what other concept to you need apart from knowing the markets are manipulated?
do you really need risk and reward.
the only risk in the market is thinking they cannot be manipulated
Rewind Back 15 Years
- Thread starter padutrader
- Start date
do you really need risk and reward.
the only risk in the market is thinking they cannot be manipulated
12 years back they said markets were manipulated....the minute I heard that I took up day trading.
but I started reading books and I am fascinated by knowledge so I got taken down the garden path.
They need you to take the other side of their transaction.....
that is all you need to know to trade
but I started reading books and I am fascinated by knowledge so I got taken down the garden path.
They need you to take the other side of their transaction.....
that is all you need to know to trade
from my practice continuous trading, which i believe is the only way to expertise and eventually profitability.....i have learnt only trade when it is clear what the market is doing....when the market is clear what it is doing...and do not try to solve the problem/mystery of the market.
it is alright for a novice to try to solve riddles but after a point it is only about how much money you make....
it is alright for a novice to try to solve riddles but after a point it is only about how much money you make....
it is important to think your way to a trade and not go by instinct..instinct can never suggest targets or stops or
i do not believe there are secrets in trading....because there is o much in the implementation and every situation is so subjective...
what the market does is to test every level twice....whether it is a trend line a high or a low or S/R it will test ALL twice...
which is why if you enter on the first test of support,when it appears to hold, the market will make a second test of the same support,and trigger your stop.this is not a run...it is what market does.
this second test may happen soon or later. if it happens soon then the market will after testing the above resistance ,make yet another third test of the support.
if the trend line drawn from the lows of the first and second test is sloping down,then it is likely that it will break the low made by the second test and a third low will be made..
and then it does the same thing as above.
this is what the market does and if you want to make any strategy or system it has to make adequate compensation for this quirk or requirement of the market.
this will help you set ideal stops which will not keep triggering and make you frustrated and finally bankrupt.
if you set a stop without allowing for this movement it will not be ideal,it will trigger and then the market will go in your direction.you will feel the market is personally against you but the reality is it does not care about you,any more than the bullet train cares about if you get in it's way.
again this is not advice but if it helps you then help someone else...give some money to charity..because giving advice to a beginner is not going to work:they will scoff at it and refuse to take it.
it is not easy to see this movement in live markets or even historical charts...it took me 12 years....to see it....and even today i am trying to trade it
but everytime i try an idiot comes in the way and confuses me....and i am trying to fight that idiot.
that idiot is of course ME
what the market does is to test every level twice....whether it is a trend line a high or a low or S/R it will test ALL twice...
which is why if you enter on the first test of support,when it appears to hold, the market will make a second test of the same support,and trigger your stop.this is not a run...it is what market does.
this second test may happen soon or later. if it happens soon then the market will after testing the above resistance ,make yet another third test of the support.
if the trend line drawn from the lows of the first and second test is sloping down,then it is likely that it will break the low made by the second test and a third low will be made..
and then it does the same thing as above.
this is what the market does and if you want to make any strategy or system it has to make adequate compensation for this quirk or requirement of the market.
this will help you set ideal stops which will not keep triggering and make you frustrated and finally bankrupt.
if you set a stop without allowing for this movement it will not be ideal,it will trigger and then the market will go in your direction.you will feel the market is personally against you but the reality is it does not care about you,any more than the bullet train cares about if you get in it's way.
again this is not advice but if it helps you then help someone else...give some money to charity..because giving advice to a beginner is not going to work:they will scoff at it and refuse to take it.
it is not easy to see this movement in live markets or even historical charts...it took me 12 years....to see it....and even today i am trying to trade it
but everytime i try an idiot comes in the way and confuses me....and i am trying to fight that idiot.
that idiot is of course ME
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A good trader is of course profitable.
but a great trader trades both sides and is more than profitable in monetary terms he is profitable in TIME terms:HE MAKES MOST EFFICIENT USE OF HIS KNOWLEDGE TIME AND CAPITAL.
because as Jessie Livermore said: ' there is no bull side and there is no bear side; there is only the right side'
trade smart, trade great, be humble.
you may be arrogant when you do not trade smart,do not trade great......like i was doing.
i did that just to motivate myself not to troll or irritate others.
but I owe you all an apology and i give it in all humility.
hope you accept it.
but a great trader trades both sides and is more than profitable in monetary terms he is profitable in TIME terms:HE MAKES MOST EFFICIENT USE OF HIS KNOWLEDGE TIME AND CAPITAL.
because as Jessie Livermore said: ' there is no bull side and there is no bear side; there is only the right side'
trade smart, trade great, be humble.
you may be arrogant when you do not trade smart,do not trade great......like i was doing.
i did that just to motivate myself not to troll or irritate others.
but I owe you all an apology and i give it in all humility.
hope you accept it.
plan the trade trade the plan....but even then do not relax,continue to plan be prepared to plan because the market does not stick to a plan
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this test retest is obviously not enough to predict market ...other things like trend ...have to be figured out...but this is relatively easy and is known to even a novice.
but a novice gets frustrated because he knows the trend but the market takes out his stop because he does not know the market will retest every low it makes,sometimes many times.
this is what makes trend following so irritating because just when you think is it is going up [and this also fools a lot of traders to enter there] it will retrace and retest
and it does this so many times that the trader gets the idea it is never going to up but going to go down and this fear and doubt makes the trader get out of his perfectly good trade.
it has happened to me hundreds of times
but a novice gets frustrated because he knows the trend but the market takes out his stop because he does not know the market will retest every low it makes,sometimes many times.
this is what makes trend following so irritating because just when you think is it is going up [and this also fools a lot of traders to enter there] it will retrace and retest
and it does this so many times that the trader gets the idea it is never going to up but going to go down and this fear and doubt makes the trader get out of his perfectly good trade.
it has happened to me hundreds of times
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a lot of people have told me that....
but I do not want to be a trader ,I do not want to be a good trader:
I want to be a great trader
and I am working towards that