I'd forgot about this thread. Still been trying to trade price action full time for the last year.
Unfortunately, no further along yet.
Ask me again in 10 years or so.
Any long term strugglers out there?
- Thread starter Eddiemorra
- Start date
Unfortunately, no further along yet.
Ask me again in 10 years or so.
There are academic studies that indicated technical analysis actually worked, e.g.:
http://www.santafe.edu/media/workingpapers/91-01-006.pdf
They tracked the Dow from 1897 to 1986. However, if you study the details of the paper, you will not find outsize advantages:
Regards,
http://www.santafe.edu/media/workingpapers/91-01-006.pdf
They tracked the Dow from 1897 to 1986. However, if you study the details of the paper, you will not find outsize advantages:
Regards,
If you add in commissions, there is zero edge. surf
I also agree with Freedomshark 100%...but I believe you paraphrased him incorrectly...he NEVER mentioned anything about spotting a trend is easier...
You need to find someone in real life who you can meet in person who you know is a very profitable trader making tonnes of money, and convince them to teach you what actually works. Make friends with them. That's what just about every actual successful trader I know did.
The stuff from the gurus on forums doesn't work and has no edge.
The stuff from the gurus on forums doesn't work and has no edge.
From my limited experience of watching someone who had traded 20 years and was still not getting it ( a trading coach) : it's in the mind. This trading coach knew everything about economics, techniques, etc... When I was learning to trade, I did not bothered if the coach was profitable or not,
the only thing I wanted to find out was why the coach was getting into losing trades.
The real missing ingredient is how their mind leads them to "struggle", aka in simple terms fail.
I would be extremely astonished if such a trader alternated ( 10 days of a dhamma.org session, followed with one day of trading, then 2 or 3 days of psy sessions to work on issues discovered during the dhamma.org, 10 days of dhamma, one day only of trading, 2/3 days of psy session, etc... ) for one full year, to actually not be profitable at end of one year.
They have seen many trading systems, they know the economics, all the
"techniques". So they'll unclutter their losing trader mind that makes them
"struggle".
the only thing I wanted to find out was why the coach was getting into losing trades.
The real missing ingredient is how their mind leads them to "struggle", aka in simple terms fail.
I would be extremely astonished if such a trader alternated ( 10 days of a dhamma.org session, followed with one day of trading, then 2 or 3 days of psy sessions to work on issues discovered during the dhamma.org, 10 days of dhamma, one day only of trading, 2/3 days of psy session, etc... ) for one full year, to actually not be profitable at end of one year.
They have seen many trading systems, they know the economics, all the
"techniques". So they'll unclutter their losing trader mind that makes them
"struggle".
Well, I disagree.
I think most people simply don't have a robust methodology, but trade on gut feel using subjective methods. When they're lucky, they attribute it to skill, but when they lose, they attribute it to bad luck or whatever excuse is convenient.
Thus, emotional issues arise from their lack of knowing and overleveraged trading.
Another problem that is common on ET (and I'm guilty of it myself in the past) is trying to learn trading by live trading and usually with real money and high leverage as well. It's not a very good approach as you end up learning pretty much nothing. They think they're making progress, when they're not.
Well, first in my limited views :superleverage is actually a real edge when used properly.
The properly is important.
Now about the issue of method robustness : then the question comes again to "mind issues".
- Why the trader trades with a non robust method? why is that?
what are the type of thoughts they have : cravings for winning trades.
mind issues of being impulsive, "cravings addiction".
Here again mind issues.
- If the trader does not recognise his method is not robust ? why is that?
mind issues of denial
Now does this change your mind a little about what failing traders can do to improve their trading.
This thread is about people who have traded for long. Not newbies.
The properly is important.
Now about the issue of method robustness : then the question comes again to "mind issues".
- Why the trader trades with a non robust method? why is that?
what are the type of thoughts they have : cravings for winning trades.
mind issues of being impulsive, "cravings addiction".
Here again mind issues.
- If the trader does not recognise his method is not robust ? why is that?
mind issues of denial
Now does this change your mind a little about what failing traders can do to improve their trading.
This thread is about people who have traded for long. Not newbies.