Why Is The Obvious Not So Obvious?

[MrScalper]

Thank you for your time posting here. Even though I am not fully getting everything I value your efforts.

The funny part is..the more you learn the worse you get..if you can keep it very basic..and be able to see the difference between controlled moves and uncontrolled moves..then it really just becomes a matter of time.

Those who sat back and waited for the low risk long were well rewarded today.. timing is everything when trading.. anyone who gets to tell you diff..well.. really doesn't know much about making money trading!

Do not expect to grasp it in a day..or even a month..takes lots of trading with real money for it to sink in..as you will find that even after you understand..the execution is really the hard bit..and nothing better to make you take notice than losing loads of money

 

[MrScalper]

Please don't shoot me.

Got it, thanks.

I was eying a stock for a couple of months, staring at the price chart everyday every hour like you folks told me. Then, around the middle of June I noticed something. Right after that the stock price went up 10% in a matter of one week. I did see something on the price chart but non of the TA (MA, MACD, RSI...showed anything) not sure if that was the obvious? But I won't tell.

Best regards,

Sure if you don't tell us we can't tell you if it was the obvious or not

 

[Pelt]

...What was posted in the first post again.. something about a prerequisite..is a prerequisite not something that must happen before something else..in other words.. one must do something before one initiates or closes a trade..what might this something be?

Based on the content of the thread, my guess would be 'think.'

 

[ironchef]

Sure if you don't tell us we can't tell you if it was the obvious or not

After studying your posted charts, your obvious and my obvious are obviously different.

Kidding aside, I thoroughly enjoyed your posts and benefited greatly in some big picture way.

Have a good day sir.

 

[MrScalper]

Based on the content of the thread, my guess would be 'think.'

Here is something to think about

 

[MrScalper]

After studying your posted charts, your obvious and my obvious are obviously different.

Kidding aside, I thoroughly enjoyed your posts and benefited greatly in some big picture way.

Have a good day sir.

One should always remember that knowledge in itself is of no real value..it is the application of the correct knowledge that makes all the difference..or in other words..

"knowing and doing are not one and the same"

A simple doer will do far better at trading than a know all

 

[MrScalper]

In relation to my book excerpt..I will not give the name as i think it is not worth reading and will only put you on the wrong track..but..of all the books I went thru..the simple strategy mentioned is worth investigating..do not take my word for it..go and check it out yourself if you are really interested

 

[_eug_]

Here is something to think about

View attachment 174991

This makes sense... All the places where I went long did bounce for at least 2 points but it is my trade management which made me lose money. Assuming it was the reversal rather than just watching and following price. I find this very hard to do because if i do move my stop I get stopped out for small profit and the thing will run. Man sometimes its like banging your head against the wall... But I love it. I go to bed thinking about what will happen next in the market.

 

[Jdesey]

In relation to my book excerpt..I will not give the name as i think it is not worth reading and will only put you on the wrong track..but..of all the books I went thru..the simple strategy mentioned is worth investigating..do not take my word for it..go and check it out yourself if you are really interested

View attachment 174994

I really like this,,, going to back test vs my fixed exits... maybe this makes more sense

question.... is that the closing price of the current bar vs the closing price of 2 bars back? or the opening? or neither?

 

[MrScalper]

This makes sense... All the places where I went long did bounce for at least 2 points but it is my trade management which made me lose money. Assuming it was tbe reversal rather than just watching and following price. I find this very hard to do because if i do move my stop I get stopped out for small profit and the thing will run. Man sometimes its like banging your head against the wall... But I love it. I go to bed thinking about what will happen next in the market.

You still have a long way to go..when it gets boring you will know what you need to know!

Getting stopped out is a normal part of trading..but over time it should be less as you start to see what the charts are actually showing..but you will still have losses no matter what you do!

Key is to lose a small bit..then when it does move..like today..you maximize on the opportunity and increase your size for larger profits..not easy to perfect..but well worth the time and effort.

Next time you go to bed..think of the waterfall