This only makes sense if you are the one moving the market, something that takes millions to accomplish. You time reversals that way you are just buying or selling at a level without knowing how that level is going to behave. It's trading based on wishful thinking rather on what the market is doing. Also the crowd doesn't move the markets, money does. You can have thousands of people buying if all they have is 2k accounts, it takes only one big fish to sell and make them all puke.
Is trading really hard work?
- Thread starter hurricane_sh
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This only makes sense if you are the one moving the market, something that takes millions to accomplish. You time reversals that way you are just buying or selling at a level without knowing how that level is going to behave. It's trading based on wishful thinking rather on what the market is doing. Also the crowd doesn't move the markets, money does. You can have thousands of people buying if all they have is 2k accounts, it takes only one big fish to sell and make them all puke.
I don't agree on many points.
If you get in when/just after the big fish gets in you don't have to move the market because the big fish will do that for you. I am like the mouse running with the elephant.
I buy or sell because I know with high probability that I will be right, so statistically I know that by doing that consistently I will make money. It has nothing to do with wishful thinking. Wishful thinking is detremental/lethal in trading. It has every thing to do with building a good system. If it is wishful thinking for you, it means you do not understand why people buy or sell.
I refer to my first comment: I am like the mouse running with the elephant.
If you get in when/just after the big fish gets in you don't have to move the market because the big fish will do that for you. I am like the mouse running with the elephant.
I buy or sell because I know with high probability that I will be right, so statistically I know that by doing that consistently I will make money. It has nothing to do with wishful thinking. Wishful thinking is detremental/lethal in trading. It has every thing to do with building a good system. If it is wishful thinking for you, it means you do not understand why people buy or sell.
I refer to my first comment: I am like the mouse running with the elephant.
My friend, this is very different from what you said in the post I quoted. You were talking about being first, now you are talking about waiting for the big fishes to make their moves. I agree with the latter, not the former one.
You clearly did not watch the chart. I wrote:You should be the first in the crowd to do things.
So clearly crowd, I never said before the big fish. You see everywhere the word CROWD and nowhere the word BIG FISH.
The red zones are the zones to enter the trades. Watch good and you will see that the squares go from before the top till after the top, and from before the bottom till after the bottom.
I get in when I have a signal, I don't care about the big fishes. Sometimes I am ahead of them, sometimes I am just behind them. But I am always close to the turning points.
I clear marked the zones to go short and to go long.
Do the big fishes call you to tell when they entered? How do you know when they enter?
Sorry but I am lost, too many contradictory statements.
I look for liquidation and exhaustion of the momentum (a wall of orders stoping a move, absorption at certain levels, etc.) it's clear on the DOM but you won't be able to see it on charts.
In my first posting there were no contradictions at all. And there you were already lost.
As you started to speak about big fish (which I did not use in my first posting) I replied on your "big fish".
You also told about being first (before the big fish) which I did no write at all.
Big fish is irrelevant for me.
I never watch the DOM, I watch charts and I see what I need to see.
My old trading coach called it "the hardest easy job there is"
You should try trade thinly traded options, sometimes, I own all the OI and trust me, I moved the market with 10-50 contracts.
You should try trade thinly traded options, sometimes, I own all the OI and trust me, I moved the market with 10-50 contracts.
That's what scares me about thin markets
I think that work is difficult psychologically. Not everyone can cope with such severe psychological pressure, when every day you are wrong and the market says to you - weak-willed loser. Every day you lose money in the market, and you think you could make money.