Why Is The Obvious Not So Obvious?

[The Oracle]

anything obvious here MN?

TO

 

[The Oracle]

MN, can you now post a reply showing all of the dow 30 stocks in the one post with a 200 x 200 chart for each, directly linked to the yahoo website so that it will update automatically?

is should take you no longer than 5 minutes to complete once you have the component list symbols

TO

 

[Mysteron]

Quote from The Oracle:

well spotted. it is also obvious that you have recognized the difference between those that know what they are talking about and those who do not

you mentioned that you were trying to get some important information from another trader. it looks like you still need to overcome this obstacle that is holding you back

as the slippery one said, it's a load of bollox, but you must be able to distinguish what is actually a load of bollox and what actually works, for most of it is a load of bollox

there are several well known methods of trading that will yield very good results if the trader has the funding and experience to implement the required trading plan. you must have a plan otherwise you are not in control and will find yourself being attracted to those who post a load of bollox about nothing of any substance

for the purpose of this discussion we will only talk about a daytrading plan, as it can be the least risky if you know how to set up the plan correctly

so what does correctly mean?

i see you have been called MN in the past so I will refer to you as MN in the future. to be polite and civil i will also sign off as TO

TO

Hi TO

To set up the plan correctly, means to me:

Have a trading account without a minimum commission charge that allows a small number of shares to be traded whilst learning, increasing trade size as experience is gained.

Deciding what trading is required to achieve, i.e. extra income while having another job, or trading for a living. Setting a target gain to achieve per day.

Decide on the best times to trade, only trade liquid stocks with adequate range which are not too volatile.

The details of the trading plan then have to be setup to achieve those requirements.

BTW I am UK citizen and have a CFD account and work full time. So I can only trade when I am at home during the afternoon session of the NYSE.

MN

 

[Mysteron]

Quote from The Oracle:

it is time to state some facts in this thread and stop the silly posts:eek:

in all commercially run organizations there will be always be someone trying to come up with ideas on how to improve on performance and thus enhance the bottom line. most of what is tried is derived from what has already been "tried and tested" by others. one of the most famous ideas is the toyota lean manufacturing system, and this has been "copied" by thousands of companies worldwide

along comes the fukushima disaster and suddenly the weak spots are quickly identified in the process. why was such an event not allowed for in the plan, as toyota has plenty of money to implement such a plan if required?

there is a single word that comes to mind, and when this word is brought into the trading game the outcome can be disastrous for those who decide to participate

think before you type!

TO

Risk is the word that comes to my mind.

The lean manufacturing system seems to focus on reward for a customer, any other activity is then regarded as a cost to be elimiinated. So the process is not risk averse.

With trading the aim is to gain by keeping losses smaller than winners so the perspective is different.

 

[Mysteron]

Quote from The Oracle:

what information does this picture show and what information does it not show?

TO

The candle shows the price extremes and also the price at the time extremes. It does not show what happened between those extremes, or in what order. The single candle does not show how it is related to previous candles, be it large or small, or if the OHLC prices are near any price levels.

 

[The Oracle]

Quote from The Oracle:

MN, can you now post a reply showing all of the dow 30 stocks in the one post with a 200 x 200 chart for each, directly linked to the yahoo website so that it will update automatically?

is should take you no longer than 5 minutes to complete once you have the component list symbols

TO

make that 150 x 150

let me know if you are having difficulty as it is ready to post and we can't be wasting time for you know what that means

TO

 

[Mysteron]

Quote from The Oracle:

anything obvious here MN?

TO

...

Its obvious that some stocks go up while some go down and others are flat. Some sectors are strong some are weak.

 

[The Oracle]

Quote from Mysteron:

Hi TO

To set up the plan correctly, means to me:

Have a trading account without a minimum commission charge that allows a small number of shares to be traded whilst learning, increasing trade size as experience is gained.

Deciding what trading is required to achieve, i.e. extra income while having another job, or trading for a living. Setting a target gain to achieve per day.

Decide on the best times to trade, only trade liquid stocks with adequate range which are not too volatile.

The details of the trading plan then have to be setup to achieve those requirements.

BTW I am UK citizen and have a CFD account and work full time. So I can only trade when I am at home during the afternoon session of the NYSE.

MN

seems like you have learned a lot MN. there is no sense going full time trading until you have it mastered and have adequate trading capital. how long that takes will be different for everyone for obvious reasons.

cfd a/c is not really suited for daytrading stocks once the initial experience is gained, as direct access to the liquid markets is not possible (you are trading with the cfd company) and the charges are also too high, but it is fine for 50-100 share lot trades when learning

only having time to trade in the afternoon can be a big disadvantage, but let's see what happens when you post those little charts

TO

 

[SnakeEYE]

Quote from The Oracle:

what information does this picture show and what information does it not show?

TO

bla-bla-bla

it shows the single candle and doesn`t show the other candles - prior and next.VERY substantial info

 

[The Oracle]

Quote from Mysteron:

Risk is the word that comes to my mind.

The lean manufacturing system seems to focus on reward for a customer, any other activity is then regarded as a cost to be elimiinated. So the process is not risk averse.

With trading the aim is to gain by keeping losses smaller than winners so the perspective is different.

not the word i had in mind but a very good point. mine begins with a c and ends with a y and nine in between

if we keep thinking of the double zero then it is easy to focus on what actually needs to be done and not what we think needs to be done

copying what others are trying to do can be a big mistake in this game

TO