Yukoner and JSmith discuss - feel free to weigh in

[J_Smith]

For me (even though there is no such a thing as a "me", "I" nor the "self").
A method that can be relied upon and applied to the market that has consistent repeatable opportunities.

Before we move on Blueline, surely you are you ?

 

[J_Smith]

J_S (if I may):

Experience has taught me that the market gives a shit about what I think -- be it what should/will happen next, why somethings happen, or how the market works. I generally refrain from such discussions because I don't have anything useful to contribute ('cos I don't know how a market works or why something happened; the only hypothesis I have is that a convergence of traders' opinions move price. Here again, I can't prove it! But it seems plausible to me), and I find such discussion counter productive to the task at hand -- trading.

With this said, I will sign off.

All the best.

Regards,
Monoid.

Monoid,

I think you are correct in saying if anything has a negative effect on your trading, then you should stop what you are doing.

However, at times some discussions may appear to be counter productive, but can easily turn, just like a trade itself.

One thing that I do not like myself, is posting as if I know everything by the words I use, so from now on I am going to try and stress that every post I make is purely my own thoughts, which may or may not suit whoever reads my posts.

J_S

 

[Blueline]

Before we move on Blueline, surely you are you ?

Yes indeed, I thought you might recognized the deeper meaning. Maybe another time.
Looking forward to this thread.

 

[J_Smith]

Yes indeed, I thought you might recognized the deeper meaning. Maybe another time.
Looking forward to this thread.

Did you mean in relation to trading?

J_S

 

[Blueline]

Did you mean in relation to trading?

J_S

yes.

 

[J_Smith]

I had an idea that was what you were on about, but was not fully sure, for you could have been talking about religious stuff, which we do not want to get into.

Anyway, I have thought of one word to express what I think is the most relevant piece of information that I have learned to date, but it means a lot more than one word.

A.C.T

or

I must ACT

J_S

 

[deaddog]

A question for anyone who wants to answer.

At this stage of your development as a trader, what do you now consider to be the most relevant piece of information that you have acquired to date ?

J_S

I can not win every trade.

A successful trade is one where you followed your plan.

 

[J_Smith]

I can not win every trade.

A successful trade is one where you followed your plan.

The trade may not be successful just because you followed your plan deaddog, but I know what you mean.

Some of my thoughts.

The only certain thing with trading is that you can lose money, and a lot more than you originally thought if you are careless.

If you learn not to lose too much then you might last long enough to learn what you need to do so that you can make some money.

I like to remind myself with 3 simple words, and they are "I must ACT"

A = Awareness ( I must be aware of what is happening globally and market specifics ).

C = Control ( I must do what I need to do by having a solid plan - written or mental ).

T = Trading ( I MUST TRADE or I will never get anywhere and just waste most of my time reading things that do not really matter. I have to learn the difference between high/low probability trading as soon as I can ).

J_S

 

[deaddog]

The trade may not be successful just because you followed your plan deaddog, but I know what you mean.

To my way of thinking the trade will have been successful if I followed my plan. There are 2 possible outcomes for a trade. Either I take a small loss or I take a profit. That is the relevant piece of information I have picked up.

You can have a successful trade with a bad outcome.

Some of my thoughts.



I like to remind myself with 3 simple words, and they are "I must ACT"

A = Awareness ( I must be aware of what is happening globally and market specifics ).

You need to be aware of what the market is doing. You don't have to know why.

C = Control ( I must do what I need to do by having a solid plan - written or mental ).

I highly recommend written, mental leaves you open to your emotional bias when in a trade.

T = Trading ( I MUST TRADE or I will never get anywhere and just waste most of my time reading things that do not really matter. I have to learn the difference between high/low probability trading as soon as I can ).

J_S

I'd say T = training (I should never make a trade until I have a strategy that I have traded profitably following my written rules on a demo account in real time)

 

[J_Smith]

To my way of thinking the trade will have been successful if I followed my plan. There are 2 possible outcomes for a trade. Either I take a small loss or I take a profit. That is the relevant piece of information I have picked up.

You can have a successful trade with a bad outcome.


(A)You need to be aware of what the market is doing. You don't have to know why.

(B) I highly recommend written, mental leaves you open to your emotional bias when in a trade.

(C) I'd say T = training (I should never make a trade until I have a strategy that I have traded profitably following my written rules on a demo account in real time)

(A) Agree 100%

(B) Agree 80% - mental can be sufficient once you have adequate experience and cut all the irrelevant stuff from your written plan - but I think you are correct in what you say for those who are starting out.

(C) Disagree 80% - I think after training you should be able to effectively use what ever platform you are using, after that trading is the best way to learn - there is nothing like live training to teach you the hard lessons that you need to learn, as there will be many, no matter how good you think you might be. So T stays at trading, for me at least.

Good discussion.

J_S