Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
Quote from The Oracle:
it all depends on what type of trading u are doing..so..for options on mib..u have seen typical trade..identify max risk..get in without thinking about it too much..know at what level u should look at getting out..and always take profits when u have them..even if it means missing out on big move..for..u can enter again very quickly with a few clicks of a mouse
for daytrading US stocks..now..that is completely different
all in can be a very bad thing to practice..and i would never ever do it..no matter how much is possible to make..for..the one day i think i have it made..bang..down the fukin swanny goes the whole lot..and the big fat arse bastards will be laughing at you..again
position sizing is of course very important..and yes..u must trade bigger size when required..but the important part here is the WHEN REQUIRED..not when you think it might be..for..there is a big difference..and when you know the difference..u will know
anyway ZT..no matter what market u trade..there is one OBVIOUS thing that you must know to control ur risk..and make some good money..and NY has told me what it is..but it has never been directly mentioned in this thread..well..as far as i know anyway..so..let us see if it will ever be mentioned..and not by TO of course..but by someone who has entered The Matrix
TO
That answers my question .
to clarify, when I trade all in all out its only with .25% max risk per trade so it's fine. its not the kind of all in all out with the farm at stake
"To control your risk " ...
Some things i do and maybe some depth of what risks there are for those who overlook some of them.
know when big impact news will hit the tape, know the ATR on various time frames , you have to know liquidity of the instrument on a time and price basis, when is it liquid, when isn't it, when is it volatile , when isn't it, know session hours and maintenance periods, know circuit breaker limits, limit up, limit down, know position limits, know spread size, know your position size and stop loss amount, know that anything can happen at anytime, know your stop can get slipped and blown pretty dang far ,know that broker errors can happen, know that platform errors can happen, know if your orders are held at the exchange or on your computer, know all order types and what their implications are of each one, know margin requirements , Know that gaps can, will and do happen. Know what you do if a nuke goes off tomorrow in NY city at 10 am. Know your broker will answer by the 3rd ring. Know that the dow can lose and make 700+ points in a few minutes. So many risks in this business.
Know your risk and manage it accordingly. Thats my contribution to the world for the day . lol
from your post above^^^"use simple language, don't copy, and think for yourself" thats good I like it.
Quote from The Oracle:
here u go ML..and easy does it
Oh no cookie monster ate it all and elmo didn't even get the crumbs. Elmo is sad
Maybe elmo can have a gold fish
Oh wait...you say go fish for yourself!
Elmo is not afraid to fish, but very scared of the sharks
Elmo would like to know where the sharks are so that elmo can fish before the sharks arrive or after they have left
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On another note I like the theme of this thread alluding to sponge bob, matrix and now sesame street. Maybe if we can throw in a couple more like cat in a hat and super why, we will have a whole new set of TFF
I was going through the TE's thread on the 'other site'. Good stuff except for the high noise and low signal.
I came across one post which mentioned a camron guy down under. When I checked the site it looked eerily familiar but different at the same time
Do you know about it? Is it worth absorbing or just a load of shyte
I came across one post which mentioned a camron guy down under. When I checked the site it looked eerily familiar but different at the same time
Do you know about it? Is it worth absorbing or just a load of shyte
Quote from mekanikal:
I was going through the TE's thread on the 'other site'. Good stuff except for the high noise and low signal.
I came across one post which mentioned a camron guy down under. When I checked the site it looked eerily familiar but different at the same time
Do you know about it? Is it worth absorbing or just a load of shyte
hi mekanikal,
can you let me know which other site?
http://www.trade2win.com/boards/
search for "The Expert"
Search this forum for TE and NYSE there are other threads here as well.
Poland,
No, the Camron dude is an idiot. But he has one tiny useful bit of information. TE reveals if you follow the threads, but he doesn't give it up easily.
cheers
Bogan22
Quote from The Oracle:
anyway ZT..no matter what market u trade..there is one OBVIOUS thing that you must know to control ur risk..and make some good money..and NY has told me what it is..but it has never been directly mentioned in this thread..well..as far as i know anyway..so..let us see if it will ever be mentioned..and not by TO of course..but by someone who has entered The Matrix
TO
Keep it simple. Be humble. The generals do the opposite. Learn their language with practice and brain exercise.
The generals have to keep moving, if they stop they die. But we have the luxury to stop or start when we please. Which implies WRB -> NRB -> WRB.
Keep losses small and never be afraid to lose
Did I miss anything
I have turned the corner of being a typical investor/trader with an upward bias. Now all I see is stock movements from one place to another and would not hesitate to enter long or short. I have also learned that 'the more I know, the less I know'.
I can practice risk management. Now still need to figure out how to identify high probability area
Thanks bogan for the clarification regarding Camron. I want to limit my reading to quality stuff! I did notice some interesting tidbits and he does get verbose.
For e.g. he discussed volume to great lengths and how it is one of the most important component of any transaction. He delves in micro/macro economics, supply & demand etc.
Then he comes back to trading and how volume is important here as well. But the big movers are clever bastards and hide their volume. The volume we see on the chart is mostly market maker noise and the true volume is disguised. That is why volume on a chart is useless. TFF simply stated this fact in one line
He mentions to look for volume in other places like DOM and how different algos will behave and their telltales in the DOM + charts.
Is this the interesting bit you are talking about?
TE is quite clever and hides the important bit in plain sight. Add on noise from other idiots and it gets drowned and difficult to identify!
He also started some private group which unfortunately for me was at a time when I was sleeping
Maybe TFF can start another class