i am advising all newbies, because i am the most experienced newbie, thanks to Brooks idiotic teaching methods.
Not because i am an expert
Not because i am an expert
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Advice to all newbies
- Thread starter padutrader
- Start date
Brooks biggest mistake, in my view, is not laying enough importance, to the definition of trend and its development: trends do not develop; they weaken and gradually very gradually turn into a trading range before turning into a bear.
unless you can identify, the various stages, in the gradual weakening, of the trend, and this is, not easy to do, do NOT attempt to trade.
Not, as in, N-O-T.
i have been studying books since 1987 and i started with Pring, Bollinger, Edwards and Maggee, Bulkowski, baby pips, stock charts, Linda Raschke, and a whole lot of less famous other names that i have forgotten.
NOT A SINGLE ONE, HAS STRESSED THE IMPORTANCE OF TREND DELOPMENT -NOT A SINGLE ONE, EVEN IN ET-AND IT IS THE SINGLE, MOST CRITICAL, FACTOR IN THE SUCCESS, OR FAILURE, OF A TRADER, or even, an investor.
entering, at the end of a trend, is disaster, for every type of market participant.
To say risk management, is the most important thing, is absolute bull shit because risk reward, depends on trend development.
as also does probability.
RR and probability alone, make no sense, without trend development.
i have been the only one, in the whole Fianacial world, that held the opinion that Risk management, is not, the most critical thing, in trading.
this is the single reason, 95 % of traders, lose.
it is the one critical thing that they have NOT been taught.
unless you can identify, the various stages, in the gradual weakening, of the trend, and this is, not easy to do, do NOT attempt to trade.
Not, as in, N-O-T.
i have been studying books since 1987 and i started with Pring, Bollinger, Edwards and Maggee, Bulkowski, baby pips, stock charts, Linda Raschke, and a whole lot of less famous other names that i have forgotten.
NOT A SINGLE ONE, HAS STRESSED THE IMPORTANCE OF TREND DELOPMENT -NOT A SINGLE ONE, EVEN IN ET-AND IT IS THE SINGLE, MOST CRITICAL, FACTOR IN THE SUCCESS, OR FAILURE, OF A TRADER, or even, an investor.
entering, at the end of a trend, is disaster, for every type of market participant.
To say risk management, is the most important thing, is absolute bull shit because risk reward, depends on trend development.
as also does probability.
RR and probability alone, make no sense, without trend development.
i have been the only one, in the whole Fianacial world, that held the opinion that Risk management, is not, the most critical thing, in trading.
this is the single reason, 95 % of traders, lose.
it is the one critical thing that they have NOT been taught.
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This is why I recommend studying nonlinear stochastic differential equations, linear operators, functional analysis, and operator theory specifically the equations related to filtering prediction and smoothing of stochastic differential equations covers a quite general class of processes some of which are known to calibrate perfectly to the markets in various ways.So so if you follow this idea to its most rigorous answer you will indeed arrive at the filtering prediction estimation and smoothing problems as they are defined in the field of stochastic processes and inference theory. It took me a hell of a long time to make this connection because I was always focused on just buying and selling the stock I didn't find a use for this stuff until I started trading options. If you rigorously formulate the problem of determining one process from another you actually realize this is the same as the problem of determining whether a trend is quote being " broken out of or not
So you have been figured out a critical thing, the single reason why 95% of the traders lose, yet you are still among the 95% of losing traders, after 20 years.
You aren't in a position to advice others on what to do, the only thing you are an example of is what NOT to do.
so can't you read, what i wrote in red? if you cannot even read, WTF, are you coming here for?
if you are an expert, why do not tell us what to do, start your thread.
so good they can follow what i am saying then
you are not in position to tell me what to do.
you cannot tell me not to post
i am reporting you
you cannot predict anything, leave alone stock prices; you can only follow them
you cannot beat the market, you can only join it
that is not my quote
a trend does not die, it fades away gradually and, before it's death it gets the most power and, if the trader is not aware of this, then he will think, the trend is in force.
a trend loses strength very gradually; if you do not know what stage it is, you do not know how much of it is still left, and, if you do not know that, then it is foolish to even attempt anything else, like buying or selling.
to calculate RR and probability, you need to know where the trend is in it's life cycle.if not your calculations are erroneous
NO TEACHER IN THE WORLD has said this critical thing
you have no business having a trading account.
Good luck with that.