TA = Trading Attitude :eek:

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The Expert

The Expert

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The majority of people who try and learn how to make money trading turn to TA as a "means to achieving an end", but, the reality, is that it might well be an "end to achieving a means" :eek:

So, what does TA really mean, and I am not talking about the myriad of mathematical mysteries :rolleyes:

TE
 
Ask a Casino owner if maths plays a part in profitability...

Although I do agree that many analysts are probably motivated more by the PROPHET factor, than by the PROFIT factor.
 
as far as im concerned TA can be used to backup any theory. if you are bullish, you can find unlimited TA reasons to support that theory, if you are bearish you could do the same. people can claim they trade pure price action, but imo everyone has a bias of where they "think" the market should be going and they will use TA to support this theory whether it is right or wrong.
 
N Rothschild said:
as far as im concerned TA can be used to backup any theory. if you are bullish, you can find unlimited TA reasons to support that theory, if you are bearish you could do the same. people can claim they trade pure price action, but imo everyone has a bias of where they "think" the market should be going and they will use TA to support this theory whether it is right or wrong.
Click to expand...

Price charts are much like Rorschach Inkblots, different people will have different perceptions based on their beliefs and past experiences.
 
The Expert said:
The majority of people who try and learn how to make money trading turn to TA as a "means to achieving an end", but, the reality, is that it might well be an "end to achieving a means" :eek:

So, what does TA really mean, and I am not talking about the myriad of mathematical mysteries :rolleyes:

TE
Click to expand...



The term 'technical analysis' covers a wide variety of aspects, ranging from SR to P&F, candle patterns etc etc, we could go on all night and day about TA.

Composite market action.

The market moves as a composite entity, the effects and affects of player intentions move the market, second by second, minute by minute....and so on.

Everything can be seen in PA, we can see volume but we can also see open interest.

My question to the, Expert:

Can the Expert provide a real-time run through of his/hers trading activity within any one market of his/hers choice?
 
kimo'sabby said:
The term 'technical analysis' covers a wide variety of aspects, ranging from SR to P&F, candle patterns etc etc, we could go on all night and day about TA.

Composite market action.

The market moves as a composite entity, the effects and affects of player intentions move the market, second by second, minute by minute....and so on.

Everything can be seen in PA, we can see volume but we can also see open interest.

My question to the, Expert:

Can the Expert provide a real-time run through of his/hers trading activity within any one market of his/hers choice?
Click to expand...

The Expert has traded many markets, not ALL, but many.

The Expert has no loyalty to any market and will only trade the market that is offering the best possibility of a profit, aka, opportunity.

Question

Will The Expert give a live commentary on a market of choice:?:

Answer

Probably not, as it will not be worth the paper (or screen:cheesy:) it is written on.

Why is that:?:

Simple. The Expert does not try and predict what might or might not happen, for, The Expert only acts on what is happening in the here and now.

So, what will The Expert do:?:

The Expert will ALWAYS do what is required to be done in order to make money :smart:
 
The Expert said:
The majority of people who try and learn how to make money trading turn to TA as a "means to achieving an end", but, the reality, is that it might well be an "end to achieving a means" :eek:

So, what does TA really mean, and I am not talking about the myriad of mathematical mysteries :rolleyes:

TE
Click to expand...

Nothing wrong with winning trading whether TA, price action, or dart throwing. There are many ways to trade correctly. Money management is top priority over trading method. Everyone has to find their own comfort level which comes from experience.

Peter
 
Last edited:
The Expert said:
The Expert has traded many markets, not ALL, but many.

The Expert has no loyalty to any market and will only trade the market that is offering the best possibility of a profit, aka, opportunity.

Question

Will The Expert give a live commentary on a market of choice:?:

Answer

Probably not, as it will not be worth the paper (or screen:cheesy:) it is written on.

Why is that:?:

Simple. The Expert does not try and predict what might or might not happen, for, The Expert only acts on what is happening in the here and now.

So, what will The Expert do:?:

The Expert will ALWAYS do what is required to be done in order to make money :smart:
Click to expand...



Don't work yourself into a corner, i have plenty of questions for a trader like yourself. Try to keep yourself open to anything and any type of question.

You are the Expert.

You do not predict, you act on the here and now!?



How many markets do you trade at any one time?
 
wackypete2 said:
Nothing wrong with winning trading whether TA, price action, or dart throwing. There are many ways to trade correctly. Money management is top priority over trading method. Everyone has to find their own comfort level which comes from experience.

Peter
Click to expand...

I beg to differ Pete.

Of course there are many ways to ANALYZE a market prior to taking a position, but, as with everything in life, there has to be a better way, for, there is always a better way to do something, be it known!

You are of course correct in saying that MM is top priority, but, MM in itself will be of no use to a trader if they are unable to have their winners much bigger than their losers, and, the more winners with larger profits the better.

A trader should always strive to be better, but, better means only one thing, and that is, enough cash in the bank at the end of every week to pay all the bills with some left over for compounding and growing the trading account over time.

Time is money and every trader should use it wisely!

