Why Is The Obvious Not So Obvious?

poland · Jun 29, 2012

Quote from mekanikal:

Yes poland, bogan gave the right site.

I have read various threads here and there with titles like:
1. The obvious one
2. the charts of deception
3. if you want to fail as a trader, study TA
4. how to trade, full stop.
5. market intelligence

Thanks Mekanikal. I will read them all.

bogan22 · Jun 29, 2012

pattern recognition test
Test of Observation, Pattern Recognition and Visual Perception. Have a go.

Look at the equation 5 + 5 + 5 = 550. Obviously it is not correct. Write it down on a piece of paper. To make it correct you may add one straight line to the equation. It can be vertical, horizontal or angled. You cannot place a slash through the equal sign to indicate inequality. The solution is visual not mathematical.

Longer than 15 minutes should cause reconsideration of charting as a solitary medium.

from camron site.

I failed this....

cheers
Bogan22

Mysteron · Jun 30, 2012

Quote from bogan22:

pattern recognition test
Test of Observation, Pattern Recognition and Visual Perception. Have a go.

Look at the equation 5 + 5 + 5 = 550. Obviously it is not correct. Write it down on a piece of paper. To make it correct you may add one straight line to the equation. It can be vertical, horizontal or angled. You cannot place a slash through the equal sign to indicate inequality. The solution is visual not mathematical.

Longer than 15 minutes should cause reconsideration of charting as a solitary medium.

from camron site.

I failed this....

cheers
Bogan22

Just put a line through the equation, to cross it out.

Mysteron · Jun 30, 2012

Quote from The Oracle:

...anyway ZT..no matter what market u trade..there is one OBVIOUS thing that you must know to control ur risk..and make some good money..and NY has told me what it is..but it has never been directly mentioned in this thread..well..as far as i know anyway...

It would be silly to enter a trade if price isn't moving in the same direction as the trade.

mekanikal · Jun 30, 2012

Quote from bogan22:

MK,

I'm with you now. Be sure to look at the archived site, as this was the one TE was referring to at that time. Because I'm downunder I found some interesting local facts out of this site, forgot all about it, I'll read it again. But looks as though it's

Thanks for setting me straight.

TO,

Thanks for charts, still digesting, will be back with questions later.

Cheers
Bogan22

Cool Bogan! I will check out the archived site as well.

mekanikal · Jun 30, 2012

Quote from bogan22:

pattern recognition test
Test of Observation, Pattern Recognition and Visual Perception. Have a go.

Look at the equation 5 + 5 + 5 = 550. Obviously it is not correct. Write it down on a piece of paper. To make it correct you may add one straight line to the equation. It can be vertical, horizontal or angled. You cannot place a slash through the equal sign to indicate inequality. The solution is visual not mathematical.

Longer than 15 minutes should cause reconsideration of charting as a solitary medium.

from camron site.

I failed this....

cheers
Bogan22

Yes, this one stumped me too for a couple of minutes. Then I remembered something which he had mentioned just before - stuff about lines and how brain interprets them. Therein was the clue.

So the answer is to draw a slanted line on one of the plus sign so that it looks like 4 !!!!
Now the equation becomes -
5 + 5 4 5 = 550

mekanikal · Jun 30, 2012

Quote from The Oracle:

now..as a simple exercise..can anyone work out what the fuk TO is talking about here

Whoaaaa holy smokes TO!!

You got the calls at the open after sharp move up. Then it dipped a bit (and that is when your PL went red in the screenshot above

). So not being afraid of the loss, and risk being nothing to begin with (cheap calls) you decided to hold to end of day/expiry to see what transpires.

Lo and behold mib shoots for the moon ending at 14274. So you got roughly
574 X 2.5 = 1435 on first and
674 X 2.5 = 1685 on the second call.

MIB cookie

Quote from The Oracle:
do not forget the famous quote

Is it 'trading is gambling'?

heypa · Jun 30, 2012

It's just a damn puzzle. What does this have to do with trading or pattern recognition?

The Oracle · Jun 30, 2012

Quote from heypa:

It's just a damn puzzle. What does this have to do with trading or pattern recognition?

is trading also not a puzzle to be worked out!

i have just looked up that site..and i must say the first impression is very good..well laid out homepage with no stupid graphics..will look at it tomorrow and see what they are about..who knows..might even learn something about trading..as i know absolutely nothing

http://camron.com.au/home.html

just so that you can see the difference..here is the other end of the scale..the master trainer himself..who only papertrades

notice the stupid graphics splattered all over the homepage..a giveaway for a marketing venture..not at all like the other site

http://www.daytradinguniversity.com/

now..if u want to learn something about trading..and u must be honest with urself..which site will u pick to learn from..and why?

The Oracle · Jun 30, 2012

Quote from mekanikal:

Whoaaaa holy smokes TO!!

You got the calls at the open after sharp move up. Then it dipped a bit (and that is when your PL went red in the screenshot above ). So not being afraid of the loss, and risk being nothing to begin with (cheap calls) you decided to hold to end of day/expiry to see what transpires.

Lo and behold mib shoots for the moon ending at 14274. So you got roughly
574 X 2.5 = 1435 on first and
674 X 2.5 = 1685 on the second call.

MIB cookie

Is it 'trading is gambling'? NO...

TO likes the MIB COOKIES

unfortunately ML..the pizza eaters

expire the options at 09:05 on expiry day..and take the open price as follows..

The settlement price is equal to the value of the FTSE MIB index, calculated on the opening prices of the financial instruments that make up the index recorded on the last day of trading. If the opening price of any financial instrument on the index has not been established by the end of the trading session, Italian Exchange fixes the price in order to establish the value of the index on the basis of the prices recorded in the last session and takes into account any other relevant objective elements available.

none the less..TFF are not greedy..and are always willing to take whatever we are given..so..TO sends a big THANK YOU to Angela Kasner

notice how many buckets of beer she is carrying..and it is not 4

ah..the maths come next

Risk = â¬104.50 incl. commissions
Reward = â¬1105.00
R/R = 1:10.57

Duration = 2 days