Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
@J_Smith : Maybe you could invite me in about 2 weeks time, if you want and remember?
That would be a fun exercise
Thanks for the kind words and trust. Yes, for a gross environment often breaks subtle points.
That is fine SS, but I am nearly as old as you, so I might forget
We are in wind up mode at the moment, as all of us have other more important things to look after right now, but there will come a time when serious daytrading will be carried out on a daily basis, hopefully in the near future.
We do not offer any advice in relation to trades, we merely post our trades for discussion, as each of us trade different markets, at different times.
It broadens the mind, and keeps one focused on what they are doing.
Like any real trading carried out, there are losers and winners, with the focus on keeping the losers small, and the winners bigger than the losers.
You will bring the number to 5, so I might have to change the name from TFF to TMS
There is one other pending member, who is in the process of joining the group.
J_S
Ah, I'm daily TF trader for now though, and in entirely different markets (non-US). So not sure if it makes sense to focus intraday, at least I don't have the time for it now. I assumed your group was larger. Wouldn't want to lurk in a small group and not be able to contribute or have as much time.
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No problem SS, and if you change your mind just let me know.
We do not trade everyday, it all depends on what time we have available, but I am trying to get some trades done everyday from now on, using options mostly, but some outright shares as well on ETF's and stocks.
All we do is post the trades we make for discussion, and there is no pressure on anyone to post, just as long as they post some trades with a simple reason for same.
As RN rightly said, there is more than one way to skin a cat, and our main focus is on risk control, as that is the key to consistent profits when used with common sense trading.
You do not have to get market direction right to make money trading, but you do have to have an opinion, and change that opinion as, and when, the market tells you to do so, by using simple chart analysis, and a little few other things learned from many losing and winning experiences
My motto is..
If you want to win, you must learn to lose correctly.
J_S
I wonder if IE is still trading, or investing, as it will be interesting to see how he got on since jan 2013.
What he failed to see back then, is that you do not have to be an expert to trade effectively, but you do need to think seriously and use common sense.
I would say, one of the worst decisions he made was to look at charts from his friend, as his friend was more than likely using text book rubbish, which everyone knows is not the real answer, for if it was, then 95% would not continue to fail.
Common sense really!
J_S
I'd like to participate. As posting my trades in the other discussion actually helped me get on with trading instead of spending time doing other things. Otherwise I'd just spend all day trying to come up with the perfect way of KNOWING EXACTLY what the market will do(which is just a waste of time), and no actual trading.
I'm still just trading the YM as I watch it all day.
I'm actively trading, so I hope the others are at least actively trading on a daily basis as well.
Not singling you out forrestang - rather want to drive a few points home with some random thoughts
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Nothing..., on the face of this earth..., can predict future human behavior (impending order flow) - with any consistency..., or accuracy - absolutely nothing
It futile.., frustrating..., and a waste of time / effort - even trying
And why uncertainty is our number one component of trading
It unnecessary trying to know what the mkt will do
It absolute must - for us..., to always maintain a clear head - and know what we will do
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Throw in the fact - PA movement is orchestrated
(Whoa RN - you sayin price movement is manipulated....
No - I'm not saying it manipulated - rather orchestrated
When you control the mechanics
When you have enough money to affect price movement
When you can employ techniques via price movement to throw us little ones off our game
No need for manipulation - simply orchestrate it
shtf events notwithstanding of course
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My point is: anything can happen..., at any time - and we will never know before hand
Which is why we must always be clear..., and unwavering - iow..., know with absolute certainty - what we will do
Where we will get out for a loss..., where we get out for a profit
We must remain completely objective through it all - no matter what the mkt dishes out
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Here's another fact
We can do every conceivable thing correctly - and a trade ultimately breaks down
We can do every conceivable thing bassackwards/ fucked up / full retard - and a trade ultimately works
We can never..., ever - allow outcome's of trade to affect us
Each trade simply works out..., as it works out - then we move on to the next one
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Lot to get our ole noggin wrapped around
A hellofalot to get identified..., organized..., assimilated..., and ultimately formed into an effective..., working - approach to trading
Into our head..., so we evolve into an effective trader
We humans possess the uncanny ability to fuck up an anvil - I know / I've done it
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We never know..., we will never know
We are risk managers first
We keep every damn loss small
We manage risk..., in all its forms..., first and foremost
We remain objective..., patient..., and discipline
We make a plan for each trade - then follow that plan to fruition - with absolutely no deviation
iow..., none of this - making shit up on the fly..., or not knowing with absolute certainty what we will do - if / when a trade breaks down..., or..., if / when a trade works out
We never allow an outcome of any trade to affect us
We always:
define the risk
accept the risk
have a systematic way of taking profit
Before entering into each trade
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None of us know
Don't act like it..., don't think you do..., don't think we.., or anyone else - does
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More ways to trade than can be counted - we each have our own..., you must find yours
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Managing self - in a totally uncertain environment
Knowing with absolute clarity..., and unwavering certainty - what you will do next..., no matter what the mkt dishes out
Doing it
Then on the the next one
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Finally (and NY and I fought like cat and dogs over this one at one time
)Trading is gambling
Trading is a hellofalot riskier than gambling could ever come close to
We can either trade as a gambler..., or as the house
Anyone telling you trading is not gambling - is completely ignoring uncertainty
Anyone telling you trading is like gambling - is completely ignoring the risk
Anyone telling you - you are a gambler (and not the house) - doesn't understand - discipline..., patience..., routine...., objectiveness..., risk management
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Just a little guru speak on this fine..., fine morning
And possibly..., a little food for thought - from a simple minded..., dumbass..., redneck
RN
Thanks. Sent message.