Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
Wait a minute.................you & TO "never" read or watch tv................or do you just mean during the trading day?
Well now that I think about it...........you're both reading my posts, & your spending your time doing it, and my posts are trading-related, so in reality you are paying with your time to read my writings about trading.
I've got you now !!!
Just kidding........but seriously, you guys "never" read or watch tv???
Quote from macattack:
Wait a minute.................you & TO "never" read or watch tv................or do you just mean during the trading day?
Well now that I think about it...........you're both reading my posts, & your spending your time doing it, and my posts are trading-related, so in reality you are paying with your time to read my writings about trading.
I've got you now !!!
Just kidding........but seriously, you guys "never" read or watch tv???
No Sir ⦠nothing trading/ market related
In the past; yes I read voraciously⦠listened to it all⦠subscribed to many trading sites/ news letters (some well known.. and some not very cheap)
I did everything I could â to getâ¦, what I thought was âthe necessary knowledge to trade successfullyâ
Kept deluding myself into thinking someone has just gotta know something â however small the tidbit... and by damn I will find itâ¦.
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Not any more
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Something to ponder;
Assume for a moment you knew every conceivable bit of information available⦠all of itâ¦
You still wouldnât know how the big boys are going to respond to itâ¦.. or even if they willâ¦
Would they buy it⦠or short it⦠how many head fakes would there be before it actually movesâ¦
Who knowsâ¦. Who can sayâ¦.
What I know is that it will certainly never be meâ¦, so best I focus on my trading⦠while knowing when the potential SHTF announcements occur
And lest we forget the âfat finger botâ⦠or 2007â¦. Or in my specific case the govt banning short selling financials â no amount of news prepares one for thoseâ¦.
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Like you correctly stated; we are all differentâ¦.
For me;
keeping my losers small â is key
following price â is key
knowing I know absolutely nothing â is key
knowing the mkt is uncertain â is key
being flexible â is key
being open and opinion-less (iow neutral) â is key
And oh how the news will easily screw the last four up (I know this for a fact)
Your task â identify your keys Sir
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Lastly⦠Iâm certain there are traders who make money off the news⦠(gazillion ways to trade successfully after all)⦠however I am not one of them
You otoh may be MAC..., but only you can say for sure
RN
I get what you're saying. I've gotten past the first stage you mentioned...."Kept deluding myself into thinking someone has just gotta know something â however small the tidbit... and by damn I will find itâ¦."
I was stuck in that stage for an embarrassingly
long time.........years & years.
I don't watch the financial news..........don't even have cable. When I say I read & watch things it's not because I'm searching for something to revolutionize my trading. I read & watch because I find it interesting, & if I learn something so be it. The youtube Wall Street Warriors videos were very interesting to me. I've always wondered how pit traders, option brokers, market makers, hedge funds, daytrading firms operate, and that show gave a little insight to each one. I'm reading a book about ancient Egypt right now for the same reason........I thought it might be interesting.
When I read a trading-related book at the bookstore I only pick one up if it's some oddball book that peaks my curiosity. I read all the other crap in years past. I even read part of a book the other day in the economic section with a title like "why the obvious isn't obvious". Just had to pick that one up & read it. It was pretty interesting.
I do still learn a tidbit here & there from things I come across though from various books. I read about Stan Weinstein's "stage analysis" a few weeks ago, and even though it's a real "duh........" concept, I never thought it about in the way he stated, and now I frame price action a little differently in my head because of it..............in a way that helps my trading.
I read about the "opening price principle" from Pesavento, and the extremely simple concept never crossed my mind before, but now I keep a little closer eye on the opening price. I read something by you not too long ago about drawing channel lines & that has helped a bit.
So anyway I'm not specifically looking for anything, but if it falls into my lap I'll take it. How many times have you been talking with a friend about something & they say something interesting, and you stop & say, "oh.........I never thought about it that way." That's all................no reason to attach any more weight to it than that.
I'll have to think about "my keys".
JH..if u are going to post charts..then please post as requested..showing the trade details such as entry..stop if u have one..and profit target..if u have one
u can then take questions from others on same..and elaborate if u so desire
it is no good posting a chart..or trading results..unless they match up..and also note the broker u are using..if it is not obvious
here is a sample which i think i may have posted earlier..to help u along..and if u have any questions..feel free to ask and TO will answer same..providing u are not posting rubbish about nothing
a simple request..requires a simple response
TO
to get back on track..TO will post a screenshot from recent development work..and explain a small bit about benefits of same..but for obvious reasons..the complete FFT setup can not be posted..anyway..it may not suit anyone else but TO..for it is as a result of the way TO thinks and operates
TO
TO