...Patuca, I dont know what they are, but all we have to do is look abroad at our first world nation allies who have very tight restrictions on guns to know if disarming the citizens work. I dont have the time to google all that info out. But there in lies the answer Period! Because human beings are human beings regardless of what country they live in. So...who on this board wants the facts!!!!!? It jas been given to us already. But lazy as we are it is easier to spout crap at each other rather than do research and present facts or stats to prove our point.
I am as guilty as the rest.
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Probably as bazaar and cynical a post as I've ever read. So, when I have a good day in the market, I took all of my profit from one single guy?...instead of a small amount from the multitude of other traders? And, because I'm successful, no matter how much I help my family, friends and fellow man, I am doomed to die alone, broke and forgotten...but giving it away is still somehow more righteous even if my family starves.As a trader, I get to spend more quality time with my family than any non-trader I know of and still have time to teach many others how to do the same. Time and financial freedom are two of the reasons I chose to be a trader.
People in all legal professions should be rewarded for their hard work, dedication, knowledge, skill, training and discipline. They shouldn't have to apologize to anyone because providing for their families and getting their kids through college and helping those less fortunate along the way doesn't meet someone else's definition of "making a difference in the world".
I will forever be amazed at how one person can marvel at a diamond while another sees it as carbon that got screwed up by too much pressure.
I only wrote this to be similar to pop or impressionist type art. The best art, my friend is born of despair. Trading like war...................and yes the average trader who goes up against guys like you with your robots, and professionally made software and coding is in a war against a very deadly adversary. Nothing personal Roger, but maybe that is why you feel the need to teach and sell besides trading. Trading cannot make a person feel complete. Not many,anyway. So Im just mixing in a bit of art and reality so few of us ever get to hear. We hear war stories, the trade that was missed, the great day or week someone had when they were running good that week. But you rarely find men who dip into their souls in trading threads. And maybe they arent meant for that. But then where does one go to find a deeper level of conversation about trading? It is almost impossible. Which brings us right back full circle, like a fractal, like some magical fibonacci number that sends our runaway stock crashing right back into our face and rruins the day, yes we come back to where I was originally saying.....Trading can be a lonely,empty profession. It can be wonderful too. But this is directed at either the 95% who are destined by statistics to lose.....and also the winners who find at the end of the day after squeezing out so many pips or points from the same setup over and over and over...it just is what it is.
I will end with sharing with you what one very successful trader said to a group of us as a guest ion a chat room. He said...."Once you get it, once you find that set up or formula that works for you and your personality, trading is just a job. I'm not really excited by it anymore. To me, trading done right ,done profitably is like working in McDonalds, robotically flipping burger after burger all day long. Or frying eggs and flipping them...all day long. There is no more guess work, no more intrigue, its just a business,because you KNOW what the end result to a very good degree is going to be,every single month..You see the setup, you click the mouse, you take it. You dont see it, you stare at a screen, you wait. Thats all trading in the end comes down to."
So lets throw his opinion in too. Personally I think this is a man that got burned out on trading which maybe is the bottom line here. Trading is not a magic profession that once you can make a living at it all your wants and desires are taken care of and boredom goes away. We still have many restless,boring days in life...just like everyone else. Look at the creative,wonderful people who made Traders laboratory. If trading was enough they wouldnt have spent years of their life building a trading community. I rest my case. And my art.
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It is illogical to pooh-pooh trendlines -- as Capra has done -- while advancing moving averages as a useful trading tool.Much of what comes from Pristine makes sense. This moving average business doesn't. Teach people how to manage a trade based on what price is doing, not according to how it interacts with some artificially-obtained indicator.
Db
No offense DB, but a very well respected author who has interviewed more pro traders than Jack Schwager says that of all things people can use and do use, not one person has he ever see use trend lines and make a living at this game or even be profitable over the long run. I concur. Trend lines are static and moving average s are not. Moving averages can be interpreted many different ways to make trading an art, trend lines are much more limited. If things have changed since my 15 years of watching this stuff, I will find out soon enough. (smile)
I also paid a loooot of money to learn from Paul, I'd say he is about the best trader around. Period. Can I or you replicate his results. I so far have not. I believe while he is generous with his knowledge, he does not tell all.
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Well....that brightened everybody's day,yes? :haha: Im trading 15 years and I have given everything I ever loved to participate in this "sport." Let me call it a sport for today. It sounds more invigorating. And no I dont drink.:bang head:
Is Discipline Enough to Succeed?
in Trading Psychology
Posted
I agree Angel. Over used for sure. But here is where we may disagree. I think it is also over rated. In fact, most trading horror stories come from too much discipline and confidence. I will take NATURAL TALENT in 95% of endeavors over discipline. I know this from personal failure all my life. I never wanted to be a trader. It came natural to me. But let me give you a real life example; Do you remember when you were in Junior High or High school that there was always that shy awkward kid with glasses on the basketball team that never fit in, He always blew the important shot, he tripped over himself, never had any grace on the court and because of his self image he practiced twice as hard as anyone on the team. Then comes the day of the big game and the ladies man, the captain of the team hears his girlfriend walking in to watch him and while he is looking at her, he cuts thru all the other opponents and dunks the basket, still without looking at what he is doing.
I'd rather be a natural than be good.
Id rather be lucky than disciplined.
Id rather have the right people helping me than to be the smartest trader.
By the way, I was not that young gawky kid. But because I had no talent in sports I knew it would have been, so I got into right brain activities instead. -) All the discipline in the world will not make an ordinary person into a Michael Jordan or Tiger Woods. It is impossible. I also believe that there are many, many shrewd people on these boards that will never ever be a break even trader if they tried for 50 years. Why? They see the chart in a different way(not bad or good, just different) than someone who is a winner and also sees the charts in a different way from losers.
Bet a lot of money, I mean all you own, that if you took the top 100 CEOs' WHO MAKE BILLIONS of dollars for their co in profits each year, not 5% of them could make a living trading no matter how disciplined or not they were. Agree?
Quick story: I was a young teen ager when Arnold Scwarzeneegger was a name people laughed at to pronounce. I had been following his career for years before his first movie. When his first movie was announced, I knew gyms were going to open up all over the country, and I wanted in. I devoted my life for years to being in the gym. I even took steroids to do anything at any price to simply become a local Mr Brooklyn winner. I was more disciplined than at any time in my life. I lived on eggs, tuna,chicken and salads. Yuh gettin the picture? And to be honest, I made some very modest gains, the steroids didnt do much at all, and I wasted my entire life living a dream that could never come true. Then I found trading 15 years ago and as soon as I saw my first moving average or indicator, it was a perfect hand in glove fit! And even today I'm not as solvent as Id wanted to be from trading because my mother died 3 years ago leaving me in total financial disarray. So you need luck too.
IMHO, the best indicator of a winning trader is who he has around him. The lone wolf traders of Market Wizards fame is an extinct animal, if ever even existed. So you can have the best discipline and the worst luck, and still not make it. Oh, money mgmt overcomes that? That "might" be true if you had NO living expenses. I dont buy it! In fact as a young blackjack dealer on a cruise ship, I amazed my pit boss by losing every week for 2 months straight! Its over 5 million to one. But if tyou think about life..there are always 5 million bad things out there that at any second could happen. How we handle it, and come back is another story for another day.....
Question: What is the best way to show discipline in trading? And to feel it!!!?