I Bet You Think You Are..., But Are You Really Actually Even Trading???!!

[Mr. Charts]

Equity markets are about 20% auto trading of one kind or another, and 80% sentiment - which includes over-riding black box decisions. With smaller stocks the sentiment %age is higher, with very large stocks the "auto" %age vastly higher.
Richard

 

[gooseman]

the geezer has been spread betting for about 10 minutes and he has so far claimed he is better than goldmans and morgan stanley, he is a trader wheras many aren't and his speciality is trading reversals.

 

[prop]

i bet he drinks carling black label !

 

[Crap Buddist]

yeah and don't forget We ain't young enough to know everything!

 

[Mr. Charts]

I look in on these S89 threads when I want a laugh, but it's sad to see so many people taking him seriously. However, the lure of easy money and no work and thinking the market is just a casino will attract many who are blind to reality and think they can make lots of money easily.
Advice to them and to S89 goes completely unheeded - it's a waste of time for those of us offering genuine advice - people who have traded and lived off the markets for years and actually know what to do, when and how.

They will rant and rave,
All the way,
To the trader's grave.
Richard

 

[Hoggums]

i bet he drinks carling black label !

Nah carlsberg, cos he's probably the best trader in the world.

 

[Mr. Charts]

home brew more like....bought beer costs money

 

[Hoggums]

And he can't give a XXXX about what anyone else says..

 

[Mr. Charts]

Is S89 actually real or a creation of Sharky designed to outrage and increase the number of hits on the site?

 

[Mr. Charts]

It's ok Paul - only kidding.
No-one could create such a persona

 

[Crap Buddist]

he's only a teenager though ? give him another 4-5 years, then see what he is like. he's got spunk ,but that flying all over the place, needs guided direction/control/discipline and not many teenagers buy into that ? mid/ late 20's maybe ....?

its all a bit kevin n perry at the moment ! think its them ...

 

[Yokiro]

This whole threat is summarized by saying it all depends on how you view the forex market. Do you see it as a business, a casino, or just a game?

Personally, I'm into forex for the long-run; that is why I view, treat, and trade it as my business. Every single person needs to ask themselves: "Why am I into forex?". Depending on your personal answer, you will then determine what is the way you will view, treat, and trade the market.

 

[accendotraders]

Well, I appreciate that at least you provoked a discussion about the Psychology of traders. Both new and experienced traders tend to overlook this important part of being a successful and consistent trading. I also like that you have system/trade plan designed that your followed. Yet another key step that most traders skip or ignore. It is very important to find a style/strategy and stick to it. So if you strategy works for you - more power to you.

To often, traders just make blind trades because a friend told them about it, saw it on a forum or read it in a newsletter. Although, I certainly endorse all of those as factors one may consider, successful traders are able to make trade decisions based on a system/trade plan that every stock needs to go through before each and every trade decision.

To key question you need to ask yourself before pulling a trigger is why am I buying this stock and more importantly what is my exit strategy. All of the above and most of what is included in the posts in the threads are facets of developing a successful trade plans. We need trade plans in order to be a consistent trader. To be able to reproduce trading opportunities day after day.

 

[developinghometrader]

The reason im consistently making so much profit now is because i 'position trade', but actually trade with the 2nd view of the market, and so accept that you do have to let smetres go into a big loss for a few hours or dayseven before you make profit on it.

I agree...I am a newbie trader and find that I lose many more trades when using a small stop loss. I set my stop losses near support or resistance levels. I find that the majority of my positions will go the wrong direction initially, but eventually end up in profit.

 

[Lee Shepherd]

I agree...I am a newbie trader and find that I lose many more trades when using a small stop loss. I set my stop losses near support or resistance levels. I find that the majority of my positions will go the wrong direction initially, but eventually end up in profit.

Then my friend you are not trading...simply gambling.

What your saying is (and traders will understand this more than you) :

I get in and then the market moves against me to the point that I haven't got a clue so I move my stops or have giant stops so that I wont lose any money. It worked yesterday and the day before so it must continue to work.

What any (real and experienced) trader hears is:

I dont accept losing money nor do I accept that I am wrong on any of my punts. I will gamble this way until I blow my account then I will give up, complain about the markets, try again or maybe, just maybe, start to listen to some of the very good traders that are here on trade2win.


If you want to call yourself a trader then start trading and give up the reckless gambling (save that for the horses)

Of course you wont listen to a word I've just said, I just felt like saying it anyway.

This bits for you:

Well done. I'm so pleased that you've cracked the market by using huge stops. If only I'd have thought about this strategy years ago. Good luck with your new found wealth. When I get some money up together I to will start trading this way then we can all be rich. Thanks for letting me know how to trade successfully.

 

[Chorlton]

I find that the majority of my positions will go the wrong direction initially

My suggestion would be to work on your entry condition then IMO, as your timing seems to be slightly out. Ideally, you want a trade to move in your favour as quickly as possible.

Chorlton

 

[Vaco]

There seems to be a new breed of sp89 style newcomers to these boards who have come here not to gain information and advice but instead seem hell bent on proving the tried and tested methods wrong.

oh well ho hum

 

[shadowninja]

There seems to be a new breed of sp89 style newcomers to these boards who have come here not to gain information and advice but instead seem hell bent on proving the tried and tested methods wrong.

oh well ho hum

Que sera, sera.

It concerns me, but those who see the light are the ones who are worth saving. The rest will bite the dust like the other 95%.

 

[shadowninja]

This whole threat is summarized by saying it all depends on how you view the forex market. Do you see it as a business, a casino, or just a game?

Indeed. I treat it as a business (when I started, there was a lot of gambling and chasing involved). I now, therefore, take more a more strategic approach, letting the market come to me, placing orders to capture the big moves. I may only trade once or twice a week (as opposed to my 50 a day scalping binaries... it wasn't as unprofitable as you might think but it was too much heart in mouth).

So, is it business or is it a game? It depends on the game. Some are playing Pong. I'm playing Chess.

The best bit about the way I now trade is that an order was touched on Friday, a friend popped round for tea, so we chatted for 3 hours while I watched the profit slowly increase, the PC managing my trailing stop. Now that's what I call working.

I did almost say, "Well, you've seen me work, now can I watch you work?" and I am sure she'd be able to arrange me to visit at her workplace but she's a surgeon. Perhaps, I need to find lap dancer friends...

 

[shadowninja]

Well done. I'm so pleased that you've cracked the market by using huge stops. If only I'd have thought about this strategy years ago. Good luck with your new found wealth. When I get some money up together I to will start trading this way then we can all be rich. Thanks for letting me know how to trade successfully.

It does depend on how far away his entry point is from the support/resistance level, of course. If it's 300 pips away then I agree with you; if it's just 20 pips away, then not so bad... he could be seeing whipsaws.