TE
 
Assuming you are winning the trading game then whatever method you use doesn't have to better than any others. You just have to be comfortable with it. There are countless traders doing much better than me but I am not comfortable using their preferred strategies. Of course if you are losing consistantly then that's another story.
Certainly we should all stive to be better but not at the risk of exceeding personal tolerances.

Peter
 
Sorry if I am derailing your thread, so for me a simple look at a chart will determine which direction I want, then TA or S/R will get me in and out at logical points.

Peter
 
kimo'sabby said:
Time!?

The professional outlook revolves around time in the market.

Besides the rank amatuer, who else wants to spend time in the market?

Time = risk



Discuss!
Click to expand...

DING DING DING...we have a winner.
I completely agree, which is why I am a scalp trader. The longer I am exposed to market forces the less comfortable I get.

Peter
 
The Expert said:
The majority of people who try and learn how to make money trading turn to TA as a "means to achieving an end", but, the reality, is that it might well be an "end to achieving a means" :eek:

So, what does TA really mean, and I am not talking about the myriad of mathematical mysteries :rolleyes:

TE
Click to expand...

I will expand a bit.

Lets say I am new to trading, and, having read a few books on TA, and asking a few questions on T2W and other trading related sites, I decide to start trading live.

Now, the main thing I have heard is that I must use a good broker like IB for cheap commissions ( btw, I have canceled my IB account many months ago), I must have the $25K to satisfy the pattern trader rule, I must have a good live date feed like E-signal (btw, I stopped using E-signal a long time ago), and, I must know how to read T&S and Lev II so that I can get in on moves before they happen :eek:

So many "I Must's"

Aha, wait a minute, what about my "Trading Plan"?

Did I take the time to write it all down so that I can stick it to the front of my multi monitor LCD setup and read it every minute of every day:rolleyes:

Now, most of the "I Must's" above are of limited value to any trader, and, even the $25K rule can be bypassed if one is smart enough.

If you do what everyone else does, then, you can expect to get what everyone else gets!

The best thing any trader can do is ask him/her self,

"Is there an easier and faster way to bypass all this crap and get straight to the bit where I should be doing what i need to do in order to make some real money?"

TE
 
"Is there an easier and faster way to bypass all this crap and get straight to the bit where I should be doing what i need to do in order to make some real money?"


OK, that make more sense.

Peter
 
The Expert said:
I will expand a bit.

Lets say I am new to trading, and, having read a few books on TA, and asking a few questions on T2W and other trading related sites, I decide to start trading live.

Now, the main thing I have heard is that I must use a good broker like IB for cheap commissions ( btw, I have canceled my IB account many months ago), I must have the $25K to satisfy the pattern trader rule, I must have a good live date feed like E-signal (btw, I stopped using E-signal a long time ago), and, I must know how to read T&S and Lev II so that I can get in on moves before they happen :eek:

So many "I Must's"

Aha, wait a minute, what about my "Trading Plan"?

Did I take the time to write it all down so that I can stick it to the front of my multi monitor LCD setup and read it every minute of every day:rolleyes:

Now, most of the "I Must's" above are of limited value to any trader, and, even the $25K rule can be bypassed if one is smart enough.

If you do what everyone else does, then, you can expect to get what everyone else gets!

The best thing any trader can do is ask him/her self,

"Is there an easier and faster way to bypass all this crap and get straight to the bit where I should be doing what i need to do in order to make some real money?"

TE
Click to expand...

my plan is my desktop background and my screen saver ;) good advice
 
kimo'sabby said:
time!?

The professional outlook revolves around time in the market.

Besides the rank amatuer, who else wants to spend time in the market?

Time = risk



discuss!
Click to expand...

t = t _ _ _ _ _

i = i _ _ _ _ _ _ _

m = m _ _ _ _ _ _ _

e = e _ _ _
 
Was only a matter of time before the riddles started I guess. My bad for thinking this was going to be a better thread.

Peter
 
wackypete2 said:
DING DING DING...we have a winner.
I completely agree, which is why I am a scalp trader. The longer I am exposed to market forces the less comfortable I get.

Peter
Click to expand...

There are horses for courses!

I sometimes trade without any stops, and, about 90% of those trades are winners, the rest I close out at what I consider an acceptable loss.

As I keep saying, if you do what everyone else is doing then you can expect to get what everyone else gets.

BTW, it should be obvious that if I am trading without stops then I have a valid reason and I am also using good money management technique. I do not suggest that every trader should trade like I do without stops at times, for, if they did, then they might just lose all of their money, but, this is a typical example of where trading without stops can yield high returns over several days, but, you must chose your markets very wisely and be not afraid to lose some money, as, the longer time you spend in the market the longer time your money is at risk, but as time is money, it can also work to your advantage, if you are smart and not the panicky type:)

TE
 
wackypete2 said:
Was only a matter of time before the riddles started I guess. My bad for thinking this was going to be a better thread.

Peter
Click to expand...

Well Pete, for those who will think it might just help them understand and remember, for, we must remember that a lot of people out there are not well up on this trading stuff, and they are really the ones I am interested in helping, not the guys who already know enough to survive, so, riddle it will be :cheesy:

TE
 
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