Surf's Special Situation Journal
- Thread starter marketsurfer
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I think he's mainly a writer and marketer, he just trades as a hobby. Makes sense that his mentality for trading isn't all that refined yet.
Quote from marketsurfer:
tuned positive on CL trade, gonna ride this to (hopefully) best trade of the year:
One of the ways a trader gets run over is by getting attached to a trade. There is no marriage in trading - only passing friendships. It's not like investing where you can plot a long and interesting life together. We are opportunists: speculators. Cold, calculating hit men (and women) who reserve our emotional attachments for family and football teams.
It a set up doesn't work immediately as PLANNED - we kill it without fear or favor. When we hit a big run, it's not worth commenting on. It is part of the job - that's all. When we go from a bad loss to break even and we get a flicker of excitement when we mismanaged the trade in the first place, Elders warning comes into mind. A spark of emotion shows an immature trader with attachments he shouldn't have. It's not a flaw: it's a life threatening weakness that has to be drilled out of our experience.
Trading and making a fortune via speculation are two separate things.
I make no claims about my performance. I win some, I lose some and am forever trying to educate myself on the market mistress.
Somethings, like the failure of TA ( in most cases ) is just simply very clear and obvious to me. Everyone on line claims to have some great revolutionary system---- clearly this can't be the case. Yeah, some TA'ers eek out a living using money management tactics and a large account, others its just a hobby, but there are no hyper successful traders who use TA.
surf
Somethings, like the failure of TA ( in most cases ) is just simply very clear and obvious to me. Everyone on line claims to have some great revolutionary system---- clearly this can't be the case. Yeah, some TA'ers eek out a living using money management tactics and a large account, others its just a hobby, but there are no hyper successful traders who use TA.
surf
To make money trading we can't have dismissive opinions that ignore the evidence. It sets us up for failure because it's just pride talking and we get blindsided by reality.
I and others have given many examples of traders who have made their fortunes from TA. In fact Wyckoff was one of the first (he died a very rich man) and I've demonstrated a little of his method calling the opposite direction to your trades.
Mark Minervini is a recent example http://minervini.com/bio.php
as I said, I've given many other examples but your head must be stuck in those price drivers of yours
Obstinate denial in the face of clear evidence is not a success trait.
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