Cheers ammo,
The only reason I have stuck with it is because the upside potential can justify the time and money invested.
It's a bit like golf, just when you think you've got it nailed there is another lesson to learn!
I am accepting the reality that a supplementary income to take the pressure of the acc. would help just wish it could be in a market related job.
You know I am getting slowly mad at the firms that make so much money offering low margin and rewarding fast and frequent trade. I'm all for personal responsibility and no doubt it's offered many great traders a leg up but it makes mistakes so much more expensive than if you had to fund your whole position. I reckon a scheme where margin requirements fell with experience or each profitable year would be good for traders, if not brokers!
When I'm loaded I'll open a brokerage that teaches trading in the right way, slow, higher margin requirment, stops that can't be moved, rules you can force on to your account (eg it won't let you go short above a set lag if you order it to etc etc)
It'd probably go broke but maybe breed a good trader or two in the mean time!
Best of luck for the rest of the day
Stephen
The only reason I have stuck with it is because the upside potential can justify the time and money invested.
It's a bit like golf, just when you think you've got it nailed there is another lesson to learn!
I am accepting the reality that a supplementary income to take the pressure of the acc. would help just wish it could be in a market related job.
You know I am getting slowly mad at the firms that make so much money offering low margin and rewarding fast and frequent trade. I'm all for personal responsibility and no doubt it's offered many great traders a leg up but it makes mistakes so much more expensive than if you had to fund your whole position. I reckon a scheme where margin requirements fell with experience or each profitable year would be good for traders, if not brokers!
When I'm loaded I'll open a brokerage that teaches trading in the right way, slow, higher margin requirment, stops that can't be moved, rules you can force on to your account (eg it won't let you go short above a set lag if you order it to etc etc)
It'd probably go broke but maybe breed a good trader or two in the mean time!
Best of luck for the rest of the day
Stephen
andycan
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Thanks Andy.
I so regret not going to uni, getting a city job and some experience before going it alone.
overrated, the best university is the one of life the one where one makes his/her decision and lives by his/her rules
I thought I'd go it alone instead and it's proved expensive and at times lonely.
and if you stick to it you will be rewarded what goes round comes round
Just one week shadowing a good trader would change my life I'm sure.
im too busy at the moment but when i do have some time, i may do some live trading maybe a certain person will join in too
he knows who he is and it should prove to be great fun and interesting.😎
I guess it's trading from a point of desperation that makes it harder to take a loss and accept you're wrong; it's easier to have false hope than face the facts.
how about this: accept you are wrong and you need the market to prove you right
When I get to a point of financial comfort and can trade without as much pressure to have to make money each month I think taking the losses will become easier.
taking losses is a matter of training yourself, eventually taking a loss is just one part of business as usual mentality
its neither here or there but naturally this is accepted once you have demonstrated to yourself that you have an edge, that you can ride the losses because at the end you are winning in general
Sometimes I dare myself to take a loss and feel so proud having the balls to take it on the chin.
that may give you the wrong attitude not because you can take it but its well known that you learn from losses not the wins
accept the losses as lessons and the trick is not to keep repeating the same lessons
the understanding of why you take a loss
It's just the 'need' for money that throws what you know you should do and what you do in to conflict.
If anyone is a great trader or know's any that like tea on demand I'd love a day just to watch them work.
maybe so but in my experience to learn from a trader you have to understand their thinking
and 1 week wont do it infact it probably take you about two weeks for you to assimulate one piece of information
The problem is when you have 'done the wrong thing' hung on forever and finally it's come good it makes you think hanging on everytime will work.
yes and if you were investing maybe thats the approach but trading is about maximazing your capital sure you can go short see the market reverse against you and wait a few weeks till you get out breakeven or a small profit, but you will then need to explore what you could have done with your money in between you could have had several trades that would have made you far more than the hold hope and wait
I am 100% certain there are some people holding shorts on the FTSE from the 3,300 low.
Isn't human behaviour crazy sometimes.
im sure but im also sure they are no longer trading
Good luck this afternoon. I won't offer my opinion on today's price action as I'd obviously be talking my position rather than evaluating the facts!
no train yourself to have an opinion always have an opinion but also accept what the market is doing
dont blend them together unless it clear crytal clear.
