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Exactly what I was going to say. Glad I read yours first :)

Quote from cornix:

That way of analysis is an illusion in my view, because early entry doesn't mean 5M signal happens at all.
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So this is based on PRICE and TIME, being combined with your PD system it sounds like.

Quote from marketsurfer:

During my TA days, we did extensive testing on how to verify a break out being able to carry through to profits-- and 3 minutes was the optimal number-- certainly not a guarantee, but 3 minutes allowed for the catching of profit without letting too much get away, in the case of an actual break out or break down-- note how these channel lines are now acting--- its uncanny!

surf
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Quote from R. Raskolnikov:

So this is based on PRICE and TIME, being combined with your PD system it sounds like.
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Yes, it is. I still don't "believe" in charts as a sole trading technique, but in case you ( plural ) haven't figured out-- some of my anti TA material is just shctick and theater--- the wise ones here on elite already know this,as was revealed in a post or two......

surf:eek:
 
I realized long ago the inconsistencies in what you were saying with regards to your method and TA. I was just playing along with you. :D

PS Have you done your 10 pushups yet?

Quote from marketsurfer:

Yes, it is. I still don't "believe" in charts as a sole trading technique, but in case you ( plural ) haven't figured out-- some of my anti TA material is just shctick and theater--- the wise ones here on elite already know this,as was revealed in a post or two......

surf:eek:
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Quote from R. Raskolnikov:

I realized long ago the inconsistencies in what you were saying with regards to your method and TA. I was just playing along with you. :D

PS Have you done your 10 pushups yet?
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LOL, yeah, I hope that most caught on-----

Yes, 10 push ups completed on a yoga mat.

surf
 
Quote from marketsurfer:

Bear flags and the persistance of Gold's support---

Per the bear flag TA indicator, we are on an extended 8th flag that is signaling an extended down wave once again--

http://finance.yahoo.com/news/does-gold-wings-technical-indicator-150000874.html
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Not sure if anyone can relate to this.

One thing I am trying to improve is to become far more detached to a given trade idea. I often spend a lot of time trying to find a perfect trade idea and entry. And, traditionally, I have despised losing, even small amounts, even though this is a cost of doing business.

This discussion of shorting gold is a great example of how my attachment and bias leads to unnecessary stress. So what if a trade idea doesn't work out? The way I am trying to approach my trading is to be able and willing to enter a trade randomly with a pre-determined stop loss, and not care one way or another whether the trade works or not. Naturally, this is intimately tied into one's risk management and position sizing plan.

In practice, I will not actually trade this way (random entry and completely hands off with automatic execution of all stop loss orders), but I believe having such a mentality (not being attached to the bias or outcome of a 'prediction') will improve my trading greatly. And, removing bias will help me to better accept being wrong about predicting a direction and possibly reversing into a profitable trade at important inflection points.

Anyway, sorry to hijack your thread. I just wanted to share some of my current thoughts applicable to my own trading. I do realize other people trade differently, whether on fundamentals or moon phases, or what have you, and so the above might be inapplicable or even detrimental to such an approach. Thus, YMMV.
 
Quote from marketsurfer:

LOL, yeah, I hope that most caught on-----

Yes, 10 push ups completed on a yoga mat.

surf
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If you can do 10 push ups when out of shape, then you will be fine. With the appropriate effort, you will absolutely see quick improvements and meet your goals.
 
Quote from murrica:

If you can do 10 push ups when out of shape, then you will be fine. With the appropriate effort, you will absolutely see quick improvements and meet your goals.
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Thanks, I can probalbly do 15 if I push it-- but starting with 10 and plan on doing 10/day for next week or so, then slowly increase.
 
Quote from murrica:

Not sure if anyone can relate to this.

One thing I am trying to improve is to become far more detached to a given trade idea. I often spend a lot of time trying to find a perfect trade idea and entry. And, traditionally, I have despised losing, even small amounts, even though this is a cost of doing business.

This discussion of shorting gold is a great example of how my attachment and bias leads to unnecessary stress. So what if a trade idea doesn't work out? The way I am trying to approach my trading is to be able and willing to enter a trade randomly with a pre-determined stop loss, and not care one way or another whether the trade works or not. Naturally, this is intimately tied into one's risk management and position sizing plan.

In practice, I will not actually trade this way (random entry and completely hands off with automatic execution of all stop loss orders), but I believe having such a mentality (not being attached to the bias or outcome of a 'prediction') will improve my trading greatly. And, removing bias will help me to better accept being wrong about predicting a direction and possibly reversing into a profitable trade at important inflection points.

Anyway, sorry to hijack your thread. I just wanted to share some of my current thoughts applicable to my own trading. I do realize other people trade differently, whether on fundamentals or moon phases, or what have you, and so the above might be inapplicable or even detrimental to such an approach. Thus, YMMV.
More...

No hijacking-- i apprieciate the contribution--- i think this is the difference between a trader and a speculator-- a speculator needs to believe in his position, not blind faith, but belief built on research wheras a trader has no belief in market direction but rather tries to catch moves both ways..... surf
 
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