If you want to fail as a trader, study TA

Status
Not open for further replies.
Quote from Mysteron:

Surely it is not illegal for a US citizen to have a CFD trading account with a non-US broker.

Earlier this week I lost a few trades and decided that, in future, it would be a good idea to wait a period of time between trades, get away from the screens for 10 or 15 minutes, to let the emotions settle and start thinking logically again.

Yesterday started well (for me 7pm UK time), S&P 500 started to drop at about 2pm US time, shorted CLF and started making a few $. At the first wiggle I covered as I decided that CLF along with the S&P 500 was changing direction. So I went long on CLF and saw the drop then continue after a pause. Big mistake as I gave back what I'd gained and then lost a bit as the falls continued until close. After that experience I'm very much bothered by my error and trying to grasp why I did what I did. With hindsight the error is obvious but its understanding why I made the error in the heat of the moment. The point is that I can't just let it pass and move on to the next trade, thought is needed to avoid that behaviour, to reduce the liklihood of it occuring again.

So MA think very carefully about what you ar doing and make some changes before continuing.

Regards,
R
More...

MN, you have jut described the classic "sucker" mentality, which is the way most feel when trading.

You don't need to know WHY you made the error, and, what you NEED to DO is not let the error happen again:eek:

Prevention is the best cure, so, KNOW what YOU must do in order to win, and, if that requires some losing trades, then so be it:D

Rome was not built in a day:cool:

You can have 4 losers and 1 winner, and, still make GOOD money:D

TE
 
I understand. I see where you're coming from. I've been meaning to check the God Delusion out for some time. The Selfish Gene sounds like a good one as well.

I guess I'm thinking more along the lines of errors in human coding, DNA. There are actual errors that occur within the double helix. The building blocks of life make use of a mechanical system. A mechanical system is one that has exact steps in order to complete the process. In mathematics, another mechanical system, if you mess up on one of the steps, you will get an incorrect answer. So the system is in place but the pieces don't always fit. It wants to work perfectly every time, verifying each step in the process, but that just isn't the case.


Quote from Mysteron:

I'm not taking sides IB, just stating what I believe.

A long time ago I read the following books, which gave me a better understanding how nature operates to perpetuate genes, without regard to individuals:
The Selfish Gene,
The Blind Watchmaker.

I never got round to reading the GOD Delusion, but will when I get the time.

"In The God Delusion, Dawkins contends that a supernatural creator almost certainly does not exist and that belief in a personal god qualifies as a delusion, which he defines as a persistent false belief held in the face of strong contradictory evidence. He is sympathetic to Robert Pirsig's observation in Lila that "when one person suffers from a delusion it is called insanity. When many people suffer from a delusion it is called religion."
More...
 
Quote from The Expert:

The main purpose of religion is CONTROL.

At first, people worshiped individual GODS in their search for answers to what they could not understand, aka, ignorance.

Most of these GODS were worshiped for the GOOD that people experienced.

Then, some being more clever than others, saw that by introducing DUALITY, aka, GOOD and EVIL, it was possible to CONTROL the masses, as they were already brainwashed thru their own ignorance.

You might have heard the expression, "Put the FEAR of GOD in YOU".

This one act was, and still is, the greatest calamity that has afflicted mankind since he evolved from a swinging monkey.

Weak minds are easily led, and, to be strong minded one must first accept the reality of the way things are, no matter what others before you, including your parents, have said or done.

It is so OBVIOUS, if you but STOP and THINK about it:eek:

TE
More...



I do agree religion is bullshit , but I do know 100% beyond doubt god is real along with spirits, and an afterlife.

Any of you had a Near death experience? I have. Read up on them. The contrary would say that a chemical was released in my brain making me hallucinate as a natural part of death. There is NO WAY that 1000's of others had a VERY SIMILAR experience . The blind from birth being able to explain things that they SAW in their NDE proves to me that I wasn't just hallucinating. Atheists becoming believers after an NDE says i wasn't hallucinating. Calling of a loved one to "home" or heaven. Being with god and viewing your life with him and seeing and FEELING how your actions affected others. It was real and god made it clear to me that my purpose on this earth was to love and help others. Life is that simple. Love and help others. I don't care if you guys think im crazy now but it is what it is and I tell it like it is.

I would also like to add that when my grandfather passed away, the grandfather clock that was broken in their house for 15 years went off while they were carrying his body out of the house. Coincidence , HELL NO it wasn't a coincidence that a borken clock for 15 YEARS decides to ring like hell again on that day.
 
Quote from The Expert:

DR, you are beginning to sound a bit like TE:D

TE
More...


Haha! I think everyone needs to have a good slanging match on ET every once in a while.

It's a form of therapy and i'm glad the mods just let us get on with it.

Here's to the ET mods, long live the therapeutic outbursts.
 
Quote from blox87:

I do agree religion is bullshit , but I do know 100% beyond doubt god is real along with spirits, and an afterlife.

Any of you had a Near death experience? I have. Read up on them. The contrary would say that a chemical was released in my brain making me hallucinate as a natural part of death. There is NO WAY that 1000's of others had a VERY SIMILAR experience . The blind from birth being able to explain things that they SAW in their NDE proves to me that I wasn't just hallucinating. Atheists becoming believers after an NDE says i wasn't hallucinating. Calling of a loved one to "home" or heaven. Being with god and viewing your life with him and seeing and FEELING how your actions affected others. It was real and god made it clear to me that my purpose on this earth was to love and help others. Life is that simple. Love and help others. I don't care if you guys think im crazy now but it is what it is and I tell it like it is.

I would also like to add that when my grandfather passed away, the grandfather clock that was broken in their house for 15 years went off while they were carrying his body out of the house. Coincidence , HELL NO it wasn't a coincidence that a borken clock for 15 YEARS decides to ring like hell again on that day.
More...

You seem to be predisposed towards spirituality, prefering supernatural explanations instead of physical reasoning. By all means think that way if it gives you comfort.

Regards
R
 
Quote from IchibomB:

I brought this up initially to talk about the use of mechanical systems in trading to avoid emotional pitfalls.
More...

Buy dips, sell peaks... it's a very simple statement but it contains a lot of truth. Dips are hesitations in a trend so it's saying to trade with the trend only... and only at safe times... bet on sure things pretty muchly.. and it's very mechanical once you watch charts enough...

Let winners run and cut losers short... that is fairly profound really, it points to the need for the knowledge of where to place stops and how to interpret a trend and know when it's ending.. that my friend is not so easy to discover but once you crack that one it's very simple and very mechanical also...
 
Quote from Mysteron:

You seem to be predisposed towards spirituality, prefering supernatural explanations instead of physical reasoning. By all means think that way if it gives you comfort.

Regards
R
More...

Do you suppose that physical reasoning outranks supernatural explanations?

By all means, think that way if it gives you comfort.
 
Status
Not open for further replies.
Back
Top