What do you guys do when you're not trading?

victorycountry · Oct 30, 2016

profitlocker said:
Statistics and price action work, but difficult to implement. It takes time.

What's the definition of price action you're referring to? If you knew it then you wouldn't probably say that it's difficult to implement. Market is simple and it's driven by two things - market liquidity and volatility. How many traders know about it? probably less than 5%. (I know only Jack Heysey, Ex-ET member, has talked about similar concept on ET before). If you can't get out of the commercial trading books, then you'll never be able to beat the market. Those books are simply unproven. If they knew the market so well, why would they want to share it with others, seriously. Just common sense. Anyway, I'll stop here because it's off the topic.

FreakofNature · Oct 30, 2016

victorycountry said:
What's the definition of price action you're referring to? If you knew it then you wouldn't probably say that it's difficult to implement. Market is simple and it's driven by two things - market liquidity and volatility. How many traders know about it? probably less than 5%. (I know only Jack Heysey, Ex-ET member, has talked about similar concept on ET before). If you can't get out of the commercial trading books, then you'll never be able to beat the market. Those books are simply unproven. If they knew the market so well, why would they want to share it with others, seriously. Just common sense. Anyway, I'll stop here because it's off the topic.

Jack Hershey died, possibly obfuscating to higher beings as we speak.

profitlocker · Oct 30, 2016

victorycountry said:
What's the definition of price action you're referring to? If you knew it then you wouldn't probably say that it's difficult to implement.

The price action could be based on anything (time bar(s), pattern, indicator) that's been tested to have decent forecasting capability. The difficulty lies in trying to contour the methodology to the events and volatility cycles, not to mention regime selection, viable execution logic, and the backward-forward analysis from multiple angles on data which needs to be obtained manually.

thescalpmaster · Oct 30, 2016

Come on guys.

Why are you arguing about price action and other stuff? Let's stick to the topic!!!!!!

I've also posted the same question in other forums and got some interesting answers. Will post links pretty soon.

ET180 · Oct 30, 2016

syswizard said:
Oh I love this post...and it is so obvious on "Undercover Boss"....
where people making 8 bucks an hour make the owners who rake in about 800 bucks an hour look foolish and incompetent.

I'm all for capitalism, but I don't think our present system is any reflection of that.
Some has gone awry. I think it's caused by big government and big corps taking control...leaving little left for the small frys.

100:1 ? That's just a little crazy IMHO.

Undercover boss always makes the boss looks foolish because that's what the audience wants to see. Usually, it's done by asking the boss to do some simple task that the employee does hundreds of times every day for the past 20 years. Sure, if I only had to do one or three tasks repetitively tens or hundreds of times per day, everyday...and if it's just slightly too complicated for a robot to do it...yet...then I bet I could make someone who makes more than me look foolish when doing it for the first time too.

Handle123 · Oct 30, 2016

In the beginning, once I wised up to just trade 2 markets and both using the same method, got good at YoYo, played ping pong against the wall-wall usually won, I eventually made over twenty yarn blankets, learned how to make knives out of wood files and use antlers as handles(took laptops out to the garage), tried to learn piano, exercise equipment. But when I switched to one minute charts, cut back on time of trading and increased size and thankfully-now automated. More time for ping pong.

vanzandt · Oct 30, 2016

Handle123 said:
In the beginning, once I wised up to just trade 2 markets and both using the same method, got good at YoYo, played ping pong against the wall-wall usually won, I eventually made over twenty yarn blankets, learned how to make knives out of wood files and use antlers as handles(took laptops out to the garage), tried to learn piano, exercise equipment. But when I switched to one minute charts, cut back on time of trading and increased size and thankfully-now automated. More time for ping pong.

Handle... many people "try" to learn piano. Thats why most give up. Someone told me 40 years ago, and I never forgot it...

"You don't learn the piano, you play the piano".

Its pretty deep, but its true. At least for blues and rock. Jerry Lee Lewis never had a lesson.

Ping pong and yarn blankets huh? hahaah.... you the man H123.

Visaria · Oct 30, 2016

thescalpmaster said:
What do you guys do while you're not trading(I mean waiting for a setup)? Give me some ideas to spend my free time.

I work on myself, to better myself mentally and physically.

I do this by:

- writing notes on whatever comes into my head.

- reading books and articles.

- working on money management

- training almost everyday in the gym.

- eating properly

- meditating

- napping

DHOHHI · Oct 30, 2016

I bike and/or run most every day, either pre-market or mid day when things are slow.

d08 · Oct 30, 2016

DHOHHI said:
I bike and/or run most every day, either pre-market or mid day when things are slow.

I'm jealous of this. Biking is so much fun, I used to do it daily in the 4 months of the year that allowed it. Living somewhere where you can't bike, that's a huge downside.