If you want to fail as a trader, study TA

[The Expert]

Quote from macattack:

I realize TE could be a complete nutcase; I have no idea who he is; I have no idea who anybody on the internet is; but I've read enough over the years to know that what he says has the ring of truth if you read it about 10 times to get what he's saying. Don't forget I have other information from him also.

The truth of the matter is that I'm extremely desperate to be a successful trader, probably more so than anyone on this site.

So maybe in a few months I'll finally be making money and be able to say "I told you so", or I'll have wasted more time taking useless notes, and you can say it to me instead.

I just pray that it's the first choice with me making money. It really screws your life up when you try so hard to succeed at something and fail for years & years. Fortunately or unfortunately I have the trait of persistence, so I don't give up.

And yes I know I look like a dumbass posting to the site when he's not even here, but what the hell. Maybe he'll see later & respond.

A wise man learns from the mistakes of fools, not his own

 

[The Expert]

Quote from macattack:

One of the KEY things we must understand and learn is how to tell the difference between a "high risk entry" and a "low risk entry".

By the way................has anyone you have given advice/coaching to turned out to be successful? Just wondering if anyone ever "gets" it.

Well done MK, do you now see how easy it is if you but read what is written CORRECTLY

 

[duhmentor]

Quote from macattack:


The truth of the matter is that I'm extremely desperate to be a successful trader, probably more so than anyone on this site.

macattack;

I'll ask again, what is holding you back?

Why are you not achieving what ever goals you set for yourself?

Answer that question honestly and you will be on your way to being the successful trader you aspire to be.

 

[macattack]

Quote from duhmentor:

macattack;

I'll ask again, what is holding you back?

Why are you not achieving what ever goals you set for yourself?

Answer that question honestly and you will be on your way to being the successful trader you aspire to be.

Well..........I don't know what the hell I'm doing. I don't understand when to enter & when to exit. I try to control risk with stops & get stopped over & over. I remove stops and then really get killed.

I don't understand the marketplace and how it works. I don't know when to bet big and when to bet small. One day breakouts will work, the next day I try breakouts and they all fail.............Anyway there's a number of things. I just don't know what the hell I'm doing.

I learned all my life that if I wanted to learn something to read a book about it, so I've read book after book and internet thread after internet thread.

I lack patience, discipline, money management...............all because I don't know what rules to follow. I can play blackjack all day long and never deviate from basic strategy and never overbet because I know the rules and the odds, but I don't know any of that with trading. I'm friggin' lost !

 

[The Expert]

Quote from gktk:

Hi TE

Been catching up on this version of the "study TA to fail" thread, quite similar to T2W in such that the 2 camps of posters appear, insults flowing from 1 side and some serious responses on the other.

Not quite sure if this question is 100% relevant to the thread title but I would like to understand Multiple Time Frame Analysis and how is relates to intraday trading.

I know we need to have the daily charts up but if we are looking for at least a $0,50 move in a day what is the importance of the daily chart when we are trying to catch the slice of an intraday trend?

What are we looking for on the daily that can impact the intraday swing?

Hi GK, nice to see you again.

MTFA is very important for trading any market, as it allows you to SEE the MAJOR levels at which the risk/reward ratio can be interpreted CORRECTLY

For US Stocks, it allows us to see at what levels The Generals are likely to move some big money around

Let me see if BDX is still holding out, and the shorts had to cover after shorting at the wrong TIME = MONEY

TE

 

[macattack]

Quote from The Expert:

Well done MK, do you now see how easy it is if you but read what is written CORRECTLY

Nope. Not really. Nothing seems too easy lately.

So................................how do I learn to differentiate between "high risk" and "low risk" trades?

 

[The Expert]

Quote from duhmentor:

macattack;

I'll ask again, what is holding you back?

Why are you not achieving what ever goals you set for yourself?

Answer that question honestly and you will be on your way to being the successful trader you aspire to be.

The answer is very simple, as plain as the nose on your face, but, MK can not see it, for he has one (1) major problem that HE needs to overcome.

TE

 

[The Expert]

Quote from macattack:

Nope. Not really. Nothing seems too easy lately.

So................................how do I learn to differentiate between "high risk" and "low risk" trades?

ELEMENTARY, my Dear Watson



TE

 

[The Expert]

Quote from LeeD:

The Expert

I bid you welcome.

I understand this is going to be an educational thread. I aqm looking forward to something worth learning from.

P.S. A friend of mine takes strong fundamental views. I am a technical opportunist. The friend said EUR/USD would decline today due to declining probability of Greece bailout. I said the rate wouldn't break the 3-month channel. Both of us made money today...

The Expert did tell them that a short was the best opp, before he was banned at the site we dare not mention

If my memory serves me correct, I think it was something like "flogging a dead horse"

Well done, and a WISE call

TE

 

[LEAPup]

Quote from The Expert:

ELEMENTARY, my Dear Watson



TE

What is the Time Frame of this chart?