Psycology

I agree with candle on this issue.

I believe that a trader must first discover what his/her own personality is ( this is something you have developed over 20+ years or whatever your age before you started trading,) and then find a strategy or style that best suits your personality.

I know a very successful trader ( made a consitent seven figure over the last six years ) that said the most useless indicator is the BB . As you know Tony Oz uses this indicator successfully. I have also noticed that the most viewed threads on this site are the ones tiltled " trading strategies " or similar titles.

IMHO just find out what you are like first. conservative , aggressive , etc experiment with the styles available and use the one that gives you the least inner conflict. whichever one you use will procuce both winners and losers . I know a mechanical trading method that will produce 75% lossers but when you win you win big . My advice , don't trade against yourself.
 
Not that I really needed and anwer but I was hoping to see an education for this board. But I'll give my two cents. During the big up market and big down market trend continuation strategies on short term time frames worked great.

However since the summer I have noticed something different. I am surprised that candle still professes such a strong belief in trends because on just about all the time frames I have looked at we have been range trading. By which I mean once the market realizes that it has tested and failed it frequently rips in the opposite direction leaving nothing but high risk trend continuation type entries.
It has seemed to me that when I am willing to step up to the plate and assume the trend is over I get my fill and get my profit, but that If I waited for a pull back entry in the direction of the new trend it was very risky because that short covering rally or that no bid sell off can really be extended.
I realize you can say that I may have been entering into a trend on the longer time frames but in the past one did have to fade the short term trend to get off good trades. However, today and even yesterday I thought the market was ripe for my old stlye so perhaps the trend candle is now burning.

By the way I did not see an anwer to the question of what is the trend now and how would you set up for it. I thought it was a grooved pitch. I know a few chatroom vendors who would have hit it out of the park.
 
to commisso
(Sorry to all readers for belaboring this point but I must)
As I was driving home in my car I started to laugh because I think you may have been baiting me like a friend of mine who loves the clintons and loves zen.

I realize you were the guy who made the very good S/R post so you obviously understand a good trade when you see it. And yet you post those meaningless words by Tsu in response to my criticism about zen missing the point. As I reread it I realized that he and you were probably just using those words to get a reaction from me like Modern "Art".

A beautiful symphony is beautiful no matter how many people recognize it as so and you could never convince me that it is ugly and Good is not evil. Just as I do not accept a Modern Artist telling me a white canvass is a work of art. I will not accept someone claiming opposites are the same.
 
When the highest type of men hear the Way, with diligence they're able to practice it;

When average men hear the Way, some things they retain and others they lose;

When the lowest type of men hear the Way, they laugh out loud at it.

If they did not laugh at it, it couldn't be regarded as the way.

LAO-TZU
 
Consensus is not the truth, the truth will reveal itself in time.
Appearance can deceive, but deception is short-lived.
Evil is but one(discarded?)side of an infinitely sided Good coin.
Rigel
 
Consensus is not the truth, the truth will reveal itself in time.
More...

The conception of a truth cannot arise without consensus or omniscience.

Evil is but one(discarded?)side of an infinitely sided Good coin.
More...

One step further, there is beyond good and evil.
 
["When the highest type of men hear the Way, with diligence they're able to practice it; "]

[snip]....



"What the superior man seeks is in himself. What the inferior man seeks is in others"

Confucious



nitro
 
Possessing opinions is like possessing fish, assuming one has a fish pond. One has to go fishing and needs some luck-then one has one's own fish, one own's opinions. I am speaking of live opinions, of live fish. Others are satisfied if they own a cabinet of fossils-and in their heads, "convictions."

F. Nietzsche

However, the Way Lao-Tsu speaks of is beyond opinions or convictions.

Tao is not a dogmatic ruler to slap your knuckles with, it is an acceptance of what is.
 
Originally posted by nitro
["When the highest type of men hear the Way, with diligence they're able to practice it; "]

[snip]....

"What the superior man seeks is in himself. What the inferior man seeks is in others"

Confucious
nitro
More...


Here's another Confucious one:
"Man who go to bed with itchy ass, wake up with smelly finger"

Sorry, I couldn't help myself ... hehe :D

On your one above, Nitro, I couldn't agree more... if people stopped looking to others for everything and did much of the work and though themselves, I am convinced that the world would have higher quality traders.

Candle
 
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