How To Trade: Full Stop

[DionysusToast]

I will have a look and see what I think, do you have the pdf link to save me looking it up:?:

TE

Switch your PMs on for a bit & I'll send you the link...

 

[elitejets]

Good grief everything is a riddle or a secret here, and its completely unnecessary.

Attached.

 

[DionysusToast]

and here's me thinking T2W may object to putting copyrighted material directly on the site

I give your post 8 hours.

 

[elitejets]

Keep your hair on Toast, It will be gone in 8 hours
Anyone wants it they better be quick

 

[The Expert]

Hello TE, i was reading your posts, and also last one when you wrote a “poem”, have to say you the truth – I don’t really understand, maybe because English is not my mother language, or maybe I’m too stupid… Maybe you can explain me in plain English, or just with another words.

Barry Rudd Is OK
For The Wiggle, Shows The way
The Way Being Clear, Is Not The Be
And End Of All, Will Make You Tall

When You Are Tall, You Will Look Down
And See What They, Will Not Today
Once You See, You Will Know
This Game For Sure, Is All So Pure

He Comes Spot On, Just Like a Song
The Beats Do Follow, Into The Hollow
In You Must Go, And Also Know
That Time Is Near, And Yet So Dear

He Hits The Note, Just Like A Gloat
The Hollow Space, Is Filled With Grace
Out You Must Be, Else You Will See
A Fool to Be, Is So, So Easy

The Expert, aka, TE

*************************************************

Let me try and summarize what is really required.



Now AV, read the words again and say what YOU think:?:

TE

 

[avasfx]

Barry Rudd Is OK
For The Wiggle, Shows The way
The Way Being Clear, Is Not The Be
And End Of All, Will Make You Tall

Don’t know, haven’t read non of his books

When You Are Tall, You Will Look Down
And See What They, Will Not Today
Once You See, You Will Know
This Game For Sure, Is All So Pure

This can basically come to money management – keep your risks low, while give your profits run. Risk reward ratio. Some say it’s the essence in this game of probabilities. But I think it is more depends from the system, from its expectancy.

If swing trading forex I’m not looking at RR ratio at all, what for? if my system generates high probability signals, and even if I’m wrong will close my position manually before hitting s/l order. But as for daytrading stocks (which I started a few weeks ago) I see it from another angle – here I consider RR ratio very important.

He Comes Spot On, Just Like a Song
The Beats Do Follow, Into The Hollow
In You Must Go, And Also Know
That Time Is Near, And Yet So Dear

He Hits The Note, Just Like A Gloat
The Hollow Space, Is Filled With Grace
Out You Must Be, Else You Will See
A Fool to Be, Is So, So Easy

The Expert, aka, TE

To translate it: if you understand what is RR ratio and will implement it…

Let me try and summarize what is really required.



Now AV, read the words again and say what YOU think:?:

After connecting this image to the above statements about RR ratio - cant agree with picture. Risk can’t be the same as reward. The balance should be moved to “return” side!
Have i catch something out of your post?
Alex

 

[Trader333]

Risk can’t be the same as reward

It isn't the same (as in equal), but risk should be "balanced" by the reward.


Paul

 

[The Expert]

This game is all about money, making money and losing money.

For some silly reason, most think, that when they place a trade they should be right, and so should win

The reality is such that, as soon as you are filled, the market can go anyway and thus you WILL either win or lose.

How much you will win or lose will depend on your size, so, you must know when you SHOULD have the correct size.

However, there is something far more critical in the equation, for, if you are not able to get IT right then you will never make any real money worth talking about, and thus, will be resigned to the league of the so called 95%:whistling

Practice makes perfect, BUT, make sure you practice CORRECTLY, or, you will never be a profitable trader.

I received an e-mail today from a very old acquaintance, who is now running 2 live trading rooms, one for FX and one for ES, and I laughed when I read the e-mail, for, the "brilliant trader" that was heading up one of the live trading rooms, has, decided to leave as he has got a job with some "hedge fund" company

Now, if you received an e-mail like that, what is the first thing that enters your head:?:

TE

 

[The Expert]

Brilliant ! Indeed - I think his book is about the only one I've ever seen on day trading stocks that spells out what actually goes on. Not sure TE would agree with the contents though...

