'some people are really poor...all they have is money'
all novices:before you start trading read this
- Thread starter padutrader
- Start date
why do you have to pay....
there are traders who have spent 20 or more years trading studying.....there is GS who have spent maybe a 100 years...
why learn anything?
just see what the experienced traders are doing:
all the experienced traders can do only two things....buy above high , sell above high; buy below the low or sell below the low.
see what they are doing because they will do continue to do it....until they do the opposite.
why be like that jackass idiot who spent 12 years learning, losing and entertaining members with his journal?
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padutrader,
Answer these questions please sir:
1. Please tell me what you were doing wrong the 12 years in your trading , so I do not repeat the mistake you made.
2. What is your 3 biggest regrets in trading?
3. If you can repeat starting 12 years ago, what would you do differently?
Thank you sir
my thinking is totally different or even mad.
too much leverage too big positions.
....that is what i like to do so i do it.it is by biggest mistake but i have turned it into a advantage.because i do not want to discipline myself..
i now know enough not to have losing trades.but if you ask me what i know i cannot write it down.
if a novice sees me trade, he will call the mental asylum and have me committed.
the pros say risk 1% of capital. i put 100% into every trade.
think the biggest mistake was reading books.
seeing what others were thinking and doing.
we have to develop our own style.
and not think or do what others do.
i would not read or see what others are doing
just trade and trade.
Some concepts Of Al were good.like his trend lines and micro trend lines.
the market will test a trend line twice. i am using this to take trades and for targets. meaning if it has touched a trend line once and moved off it it will touch that line again.
but you have to careful with this. draw a few lines and see where it get you.
everything depends on how you draw the lines....
it is very subjective but therein lies the POWER.
people do not like subjectivity....but i have taken a bad and turned it into my weapon
traders want to discover formulas...make rules....i tried that for long time
did not feel comfortable. it limits you tremendously.
just see what the market is doing now and look between the lines:it will continue with the same thing. if it is trending expect it to trend, if it is a range it will range.
like i said traders can only do 2 things
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i do not have a fixed way of thinking...i just see the market, what is doing..
it is like driving a car...see the traffic.....
and react
if somebody asks how do you drive..answer: i drive.
humans like to rationalise everything.
markets have to have 3 waves or have to reverse at 60% retracement or a pivot.....or some other stupid crap.
if you reallly check markets may reverse anywhere not at a pivot at a support or ...
there is only one thing i rely upon.....
if a seller comes into the market,he will not go away.
if a buyer comes into the market he will not go away
i watch for that....if market is moving up,are the sellers coming.
it will not fall when they come in but the next reversal pattern that comes i will take it....
the sellers are the context...but no seller wants to kill the momentum,no seller wants the market to go down,so they will sell that way...but the buyer will know sellers are there, and eventually the buyers will stop......either by stopping buying and then closing their positions or by taking the market up rapidly so that they can close out.
and then only sellers are there and the cycle takes place in reverse.
this happens all day long
it is like driving a car...see the traffic.....
and react
if somebody asks how do you drive..answer: i drive.
humans like to rationalise everything.
markets have to have 3 waves or have to reverse at 60% retracement or a pivot.....or some other stupid crap.
if you reallly check markets may reverse anywhere not at a pivot at a support or ...
there is only one thing i rely upon.....
if a seller comes into the market,he will not go away.
if a buyer comes into the market he will not go away
i watch for that....if market is moving up,are the sellers coming.
it will not fall when they come in but the next reversal pattern that comes i will take it....
the sellers are the context...but no seller wants to kill the momentum,no seller wants the market to go down,so they will sell that way...but the buyer will know sellers are there, and eventually the buyers will stop......either by stopping buying and then closing their positions or by taking the market up rapidly so that they can close out.
and then only sellers are there and the cycle takes place in reverse.
this happens all day long
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as you can see i have read everything in the books and i have put it all where it deserves to be.
not in some stupid strategy or trading plan or algo ..
but in the dust bin.
i do not rationalise the market.
not in some stupid strategy or trading plan or algo ..
but in the dust bin.
i do not rationalise the market.
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the market is continuously testing where the buyers are and where the sellers are and it will react to that.
not to some pivot level, support level, high or low....
now what are you going to react to
i do not predict.
i react.
not to some pivot level, support level, high or low....
now what are you going to react to
i do not predict.
i react.
Me. What separates a great trader from the Hoi-Polloi is one knows how to get out of their losses and immediately forget about the fact they lost.
"fall off a cliff a 100 times and then you will recognise a cliff."
I don't think you get a second chance on that one. I have to say, your posts are funny. Not sure if it's intentional, but nonetheless they are funny.