My guess as to why traders fail

Quote from shark:


I know most of the people on this site can read a chart like a gypsy can read my palm, but I like a practical approach to these things.
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You mean like an e-mail service that lets you know what the stocks are going to do before they do it?:D :D :D

Let me know if you find one that works. I see them advertised but I have my doubts.
 
Quote from deaddog:

You mean like an e-mail service that lets you know what the stocks are going to do before they do it?:D :D :D

Let me know if you find one that works. I see them advertised but I have my doubts.
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Oh sweet I didn't know they had those, ima get one.
 
Quote from kloplop:

Jack Hershey has a tax lien against him for unpaid taxes to the tune of $82,000 that was filed in 2006. If you go to Maricopa County's recorder web site (http://recorder.maricopa.gov/recdocdata/) and type into the Recording Number fields, the following number: 2006 1575958 and click "search" you will be able to see the recorded document.

A background investigation also found that he has no real assets (in terms of real-estate) and does not sit on the board of any company... in fact he is broke and in debt... evidence also shows that Jack has a few failed marriages behind him where he has left monies owed in the split ups. He currently resides in a very modest house owned by his latest partner and lives off her income.

This man has never made a cent trading, that much is obvious.
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LOLOLOLOLOLOLOLOL
 
Quote from jack hershey:

snip...

Try to do some annotating of volume and price. See if you can see that the markets lead the news.

lets say you do get into figuring out this or that. If you do you can see the three moves of the market during news. By working through these tasks yo get to the place where you undrstand that the market leads the news.

snip...
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Jack, how do three moves play out before, prior and after some news or report? I guess you use OTR and DOM to "read" the signals in this period which would probably last for 20 minutes. Is it fun to ride the roller coaster? :D
 
Quote from shark:


Price action trading seems simple enough until one has to take into account the 500 different things that just happened in the span of 15 minutes.
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Shark,

True there are multiple variables involved in the indicators many of us know as price. As a trader, you are trading the sentiment of traders. You are trading what the traders trade... and their reaction to news. News itself does not have an actual price measurement... I believe. Everything does gets factored and everything is correct. News itself is only 1 variable, and it's probably true your brain does not have the capacity to input every news bit that comes out around the globe in the 24-hour global markets.

That's how I think about it...
 
Quote from NoDoji:

Since I stopped trying to pick tops and bottoms, and instead started buying higher lows, selling lower highs, and (gasp!) buying at or above the day's high, and selling at or below the day's low, I haven't had a losing day.

I've had losing trades, but they are few and they are small as a result of how close you can place stops when you trade with the trend.
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How long has it been since you haven't had a losing day?
 
Far too few traders know the difference between overbought/sold and strong/weak..........

This is vital for staying in both winning trades and exiting losing trades.......
 
if you can not determine what will happen, then do not do it. it is a gambling.
I do believe the market's unpredictable characteristic (some times) creates lots of confusions and illusions. but in some time, the market's move is very predictable. of course, to distinguish the inpredictable from the predictable is hard.
in jessise livemore's book, I read a story about a trader and a tipster. tipster tipped the trader about some big guy buy in a particular stock, the trader first stunned the tipster, he dumped 10k shares, while not buy 10kshares. why? the trader wants to know there do be someone there big enough to buy, he used SELL 10kshares to exam the market's strength and find out the answer.
most people here just buy after he heard the tipster's tips even sit here or go to chat room to seek tips. how can they make money?




Quote from shark:

Let's move away from the whole psychology motivation blah blah. Practically, my point was that the market makes it's moves very difficult to determine, due to the sheer amount of stuff that's happening.
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Traders fail because the market is perfectly competitive, therefore unpredictable and random, and they are trading noise. It's the same as playing roulette - no amount of discipline, planning, strategy, money management or emotional control can help you make money in the long run.
 
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