Why Is The Obvious Not So Obvious?

[poland]

Quote from odlareg:

TE mentioned about playing with CFD.
From my understanding CFD is like visiting a casino but you place your bets with a street bookie?

It is not LIKE VISITING a casino, start considering IT IS a casino........

Isn't that risky.

It depends on what you call risky. Some people consider crossing the street risky and in fact it is.

Just start with buying a small quantity, where risk is small. Get experience. TO was very kind to post something very worthwile at
10-03-11 12:50 AM about this matter.

regards & many thanks.

[/B][/QUOTE]


Many Thanks GO for your kind reply.
Actually I think the key difference between CFD and a normal broker is leverage....
If you can afford it, I think it is better to go for a normal broker as your order head straight to the Exchange. Whereas CFD, you are betting against the Bookie....i feel that this is the additional risk.

Normal broker >> commision + risk from market
CFD >> commision + risk from bookie + risk from market


BTW, I search thru', there is no TO posting on the a/m date. I suspect it is because our computer clock is running on diff time zone.
Are you referring the the posting on how to work out the max % risk?

 

[poland]

Dear TO/TE,

thanks for your kind.
Yes, I have been reading and learning.
Honestly, I have not figure out what is the OBVIOUS....
but for the past 3 months, my losses is getting smaller and my wins are coming more frequent.
I like your saying of 100pennies makes a pound...
I used to decide what I like to take from the market....obvious i couldn't....Now I acceot whatever the market is giving me...
Just like going fishing....accept whatever catch the sea is giving.

Many thanks and greatly appreciated.

Quote from The Oracle:

pl..if u have been reading what is written..u will know that everyone is different..it depends on ur circumstances..family..available cash..girlfriend..or boyfriend maybe!!

US stocks..if played correctly..can be the least risky to trade

Ftrs..can make u lots of money..but flipside..can also lose u lots of money..very fast..imagine if u were short recently with no stop:eek:

as we keep saying..u must learn to quickly distinguish between those who know what they are talking about..and those who do not..like potato head

never be afraid to question everything that is said..and the ultimate guidance tool is ur trading account..for if is not going in the right direction..then STOP immediately..and work out what YOU are doing wrong..make the required changes..and know why u are getting what u get

there is no rocket science to trading..most of it is just pure bullshit..and pay no heed to the many fools who think they are experts..for..there is no need to be an expert when trading..just a level headed common sense thinking individual..if u can do that then u can make any amount of money u so desire..when u desire

never forget the baby..and how he must first crawl before he can walk

cfd's have their advantage and limitations..brilliant for learning if u have small money to start..but terrible for commissions and fast moving markets..as some will even freeze the quotes and u will not be able to trade..which is not on..and which is why YOU must get a good broker..no matter what way u decide to trade

another viable option is prop trading house..but again..they are very risky..and u want to make sure they are covered under government scheme..so if they go bust u will get ur money back..if u can not get a guarantee..then stay 100 miles clear of any prop trading firm without guarantee..why risk losing ur money before u even start making money:eek:

no matter what way u decide..if u never really start..u will never really get anywhere..too many spend way too long talking and looking..and forget that they need the live experiences to advance

TO

 

[macattack]

Quote from The Oracle:

it is how u react to what happens..that matters most..not what actually happens

But I think if you do your homework at night you should have some kind of idea what "may" happen the next day. You still have to react to what happens, otherwise you'll end up sitting in a losing trade because of what you "think" rather than getting out because of what is "actually" happening.

That's the downside of trying to trying to predict what will happen the next day or the next hour or the next 5 minutes. I think it's helpful, but it's hard to detach yourself from your analysis.

You always have to ask yourself, "What is price doing right now?". If your analysis says it should go up, but it's going down then you need to stop & think & make a good decision.

 

[odlareg]

BTW, I search thru', there is no TO posting on the a/m date. I suspect it is because our computer clock is running on diff time zone.
Are you referring the the posting on how to work out the max % risk? [/B][/QUOTE]


Oh yes, that is probably the item.

GO

 

[Postao]

The third box from the right -what happened
Lol

 

[Mysteron]

Quote from odlareg:

I would say a bad falsification of Victory Boogie Woogie by Piet Mondriaan

GO [/B][/QUOTE]

Hmmm...I see, sort of.

Hi GO.

 

[Mysteron]

Quote from The Oracle:

it is how u react to what happens..that matters most..not what actually happens

My conclusion to date, after 18 months of daytrading, which may seem for some to be only slight experience:

Most people who try trading will struggle and loose, and follow the well trodden trail of trying numerous methods of TA, charting, data sources, reading forums for help/tips/ideas for how to trade, until eventually it dawns on them that the key problem to master is their own behaviour.

 

[The Oracle]

Quote from macattack:

But I think if you do your homework at night you should have some kind of idea what "may" happen the next day. You still have to react to what happens, otherwise you'll end up sitting in a losing trade because of what you "think" rather than getting out because of what is "actually" happening.

That's the downside of trying to trying to predict what will happen the next day or the next hour or the next 5 minutes. I think it's helpful, but it's hard to detach yourself from your analysis.

You always have to ask yourself, "What is price doing right now?". If your analysis says it should go up, but it's going down then you need to stop & think & make a good decision.

of course mk..u must have targets..and take ur loss or profit depending on what develops after u are filled

if u look at the boxes..u can see what is likely to happen..and so..u can be ready to take action

never be afraid to take a profit..or get greedy..as u can see from the chart what can happen

as we keep saying..practice makes perfect

i hope ye are all now seeing how concentrating on ta is not the best way to learn how to trade..nor to risk everything on one trade..no matter what the likes of potato head says

the truth is..anyone can learn how to be successful..providing they commit to learn what is required..practice live trading..with small risk initially..and gradually increase as the experience is gained and results are positive

do u not see how practical this approach is..and..how..after initial success..the fine details can be worked on to improve performance

success is achieved by the same means..no matter what profession u are in..and success breeds success

the main obstacle to advancing in trading..is listening to idiots..who think they know what they are talking about..when..all u really need is the basics mentioned to kick start the process..after that..providing u are committed..u will make money..guaranteed

TO

 

[The Oracle]

Quote from Mysteron:

My conclusion to date, after 18 months of daytrading, which may seem for some to be only slight experience:

Most people who try trading will struggle and loose, and follow the well trodden trail of trying numerous methods of TA, charting, data sources, reading forums for help/tips/ideas for how to trade, until eventually it dawns on them that the key problem to master is their own behaviour.

and what controls ur behaviour?

Man is certainly stark mad; he cannot make a flea, and yet he will be making gods by dozens

Nothing is so firmly believed as what is least known

A straight oar looks bent in the water. What matters is not merely that we see things but how we see them

 

[Mysteron]

Quote from The Oracle:

and what controls ur behaviour?

Man is certainly stark mad; he cannot make a flea, and yet he will be making gods by dozens

Nothing is so firmly believed as what is least known

A straight oar looks bent in the water. What matters is not merely that we see things but how we see them

I'd like to think that I control my own behaviour with perfect perception of reality, but there is the awareness that I/we are biased in our thought processes, which leads to doubt in what I think is right. In that case the only sensible thing to do is to have a plan and stick to it.