Amazing how many people are duped on here by a total idiot posting a crappy slogan and a bunch of phony riddles.
Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
It is obvious to me, more experience you have, more dedication to backtesting, more refining of your skills, the better you become. Too many concentrate on getting the most profits and little to no regard to drawdown, losing percentage, breakeven.
Too many think that reading some book is all that is needed, very few books are written by millionaire traders, why give away the nuances that took so long to gather for a lousy few crumbs of royalties in books? If you have a huge ego, donate a ton of money to charity.
Sizing comes down to losing percentages, and reward to risk, and of course huge amounts of backtesting, and even that isn't always enough. Anyone shorting Crude Oil a few years ago starting at $50, unless you had a hedging method with it, you lost heavily cause all the backtesting in the world would not have helped with all time new highs.
Hopefully as one's knowledge expands and the years pass, the greed factor within changes to the other flip of the coin and concentrating ONLY on risk management, getting in perfect is really nice, but even nicer if you understand what you do AFTER you hit the mouse button.
Smooth equity curves equates to steady blood pressure equates to better health. If you want to stay in this game a long time, learn to sit on your hands and wait for perfect signals.
Good Trading All.
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Quote from macattack:
For example a child can look at a chart and see that price is going up. An "experienced" trader on the other hand may look at that same chart and see that his MA's are crossing, and the slow stochastic is below the fast stochastic, and Woodie's CCI is at the zero line, etc, etc, etc.
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And you ask the child whether they would buy or sell and they most likely will choose the obvious (buy) for the obvious reason (because it's going up) and end up with a very good trade. [/QUOTE]
This is brilliant and so obvious to me. FYI I am about as new as they come... this is what I try to do. Where I fail is when I let myself get in my own way.
Quote from macattack:
For example a child can look at a chart and see that price is going up. An "experienced" trader on the other hand may look at that same chart and see that his MA's are crossing, and the slow stochastic is below the fast stochastic, and Woodie's CCI is at the zero line, etc, etc, etc.
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And you ask the child whether they would buy or sell and they most likely will choose the obvious (buy) for the obvious reason (because it's going up) and end up with a very good trade. [/QUOTE]
This is brilliant and so obvious to me. FYI I am about as new as they come... this is what I try to do. Where I fail is when I let myself get in my own way.
Quote from nysestocks:
OK MMD, lets see what we can make of this, and this event has just transpired a few hours ago.
A mate and I went to a casino today - btw, the buffet lunch was exceptionally good, and it was only $20 Canadian for all you could eat
My mate won some money a few weeks ago, and said lets go back to the same lucky table that he sat at:eek:
I said to him, I bet you I will make some money today, and you will more than likely lose - he smiled at me as he got some chips from the roulette table op.
He took the first available seat, as he was eager to get going.
After the first 3 spins he was up, but he was putting the chips all over the table - "Hey" I said, if you keep doing that you won't last long - and of course, he smiled again
He continued for about another 4-6 spins, and held his own.
A seat became available and I sat in.
I got 1/3 of the chips that he got to start.
He kept throwing chips all over the table, and he was still holding his own.
The opp asked me, inside or outside, or both?
I said "inside" please!
Minimum bet was $15, so you had to use 3x$5 chips for min bet, so my friend looked at me funny when I took just 3 chips from my pile and placed them on the diagonals of 3 sets of 4 numbers - 1st set at the top, 2nd set and the middle, and 3rd set at the bottom.
First spin I won - he lost.
Next spin he threw out chips all over the place again, I took my reduced odds bet winnings, stacked them up, and put 2 aside to use for the bet with my chip that was already left on the table.
I moved them a few 4 x squares, as it really did not matter, as I had the plan worked out before I started!
To cut a long story short, and after about 2 hrs of playing, he lost his initial money, plus the same again as he had to go for more, and guess what, I doubled my money
"You were lucky with those numbers coming up" he said!
"Na" I said, luck has nothing to do with it, "I just decided to play the odds a bit better, not go for big winnings, take the reduced odds that, over time, will give you better odds at winning.
This is how gambling should be done - nice and easy, take it real slow and don't look to get the full odds with a heap of chips o n a few numbers, for, it should be "obvious" that if you go diagonal, you have 4 numbers per $5 bet, and multiply that by 3, gives you 12 numbers for a $15 bet!!
Let the op spin away - and at one stage I had 6 losers in a row, but I just kept on doing the same thing, over and over, and after about 2 hrs, my money was doubled - I then said, bye bye Mr big fat casino man, and thanks for a nice enjoyable day
This is a true story, you can believe it or not, the choice is yours to make!
Actually, I picked up a leaflet at the casino, called âResponsible Gaming. Think about itâ¦â
How apt, I will post a section of it for all to read and enjoy!
Haha..
stockfiend
Guest
Here is my answer on what is required to take money from traders on a daily basis:
Having a consistently losing trader on the other side of your trade. You must visualize where the consistent loser is present in the market. Since it is a zero-sum game the loser must be there to pay you your profits. If you can see where the losing trader is present in the charts then you can profit from there mistake. And keep in mind the window for this opportunity is slim when it does occur, since there is very few who will make money off it.
Having a consistently losing trader on the other side of your trade. You must visualize where the consistent loser is present in the market. Since it is a zero-sum game the loser must be there to pay you your profits. If you can see where the losing trader is present in the charts then you can profit from there mistake. And keep in mind the window for this opportunity is slim when it does occur, since there is very few who will make money off it.
The most obvious thing is that most people will lose money. Many newbies fail to understand this fact.