I so regret not going to uni, getting a city job and some experience before going it alone.
overrated, the best university is the one of life the one where one makes his/her decision and lives by his/her rules
I thought I'd go it alone instead and it's proved expensive and at times lonely.
and if you stick to it you will be rewarded what goes round comes round
Just one week shadowing a good trader would change my life I'm sure.
im too busy at the moment but when i do have some time, i may do some live trading maybe a certain person will join in too
he knows who he is and it should prove to be great fun and interesting.😎
I guess it's trading from a point of desperation that makes it harder to take a loss and accept you're wrong; it's easier to have false hope than face the facts.
how about this: accept you are wrong and you need the market to prove you right
When I get to a point of financial comfort and can trade without as much pressure to have to make money each month I think taking the losses will become easier.
taking losses is a matter of training yourself, eventually taking a loss is just one part of business as usual mentality
its neither here or there but naturally this is accepted once you have demonstrated to yourself that you have an edge, that you can ride the losses because at the end you are winning in general
Sometimes I dare myself to take a loss and feel so proud having the balls to take it on the chin.
that may give you the wrong attitude not because you can take it but its well known that you learn from losses not the wins
accept the losses as lessons and the trick is not to keep repeating the same lessons
the understanding of why you take a loss
It's just the 'need' for money that throws what you know you should do and what you do in to conflict.
If anyone is a great trader or know's any that like tea on demand I'd love a day just to watch them work.
maybe so but in my experience to learn from a trader you have to understand their thinking
and 1 week wont do it infact it probably take you about two weeks for you to assimulate one piece of information
The problem is when you have 'done the wrong thing' hung on forever and finally it's come good it makes you think hanging on everytime will work.
yes and if you were investing maybe thats the approach but trading is about maximazing your capital sure you can go short see the market reverse against you and wait a few weeks till you get out breakeven or a small profit, but you will then need to explore what you could have done with your money in between you could have had several trades that would have made you far more than the hold hope and wait
I am 100% certain there are some people holding shorts on the FTSE from the 3,300 low.
Isn't human behaviour crazy sometimes.
im sure but im also sure they are no longer trading
Good luck this afternoon. I won't offer my opinion on today's price action as I'd obviously be talking my position rather than evaluating the facts!
no train yourself to have an opinion always have an opinion but also accept what the market is doing
dont blend them together unless it clear crytal clear.
Mr_Stochastyk
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smccreedy said:
No, I don't think that opening a short position in June contracts _right now_ is a better idea. It's like weather prediction: you can do ok in 1-7 days timeframe but you know nothing about what will happen in 3 months. As traders we have to maximize our chances, not gamble. Since yesterday we are going up and that's the best approximation of the near future.
Andre
im using big chart but the hi in spx is near 1457,hi -lo in mar oil is 5975-57.25,future sprd is $4 so that puts todays hi in es at roughly 1460-61...maybe im off by a point someone with more accurate lines might have 1455.5 as the resistance line in spx cashSlapshot said:
Digest all the info , but as Slapshot says always go with what your stuff is telling you 🙂..
At the Moment I'm trying to narrow down the turn dates as there's hits on the 23rd/27th & 8th of March, I need to break down the lower frame deltas to try and get a better idea of witch has the better odds 🙄
As for intraday..I'd like a new intraday high around 3 to 3:30 pm 😱
At the Moment I'm trying to narrow down the turn dates as there's hits on the 23rd/27th & 8th of March, I need to break down the lower frame deltas to try and get a better idea of witch has the better odds 🙄
As for intraday..I'd like a new intraday high around 3 to 3:30 pm 😱
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The 27th is a interesting date...
Martin Armstrongs 8.6 pi cycle is due on that date as well 😱 🙂
http://www.nowandfutures.com/buscycle.htm
Martin Armstrongs 8.6 pi cycle is due on that date as well 😱 🙂
http://www.nowandfutures.com/buscycle.htm
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Bez said:
Hi Bez,
Thanks for that. Where do see the INDU now, given last weeks' action? I would appreciate an update of your EW analysis.
cheers - Tricks
P.S. Is this thread dying a slow death? It certainly appears to have been ignored recently?
Come on fellow posters!
Hi Tricks,
It has been to quiet on here lately....
The INDU hit its 261.8% target so i wouldn't be surprised if we get a pull back from here...Time wise I would of liked the 23rd as a hit but the 16th also gets some triangle hits..(16, 26,42)
This is my alt bull count that keeps niggling me, which give the 8th of March as a low ...
It has been to quiet on here lately....
The INDU hit its 261.8% target so i wouldn't be surprised if we get a pull back from here...Time wise I would of liked the 23rd as a hit but the 16th also gets some triangle hits..(16, 26,42)
This is my alt bull count that keeps niggling me, which give the 8th of March as a low ...
