The real truth of Trading- Read it once, you will not be Disappointed.

Quote from retaildaytrader:

Believe me, I "get it". Your tired old phrase that I have heard time and time again for the last few decades has been noted and thrown in the book of tired old phrases.

Words and phrases sound good after the fact when all the dust settles...
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I might as well put you on ignore...your belly-aching, pissn'-and-moanin' ain't doing anyone no good.
 
Quote from Scataphagos:

INTUITION? "Gut feel"? Are you nuts? I've known only ONE successful trader who often referred to his "gut"... I think he "went down to the Crossroads", if you know what I mean.
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Soros sold his soul?
 
Quote from Scataphagos:

I might as well put you on ignore...your belly-aching, pissn'-and-moanin' ain't doing anyone no good.

Quote from retaildaytrader:

Believe me, I "get it". Your tired old phrase that I have heard time and time again for the last few decades has been noted and thrown in the book of tired old phrases.

Words and phrases sound good after the fact when all the dust settles...
More...

You know, I've put so many ET idiots on ignore that now ET doesn't offer the entertainment value that it used to. I've thought about putting retaildaytrader on ignore but he is about the only entertainment I have left here. :D
 
Quote from Scataphagos:

Well, perhaps. I wasn't thinking of him, as I don't know him personally.
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He is well known for using intuition in decision making. At least that's what he says.....Check out the neuferhoffer video posted on elite. You can see the dark lord playing tennis with VN. ;)
 
Quote from the1:

Ok Scat, now you know I'm not suggesting intuition is the "only" trait a trader must have.
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My experience is that "intuition"... that is GOOD intuition... is SOOOOO rare, traders best forget all about it. Odds of any one of us having it are SLIMMMMM.... I've been a long-time player, and I don't claim to have it.... and I'm always surprised... astonished, even.... when I run across someone who appears to have it... thus the "Crossroads" reference.

Fortunately, "good intuition" is not a requirement for success in the markets. Observation, logic, deductive reasoning, and stop discipline work and can be learned by anybody... even the HUNDREDS of ET dolts I have on ignore, if they'd only bother... :D
 
Quote from kingfisher3210:

But brother, some of trades which those simple mindless set ups take, a discretionary trader with a good reading of the markets will never ever take.

Good reading of the markets is essential, paramount and imperative for consistent gains. You can employ automatic set ups with a good reading of market so as to combine discretionary and system trading.

The best traders i have met have a real good grasp of market structure collective thinking. They are tuned with the market mindset. The money flow in their account effortlessly.

They have reached the pinnacle in trading which is the intuitive trading- Using right brain intuition to work on trades. If you ask them why they took short or long, they will have hard time in giving reasons for a particular trade except saying possibly getting a feeling this trade can work.
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It is funny how you bring out a key thing that many traders fail to see even though its in all the books and wisedom that they here in ET.

I will take on any one who can challenge me on this.
"Trading is gambling with odds that are better than in a casino"

"Simple set-ups" is just a way to manage risk by limiting number of trades and keeping entris and exits in a familiar pattern what is "highly managable" -- I am not saying this is a WRONG method and neither is "kingfisher3210" saying that in his post.

He is talking about achieving a very high degree of excellence in EXECUTION.
It is saying that YOU can actually CREATE SETUPS out of the market action and not wait for "CERTAIN" setups. Now this is very hard to explain in words (or its just my bad english language knowledge). I will try this with an example. we all have heard about letting the winners run !!! but for how long ?? thats the part that you learn from market action. When would you re-enter the market after a successfull long trade ??? Should you immidiately take a short after you get out of a Long ?
When you look for a "fading set--up" why the hell you not take the run-up? did you missed it coz it was not a text book simple setup.
 
Quote from Millionaire:

Lol, if only KISS applied to trading, everyone would be rich..
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Well said. SMA or pivot point trading is kiss. Does it work day in day out? If it do any one in world would have been millionaire.

If Jesse Livermore was alive today, he would have laughed and cried why traders are not understanding the market structures first.
 
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