Search results

A farmer doesn't make his money knowing summer comes after spring and that seeds produce plants. He makes his money owning enough arable land and knowing the right techniques to be able to cheaply and properly raise a crop to sell to consumers who don't have the same resources. Who are YOU...

Did you mean this sarcastically? Because it's closer to the truth than most would admit. The subconscious is alot less irrational than most trading literature will have you believe. If you know deep down you have no edge or have consistent negative expectancy, you will constantly find...

I really don't care if other people trade the way I trade; in fact I'd be pissing my pants if the majority started to think the way I did. But if I believe I can save others from some time and effort, after going through the same type of thinking for years and having to unlearn alot of bs, I...

Why do people always want to start with the shortest time frames? Why not start with 60min bars, and target 100+ pip moves?

You don't get it. You don't just tighten your stop to the point where it reaches an "acceptable" risk/reward level, relative to your imagined target. The point of the stop is to keep you in the trade until you are wrong. A tight stop (in either direction) won't keep you in any position, right...

No way. Not in this market. You might get away with simple stuff trading microcaps no one's ever heard of that barely break 100K shares/day. But fx will eat this shit alive. Those major moves you want to catch are often 60+pip jumps after news events where no tight stop will stand the...

What's there to study about a friggin chart? If you sit there 12 hrs a day staring at the bid/ask/last all day, day in, day out, you don't need charts except as a refresher for action that you missed. All the important levels should already be in your head, along with all the pertinent...

Guys, you gotta do better than that :(

Sentiment is one thing; a well-timed signal another. How many got taken to the cleaners trying to short tech in 99 to the first quarter of 00?

Nice post Austin.

Exactly. Charts just provide a point of reference of where the market has been. The next thing you realize is that if you're capable of watching the market unfold in real time, you really don't need the charts at all, given a certain time frame. The goal is to get the place where you are...

I think the "information advantage" you speak of is only pertinent if one is managing relatively large amounts of capital -- where even taking a meaningful position would have an impact on the market itself. Extensive research resources, informational contacts, and the general desire for others...

Coinz find himself a new home? He's been peddling this stuff in fx forums for a year now.

Chart patterns track the past, they don't predict the future. If you want honesty, studying charts alone won't get you very far at all aka it will cost you money.

That was Wednesday. That was Thursday evening. :confused:

I believe NTB gave the best summary of what constitutes "edge" here: http://www.elitetrader.com/vb/showthread.php?s=&postid=1075632#post1075632 I think he differentiates between edge and skill, although I might be mistaken (correct me please).

I tend to agree. Those "market template" type edges usually always fail eventually, given that markets will naturally adjust away from readily repeating patterns. To assume one is quick enough to adapt and keep up with changes in a "pattern" as it evolves over time -- well, that type of...

I'm not exactly sure of the gist of this thread, but africa has a point, it's always better to exit too soon. I remember when I traded nasdaq stocks, I would inevitably take only a fraction of the eventual move. After a while, I stopped kicking myself for missing out and was just resigned to...

On an older computer when I burned certain scratched up discs onto itunes, I would get these muted, barely discernible clicks. Now on my new computer, these clicks become really jarring white noise blips, like bursts of static. What could account for the difference and how can I change it...

Some luck helps too! :) Nice trade.