Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
It is very hard to pay attention to PA when daytrading without distructions, but it is what's required IMHO.
I remember having a night of complete attention the first year i started daytrading forex, i was fixated to the screen, i doubled my account that night....and i have never done that again
The next day i was totaly exhausted, but happy.
Perhaps what helped also was the fact that my head was clear of all the additional TA i learned since then, i just traded what i saw.
I remember having a night of complete attention the first year i started daytrading forex, i was fixated to the screen, i doubled my account that night....and i have never done that again
The next day i was totaly exhausted, but happy.
Perhaps what helped also was the fact that my head was clear of all the additional TA i learned since then, i just traded what i saw.
Just a little food for thought - for anyone who cares
RN
A handful of patience is worth more than a bushel of brains. ~Dutch Proverb
How can a society that exists on instant mashed potatoes, packaged cake mixes, frozen dinners, and instant cameras teach patience to its young? ~Paul Sweeney
Patience is something you admire in the driver behind you and scorn in the one ahead. ~Mac McCleary
Patience is the ability to count down before you blast off. ~Author Unknown
Beware the fury of a patient man. ~John Dryden, Absolam and Achitophel, 1680
Patience is a most necessary qualification for business; many a man would rather you heard his story than granted his request. ~Lord Chesterfield
Patience: A minor form of despair disguised as a virtue. ~Ambrose Bierce
You can learn many things from children. How much patience you have, for instance. ~Franklin P. Jones
Genius is nothing but a great aptitude for patience. ~George-Louis de Buffon
Adopt the pace of nature: her secret is patience. ~Ralph Waldo Emerson
Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. ~John Quincy Adams
Patience is the companion of wisdom. ~St. Augustine
Patience is also a form of action. ~Auguste Rodin
How poor are they that have not patience!
What wound did ever heal but by degrees?
~William Shakespeare, Othello, 1604
One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life. ~Chinese Proverb
Experience has taught me this, that we undo ourselves by impatience. Misfortunes have their life and their limits, their sickness and their health. ~Michel de Montaigne
RN
A handful of patience is worth more than a bushel of brains. ~Dutch Proverb
How can a society that exists on instant mashed potatoes, packaged cake mixes, frozen dinners, and instant cameras teach patience to its young? ~Paul Sweeney
Patience is something you admire in the driver behind you and scorn in the one ahead. ~Mac McCleary
Patience is the ability to count down before you blast off. ~Author Unknown
Beware the fury of a patient man. ~John Dryden, Absolam and Achitophel, 1680
Patience is a most necessary qualification for business; many a man would rather you heard his story than granted his request. ~Lord Chesterfield
Patience: A minor form of despair disguised as a virtue. ~Ambrose Bierce
You can learn many things from children. How much patience you have, for instance. ~Franklin P. Jones
Genius is nothing but a great aptitude for patience. ~George-Louis de Buffon
Adopt the pace of nature: her secret is patience. ~Ralph Waldo Emerson
Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish. ~John Quincy Adams
Patience is the companion of wisdom. ~St. Augustine
Patience is also a form of action. ~Auguste Rodin
How poor are they that have not patience!
What wound did ever heal but by degrees?
~William Shakespeare, Othello, 1604
One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life. ~Chinese Proverb
Experience has taught me this, that we undo ourselves by impatience. Misfortunes have their life and their limits, their sickness and their health. ~Michel de Montaigne
coolI won't use the word algorithm because we are not robots, so what is needed for gambling is:
A process or methodology for making decisions, when faced with uncertainty, that focuses on long term success.
A problem with this is that being human, your personality can cause you to fixate on winning the current trade, and to then deviate from the process, or not to develop one in the first place, and then to loose in the long run.
PA is never 'messy' as such, there is always logic in the way price behaves when the prevailing market condition is understood. True, in a fast market when the spread widens you will see transaction prices jumping around, but the significant levels are determined in exactly the same way as always. I trade the CL contract heavily and around news releases it will commonly print swings in excess of 30 ticks on timescales well under 1 second. However, it never ceases to amaze me how price will still interact with the predetermined levels in the same way.
It makes me laugh how certain people are getting frustrated because the thread originator will not divulge a step-by-step trading plan. Their infantile comments mark them out as having personality traits which are wholly unsuitable for participating successfully in the market. However, no doubt they will keep offering their opinions in this thread as they keep offering their money in the markets. It is in the very fabric of their nature and they cannot help themselves. Whilst they are an irritation in the context of this thread, understand that these traits are a necessary ingredient in the market if you are to make money.
Those of you with the potential to progress in this game will have already realised why the author is not giving you all on the answers on a plate.
Firstly, and this is a common theme in the thread, you MUST be capable of thinking for yourselves. Thanks to the education system the majority of the population are conditioned to be spoon fed. Why do you think trading books and courses are so popular? Because they offer easy answers. I rarely visit this site these days, but when I do it saddens me that everybody is rushing to find answers. It is very rarely that I see a thread where somebody has asked 'Am I asking the right questions?'. How can you hope to find meaningful answers when you don't have a clear idea what questions you are asking? This thread isn't about giving you any answers. It's about getting you to ask the right questions. The answers you then have to suss out for yourselves.
Secondly, and most importantly, if the answers were given to you then what value would you attach to them? You wouldn't have invested a drop of sweat equity in working them out. To illustrate this, consider whether you would be more bothered if you smashed a sculpture that you bought in a shop or one that you had spent months making yourself? This game is such that only a minority can win. If you think through the mechanics of it then you will realise that it MUST be this way. When you win in the market you are taking money from others. For you to continue winning those others must continue losing. There is a deep responsibility attached to knowing how to take money out the market. This is valuable information and as such must be handled with maturity and respect. Both respect for yourself for the effort you have put in to gaining it and respect for the others who are also using it. Invest two years of your life working out the questions and answers...then see if you want to give them away.
Don't tap on the aquarium!
Thank you for reminding us that we are students - the begginer students aking very silly questions sometimes and behaving like little children trying to get what we want.
Just as annoying is to see people like you randomly poping in, telling us how silly we are, offering very little help, saying things of no real value or things that we all already know.
Haven't you ever been an underdog, Scooby? Haven't you ever been called a Loser or spoon fed?
Hard to part with hard earned knowledge? - Why post at all?
I like your analogy about the sculpture though. You have to sweat a bit to appreciate things more. And I thank God there are people with amazing hearts that have patience and desire to help.