To avoid biased thinking and behaviour
Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
To avoid biased thinking and behaviour
Correct. The obvious has indeed been mentioned by some, but it will never be revealed, as doing so is pointless, for no one will believe it.
We all know there are many ways to trade the different markets, but they all do the same thing!
Sit back and look at the market you trade, say to yourself, what am i doing wrong, what can it be that is causing me to continue to lose money?
What is your answer?
J_S
In the past, some very basic things were mentioned by NY, and some picked up on them, most did not.
After a while, some people returned, saying that they had thought about these things, tried them, and they worked, and it had changed their results.
What is the difference between the few that changed, and the rest that did not?
J_S
Now that has always been obvious
NY is not saying that any person can not see the obvious, he is just saying it will never be revealed by others, it must be discovered by the individual, for that is the only true way it will work.
The majority of what is posted about trading is nothing more than time wasting irrelevant information, and the quicker a person realizes this the quicker he/she can start to improve and take some money from those who are giving it away.
J_S
I expect the difference is that the few were capable of changing the way they thought and acted.
Now that has always been obvious
It may be obvious that institutions dominate the market but how many traders stop to think about what that 98%+ of volume actually represents. Is it active short-term trading, like they're doing, or something altogether different?
Of the less than 2% of volume, which is attributable to individuals (retail), I would hazard a guess that most of this is down to buy & hold type investors not active traders.
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There are predominately 2 types of people.
1. Talkers
2. Doers
1. will find it very hard to make money trading.
2. will succeed, providing they sit back and look at what they are doing wrong, stop doing it, and understand that making money is not all about getting the direction right.
Of course some ways of trading are less riskier than others, but one must accept the fact and make do with what they can do.
Will we get a rally in the next dew days, who knows, but if you don't take on some risk then you will miss out if we do.
Will the market keep falling in the next few days, who knows, but if it does and you have gone long, then you must know how much you are going to lose, and not let it affect your ability to keep trading.
Of course, you could just wait for the market to open, and trade whatever way it is going, providing you have the time and money to do that.
J_S
Retail traders are of no significance what so ever, and that does not matter one little bit.
What does matter, greatly, is the fact that price will move for a reason, and the reason can vary, depending on several factors.
The talker will talk about everything, and do nothing to find out what actually moves price.
The doer will make it his-her business to find out some basic facts about what actually moves price - as the intricate details are not required for the retail trader - and incorporate these details into trading decisions, so that when something happens, you have several reasons as to why it happened, and you are not sitting there and thinking, WTF just happened!
J_S