Why Is The Obvious Not So Obvious?

M4-1 said:
Tort Law

A tort is a civil wrong. There are a variety of tortious acts. The vast majority of tortious acts require the plaintiff to prove that the defendant was Negligent.

In order for a defendant to be negligent to a plaintiff, the plaintiff must prove that the defendant owed the plaintiff a Duty of Care.

There are 4 separate points to proving a Duty of Care exists. If any one of these points fail, then the case will fail.

Any student who cannot fully explain the 4 points required to prove a Duty of Care exists, may step up and receive their "dime", so that their mother can be called on the telephone to tell her that you will be home for good next week!

Trading

"What relevance does the above lecture have in relation to trading"

"Mr Pelt, seen as you are the only idiot who is currently opening your mouth, discuss " :)
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Obviously I missed the lecture :(

Duty of Care:
  1. existence of a legal duty that the defendant owed to the plaintiff
  2. defendant's breach of that duty
  3. plaintiff's sufferance of an injury
  4. proof that defendant's breach caused the injury (typically defined through proximate cause)
"What relevance does the above lecture have in relation to trading":
  1. Under "normal" market conditions my expectation is, that the market continues to operate in that direction - or if proved wrong does not go into that direction
  2. point 1. fails - the market does not operate as "normal" conditions or expectiations would suggest
  3. [Obvious] Breach of the potential Stop Loss of one of tow sides (Buy or Sell - you may choose)
  4. The breach of Stop Loss is followed by immediate [...through proximate cause] signs of weakness
 
M4-1 said:
"If the participants have different goals and needs, Mr Pelt, what does that tell us about them"?
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if in different needs, participants will have to act differently to reach their goal - so tactics of market participants in varying markets may differ.
 
M4-1 said:
the key you see..it just may be
between the ears..behind the tears
to use it right..forget all shite
just look and see..what really BEE :)
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Some smart guy once said, "all u need is ur 2 eyes..a simple chart..and a straight edge.."

One other guy also said something about the "BE method," I.e., using your brain and eyes.

Another mention of the prerequisite was, "Chart reading skills are a pre-requisite to successful trading." Maybe this is meant in the LITERAL sense, as in the WAY you read the chart?

I think the above ideas, lend to the notion that, it is all in the way we PERCEIVE the information that may be key.

Our mind/eye connection does play tricks.
 
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M4-1 said:
it now gets a bit harder as the first lecture is over :)

"Mr Pelt, if a person is Deaf and Blind, do you think that they Can easily Fall "?

if you are smart..and i mean really smart..you will work this out very quickly..but..do not let that put you off..remember.. question..answer.. question.. answer
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My 2 cents:
  • deaf persons inner ear is affected, coordinating the sense of balance; the eyes compensate for orientation
  • blind persons have an intact inner ear - coordinacting the sence of balance
  • deafblind persons suffer from both disadvantages - but can use a blindman's stick
maybe not really smart, but that is my answer
 
Ed48 said:
A few guesses for the obvious pre-requisite to success:

a) You have to know what you're actually doing. (How many embark on this pursuit not really having the first clue how to take money from the market?)

b) You have to use a proven approach. (No amount of risk management and position sizing can turn a sow's ear into a silk purse.)

c) You have to be able to identify entries where the odds are in your favour. Where price is more likely, than not, to immediately move in your direction. (It's better if a trade starts off on the right foot showing a profit, rather than going nowhere/sideways or showing a loss.)
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I have had a few thoughts on point C: what every body focus on (me included) is better odds of price moving in your favor, so most of the focus is deciding between going long or short. I am coming to think that while you need to chose between the two, I am moving the focus from where to place the entry order to where to place the stop order (weather it is a physicals order or a mental one), it may seem obvious and a consequence of the location of the entry order but in fact I think it is different as I move the focus from where I think the price will get before moving away to where the price should not get for my hypothesis to true. does it make sense?
 
Ed48 said:
A few guesses for the obvious pre-requisite to success:

a) You have to know what you're actually doing. (How many embark on this pursuit not really having the first clue how to take money from the market?)

b) You have to use a proven approach. (No amount of risk management and position sizing can turn a sow's ear into a silk purse.)

c) You have to be able to identify entries where the odds are in your favour. Where price is more likely, than not, to immediately move in your direction. (It's better if a trade starts off on the right foot showing a profit, rather than going nowhere/sideways or showing a loss.)
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E48..if the above are all correct..then what could be so obvious that it is not so obvious ?
 
Nemesis said:
So many riddles for which it is often impossible to know what was in mind when stated.

What is obvious to me for trading:
An opportunity is a pre-requisite, a situation that has potential to be exploited for gain, and also of course, a trading method is required ready to be used when an opportunity presents itself.

A successful method is obtained from an initial idea and refined from experience gained.

Secret knowledge known to a select few? There is no such thing as far as I am aware, but those who have faith in the existence for such knowledge will waste precious time seeking it from others, when in fact they should look within themselves for answers.

In the context of recent discussion, the prior days high, low and close are often important levels at which price stalls or hovers around. Whenever price stalls for a while at such a level, often in the period after the market open, eventually price breaks up or cascades down. Similarly, opportunitites exist around market announcements.
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sounds logical..if "secret knowledge" is available to some..in what format do you think this knowledge is..for example..is it insider news which of course happens and some have paid the consequences..is it the workings of new technologies..or what else do you think it might be..to be of use to the "plebs" ?
 
fairvalue said:
Obviously I missed the lecture :(

Duty of Care:
  1. existence of a legal duty that the defendant owed to the plaintiff
  2. defendant's breach of that duty
  3. plaintiff's sufferance of an injury
  4. proof that defendant's breach caused the injury (typically defined through proximate cause)
"What relevance does the above lecture have in relation to trading":
  1. Under "normal" market conditions my expectation is, that the market continues to operate in that direction - or if proved wrong does not go into that direction
  2. point 1. fails - the market does not operate as "normal" conditions or expectiations would suggest
  3. [Obvious] Breach of the potential Stop Loss of one of tow sides (Buy or Sell - you may choose)
  4. The breach of Stop Loss is followed by immediate [...through proximate cause] signs of weakness
More...

now..this is where it gets interesting..

Deaf Blind Can Fall

Duty
Breach
Causation
Foreseeability

unless you can fully explain all of the above to the professor..off the top of your head..without thinking twice about it..then you are next in line for the dime to ring home :)
 
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