Why do traders find it difficult to make money?
- Thread starter Waylen
- Start date
fX has PA too! Lol
I forgot to label the MTR. It is HL MTR (higher low major trend reversal) because the test did not get down to the low of the original trend before the reversal of 3 legs began. Sometimes you get a lower low major trend reversal. Some the test reaches the low, almost tick for tick and then reverses.
Conversely, if the original trend is bullish and the reversal bearish you can get a HH MTR or a LH MTR.
Conversely, if the original trend is bullish and the reversal bearish you can get a HH MTR or a LH MTR.
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I’m not interested at all, I’m just concerned that you’re teaching others PA while you’re not able to properly read the PA yourself even after the fact, and therefore you’re actually harming the newbies.
Seriously, your PA understanding and reading is really bad. Typical Al Brooks’ inability to see the forest for the trees. Put your ego aside and look (from a detached perspective) at the chart that I’ve corrected for you, and you’ll see how flawed your trade logic and PA reading is.
Also, you claiming that a professional trader would have been “wrong” (based on your "hindsight bias" "entry bar”) is a ridiculous statement because trading is NOT about the outcome of a single trade (being wrong/vs right), but rather about focusing on the process and using trade logic. Any intermediate trader would tell you that you’re suffering from success/failure attribution bias (i.e., attributing your success to your “skill” and your failures to bad luck).
I’m not having a go at you, it’s just that your PA reading (even after the fact) sucks, which would be OK, but the problem is that you’re contaminating the minds of others.
It reminds me of the saying “In the land of the blind, the one-eyed man is king.”
Well I guess my flawed logic worked out pretty good on that chart. The three trades I actually took on my platform and so indicated by the platform worked just fine and were profitable scalps and the 4th trade (which I didn’t take) but which YOU said was a bad call actually would have worked out just fine. BTW when I made that 4th trade statement I did it while data was live. It was made right at the time of the session when those last bars were in play. There was no hindsight about other than the what is on the chart and the time that lapsed from the call until I annotated and posted the chart. So, you brought it into question. Since you did not go back to see what happened, I did. I went back and printed out a chart showing that it was indeed a good call. I did not know it actually made it up to near top of the channel until I checked AFTER you brought the call into question.
As far as hindsight. Those trades taken were done by my platform. Not something I somehow drew in and somehow placed on the chart. However, to annotate the chart and then post it sure, that has to be after the fact. How can I annotate, draw, explain and post something that doesn’t exist?
As far as ego. Maybe you should loosen up a bit your own ego. I was right and you were wrong. That is a fact. And yes we all know you can’t judge one’s trading success by A Trade. Nevertheless, you were judging A trading call I annotated on my chart for myself and YOU were the one that was wrong a A call. On THAT call.
As far as newbies are you helping them? If so, how and where?
I am just relating how I trade. No one has to trade that way. And I am not recommending anyone trade the way I do. And I am not a vendor. Maybe something I say, others will find useful, but even then that is their decision. I don’t tell people “how” to trade but I do show “how” I trade.
Isn’t that what ET is about? Thoughts on trading and discussions on how and why one trades. I am sorry you find my sharing repulsive. I would suggest you not read any more of my posts.
You probably, especially, don’t like the averaging down bit. Well I do it but I am not telling others to do it. LOL.
In the end whose logic is flawed? Look again at my chart. Who was right and who was wrong?
You might want to post a few of your charts to help the newbies out if that is your goal. Or to protect them? Maybe you have and I just have not seen them. It would be nice of you to post a few with trades on them showing how you trade. Of course we understand any charts you post will have to be “after the fact”. You can’t post a chart that doesn’t yet exist! But if you let your platform mark your trades that you took on that chart that will suffice for a lot of us. But for some even that is not enough.
But I suspect you won’t because you may want to “guard” your secret. I have no secrets and no secret sauces. I just trade PA. So whatever it does I try to capitalize on that. I receive no monetary benefit from taking the time and work to annotate and show how I trade. I am not trying to contaminate anyones mind. Please push thought out of your mind. Why would I do that?
I think most all of us are adults here and can make our own minds up.
Happy trading!
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Sorry to disappoint you, I had a good week.
More importantly, is it too late for your mum to get an abortion?
