Surf's Special Situation Journal

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Quote from R. Raskolnikov:

He doesn't really want proof. He wants to stick to his preconceived notions of what is or isn't possible. Notice how he keeps avoiding you when you mention this or the TA trader who did well in the combine (AustinP) :D
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Definitely Surf is not interested in revealing the truth, but is interested in scandalous argument... how typical of journalists nowadays. :(
 
Quote from marketsurfer:

Yes, I was a weak hand in the Apple trade--that's why I used stop losses-- folks that test mechanical systems say over and over again that stop losses degrade system performance-- why do you think this is? surf
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Maybe that's the case for them, for me cutting losses short is one of key elements of profitability.
 
Quote from NoDoji:

Massive amount? An experienced price action day trader who trades only one or two setups can average a steady $400/day using no more leverage than a $10K account allows. Do you not consider that a "living"?
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I think some days you can do this, other days you can not. I don't believe its "steady".

Do you truly believe you can make a consistent $400/day on a 10k account by reading price action?


Do you never lose? I think you forgot to consider inevitable losses.

surf
 
Quote from marketsurfer:


Because you need to constantly be depleting your account for living expenses, unless you live like a hermit, of course. which many may, I have no clue. surf
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I'm done with this thread

you really don't get this game.
 
Quote from marketsurfer:

No, man, you are not understanding what I am saying. Clearly, folks with plenty of OPM, institutional level access, edge and leverage can make a fortune trading. I am talking about at home retail guys who start with next to nothing then claim to have built that amount up to the massive amount needed to actually trade for a living while maintaining above unibomber, midwestern living standards from nothing but their day trading over a number of years. I don't believe these folks exist despite the claims-- if they do, there is another income source or personal wealth that actually pays the bills. surf
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Surf,

Regardless of amount of money the trader has, you trash most other methods. That's the part I am talking about. Yes, the 2 lot guys who claim to have made millions are ridiculous...agreed. But my issue with your comments is that TA/Price action trading is useless. Especially since many HUGE traders have made a fortune using it.

Add in the fact that your trading on here has been below average at best....well.....makes your comments that much more ridiculous.
 
Quote from R. Raskolnikov:

He doesn't really want proof. He wants to stick to his preconceived notions of what is or isn't possible. Notice how he keeps avoiding you when you mention this or the TA trader who did well in the combine (AustinP) :D
More...

I think Austin did fantastic-- he certainly put me to shame in performance.

BUT my question is--

Why did he lose his shirt trading soybeans with TA, but did very well with oil? Ever think for that time period, runs after the entry were greater in CL than beans--- it could have easily been reversed therefore I believe his success can be attributed to the instrument and strong money management skills-- had it been TA, beans would not have been losers-- TA clearly failed here-- ask yourself why and you will find the answer that i already know. surf
 
Quote from traderchi128:

Surf,

Regardless of amount of money the trader has, you trash most other methods. That's the part I am talking about. Yes, the 2 lot guys who claim to have made millions are ridiculous...agreed. But my issue with your comments is that TA/Price action trading is useless. Especially since many HUGE traders have made a fortune using it.

Add in the fact that your trading on here has been below average at best....well.....makes your comments that much more ridiculous.
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I don't believe those who claim to make $400 per day consistently on a $10,000 account and almost never lose. Do you believe these kind of claims? surf
 
Quote from marketsurfer:

Yes, I was a weak hand in the Apple trade--that's why I used stop losses-- folks that test mechanical systems say over and over again that stop losses degrade system performance-- why do you think this is? surf
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Stop losses/proper risk control is EXACTLY what seperates great traders from the ones who fail. Look at yourself....if you had any kind of risk mgmt those horrible losses you took (JCP) would have been much less and easily offset when you had a winning trade.

Your above comment belongs in the moron hall of fame.
 
Quote from traderchi128:

Stop losses/proper risk control is EXACTLY what seperates great traders from the ones who fail. Look at yourself....if you had any kind of risk mgmt those horrible losses you took (JCP) would have been much less and easily offset when you had a winning trade.

Your above comment belongs in the moron hall of fame.
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Whoa, for you to say this makes me question whether you know anything at all or are just another ND type pushing product, PMA or trolling the surf report for followers ---

Why don't you argue with these morons:
academic
http://works.bepress.com/bruce_vanstone/15/

TA guru
http://www.thepatternsite.com/CanStopsHurt.html

http://snaptrader.blogspot.ca/2010/10/stops-can-hurt.html
 
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