Pure Trading
- Thread starter BigPaper
- Start date
this looks like topping action but after being in 2 shorts that didn't work out, it's time to re evaluate? I am a counter trend trader by nature so this trend stuff is hard for me although I am getting better at it. I do have a hard time buying into this and I guess I am protecting the points I have already. I gave the shorts a couple of tries and I am watching this 91-92 area closely for some clues as to whether or not they are finished here & want higher or lower. At this point I will be making decisions on the fly for entries but my levels are in place as stated this AM....95, 99 & 1104
Greetings Again,
I donât know who taught you that philosophy, but in my opinion of 25 years plus trading, I seriously believe you need to reassess your trading situation just a bit. My first question; if youâre going to play like the big boyâs, then you must be prepared to get in when they get in, and you must get out when the big boys get out. Are you financially prepared to get out when the big boys get out? If you are not, then you are not playing their game. You are "playing" and doing something else. Further, how are you able to accurately determine the intentions of the big boys from where you sit? Iâm assuming that you must have some key âinsightâ, technical or otherwise, as to when and where the big boys are about to move? If this is the case, please forgive my honest intrusion, and I will humbly return to the sidelines.
However, if this is not the case, then read on. I personally do not believe that you are properly prepared to trade this market or any other market at the present time. From what I see and read from your words, you are simply not properly prepared or equipped to take money from the market at this time. This is not a game, this is a business, a very serious business. And, I do not see your current approach as businesslike. I have yet to witness any consistently successful trader who did not have a written confirmed Trading Plan. If you are making your trades âwishing, hoping, or prayingâ that the trading Gods will favor your position, then you are a Gambler. If you are entering your trades wondering who the âpatsyâ is, guess who is the âpatsyâ?
The Professional trader only sits at the table when he knows the odds are in his favor. He is nobodyâs Patsy! His Trading Plan specifically points out when to play, and when not to play, in no uncertain terms. The gambler simply sits and plays the table most all the time, hoping, wishing, and praying the odds are in his favor,â¦.just this time. His lack of a viable strategic plan thus insures that he will become a statistic in short order. I ask you, in all honesty, where do you see yourself in the above comparison at this point? That little voice in your head right now knows âtruthâ when he hears it, and you just heard it,â¦.didnât you? Do not fail to heed his warning. You need to go back to square one, and build a viable Trading Plan before you sit at this table again. If your heart is committed, and your desire strong enough, it wonât take that long,â¦relatively speaking.
Just my opinion. Thanks
I donât know who taught you that philosophy, but in my opinion of 25 years plus trading, I seriously believe you need to reassess your trading situation just a bit. My first question; if youâre going to play like the big boyâs, then you must be prepared to get in when they get in, and you must get out when the big boys get out. Are you financially prepared to get out when the big boys get out? If you are not, then you are not playing their game. You are "playing" and doing something else. Further, how are you able to accurately determine the intentions of the big boys from where you sit? Iâm assuming that you must have some key âinsightâ, technical or otherwise, as to when and where the big boys are about to move? If this is the case, please forgive my honest intrusion, and I will humbly return to the sidelines.
However, if this is not the case, then read on. I personally do not believe that you are properly prepared to trade this market or any other market at the present time. From what I see and read from your words, you are simply not properly prepared or equipped to take money from the market at this time. This is not a game, this is a business, a very serious business. And, I do not see your current approach as businesslike. I have yet to witness any consistently successful trader who did not have a written confirmed Trading Plan. If you are making your trades âwishing, hoping, or prayingâ that the trading Gods will favor your position, then you are a Gambler. If you are entering your trades wondering who the âpatsyâ is, guess who is the âpatsyâ?
The Professional trader only sits at the table when he knows the odds are in his favor. He is nobodyâs Patsy! His Trading Plan specifically points out when to play, and when not to play, in no uncertain terms. The gambler simply sits and plays the table most all the time, hoping, wishing, and praying the odds are in his favor,â¦.just this time. His lack of a viable strategic plan thus insures that he will become a statistic in short order. I ask you, in all honesty, where do you see yourself in the above comparison at this point? That little voice in your head right now knows âtruthâ when he hears it, and you just heard it,â¦.didnât you? Do not fail to heed his warning. You need to go back to square one, and build a viable Trading Plan before you sit at this table again. If your heart is committed, and your desire strong enough, it wonât take that long,â¦relatively speaking.