Dude, you missed the gist of my post, and yet again you are feeding your own ego and are sidestepping the real issue that the outcome of (after the fact) trades has nothing to do being right/wrong.
Your “explanation” is equivalent of standing on the edge of the ocean with a lunatic who sublimely smiles as he points to the horizon and says, “Look at the flat line out yonder and behold how I have proven that the world is flat!”
Anyway, good luck to those learning from you.
Lol you are a bit hilarious. And not nice. What a terrible comment to say to hawaiianiceberg. Is that indicative of good character? Especially, after he just asked a simple question which apparently set you off. IMO you don’t need to be dishing out talk about Ego.
Understand, being right or wrong is what affects your bank account. Wrong can send you to the bank to borrow instead of to deposit. Trading is about making money and you can’t make money being wrong. You have to be right. At least enough of times to pull you out of your wrongs!
Why would anyone study to learn PA or any other trading strategies? They are trying to make money. And you cannot make money being wrong. Whether you recognize it or not trading does have skill involved. Skill reading PA. Skill in employing TA. Skill in execution. Skill in the psychological aspect of trading. It certainly is not about just being lucky.
I see you have recently joined (less than 24 months) and have made a few posts (less than 400). I glanced at a few and it appears to me that few have any substancial information in them that would be of use to trading, IMO. And it appears many are disparaging to others. Just like your explanation above of my explanation!
I did find a post where you said you bounced back and forth between option spreads and FX. That you have not been able to make option spreads work for you but you can make FX work. It appears you are still finding your own way. Good luck! You may need it.
BTW it would be lovely to see charts where you made trades that your platform makes the posts on them on the chart. Followed by giving explanations of those trades. Wrong or right! Wrong won’t make money but wrong has lessons to be learned embedded in it. So what do you say? Gonna post a few?
Over and out PPC.
Here is a little bit of EGO:
I was right. You were wrong. I took the opposite side of your losing trade (if you even took it). I say this because connected to your PPC icon or whatever is the line “the opposite side of your losing trade” ROFLMAO Do you get the irony?
Adios PPC
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It is ridiculous to say we as traders are not trying to figure out (by whatever means..TA..PA..other some other strange methods) what price will likely do next. Of course we are trying to “predict” right or wrong. At least predict right enough of times to make some $$$.
Furthermore, is makes no sense to say “I don’t predict, I react.” My question would then be: what will you do with that reaction of yours? I would submit you will take what the market showed and react by taking a stance on future movement.
Of course, we are all trying to predict (even if we do so like the “modus operandi” of SML …clik and guess) and we are all reacting and we all have the goal to make some $$$$.
And we all want to be right…right? Or do we enjoy being wrong?
And adding to a losing position IS averaging down regardless if you call it position cost averaging…scaling in…or whatever. The truth is: one’s position IS losing and one is adding to that losing position. Attempting to smooth the concept over semantically doesn’t change the nature of the action.
Furthermore, is makes no sense to say “I don’t predict, I react.” My question would then be: what will you do with that reaction of yours? I would submit you will take what the market showed and react by taking a stance on future movement.
Of course, we are all trying to predict (even if we do so like the “modus operandi” of SML …clik and guess) and we are all reacting and we all have the goal to make some $$$$.
And we all want to be right…right? Or do we enjoy being wrong?
And adding to a losing position IS averaging down regardless if you call it position cost averaging…scaling in…or whatever. The truth is: one’s position IS losing and one is adding to that losing position. Attempting to smooth the concept over semantically doesn’t change the nature of the action.
Metaphorically speaking, you missed the (PA) red light, you drove through the intersection, you were lucky (with your hindsight bias) that you were not wiped off of the road by a semi-trailer, and then you are bragging that those drivers who saw the red light and stopped were wrong !!! It tells us a lot about your “logic”. It becomes impossible to have a rational conversations with people like you who constantly sidestep the real issue.
Regarding me bouncing back and forth between option spreads and FX. You’re twisting the facts again, I struggled with the time zone difference and sleep deprivation, NOT with making money in options.
You remind me of politicians, they just like you are good at twisting the facts and then smoothly delivering weather reports instead to replying to “what time it is?”.
Regarding your buddy @HawaiianIceberg, you’re making wrong assumptions again, nothing set me off, I simply asked him a simple question just like he did (so he can have a taste of his own medicine).
See you, I have better things to do with my time