If you want to fail as a trader, study TA

[Fibbin-Archie]

Quote from odlareg:

Off course i mean theFREE resources archives.

FA, you must before the entry, know where to exit, to calculate your risk return ratio. So when you do not know this before you enter, it is like blinded gambling. When you know before entering, it gives a huge mental relieve. You start to see expected direction, the entry range, the stoploss range and the reward range.

Yeah thanks Oldareg, I know about OTA, attended one of the free workshops a couple of years back.

I'm OK with R:R on the first 50% of the position, but it's hanging in with the remainder that's problematic. That said, I just closed out a trade that I managed to stay in for a while with a decent return this afternoon, although I still came out a bit early. I should add that I've been practising this week on a very fast moving, liquid currency pair so a decent profit can turn into a loss pretty darn quickly.

I've decided it's a matter of holding my nerve.

Will have a new broker account up and running (hopefully) next week, then I'll be moving on to Naz and S&P stocks.

 

[WaveStrider]

Quote from The Expert:

Hmmm, well, let me think about that one

Nah

At the site we cannot mention , some files were put up by a helpful member, that I think may have been acquired by MK and MN?

Within these files, there is a clear description of what The Generals are taught to LOOK at, which, we need to know, but, only because they LOOK at the market this way, and not, because we want to trade it the same way as they do

Maybe Mk or Mn can extract a pic of a valid LOOK, and we can discuss. I have the files somewhere, but they are on a hard disk that I have buried in the vaults, so, I will need to dig them out, as I no longer need to LOOK at such files

TE

Alas, there are none as blind as those who will not see.

Or take a LOOK

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=look&sid=&o_symb=&x=0&y=0

 

[Fibbin-Archie]

Odlareg, have you got a direct link for the supply & demand articles by Sam Seiden?

Cheers...

 

[The Expert]

Quote from MAESTRO:

You can take a look at those gauges in here www.rtnstealth.com

Hi MO, I also have my own software that I use to help me see short term supply vs. demand changes, but, to be honest, if you are letting guys trade without charts, then, you lot really know very little about trading, and as such, maybe a more fitting title is TB for what you do, as in Trading Blind

No doubt you see the funny side

To say you can trade without charts is very true, in fact, you can trade without looking at anything once you have an account and adequate cash in it for margin, but to trade without charts is silly, stupid and ridiculous :eek:

It reminds a bit about Woodie ans his CCI, the magic indicator that can reveal very short term changes in price when certain things cross over:eek:

You see, what most do not realize, is that, you might well be making money trading with what ever approach you have, and yes, that is all that matters, but, since Time = Money, then, one should strive to maximize the amount of Money made in the shortest Time possible, and, to do this efficiently, one HAS to use charts, as charts allow one to see what the big players are doing, and, the big players are not concerned (extreme panic days excluded) about short term price movements

BTW, how much do you charge to show others what you have, just curious, as if I ever decide to sell my own software configuration, I want to make sure I do not SELL myself SHORT

TE

 

[The Expert]

Quote from macattack:

I don't need to read up on history anymore; I've gotten an entire history course from reading your threads. I totally agree about the few using their power to control the majority. It's pretty clear when you stop & think about it. There are many examples.

I have a question though; something that makes no sense to me. You seem to be quite advanced when it comes to using your brain & thinking along with some others that I know of. But in many of your threads you may have 20 people interested & trying to learn, and then 5 people that are just annoying idiots. You usually succumb to the idiots and stop the thread or sink to their level & argue with them, or if the thread gets moved to chit chat you'll stop posting in it as if you were insulted.

I could be wrong, but that seems to be a weakness, not a strength. It doesn't mesh with all the things you write. It seems to be the opposite. You let the "weaker minds" win, and you abandon the people you say you're trying to teach. Why is that?

MK, it is very simple, if I get fed up I move on!

Remember, you owe nobody anything, and nobody owes you anything. When you trade the markets it is gambling, very hard gambling, as you are up against the biggest load of legal crooks and robbers that operate anywhere in the world, so, best to get hard as fast as you can, for, the markets are no place for weak minded individuals, as, they will be eaten up in a very short period, which is what happens to most.

TA really means Trading Attitude, and, the better your attitude to the realities of the markets, the better you will become, and the better you become, the more money you will make.

No one gives a s.h.i.t about YOU, really, YOU are all on your OWN, and, if you think that even one person is out to help YOU, then you are an idiot and a fool:eek:

If you get better as a result of reading some of what I write, then, know this, it is not because of me, but it is because of YOU, as, YOU are the only one that can make things happen for YOU, not me, or any other half wit idiot on the internet

That said, TE is the only coach / trainer that does not charge a fee, ever, so in that respect, he is really the KING OF ALL IDIOTS

TE

 

[The Expert]

Quote from Mysteron:

A bit more info would be helpful TE.

