And what specifically have you contributed to society?
Gut Feel: That something special of Successful Traders
- Thread starter dealmaker
- Start date
And what specifically have you contributed to society?
i feed stray cats. you?
Really? Hmph. You need to meet some of the idiots I know then.
But either way... thanks for that list.
Thats certainly an impressive way to do it if it works... and I'm sure it does. You are obviously a very unique individual. Kudos to ya.
best laugh all day.
It does not matter at all. In the end it's the results that count. But yes, algos are superior in this way also, one person can monitor and trade all the markets in the world and have time left over.
There is a difference between the gut feeling of a noob, and the gut feeling of a trader that has been sitting in front of his charts/ladders for the past 10 years, 10 hours a day.
Just like there is a difference between the freestyling of an elite gymnast that has trained for 10 years, 10 hours a day, and a gym clown that is trying some tumbling and somersaults.
Just like the Marines say... practise makes perfect.
Just like there is a difference between the freestyling of an elite gymnast that has trained for 10 years, 10 hours a day, and a gym clown that is trying some tumbling and somersaults.
Just like the Marines say... practise makes perfect.
===Gut Feel: That something special of Successful Traders===
To deal with the market situation the trader has his method.
May one has a gut feel instead of a method? Theoretically it is possible, but also not probable
When people talk about the "gut feel" what they usually imply is that at some moment the "great" trader abandons his method and rely on his gut feel.
That is absolute amateurism.... nothing great about it.
But there may be three exceptions:
1. Applying the working method is not as simple as it may seems. There may be a complicated situation when trader has to determine which is the correct way to apply (not to abandon) his method here... in that case his gut feel, intuition may help him to properly use his method.
2. Each method (and trader) has its limits. Sometimes the gut feel (usually we can correctly call it fear) may tell the trader that he or his method reach that limit, then the correct course of action is to exit the trade or the market (not to continue trading without the method).
3. There are no finished methods, there is always something new to discover and incorporate into the method. Sometimes the trader may have the gut feeling that he found the new solution to the issue. Even if he feels that he should close the trade by the method ! Then he can switch to the paper and continue develop (test) the method using his new ideas.
To deal with the market situation the trader has his method.
May one has a gut feel instead of a method? Theoretically it is possible, but also not probable
When people talk about the "gut feel" what they usually imply is that at some moment the "great" trader abandons his method and rely on his gut feel.
That is absolute amateurism.... nothing great about it.
But there may be three exceptions:
1. Applying the working method is not as simple as it may seems. There may be a complicated situation when trader has to determine which is the correct way to apply (not to abandon) his method here... in that case his gut feel, intuition may help him to properly use his method.
2. Each method (and trader) has its limits. Sometimes the gut feel (usually we can correctly call it fear) may tell the trader that he or his method reach that limit, then the correct course of action is to exit the trade or the market (not to continue trading without the method).
3. There are no finished methods, there is always something new to discover and incorporate into the method. Sometimes the trader may have the gut feeling that he found the new solution to the issue. Even if he feels that he should close the trade by the method ! Then he can switch to the paper and continue develop (test) the method using his new ideas.
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Exactly Speedo; gut feel does not mean much unless one has years of price data in that gut
Most men dont make good decisions based only on feelings, some do; but many women do.Dave Ramsey had been buying real estate all his life, sold a bunch of it as a REALTOR. But one time when he got married his wife said ''i dont feel like you should buy that house'' [no reason =just a female feeling] Well Dave bought it anyway; worst house he ever bought, had a spring leak under foundation LOL
