Calling all "Senior Members T2W" Experienced traders! Help Newbies?

[nbo2]

Kevin,

It becomes a simple equation. Follow a simple winning method, simply and consistently and you consistently win over time.

Do something else and get a different result. You, yourself are confirming this.

Its a simple set of instructions to carry out.

If there is no faith in the instructions/method, then observe and practice on paper for 1 month (or 2 or 3 if necessary). Seeing them produce the same result time after time after time will provide that confidence.

Again a simple solution to a simple problem.

nbo

 

[dbphoenix]

LOL

Ya Know, A simple Glossary will answer those things. (in spite of the fact that the terms are self describing by their names. It doesn't take much imagination...)

As to how long/how far? as long/far as it takes surely! All it requires is observation to find out how/far that is.

Why make simple things complicated?

nbo

Surely

I once offered a method that took only 3 or 4 lines. By the time I finished answering questions about it, it had grown like a cancer.

Suggest your method in the First Steps forum. And good luck.

 

[dbphoenix]

What few people understand about "simple" is what it takes to reach simple. Olympic diving looks simple. Abstract art looks simple. As do the Ten Commandments.

Once you start teaching this stuff to other people, you'll have a whole new appreciation of "simple".

 

[nbo2]

I'm sure it would if you start making it complicated.

Keep it simple. Where is the difficulty with that?

nbo

 

[nbo2]

Funny enough, I recently have been. And no it didn't get complicated...

nbo

 

[kevin546]

Nbo

I quite agree, and that is exactly what I did. Evaluate and continue to do so. Trading then becomes the effortless and repetitive process of applying the method correctly. The effort is in the construction and understanding of the correct method IMHO.

Regards

Kevin

 

[dbphoenix]

Funny enough, I recently have been. And no it didn't get complicated...

nbo

Key word here is "recently". But you may be able to do what others have not.

As I said, good luck.

 

[nbo2]

LOL. Now why would 'recently' suddenly become a key word?

Could it be because the whole world of trading is geared by the brokers, the market makers, the software providers, the fund managers, and so forth to make it as unintelligible as possible and a mystical dark art so that they have the advantage of doing simple things while everyone else flounders around trying out complicated stuff thus ensuring they continue to make their money out of the unsuspecting? Just by any chance perhaps?

Could it be that by training people to keep doing simple things that work , simply, routinely and consistently cuts through all that and gets right to the heart of things - a simple strategy they can routinely apply profitably?

Now what could be so complicated about that?

nbo

 

[nbo2]

Kevin.

Looks like we are in agreement on all but one point. I have absolutely no idea how/why a car works. I certainly couldn't build one. Yet, I can drive one...

nbo

 

[dbphoenix]

LOL. Now why would 'recently' suddenly become a key word?

Could it be because the whole world of trading is geared by the brokers, the market makers, the software providers, the fund managers, and so forth to make it as unintelligible as possible and a mystical dark art so that they have the advantage of doing simple things while everyone else flounders around trying out complicated stuff thus ensuring they continue to make their money out of the unsuspecting? Just by any chance perhaps?

Could it be that by training people to keep doing simple things that work , simply, routinely and consistently cuts through all that and gets right to the heart of things - a simple strategy they can routinely apply profitably?

Now what could be so complicated about that?

nbo

Well, I admire your pluck at least.

Here's simple: buy retracements that occur after breakouts.

That's it. How can you get more simple?

If you do nothing more than incorporate the answers to my questions into your simple method (and I have plenty more), it has already become considerably more complicated.

As I said, simplicity is achieved only after a great deal of work. Otherwise, anyone who bought an FX Made Easy kit would be financially secure forever.

 

[kevin546]

nbo

Interesting thought. Are you suggesting you know how to apply your method but do not understand it. By confirming your plan and creating it you must develop knowledge of what to expect and what to do if it does not. This may also be visual appreciation of the market behaviour but it is still knowledge is it not.

On that basis I would suggest we agree ?

 

[kevin546]

What is simplicity for one trader maybe complicated for another. Simplicity is what our goal should be and is attainable. I personally believe it only comes after correct knowledge of the market and your method.

Regards

Kevin

 

[nbo2]

Now that looks like setting out ot make trading more complicated to try to prove a point?

Why not try keeping it simple? Irradicate all the rubbish that abounds and follow simple rules? I find it hard to understand why people just don't do that? Surely its the smartest approach isn't it?

nbo

 

[kevin546]

Not at all. Yes keep it simple. But to apply a method correctly you have to understand it. By all means keep it simple but you must understand the plan or you will not keep to it. You have a set of rules if you do not understand them you are suggesting following them blindly. You have made decisions to formulate your method and that comes from knowledge does it not.

 

[nbo2]

Kevin.

When that method was first taught to me 'x' years ago, I had little or no market knowledge. It was the first method I ever learned and I was taught to do xyz routinely. I didn't understand it or the markets or very much about anything. I knew how/when to make the trades from what I'd been taught.

That was the first method I was allowed to trade. Gradually over time my knowledge increased and I understood more about what I was doing, and why it worked. But, in the meantime I was at least making my employers profits...

So, no - I didn't devise it - I can't take the credit for that, neither can the people who taught it to me nor those who taught it to them etc... No I didn't understand it either. I just did what I was told and it worked...

nbo

 

[nbo2]

Kevin

The reply one before last was to dbpheonix.. apologies for any misunderstanding.

nbo

 

[kevin546]

Fair enough in the circumstances you describe.

However, were you trading from an office with other employees around you. Moreover are these not different trading circumstances and conditions than how the average private trader starts out. You had to follow the rules because you had no choice otherwise your employers presumably would want to know why you deviated from the rules given you. This pressure was a force to keep you on the right track. New traders do not have this luxury and therefore that is why I feel they need to know what they are doing and why so they can put it right.

Unless they are trading in a specific environment or conditional element they cannot normally keep to the level of discipline required as you did through the benefit of employers and the knowledge other people's money was involved. If we had a tutor standing over us having told us what to do then it is reasonable to assume a greater number of trading students would do as they were told knowing the teacher would not be pleased if we did not do as we should have..

If a private investor was given the same method and rules without conditions I wonder if without support and left to there own devices how well they would keep to the rules if they took a few losers. If they were only responsible to themselves would they still maintain the discipline. They might but I suspect the results would be not as high as your own circumstances when you first started out with your employers.

But in the circumstances you have described I accept that yes it would work . It's like holding a gun to your head if you did not follow those rules so you are bound to.

Regards

Kevin

 

[Gardan]

nbo2, Hi and welcome,
I have been reading and studying quite a bit of stuff. If you have read any of my posts I have mentioned only be doing it for two months. Twelve hours a day hard labour..ha..ha (only twelve some might laugh, other commitments sorry,Know i'm a big sissy)

My question which I am sure is covered else where but interested in your view, is, how do you find the stocks you are going to trade?

If it's a silly question please ignore.

Thanks Gary

 

[kevin546]

Are right, never mind eh!

Confused it's certainly easy to become so! LOL

 

[kevin546]

Garden

There are programmes available where you can enter specifics requirements and press the button and hey presto you get a list of companies that meet your requirements either for entry or close to it. It is a matter for you to select the parameters. You then just look and decide which you feel are worthy of further attention. I do not do this because I only trade one instrument but I am aware of traders who do this for swing trading purposes among others.

Kevin