Just my opinion. Thanks
With all do respect, I will try and be polite considering I didn't start this thread asking for opinions from other traders. Before you tell someone to reassess their situation because he/she doesn't trade like you do, you might want to understand what someone else sees. After 2 days of posting I hardly feel that is fair of you to say.
Do I have a written Biz plan??... yes I do but it is something that everyone NEEDS to write for themselves & my posting here will do more harm then good, imo. You can't trade my biz plan as I wouldn't expect to trade yours. I explained the basis of what I do and I guess that seems to simple for you to think that it can possibly work but if you read my first post...Keep It Simple Stupid "KISS" is what works for me.
Being as I do have an edge...a serious one at that, I will not respond to the remaining portion of your post as you suggested. Maybe you think that trading is all about indicators and fib stuff....I really don't know but I got sucked into the software vortex of colorful indicators and mathematical BS and it didn't work consistently for me. You seem to think that price and volume is not good enough info to trade with and that's fine.
If I want to be prepared to trade with the "big boys" as you put it, whats the difference if I'm trading with 1 car or 100 cars?? why do I need to be prepared for that?? I would need to be financially prepared if I was trading against the "big boys", no?? I have my levels and I understand that if I milk a trade for all it's worth I might not be able to enter and exit with them so I scale in/out and I trade in front of the levels.
If this is a post of concern I appreciate it....if this is a post just to show how much experience and knowledge you have then that's great for you but I don't appreciate that.
I didn't start this thread posting my resume & touting all my experience.At the suggestion of a friend, I just wanted to make some posts and/or keep a live journal as a way of giving back. If someone has an interest and picks up anything from it then that's great. I've been doing this for 2 days....at a sacrifice to my trading performance by the way & I'm already getting criticized by someone who knows nothing about me or what I do & to make matters worse....I didn't even have to ask.
Listen, I don't want to argue with you & as a matter of fact I won't lol, but I didn't put all sorts of rules as to what can/can't be discussed on my first post like some others in ET do but maybe I should have
I've been doing this for over 15 years...electronically for over 10 yrs & the transition is hard for many people once they go electronic. If you started out trading remotely like many do, they probably don't know what the other side looks and feels like, even though it's just an auction.....like EVERYTHING else in the world.
Thanks and I hope I made myself clear w/o offending you as you have tried to offended me....not that I really give a shit lol
Greetings Again,
It was not my intent to offend you or impress you. Because I too could give a "sh**" as well. If what you're currently doing works for you, then by all means, disregard anything I have said previously. However, what I saw on your blog, in my opinion and experience did not compute. And I voiced my opinion. No harm intended, but if anything I have previously said upset you or your psychcosocials, then you have my humble apologies, and your blog shall not hear from me again. Good luck in your trading endeavor.
Thanks
It was not my intent to offend you or impress you. Because I too could give a "sh**" as well. If what you're currently doing works for you, then by all means, disregard anything I have said previously. However, what I saw on your blog, in my opinion and experience did not compute. And I voiced my opinion. No harm intended, but if anything I have previously said upset you or your psychcosocials, then you have my humble apologies, and your blog shall not hear from me again. Good luck in your trading endeavor.
Thanks
Quote from KDASFTG:
Greetings Again,
It was not my intent to offend you or impress you. Because I too could give a "sh**" as well. If what you're currently doing works for you, then by all means, disregard anything I have said previously. However, what I saw on your blog, in my opinion and experience did not compute. And I voiced my opinion. No harm intended, but if anything I have previously said upset you or your psychcosocials, then you have my humble apologies, and your blog shall not hear from me again. Good luck in your trading endeavor.
Thanks
What? So if you don't give a shit you wouldn't have said anything in the first place...or.... you did mean to offend me. You can't be half pregnant ya know.
Just because something doesn't compute to you doesn't give you the right to tell others that they are wrong with such conviction. If you are in a short position and I am in a long position at the same time and we both make $$....who's right and who's wrong?? Can't we both be right?? Can't we all just get along??
I don't have any psychosocials and why would you even bring that up, lol. I'm a trader not a baby. If that was really going to offend me then I shouldn't be trading because the mkt has no psycho-anything.
I just wanted to make myself clear.
You can post here as you choose.....or not....it's up to you.
No need for apologies