If you are talking about the "trading on momentum" book, then, loathe though I am to say it, I must agree with the other fellow that said it was stupid, for, it is not just stupid, it is downright silly

As mentioned, there are very few books written about trading that are worth reading, and even with those few you must be very selective and just pick the good bits out, for, if you pay too much attention to the words you will just waste a lot of time and really get nowhere, for, I know, as I was "once that soldier", until, I woke up and started using my brain, which, is better than any computer, in fact, man will never build a computer or write a programme what will come anyway near the power of the human brain

If you like DT, post what you think this "momentum" fellow thinks he has mastered, and, we will then see if we can pick any holes in it :cheesy:

TE

 

[DionysusToast]

The book in question is all about watching and learning. In this respect I think it is way above any other book out there, most of which attempt to impose a set of rules that don't work up onto their readers. There's a few things in the book that didn't sit well with me but the message of watch and learn is what this book is all about. It also sets up a framework in which someone new to the game can log what they watch so that they can learn from it.

This week was pretty poor for daytrading in my opinion - not much news to speak of & not much volume. I stuck with the bigger named stocks, watching a bunch of them, waiting for one to move to a point where I thought it was overextended and then riding it in the opposite direction.

This was done watching the 40 stocks on a L1 screen. The daily ranges were well down - with only 3 out of 40 on Thursday exceeding their daily range but there were still opportunities and those that got overextended offered up some cents. Watching & learning...

The bits on daily range and "Trading Attitude" are also interesting

 

[DionysusToast]

Now, if you received an e-mail like that, what is the first thing that enters your head:?:

TE

The guy obviously can't make a living trading his own account.

So he gets to trade other people's accounts - people that will pay him for the service of losing their money for them.

BTW - how do you run 2 live trading rooms at the same time ? The mind boggles...

 

[The Expert]

The book in question is all about watching and learning. In this respect I think it is way above any other book out there, most of which attempt to impose a set of rules that don't work up onto their readers. There's a few things in the book that didn't sit well with me but the message of watch and learn is what this book is all about. It also sets up a framework in which someone new to the game can log what they watch so that they can learn from it.

This week was pretty poor for daytrading in my opinion - not much news to speak of & not much volume. I stuck with the bigger named stocks, watching a bunch of them, waiting for one to move to a point where I thought it was overextended and then riding it in the opposite direction.

This was done watching the 40 stocks on a L1 screen. The daily ranges were well down - with only 3 out of 40 on Thursday exceeding their daily range but there were still opportunities and those that got overextended offered up some cents. Watching & learning...

The bits on daily range and "Trading Attitude" are also interesting

Well DT, I will be honest, and say that I just browsed thru it, and, what I saw was not enticing me to read any further, as if I can not see some juicy bits in a quick scan then odds are it is just like the rest of the crap out there, and not worth the time and effort for further investigation.

Of course, you must know what the juicy bits are, for, if you do not know then how will you see them :smart:

BTW, and don't be afraid to speak the truth now, have you learned anything of value AT ALL from what I have posted, and, you know what determines your answer, for, there is only one thing that this game is all about, and, everything else is irrelevant

TE

 

[The Expert]

The guy obviously can't make a living trading his own account.

So he gets to trade other people's accounts - people that will pay him for the service of losing their money for them.

BTW - how do you run 2 live trading rooms at the same time ? The mind boggles...

The guy who was "heading up" the ES trading room is just another trader with a little bit of experience, nothing more:whistling

There is another guy heading up the live FX trading room

The boss sits back and gets suckers to pay him $250/mth, with a target of 70 traders in each room.

That makes a target profit of 250 x 70 x 2 per mth, or $35K/mth.

Now, if these guys are as good as they are letting on to be, then why do they need to try and take $35K of suckers, and, the real funny part is that most of the suckers have already paid this fellow for a trading course in the past

If one want's to become a successful trader, then, one must face up to some hard facts and realize that someone else will never make it happen for you, and, the only person who can make it happen is yourself, well, maybe The Expert is an exception:smart:, but TE will never take money from others for helping them help themselves, so, naturally, no one will ever approach TE, as most are like women, and feel that unless they are paying out a heap of money for something, it is really no good

The majority of traders will never make real money trading as they are lacking one very important thing, and, if you do not know what that very important thing is, then, odds are that you are not making real money, AM I RIGHT OR NOT :!:

TE

 

[The Expert]

OK then, here is a line
--------------------------

What has gone before this line is now irrelevant, for, this is how you must learn to think and act when trading.

