If you want to fail as a trader, study TA

[DionysusToast]

Hey, D-T,
If there's anything you want to ask, clarify whatever, don't hesitate to ask me privately.
Always very happy to help you,
Take care,
Richard

Very much appreciated, Richard. I may well call on you in a few weeks as there are a couple of items I'd like to pick your brains on.

Cheers

DT

 

[The Expert]

This is elementary psychology and the downfall of many a trader. The investor has been burned and will wait with "hope" that price will rise to make him whole again. When and if price reaches entry price he will sell and sigh a sigh of relief. If price eventually rises way above entry price he will not regret having sold as his reward for hanging on was\is focused on avoiding a loss.

I afforded myself the luxury of this hope scenario after '87 when 10 of thousands were wiped off a portfolio of stocks I was holding. By '92 I had sold the lot for an average 10% profit but by then I had become a trader, recognised that holding in hope leads to trader's demise and started to treat markets as a casino. Anywhere that can reduce a portion of my net wealth by a between a third and a half does not deserve my money but I will happily play both sides of that stupid switchback leveraged up to the eyeballs

Just watch the leveraged bit, as it has the potential to eat into a big portion of your cash if you get "caught out".

 

[Traduk]

Just watch the leveraged bit, as it has the potential to eat into a big portion of your cash if you get "caught out".

With over two decades of trading experience I am more than aware of both the positive and negative aspects of leverage. I have known many traders during that period of time and all bar one has failed with effectively leverage plus hope. Another element that was frequently evident in the fallers was ego but I guess that humility in anything market related takes time and pain before it becomes ingrained.

Your threads have grabbed my interest based on your chosen handle and rather abrasive style. I suppose something resembling expertise may appear at some point and the quality of such is the fascination

 

[Splitlink]

Re: TA-what can it provide you with?

First class post mate, couldn't agree more.

And you and your long running trading career are just another living proof example of the validity of net profitable trading through TA alone next to all the others, not least that guy who did his webinar yesterday with his rainbow moving averages he uses to identify momentum and then enter on pullbacks, live, profitable scalping, day after day after day, been making a living from that for 4 years he has.

Contrast that with empty hot air threads like this by the OP that are nothing than simplistic kindergarten posturing from guys with massive chips on their shoulders who can never provide any substance to back up their crap let alone provide an alternative and most definitely will NEVER trade live lol.

All guys like the OP do is yell around that the earth is flat and anybody who proves that thats bull**** is still wrong coz the OP said so haha, and never mind all patently obvious evidence to the contrary to anyone whose head isn't unfortunately cemented in the ground or whose brain hasn't taken a hiatus coz it couldn't take the crap any more lol.

It's always a clear indication of interacting with a simpleton on the verge of dysfunctionality when the opposing party are unable to wrap their brains around more than one simultaneously coexisting belief.

The mental sharpness, flexibility and openness to new undisputable facts that clash with previously held warmly cherished pet theories have never stopped these wise guys preaching and proselytising to the enlightened throughout history though has it.



Rotschild, you being a bad boy and frontrunning orders in the pits ??



Ah heck why not then.

My very very very first introducing broker was actually trying to get me in on some insider trading scheme he had running through buddies of his at banks and funds.

Was probably pretty dumb from me that I never took him up on that, as at the time it wasn't even illegal :clap:

It all sounds very good, convincing and there is an element of learning in there that I admire and appreciate. I hope that you will forgive me if I say that I back away from so much intellect!

I'se a pullback man and I don't get them all, it's true, but there's enough of the varmints out there to keep me goin'.

I'm giving you a rec, Mac, because, right at the beginning of one of your threads you drew a wiggly waggly line that made me happy. I didn't know, at the time, that I would not understand you in the future, but I did see the logic, then, and still do today.

Thanks.

 

[cogitoergosum]

One of the (many) problems with TA is that all the calculations and studies use past price data from which they claim you can extrapoolate to predict the future. Take for example an oscillator, which attemps to predict market turns. It wil do so correctly if, and only if, those turns are regular, such as in a regular sine wave. The moment they are irregular, the oscillator will fail.
The trouble is that retail traders see this, and they say something like "that was close, perhaps next time it'll be more accurate, so I'll keep going". This is entirely wishful thinking and has no strict or defined methodology behind it - which is why 90% of those types of traders lose money!
Until they realise that this what they are doing - i.e. wishful thinking - they will never achieve consistent progress. It's that simple. Harsh? Perhaps. Fair? I'm afraid so.