In the past you stated something along the lines of: you learned a way of reading charts, and that when anyone else sees that too, then they won't want to tell anyone else.

Maybe if I stare at charts for long enough then I'll eventually see the face of christ, but thats not the kind of revelation that I'm looking for.

Until then I'll use my own judgement and B&E.

Best wishes.

OK MN, you have asked a very logical and very good question, so here is an honest reply.

Chart reading skills are a prerequisite to making money, but, the secret is CORRECT chart reading skills, which, very few know about, and even fewer practice.

E.G. how many know what a BOB is?

I know that those who have been trading for years know what a BOB is, and I also know that very few actually use BOB's effectively, but, BOB's are a very valuable tool in the daytraders toolbox, and, also makes good money for a lot of daytraders that use them CORRECTLY.

Can a BOB be called TA, well yes, of course, but it is not the regular TA that is pure and utter rubbish, and, the fact that you will find very little info about BOB's in the rubbish that is peddled to the general public, well, speaks for itself.

There are one or two books that mention BOB's, but, again, I have not yet seen one that explains the use correctly, in order to use BOB's effectively to make some good money daytrading.

TE

 

[The Expert]

Quote from limitdown:

a very dul edge at that.


one need watch price action and then filter through the rose colored glasses their perspective ...

any trader, or company only represents a fraction if not a small percent of participants at that particular vehicle being traded...

as such, one need have some indication of what the other participants are doing and have done during the trading and most recent trading days..

TA serves that limited purpose, but predictive, well that makes the basic mathematical presumption that all things being equal or remaining at the same momentum of participation...

perhaps now one can clearly see the flaw in what makes TA (technical analysis) both the most useful tool and the least useful tool....

trading has always been about competing contradictions, as if being a contridiction wasn't competing enough....

To clarify, regular TA, or RTA as has been mentioned at the site we can not mention is nothing short of pure and utter rubbish, and, if any would be trader decides to embark on the journey to find a cocktail of stupid and silly wiggly lines stacked one on top of each other, that will make good money trading, then, that person will get exactly what they deserve, as, that is exactly how it works.

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

 

[Fibbin-Archie]

Hey TE back on the plot...

Very true, you can take a horse to water, but you can't make it drink.

I think I've said it many times, I use a predominantly technical approach, but by the same token, I'll freely admit it's really just an EDGE-ucated guess. Just because a technical set-up worked last time doesn't necessarily mean it will work this time, every single moment in the market is unique, all we do in this business is quantify probabilities.

You're totally right TE, it's all about the attitude, attitude to money management and to getting the f*** out when the market is telling you that you're wrong.

Being wrong goes with the territory and you need to learn to deal with it or the market will teach you the hard way.

PS. you see wiggly lines, I see a high probability cycle top or bottom and MA's providing potential dynamic support and resistance, like I said it's not correct all the time, but a 70% to an 80% edge is something I can use. If I'm going to war then I want all the weapons in my arsenal.

 

[The Expert]

Quote from odlareg:

Mysteron, remember: Do not loose your open mind

I just returned from a small holiday in the wild. I think you and MK are right on track with the levels. Just now to see what levels are important. I think it is where the generals show their hands. The higher frames show this. Also gaps can be placed in this higher frame to understand them.

To leave and venture out on a patrol, you must first have had to establish camp

TE

 

[The Expert]

Quote from Fibbin-Archie:

Hey TE back on the plot...

Very true, you can take a horse to water, but you can't make it drink.

I think I've said it many times, I use a predominantly technical approach, but by the same token, I'll freely admit it's really just an EDGE-ucated guess. Just because a technical set-up worked last time doesn't necessarily mean it will work this time, every single moment in the market is unique, all we do in this business is quantify probabilities.

You're totally right TE, it's all about the attitude, attitude to money management and to getting the f*** out when the market is telling you that you're wrong.

Being wrong goes with the territory and you need to learn to deal with it or the market will teach you the hard way.

PS. you see wiggly lines, I see a high probability cycle top or bottom and MA's providing potential dynamic support. If I'm going to war then I want all the weapons in my arsenal.

Yes FA, there are many ways to skin a cat, and, for most, the end result is mediocre ways that yield very small results.

If one is serious about trading, and one is committed to spending a lot of time, but not a lot of money , to learn what is required, then one should be always striving for the quickest and easiest way to pull the most amount of money out of the market in the shortest time possible.

I have rubbed shoulders with many GOOD traders over the years, and, some of them know more about the markets that I will ever know, but, most of these traders had one thing in common, and that was, and probably still is, that, they are unable to hold on to their money:eek:

IT IS NO GOOD MAKING MONEY TRADING IF YOU DON'T HOLD ON TO IT:eek:

This is where the real TA helps

TE