My guess as to why traders fail

[jack hershey]

here is the attachment.

 

[TraderZones]

Quote from jack hershey:

here is the attachment.

Jack is improving. This was his charts last year

 

[TraderZones]

Quote from jack hershey:

The three moves are dominant, non dominant and dominant.

Then at that time the market returnes asymptotically to the prior situation to the news.

In the days of telephoning to do trades. yadayada

Sheesh, Jack. Maybe the shrink can cure your impulsive diarrhea of the fingers...

 

[billyjoerob]

So I see two moves, d and non-d. Which is the third?

 

[DrEvil]

I am fairly sure that I am doing things that the majority are not because I don't see them being discussed on ET or elsewhere. This is desirable if you think about it.

 

[NoDoji]

Quote from jack hershey:

today, elsewhere, a peron learning with critical thinking orientation is going through the process of discovery about how the order of events plays out. She took a trade and held it throeugh the dominant. she kept holding until it retraced 50% of her potential profits of the move (the net ws 7dollars a contract). She exited and waited. Then at the end of the retrace she reentered and netted 162 dollars.

She trades from a vertical orientation instead of a horizontal orientation. he took two dominat trades and made money trading in the dominant direction. she gave up profits by holdinf after the dominant endied and and went halfway through the non dominant (50% back from the end of the dominant).

The important lesson to take out of this is when you're trading 1 damn lot and it shows you 4 pts profit, take the money and run, then do it again. The "do it again" worked fine, because I took the money and ran

 

[syswizard]

Quote from Gcapman:


It takes a special trader to turn a small account into a large one

But it **can** be done

Agreed. Tim Sykes proved this.
Then...he went from "special" to "normal"....
and lost it all back.
His is a great example...NOT to follow.
Instead of doing what Tim did:
1) stay humble
2) stay focused
2) stay special

 

[Lojanica]

You can't control direction but you can control risk. Effective markets not efficient. There-in lies the edges. Patterns repeat just like the sun rises and sets. Ebb and flow.

 

[Bolimomo]

Quote from jack hershey:


.....
She trades from a vertical orientation instead of a horizontal orientation. he took two dominat trades and made money trading in the dominant direction. she gave up profits by holdinf after the dominant endied and and went halfway through the non dominant (50% back from the end of the dominant).
....

Jack:

I think I understand what you said about the dominant move and non-dominant move. That makes sense.

But I don't quite understand what's meant by vertical and horizontal orientation. Would you expand that? Vertical does it mean price? Horizontal does it mean time?

 

[Bolimomo]

Quote from syswizard:

Agreed. Tim Sykes proved this.
Then...he went from "special" to "normal"....
and lost it all back.
His is a great example...NOT to follow.
.....

I have heard of Tim Sykes but did not follow him. Did he lose it all back? In trading?