Advice from Futurestrader71

NoahA said:
Perhaps you would like to explain some more.

If he is truly an experienced trader, he knows that it doesn't matter how sure you are about the outcome of a trade. He was trying to take credit for an event that he forecast and had a high degree of confidence in. If you have such high confidence, why not risk 10% or 20% of your capital as a minimum? If you're not willing to risk even 5% of your account on trade, this means that your confidence level in the trade is not that high. Many people say risk no more than 2% per trade, so 5% might be on the high side, but I think still very small for a trade you feel very confidence about.

The fact of the matter is that because he is a losing trader (hence why he teaches), he knows the trade can turn out to be a dud regardless of how strongly he feels about it. So its rather dishonest to now claim how sure he was about a trade that ended up working out when he didn't have the balls to go all in. Its extremely easy to wait for something to happen and then state how sure you were of it happening. But if you put 20% of your account on the line, this shows a strong conviction, not after the fact blabbering.
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The guy owns a brokerage company. He does the morning market opening as a way of advertising.

The fact is he put out a number and it was hit to the exact tick 4016.25 on reversal. I just started listening recently, while I do others things, and IMO he knows his stuff.

If you feel differently or that he has an ulterior motive (who in this world doesn't?) ignore him. But as for the size trade he should or shouldn't put on, unless he divulges it, none of us have any clue what that is and are bs'ing to hear ourselves talk.
 
SunTrader said:
The guy owns a brokerage company. He does the morning market opening as a way of advertising.

The fact is he put out a number and it was hit to the exact tick 4016.25 on reversal. I just started listening recently, while I do others things, and IMO he knows his stuff.

If you feel differently or that he has an ulterior motive (who in this world doesn't?) ignore him. But as for the size trade he should or shouldn't put on, unless he divulges it, none of us have any clue what that is and are bs'ing to hear ourselves talk.
More...

A gambler bets a number on a roulette at a casino and hits it, does that prove he is a consistent winning player at any casino?
So why the fact someone put out a number on market and hit it proves he is a consistent winning trader?
He will need to hit 10000 times to prove something, just as a trader needs several years track record to prove himself.

Any trader looking for reversal point is a bad trader.
Because he is clueless about trend.
The reversal point is only a point.
Trend consists of hundred points.
So to find a trend is hundreds of times easier than to catch a reversal point, yet betting on trend makes hundreds of times more than to catch a reversal point.

Suppose if someone hits a 1/100 odds he makes $10, if he correctly predict a flip coin he makes $1000. Is the one who keeps trying the 1/100 odds smarter, or the one who works on predicting flip coin smarter?
Also you can assure that the one who claim he can hit 1/100 odds is fake, because if he can't predicts flip coin, then his claim to hit 1/100 odds is fake.

All the guys who try to catch a reversal point because they are clueless about trend.
The gambler who hits a roulette number is a losing guy,(as a winning guy would not play roulette at a casino) despite he sometimes hits the number.
 
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wmwmw said:
A gambler bets a number on a roulette at a casino and hits it, does that prove he is a consistent winning player at any casino?
So why the fact someone put out a number on market and hit it proves he is a consistent winning trader?
He will need to hit 10000 times to prove something, just as a trader needs several years track record to prove himself.

Any trader looking for reversal point is a bad trader.
Because he is clueless about trend.
The reversal point is only a point.
Trend consists of hundred points.
So to find a trend is hundreds of times easier than to catch a reversal point, yet betting on trend makes hundreds of times more than to catch a reversal point.

Suppose if someone hits a 1/100 odds he makes $10, if he correctly predict a flip coin he makes $1000. Is the one who keeps try the 1/100 odds smarter, or the one who works on predicting flip coin smarter?
Also you can assure that the one who claim he can hit 1/100 odds is fake, because if he can't predicts flip coin, then his claim to hit 1/100 odds is fake.

All the guys who try to catch a reversal point because they are clueless about trend.
The gambler who hits a roulette number is a losing guy,(as a winning guy would not play roulette at a casino) despite he sometimes hits the number.
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A lot of words. Most of which are not applicable to my trading.

Question: where does a trend start?

That's right, when price reverses:-
! TD reversal.png
 
SunTrader said:
A lot of words. Most of which are not applicable to my trading.

Question: where does a trend start?

That's right, when price reverses:-
View attachment 290795
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My previous post is not directed at you, but at that youtube guy.
As for judging a trend, I use a chart that is different than yours.
Also I would not tell how I decide a trend.
If someone has a real holy grail, the first thing he does is not to expose his secret.
I can only say that the method you use to decide a trend, should be able to applied to every situation, not sometimes it works, sometimes it doesn't.
 
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wmwmw said:
My previous post is not directed at you, but at that youtube guy.
As for judging a trend, I use a chart that is different than yours.
Also I would not tell how I decide a trend.
If someone has a real holy grail, the first thing he does is not to expose his secret.
I can only say that the method you use to decide a trend, should be able to applied to every situation, not sometimes it works, sometimes it doesn't.
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Have you watched any of his daily videos?
 
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