F U E.t.

[BobbiDigital]

Designing a profitable system is way too over used on this site (again the point I'm trying to hammer home).

I worked at a prop firm where we'd experiment by throwing shite against the wall...and if it worked it worked. It was all automated, it was all speed, it was very profitable (when there was at least a little volatility).

 

[BobbiDigital]

Quote from BobbiDigital:



One Timeframing: All timeframes line up. From the 1 minute bar to the daily/weekly/monthly bar. Every bar is going in the same direction. You get your 'vertical' moves in the market. So if the market is going higher, all these timeframes are above their prior bar highs and taking out highs right on down the the shortest duration timeframe. Very easy to stay in a postion until a 1 - 3 minute bar breaks below 2 previous lows risking little.

 

[Redneck]

Quote from BobbiDigital:

Designing a profitable system is way too over used on this site (again the point I'm trying to hammer home).

I worked at a prop firm where we'd experiment by throwing shite against the wall...and if it worked it worked. It was all automated, it was all speed, it was very profitable (when there was at least a little volatility).

I agree…


The system/ approach/ methodology will never a profitable trader it make

It’s the trader developing his/ her mind sufficiently to follow the damn thing... while exiting losers easily - that determines success

=======================================

On another note;

I just ran across this here thread of yours BD… and as I was one of the ones giving you advice on occasion – I can (reasonably) assume – your “Fuck you ET” is at least in part – directed at me

So here’s you chance – chew my ass as you see fit

I’m all ears

RN

 

[dom993]

BD:

How many times here on ET did you read EMG's classic : "95% of traders fail - they simply fail" ? And what was your takeaway from it?

I find it strange that when it comes to money, most adults still believe both in Santa & the tooth fairy.

Merry Christmas nonetheless
D.

 

[BobbiDigital]

I started the thread in the heat of the moment to help myself come around full circle that no matter how angry I was, I could at least look in the mirror and know who to blame. This helped me move on and focus on how much I learned, mentally, despite failing. Many others will go their whole life not realizing how full of themselves they truly are in every decision they make. There are no absolutes (right/wrong) in this world since no two individuals see/remember/project identically.

But it was too late (monetarily) for me to overcome my old beliefs burned deep inside...and despite knowing, I couldnt prevent the emotional rollercoaster during hot and cold streaks no matter how hard I tried.

My warning to other idiot traders like myself hasnt changed. if you think you are improving but cant or refuse to follow your own rules 100.00% of the time you are kidding yourself. RN, you made all these points crystal clear I just wasnt at a point to listen (and instead focused on the TA side)

 

[BobbiDigital]

Quote from dom993:

BD:

How many times here on ET did you read EMG's classic : "95% of traders fail - they simply fail" ? And what was your takeaway from it?

I find it strange that when it comes to money, most adults still believe both in Santa & the tooth fairy.

Merry Christmas nonetheless
D.

I took away he has some mental issues like the rest of us. I had put in alot of screen time (3 yrs) before embarking solo....

 

[Redneck]

Quote from BobbiDigital:

I started the thread in the heat of the moment to help myself come around full circle that no matter how angry I was, I could at least look in the mirror and know who to blame. This helped me move on and focus on how much I learned, mentally, despite failing. Many others will go their whole life not realizing how full of themselves they truly are in every decision they make. There are no absolutes (right/wrong) in this world since no two individuals see/remember/project identically.

But it was too late (monetarily) for me to overcome my old beliefs burned deep inside...and despite knowing, I couldnt prevent the emotional rollercoaster during hot and cold streaks no matter how hard I tried.

My warning to other idiot traders like myself hasnt changed. if you think you are improving but cant or refuse to follow your own rules 100.00% of the time you are kidding yourself. RN, you made all these points crystal clear I just wasnt at a point to listen (and instead focused on the TA side)

Words of wisdom, and possibly something to build on


Merry Christmas to You and Your Family - My Friend

And A Prosperous New Year

RN

 

[Wide Tailz]

Quote from BobbiDigital:

There are no absolutes (right/wrong) in this world since no two individuals see/remember/project identically.

:eek:

Is is wrong to make money and right to lose? Or is your very survival simply a matter of relative opinion?

If you are not anchored in any ABSOLUTE beliefs about The Market that you have proven statistically, all you have to go by is emotion...... we all know how that plays out.



Luck tends to visit the prepared.....

 

[oraclewizard77]

So let's take away some things that will actually benefit someone.

1) 1 min is noise, it's noise, it just is noise, no profitable TA book I have ever read claims to trade off of 1 min, so don't blame TA when you use a noisy chart.

2) Prop firms give you leverage, working at a prop firm is BS unless it was a company that hired you where you did not have to put down your own money and trained you for free. If you don't know how to trade, joining a prop firm will not help you.

3) Scalping the ES for anything less than a point is BS, you can't get in and out of the trade at the prices shown on your chart. Price needs to trade through.

4) Final point, while I believe in scalping, my scalping is for much more than what prop firms and ES scalpers go for. Trying to scalp 2 - 3 ticks on ES, or $ .10 on a stock is a sucker's game in that you will be competing against HFT machines that pay for order flow and sit right next to the servers on the NASDAQ.

5) Yes, you need to find a profitable edge to trade, then be able to trade it with discipline and patience. This is not poker, if you don't have an edge you will not know if you are holding aces in your hand.

 

[kut2k2]

Quote from oraclewizard77:

So let's take away some things that will actually benefit someone.

1) 1 min is noise, it's noise, it just is noise, no profitable TA book I have ever read claims to trade off of 1 min, so don't blame TA when you use a noisy chart.

2) Prop firms give you leverage, working at a prop firm is BS unless it was a company that hired you where you did not have to put down your own money and trained you for free. If you don't know how to trade, joining a prop firm will not help you.

3) Scalping the ES for anything less than a point is BS, you can't get in and out of the trade at the prices shown on your chart. Price needs to trade through.

4) Final point, while I believe in scalping, my scalping is for much more than what prop firms and ES scalpers go for. Trying to scalp 2 - 3 ticks on ES, or $ .10 on a stock is a sucker's game in that you will be competing against HFT machines that pay for order flow and sit right next to the servers on the NASDAQ.

5) Yes, you need to find a profitable edge to trade, then be able to trade it with discipline and patience. This is not poker, if you don't have an edge you will not know if you are holding aces in your hand.

Excellent post.