 

[BSD]

Cogito, I like my life and my charts pretty so I use MA slopes for trend direction and momentum, and bollinger bands and stochs for cycle exhaustion, but you don't need an oscillator or bands, you can just as easily eyeball the pullbacks. Provided you stick to the trend cycle exhaustion is incredibly reliable.

What I mean:

http://www.trade2win.com/boards/gen...-current-brent-crude-price-2.html#post1073050

Nothing to do with hindsight either as that's just how all markets move and all the time at that, and you can even trade the inevitable ranges profitably as long as there are enough ticks in them.

It ain't about predicting, about getting 99,9 % winners, that's just a pipedream for daydreamers eternally chasing some non existing holy grail.

Fact of the matter is you can get rich beyond belief by just having one third winners as long as your profitable trades are 3 x as big as your losers, that's all the edge you need at a minimum.

It all sounds very good, convincing and there is an element of learning in there that I admire and appreciate. I hope that you will forgive me if I say that I back away from so much intellect!

I'se a pullback man and I don't get them all, it's true, but there's enough of the varmints out there to keep me goin'.

I'm giving you a rec, Mac, because, right at the beginning of one of your threads you drew a wiggly waggly line that made me happy. I didn't know, at the time, that I would not understand you in the future, but I did see the logic, then, and still do today.

Thanks.

Split, you are absolutely one of my favourite guys here !!!

:clap::clap::clap:

 

[Windlesham1]

Well I am being royally screwed by the flippin' FTSE as yet again it smashes up umpty percent in a few days-way beyond what the stats show is within limits. Now the pound dropped in value several days ago so that is only part of the argument. I have tried just about everything, and find myself being destroyed in the last 12 months, after 6 years of making a living.

 

[cogitoergosum]

I quite agree BSD. I suppose I was being a little siplistic there; I was referring to the thousands of beginners who think that trading is all about TA and fail to understand the reality behind what makes price move, which is simply supply and demand at a price. So really we shouldn't NEED any TA as long as we can read that supply and demand. If some people find some of the studies helpful in confirming their view of supply and demand (aka support and resistance), then all well and good, and good luck to them.
I personally have about six losses to one gain, and I make sure I'm ahead by simply being extremely aggressive with my risk control. I cut trades very soon, as soon as I see they are not definitely winners. It works for me, and I am consistently ahead. I suppose how we achieve that doesn't matter as long as we get there. If it's with TA, then so be it

 

[BSD]

Good post Cogito, makes sense

 

[Splitlink]

Test your Eyesight!
Compiled by da Management
Do men and women see differently? - take our scientific test to find out!

Every day we see thousands of images, but men and women look at them differently. To prove this scientific fact try the following test: look at the two pictures below and find the differences between them in the shortest possible time.

Have you had a really GOOD look at both pictures?
What's different about them?
Please select ONLY ONE answer from the two choices below:

One car's red and the other's blue.

The girl leaning over the blue car has no pants on!

TA is the same. It depends on the point of view!

 

[The Expert]

Well I am being royally screwed by the flippin' FTSE as yet again it smashes up umpty percent in a few days-way beyond what the stats show is within limits. Now the pound dropped in value several days ago so that is only part of the argument. I have tried just about everything, and find myself being destroyed in the last 12 months, after 6 years of making a living.

The normal reaction by most to market moves is as follows.

When the markets move up quickly I will look to sell as they should now drop back.

When the markets move down quickly I will look to buy as they should now move up.

Of course, there is no way anyone knows what the markets will do next, for if they did they would be billionaires.

So, it appears your problem may be that you are trying to sell tops and buy bottoms?

A simple ruler might help you make a difference and turn the odds in your favor again.

If you are over trading, then I am sorry to say that you are now seeing the results of such silly activity, and should know better as a trader, but, if it makes you feel any better I was once in the exact same predicament that you now find yourself

At times the FTSE will take lead from the US, at other times it will do its own thing. I have found that the open is a great time to take some money on the FTSE, but you must not have any biased opinion, and must also watch the US futures & Asian Markets as well.

