85% of traders dont understand trading.
- Thread starter athlonmank8
- Start date
Seminar gurus are all around to create the need to pay more for training courses because "85% of traders don't understand trading".
Conman everywhere.
Conman everywhere.
Quote from Joab:
LOL
But that's exactly what you've just assumed by the first 2 statements.
Are you sure you don't predict ??
What's so funny? Read the third statement. I said PRICE. Like you putting a $50 target on SOLF. Where is that post BTW?
In fact, here i'll use you as an example. Your first target on SOLF was 24. Based on what?! Your crystal ball? If so, take it back! What would have happened had you been short at your target. Well the stock went to $32! That's a 33% difference from your target. As far as im concerned you might as well throw darts. On top of that you sold at 26.
Now let me get this straight...you targeted 24 and sold at 26?! You didn't sell your target? What'd you base that $26 sell on? That's my point. And in fact you proved it exactly. YOU DONT PREDICT PRICE. So laugh it up. I'd love to hear your explination for selling at 26 instead of 24. Especially when that was your "target".
Probability is what im referring to. Predicting sure. I'll give you that as long as it relates specifically to probability.
Do you understand what I'm even talking about?
yes trading is a game of money management and not a game of indicators. Using indicators is nothing but an excuse to practice money management. Pure TA is a trap. No matter what your entries are, everything is in how you manage your trades.
Yup. Money management is the means to maintain consistent profitability. It's the only way to extract profits from the game.
You can't use a blanket statement for this.. You predict price when there are supports/resistance areas (see attached).. When a stock is making new highs/Lows (SOLF), THEN it is silly to predict price. Those that shorted the First SOLF run to $15 should have covered at least and possibly reversed the trade as it closed well..
However in the case of CLF, once in the trade I would scale out and reverse trade once others did the job of stopping it at the "Predicted" price.. (in this case, high 90's)..
That's IT...you've found the "holy grail". And the only indicator that identifies that NO SUPPLY/NO DEMAND condition are the Bid & Ask. Plot them on your tick chart...when they go past the last print and come back several times, it means they are testing SUPPLY/DEMAND. If no trades at those higher/lower Bids/Asks...you've found IT.
It's also interesting to note that the level of hostility evident in some of the posts in other threads (see Forums âºâº Main âºâº Trading âºâº Honestly, Can You Be Successful Without a HUGE Account?) is IMHO a reflection of the posters' anger, frustration or despondence towards his/her own trading shortfalls.
When cave man hunt and kill no meat, cave man attack other people.
It's nice to back among the Bulls, Bears and Homo Erecti...
Merry Christmas to you too!
Tfuad.
First off, you need to chill.
I'm not mocking you or making fun of you and I'm agreeing with 90% of what your saying
What I'm saying is that you may want to examine your own statements and beliefs a little bit because your slightly contradicting yourself.
SOLF was a probability trade that fell into MY (being the key word) correct risk to return rules.
The fact that I was able to squeeze more out of it was MY acceptance of PRICE being correct rather them my rules.
I have another rule that says Hold my wieners and sell my losers fast.
Happy trades to you.
Surf, Happy Holidays brother !!!
btw, I did get the formula for that Bacarrat system and it was no big deal and I haven't played with it yet though.
Im sure this is a dumb question - but I'll press on regardless
whats the difference between the red ones and the black ones?
(yes - its a serious question - I honestly don't know.)
whats the difference between the red ones and the black ones?
(yes - its a serious question - I honestly don't know.)
Quote from athlonmank8:
Yes. Probability is probably the best way at describing it.
An example for everyone based on market probability.
Look at the daily SPY chart here.
http://stockcharts.com/h-sc/ui?s=spy
(fill chart, 460 size)
Count the number of "black" candles produced. It appears that the majority of the time the SPY has a black candle, the next day is red. (I count doji's as black).
If we total the number of black candles there are 10 (assuming I know how to count). 3 of those were followed by up days and 7 were followed by down days. Now the whole idea behind this is that the next time there is a "black" candle we can assume that there's a 70% chance of the following day being red.
(PS. If you change the size of the chart to landscape and keep the "fill" chart option on...your probability will be increased when totalling in the additional black candles).