my personal thoughts after 20 years of trading

Humpy said:
he ones that can't aren't worth listening to.
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i have benefited hugely from whoever has had the mood to explain or expound their method even if he has failed:at least we learn what is the rubbish at worst.Often there is always something we can salvage from the wreck of a method
 
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Now that is strange. From your first post I got the distinct impression that you had failed after 20 years of trading. I quote what you wrote.

"i started out like most or many traders,by trying to study market movements, to make 'sense' of them.but after 20 years i have to say that i am no nearer to this goal."

But now less than a month later you seem to be saying the opposite.
 
Humpy said:
Now that is strange.
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I have dispensed with ALL indicators, not even a moving average,and i am trading naked:within 4-5 days of trading and losing i discovered the market structure that has made me profitable.

if you use indicators,trend lines or even order flow that distracts you from the market action and structure.

i have been educating myself to find a system that suits me but failing in that.

there are many systems which are made to work by those who have the temperament;i gave you the example of pro who used a moving average cross over to trade profitably for 25 years and is probably still doing it.
twenty years back i had a goal,a destination, which i had thought i was not near to but it appears in realty i was very close and now i have reached.
it is like the moving average system,and no secret, but i have found after all these years how to know when the market changes from trend to range and vice versa.
this may seem obvious to many but that only was missing in knowledge and it has made me profitable ,the way i has targeted 20 years back: if you want to be very good, it takes time.
if the destination is far, you just have to travel for longer: others will say you have failed, that you have not reached; but they do not know where i want to go.
ultimately all this has to show up....in your trading account.
 
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after 20 years of study,of searching for the treasure of success,my search has ended.

A treasure hunter searched for a sunken ship for 25 years before finding it.
 
padutrader said:
after 20 years of study,of searching for the treasure of success,my search has ended.

A treasure hunter searched for a sunken ship for 25 years before finding it.
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Congratulations.

What was your turning point at the end ? Did you journal your trades to learn from them what went right and wrong?

What price action strategy have you been using/starting to use: trend-lines/candlesticks, support/resistance ? What markets are you trading ?
 
padutrader said:
i too, and no doubt thousands or millions of others, have had similar, if not identical, experiences.
There can be no doubt that the rubbish has to be learn't first: a child does not value a diamond because he has not seen the other rubbish.

i think Livermore Gann Elliot were better than most, if not they would not be famous.But you may not have found their methods suited to you:if not why did not Gann use Elliot wave and Livermore not use Gann? Why did they spend considerable time and effort developing their method for which they became infamous?

But the sheer irony of this, is that i know there are pros using the same ideas you have described as BS and making a good living put of it! I have read of pro who has traded a moving average cross over system all his life,for 25 years.
It all boils down to how good a trader do you want to be: do you want just to make money and make a good living? Nothing wrong with it.
Just how good do you want to be? And how much time and effort are you willing to expend to go the extra distance?
My goal ten years back was not to just day trade,not just be profitable but to be the best day trader in the world.i am getting there and when i get there it is very easy to prove that you are THE best: in trading it is all black and red.
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All the best, dear Padutrader! Can't wait to see you number one! Then you are going to change your avatar back on Trader God, yes? It was so nice to speak with Him, in his trading reincarnation, so directly on ET, lol!
 
Onyx said:
Congratulations.

What was your turning point at the end ? Did you journal your trades to learn from them what went right and wrong?

What price action strategy have you been using/starting to use: trend-lines/candlesticks, support/resistance ? What markets are you trading ?
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i trade only eurusd mainly rarely usdjpy
candle sticks everyone uses them....
i have tried everything in the last ten years from price action to elliot to fib to Demark,Hansen and a few more like Damir Capri etc
finally i cleaned everything only naked chart and within 3-4 days started making money.Only two things,buy low sell high or buy high sell higher and if you watch the charts long enough without any distraction you will understand which one.And that is a huge advantage because you can then search for a set up to enter in the correct direction
trading is simple do not complicate with the wrong type of inputs.
how does a child learn a language; he hears it has no one explain it or teach.
in the same way watch the charts for long enough and you too will learn their language
 
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