Now, if those who have interrupted and wasted time come back and do same, then another line will be drawn, and, you will see what that means when it happens.

With that, let us move on and discuss what needs to be discussed, and what is discussed will depend on what is posted.

Remember, there is no right way or wrong way to trade, there is only ONE way, and that is the way that makes you money, for, everything else is just pure and utter b.u.l.l.s.h.i.t, for, how can it be any other way!

TE

 

[kimo'sabby]

OK then, here is a line
--------------------------

What has gone before this line is now irrelevant, for, this is how you must learn to think and act when trading.

Now, if those who have interrupted and wasted time come back and do same, then another line will be drawn, and, you will see what that means when it happens.

With that, let us move on and discuss what needs to be discussed, and what is discussed will depend on what is posted.

Remember, there is no right way or wrong way to trade, there is only ONE way, and that is the way that makes you money, for, everything else is just pure and utter b.u.l.l.s.h.i.t, for, how can it be any other way!

TE

Trading utopia can easily be written by any fool, but only the gifted can produce in real-time.

 

[The Expert]

Trading utopia can easily be written by any fool, but only the gifted can produce in real-time.

I am already considering drawing another line, but, I will not for now.

This thread is not about The Expert, it is about those who are in search of what trading is about, for THEM.

The Expert knows that he knows nothing, and it is this knowing that has led to The Expert discovering what is required in order to become a profitable trader.

A monkey can produce in real time, for that is the easy part

There are many traders out there, many who sit behind suckers money and trade big size all day, and make big profits, but, ask them to trade their own account for a living and you will quickly see how thick they really are

For the record, The Expert has no interest in helping out those who have big money, for, if they already have big money then they do not need any more:whistling

The Expert, will, however, try and help those who have small money, for, The Expert was once like that, and, The Expert worked long and hard to turn that around, and, during that process The Expert discovered what works best for those with small money, and what does not work best.

The Expert is not called The Expert for nothing:smart:

 

[kimo'sabby]

I am already considering drawing another line, but, I will not for now.

This thread is not about The Expert, it is about those who are in search of what trading is about, for THEM.

The Expert knows that he knows nothing, and it is this knowing that has led to The Expert discovering what is required in order to become a profitable trader.

A monkey can produce in real time, for that is the easy part

There are many traders out there, many who sit behind suckers money and trade big size all day, and make big profits, but, ask them to trade their own account for a living and you will quickly see how thick they really are

For the record, The Expert has no interest in helping out those who have big money, for, if they already have big money then they do not need any more:whistling

The Expert, will, however, try and help those who have small money, for, The Expert was once like that, and, The Expert worked long and hard to turn that around, and, during that process The Expert discovered what works best for those with small money, and what does not work best.

The Expert is not called The Expert for nothing:smart:

No no no!

Big money, small money!?

It doesn't work like that, there are only ratios. Anything else is ego.


Does the Expert have an ego?

 

[Martinghoul]

The Expert is not called The Expert for nothing:smart:

By whom, other than The Expert himself, is The Expert called The Expert? Just curious, is all...

 

[The Expert]

No no no!

Big money, small money!?

It doesn't work like that, there are only ratios. Anything else is ego.


Does the Expert have an ego?

Of course The Expert has an EGO, for, every human being has one:smart:

Again, we start to drift and get into the rubbish talk.

But, as I must be questioned by others so that those who are learning can see, then so be it, for, I must be willing to take what I can give, which I am, as you can see from my EGO:cheesy:

Now, let me reiterate.

retail traders > private accounts > not profitable > need to change > need to know difference between rubbish and what works best > must be willing to ask the right questions

The rest, as far as I am concerned, can do as they like, for, I really don't care what they do, as, I am only interested in helping those who help themselves, and others.

 

[The Expert]

By whom, other than The Expert himself, is The Expert called The Expert? Just curious, is all...

Matter it not what I do, Matter it most what I say :!: