If You Can Draw A Straight Line (You Can Become A Successful Trader)

[tar]

Anyway, it's great there are people like you willing to give so much to others out of sheer kindness.

Best,

Markus

Not sure about that he's still a commercial member here and in other forums as well - nothing wrong with that - .

 

[dbphoenix]

While I appreciate the accolade, it is at least partly undeserved as the book in its entirety is not free, but I don't want to go on with that as we're getting into advertising. The precis that I uploaded to post #1, however, ought to provide enough information for someone who's interested in trading price to get started. Those who take to it easily may well need nothing else, except possibly the Developing A Plan pdf which I've also posted (there's also Tim's work on trading plans; as I remember, we each began these efforts at about the same time, and there are a lot of similarities). Unfortunately, few want to go through the plan process until they've lost considerable amounts of money. But that's always been the case. Aside from that, God knows I've made plenty of posts over the years. At this point, it's a way of paying it forward.

Sorry to hear about Brambles. He was sharp. Somebody ought to collect and consolidate his posts. Look at how the Phantom's work has circulated so widely. Now that's karma.

 

[BSD]

Right you are, POP's work was also among the very first things I read starting out.

There is a thread about Tony.

First guy I talked to here.

Real pity and very sad end.

http://www.trade2win.com/boards/foyer/202868-what-ever-happend-bramble.html

 

[BSD]

Oh and pehaps re books, didn't know DB was a commercial member here, but another trader I hugely admire and whom I learned a tonne from is Marty Schwartz, he wrote a great book, Pit Bull, and also sold that.

That's quite ok in my, err, book.

 

[tar]

That's quite ok in my, err, book.

Are you going to sell your book here as well

 

[BSD]

Haha no haven't written one.



Thing is it is true.

There is so much stuff that has disappeared from the web since I started out, and that's a mere 15 years ago, which isn't all thaaaaat much.

Entire websites gone forever, and not to be found via web archive either.

Web sites where you can't see the charts any more.

That's why it really is nice to have sites like this where more or less often you can have a chart with people who also go back quite a bit.

I really would have loved to be able to tell some people who aren't reachable any more how grateful I am to them for all they've given me.

I took bits and pieces from here and there and put them together in a way I felt comfortable with, but I can't deny that I have huge debts of gratitude to some extremely generous people without whom I wouldn't be where I am today, or without whom things would have taken way longer.

Buffy is definitely one of them, that's why I sent her a heartfelt Thank You email.

dacharts.com

Don't be deterred by the colourful charts of her's you'll find there.

;-)

Basically all she did was this:

http://www.trading-naked.com/MOF.htm

But essentially based on pure and simple price action:

http://www.trading-naked.com/Buffy_Price_Action.htm

 

[dbphoenix]

Right you are, POP's work was also among the very first things I read starting out.

There is a thread about Tony.

First guy I talked to here.

Real pity and very sad end.

http://www.trade2win.com/boards/foyer/202868-what-ever-happend-bramble.html

The older one gets, the more difficult it becomes to ignore the fact that there's an expiration date. And pulling one's own stuff together is hard enough. Pulling together somebody else's requires an exceptional devotion. But without that, many of these people will be forgotten entirely (does anybody remember the Plastic Tortoise?), and that's the real shame.

This thread is getting depressing. Time to get back to the topic

 

[counter_violent]

The older one gets, the more difficult it becomes to ignore the fact that there's an expiration date. And pulling one's own stuff together is hard enough. Pulling together somebody else's requires an exceptional devotion. But without that, many of these people will be forgotten entirely (does anybody remember the Plastic Tortoise?), and that's the real shame.

This thread is getting depressing. Time to get back to the topic

Actually DB, it does make you think about all the material that becomes lost over time.
Also, some of the exchanges between members was priceless.
Not to mention some of the admin, mod, legals and member "deleted exchanges"

I often look over the old deleted materials, some trading related and some just pure comedy genius.

 

[barjon]

While I appreciate the accolade, it is at least partly undeserved as the book in its entirety is not free, but I don't want to go on with that as we're getting into advertising. The precis that I uploaded to post #1, however, ought to provide enough information for someone who's interested in trading price to get started. Those who take to it easily may well need nothing else, except possibly the Developing A Plan pdf which I've also posted (there's also Tim's work on trading plans; as I remember, we each began these efforts at about the same time, and there are a lot of similarities). Unfortunately, few want to go through the plan process until they've lost considerable amounts of money. But that's always been the case. Aside from that, God knows I've made plenty of posts over the years. At this point, it's a way of paying it forward.

Sorry to hear about Brambles. He was sharp. Somebody ought to collect and consolidate his posts. Look at how the Phantom's work has circulated so widely. Now that's karma.

I know you fight shy of "advertising" your book, db, but the trouble is that it won't be long before your post #1 is lost in the archives - like many other nuggets (including your earlier stuff) - and quite difficult for people to unearth. Great for those who come across the thread whilst it's active, but not so good for those who come along in some months time. There's only a book, really, that gives some lasting life and then people have to find out about it. Damn sight easier than trawling through hundreds of threads, though.

Perhaps you should collaborate with T2W for "book space" and/or articles . Things like this shouldn't be lost.

 

[tar]

Books are ok they can provide you with some perspective in trading but they wont make you successful , no one will become a successful trader from reading or studying a trading book . Its not rocket science prices go up you buy , go down you sell . You need a lot of experience and huge discipline to execute that properly and end up in the black .

