Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
well MK..is that not the six million dollar question
but..lets try and apply some common sense and see what happens
price is moving up and it then peaks and reverses..we now have a new recent high in place
the high holds and the price drops back a bit
some time passes and the high is still not taken out..but the price has not really fallen much either
what should we do..and what does it depend on?
opposite for a new recent low..but the same thing
maybe an excel file can help
never be afraid to try out something that might help u think more clearly..try the game and post the chart..and..never ever be afraid to lose..for..if you do not learn how to lose correctly..u will never win..that is a given in this game
ok. so granted that game is not the real market but that brings something big into light. those are profitable trades and there is no market, no people to trade against. i know some people will say you are just posting some winning trades in a game, but i highly doubt you are faking that by any means so ill just nip that in the butt. does anyone else see that as more impressive almost?
Quote from The Oracle:
well MK..is that not the six million dollar question
but..lets try and apply some common sense and see what happens
price is moving up and it then peaks and reverses..we now have a new recent high in place
the high holds and the price drops back a bit
some time passes and the high is still not taken out..but the price has not really fallen much either
what should we do..and what does it depend on?
opposite for a new recent low..but the same thing
It really is the six million dollar question. Without choppy, sideways action trading is easy.
I honestly don't know what action to take next in the scenario you describe. Common sense tells me to be patient & wait for price to indicate what direction it's heading & then get back in.
The only problem is the "indications" are all fakeouts & at the time they are happening you don't know that.
A good scenario is that I enter a long or short based on price indicating that it's going that way & a trend begins. Easy.
The more common scearnio it seems is that I enter long or short based on price & I buy the high, sell the low, get stopped out.
Then I say ok, I'm not going to let that happen again, so I sit there all patient & wait for an even more obvious signal & once again it just turns out to be a trap again. Whoever is out there taking my money is a professional trapper.
Anyway.........I'm not sure how to deal with chop right now. I'm going to work on it this weekend & figure it out.
XX..i want to make something very very clear..as some here are new to this game and might be picking up some silly ideas from the posts
1. trading IS gambling..no matter what anyone says differently..for..anytime u put ur money at risk u are gambling..end of story and no more discussion about it
2. if u are going to gamble..u must understand risk and odds
3. u must have adequate money..for..reward achieved is always directly linked to risk taken
4. as a daytrader..u have a major advantage over other traders..and that is..time is on YOUR side..and as we know..T=$
5. this is the hard bit..up to now has been common sense stuff..u must come up with a way to execute trades that allows u take advantage of time..and..that means..u must come up with an average return..or R/R ratio..that will make you good money over a set number of trades..and the number of trades required will be determined by the way..or stragegy if u want to call it that..that u have come up with to identify entries and exits
forget about all the bullshit and fluff..as mentioned 99.99% of it os total waffle and just plain old rubbish
people will always try and justify something that they do not have an answer for..that is human nature
so..fuk the soothsayers..and think in the real world..the world of scam artists and bullshitters who will con u out of ur money any chance they will get..tell them all to fuk off..and they are not getting any of your hard earned money..no matter what they say
if u lose some of ur money..know why u lost it..and next tie try not to ose as much..and keep refining the losses..until the losers turn into small winners..and then..u will find that small winners will turn into bigger winners..and..even though u will have losers..ur overall result will be..good money every week
Luke 23:24
"fuk them all..for they know what they do"
TO
they could have been losers just as easy..it is only a game and has no bearing on real trading..but it does show u what will happen if u stay in too long..or do not get in at all!
The game is the real market. It shows actual prior stock charts, but does not tell you which stock or during which time period, so that you can not look it up.
By the way Oracle had lost $ in the game so far, since you begin with $10,000 and he was at around $9600.