Handle, You are exactly right on Yellon. It is very interesting how the first move is invariably a false move no matter what report is out. It is fun to watch the oil inventory report on Wednesday mornings and all the gyrations that creates. Incidentally, we had a couple of phone conversations a few years back and although I don't post much, I do appreciate all your thoughtful comments on this site and your sincere desire to help other traders.
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A Trading Hazard
- Thread starter Illini Trader
- Start date
Handle, You are exactly right on Yellon. It is very interesting how the first move is invariably a false move no matter what report is out. It is fun to watch the oil inventory report on Wednesday mornings and all the gyrations that creates. Incidentally, we had a couple of phone conversations a few years back and although I don't post much, I do appreciate all your thoughtful comments on this site and your sincere desire to help other traders.
He wasn't blaming anybody he was just pointing out sole price action. Good grief.
No. He could have stopped at pointing out sole price action. But no, he continued on with a rant about "its a nifty racket" and how the whole world was conspiring against him.
Your post exemplifies everything that is wrong with the retail trader.
If a trade doesn't go in your favour, its never your fault, always the fault of your evil counterparty because they supposedly hunted your stops or made sure there was slippage on your trade.
You're trading off a 5m chart, what do you expect ? Its full of noise ... increase your trading timeframe and relax !
Tim, you are spot on and I hear you. Mark Douglas finally got through to me that we traders are fully responsible for our decisions to enter and exit. That said we small guys have to understand that there is measure of trickery played on us and we must be aware that it is real and it does exist.
I did not trade this as it did take me many, many years to learn that I could not profit on the very small time frames like the 5 min. I salute those who can do it, but the noise just whipsawed me.
I was just having a bit of fun to throw this chart out there and illustrate how I used to trade.
From one trader to another:
To change your perspective here is a documentary from the 80's that is worth watching.
H.
I watched the video. Thanks for sharing. Interesting that one guy commented that a trader is "ancient" at age 40 and is too old to keep up. I am 72 but I am having fun. Those guys did not look like they were having fun at all.
He wasn't blaming anybody he was just pointing out sole price action. Good grief.
Agreed. Illini Trader made an insightful post. If only we had numerous threads with charts, patterns and the psychology at work during those chart patterns.
Instead, we have a brigade of loons that repeat the same bullshit ad nauseum.
...commented that a trader is "ancient" at age 40 and is too old to keep up...
The work environment these traders are in and the huge positions they deal with on behalf of their bank or fund really puts the stress on, even though it's not their money.
I think doing this as a private trader is completely different, and it's a type of game where experience really counts.
H.