 

[dbphoenix]

I exchanged PMs with Sharky about the Harriman House thing, but I don't see how it would work. For one thing, it's not a real "book"; it's an eBook. And it's not the sort of thing people are used to, or at least people who are unfamiliar with my writing.

I wish I had come up with this ten years ago. I could have saved all those people who were struggling with Wyckoff a lot of time and trouble and frustration. Twenty pages beats the hell out of 500. What I had in mind was to post this precis then answer whatever questions people might have. Which might be none. But there does seem to be a renascence of interest in trading price. Look at all the discussions of Al Brooks et al (the chief problem there being that they really aren't trading price). Perhaps as more people become disenchanted with forex, they will become more interested in trading price.

I've been working on this in this form since early '13, and there are plenty of drafts floating around. I sometimes feel like Microsoft, churning out revision after revision and patch after patch. But I believe at this point that if what I posted in the first post doesn't click with whoever reads it, the rest of it would not be of any interest either.

I don't want to get into a long, boring story, but one of the reasons I stopped posting here was that I had little to nothing to offer spread-betters and forex traders. And there's only so much that one can say about price and volume (and I think a thousand posts covered it). But the SLA can be used with anything, even if it isn't mean-reverting. And it doesn't include volume at all And though I don't recommend it, the journal can be skipped almost entirely

 

[metrader]

no one will become a successful trader from reading or studying a trading book ..

I've tried it and came to the same conclusion

 

[Fugazsy]

Books are ok they can provide you with some perspective in trading but they wont make you successful , no one will become a successful trader from reading or studying a trading book . Its not rocket science prices go up you buy , go down you sell . You need a lot of experience and huge discipline to execute that properly and end up in the black .

so true, a book is only a perception of an individual in the endless facets of the market, his perceptions are a consequence of his experiences which are not necessary the experiences of others, beside that even if a specific perception of a particular individual can take advantage of a segment of the market it does necessary emigrate to another individual due to differentiation in personality.

 

[dbphoenix]

so true, a book is only a perception of an individual in the endless facets of the market, his perceptions are a consequence of his experiences which are not necessary the experiences of others, beside that even if a specific perception of a particular individual can take advantage of a segment of the market it does necessary emigrate to another individual due to differentiation in personality.

The market, however, couldn't care less about the trader's personality, which is why it's up to the trader to accommodate the market, not the other way around. Likewise, the trader's "perceptions" are not particularly relevant. The market has a structure, as explained in the first post. If one doesn't understand that structure, or is even completely unaware of it, what he is most likely to perceive are bunnies in clouds.

 

[Fugazsy]

The market, however, couldn't care less about the trader's personality, which is why it's up to the trader to accommodate the market, not the other way around. Likewise, the trader's "perceptions" are not particularly relevant. The market has a structure, as explained in the first post. If one doesn't understand that structure, or is even completely unaware of it, what he is most likely to perceive are bunnies in clouds.

The trader has to accommodate to the market based on his personality, otherwise has not any chances to get along with it, the secret is to find a style that reflects his personality. Yes the market has structures but are not rigid one, they are fluid and the trader needs to build with time screen the ability to merge with them.

 

[dbphoenix]

The trader has to accommodate to the market based on his personality, otherwise has not any chances to get along with it, the secret is to find a style that reflects his personality. Yes the market has structures but are not rigid one, they are fluid and the trader needs to build with time screen the ability to merge with them.

The "secret", however, lies in determining how the market works, then determining how best to take advantage of this dynamic. The latter involves many choices. But they must all be rooted in basic market dynamics. Whatever secret there may be in the latter lies as you say in screen time and learning how to merge with the market's demands, i.e., humility.

 

[NVP]

so true, a book is only a perception of an individual in the endless facets of the market, his perceptions are a consequence of his experiences which are not necessary the experiences of others, beside that even if a specific perception of a particular individual can take advantage of a segment of the market it does necessary emigrate to another individual due to differentiation in personality.

have you been drinking coffee again F .........

 

[NVP]

lets fae it

most people fail because of a few simple things

1) lack of intelligence
2) lack of discipline (to learn / to research / to persevere / to peel the layers / to execute)

but also more importantly a lack of self awareness / reality checks ...............most things we humans do in our comfortable westernised lifestyles can be candy coated to allow us to live in a bubble of non reality ........where we repeatedly let ourselves off of our promises and dreams and commitments ......... trading is a rock that cannot be sugar coated ............people walk away pretty quickly when the bottom line tells them that they are crap traders and no amount of excuses can be used to ease the pain unlike the rest of our lifestyles

N

 

[dbphoenix]

lets fae it

most people fail because of a few simple things

1) lack of intelligence
2) lack of discipline (to learn / to research / to persevere / to peel the layers / to execute)

but also more importantly a lack of self awareness / reality checks ...............most things we humans do in our comfortable westernised lifestyles can be candy coated to allow us to live in a bubble of non reality ........where we repeatedly let ourselves off of our promises and dreams and commitments ......... trading is a rock that cannot be sugar coated ............people walk away pretty quickly when the bottom line tells them that they are crap traders and no amount of excuses can be used to ease the pain unlike the rest of our lifestyles

N

Reminds me of this:

The stock market doesn't beat around the bush. It doesn't give A's for effort. It doesn't say, "Everbody is special, just in their own way". The stock market offers direct, quantitative confirmation of exactly how much of a loser you are.

-- Joey Anuff and Gary Wolf

A bit harsh, but . . .

 

[barjon]

..................... Time to get back to the topic ....................

What a good idea

Let me offer a question: What happens when you are looking at an accelerating trend rather than a flattening one and when it then starts flattening where do you draw your trend line from?