I would like to say that all will work out well for you, but as you know, that is entirely up to you, and not anyone else.

TE

 

[The Expert]

With over two decades of trading experience I am more than aware of both the positive and negative aspects of leverage. I have known many traders during that period of time and all bar one has failed with effectively leverage plus hope. Another element that was frequently evident in the fallers was ego but I guess that humility in anything market related takes time and pain before it becomes ingrained.

Your threads have grabbed my interest based on your chosen handle and rather abrasive style. I suppose something resembling expertise may appear at some point and the quality of such is the fascination

If I did not know better, I would say that you are being sarcastic:cheesy:

Many years ago, whilst on my so called "trading journey", which btw is more crap terminology, I discovered that the way people have been educated (and still are!), is, well, nothing short of downright silly and bordering on stupidity.

"But Why" I asked myself. "Why, would this be so?"

The answer, of course, not being clear right away, had to have it's origin in either power or money, or as is the case, both, as they go hand in hand at the higher levels of society.

Now, I see people thinking, "here we go again" more mumbo jumbo crap, why can't we just talk about trading, how the TA really works, what combination of indicators work best and will allow me to win more than I lose, and what are the best markets to trade.

Well, all I will say is that I can trade any market I so desire, and what is more, it makes no real difference to me, as I now know exactly what I need to do, and when I need to do it.

"A wise man learns from a fool":smart:

TE

 

[The Expert]

Test your Eyesight!
Compiled by da Management
Do men and women see differently? - take our scientific test to find out!

Every day we see thousands of images, but men and women look at them differently. To prove this scientific fact try the following test: look at the two pictures below and find the differences between them in the shortest possible time.

Have you had a really GOOD look at both pictures?
What's different about them?
Please select ONLY ONE answer from the two choices below:

One car's red and the other's blue.

The girl leaning over the blue car has no pants on!

TA is the same. It depends on the point of view!

And here was me looking at the nice shiny alloys

 

[The Expert]

I quite agree BSD. I suppose I was being a little siplistic there; I was referring to the thousands of beginners who think that trading is all about TA and fail to understand the reality behind what makes price move, which is simply supply and demand at a price. So really we shouldn't NEED any TA as long as we can read that supply and demand. If some people find some of the studies helpful in confirming their view of supply and demand (aka support and resistance), then all well and good, and good luck to them.
I personally have about six losses to one gain, and I make sure I'm ahead by simply being extremely aggressive with my risk control. I cut trades very soon, as soon as I see they are not definitely winners. It works for me, and I am consistently ahead. I suppose how we achieve that doesn't matter as long as we get there. If it's with TA, then so be it

Always pay attention to your GUT feeling, as it is unwise to ignore billions of years of evolution!

Never be afraid to say to anyone, "I think you are wrong", even if you are unable to prove otherwise.

Never be worried about what others can, or can not do, but know that what you do is a direct result of how you think, so if you think about stupid things, then odds are you will do stupid things.

Finally, there is a reason for everything that happens, whether you accept it or not, well, that is entirely up to you!

TE

 

[Splitlink]

And here was me looking at the nice shiny alloys

You are mellowing1 Good for you! Life isn't all about straight lines.

 

[james1234]

hi, this is a message for BSD, im a friend of jayjay121.

he has told me that somewhere on this forum you have stated that jayjay sold you a copy of grey1's code, is this true? as i cannot find anywhere that states this?,

please clarify as jayjay121 says he has never sold any code to you nor spoke to you

 

[The Expert]

hi, this is a message for BSD, im a friend of jayjay121.

he has told me that somewhere on this forum you have stated that jayjay sold you a copy of grey1's code, is this true? as i cannot find anywhere that states this?,

please clarify as jayjay121 says he has never sold any code to you nor spoke to you

I hope you are not calling BSD a liar, for he is now a friend of mine

 

[Mr. Charts]

Very much appreciated, Richard. I may well call on you in a few weeks as there are a couple of items I'd like to pick your brains on.

Cheers

DT

Anytime, DT,
Richard

 

[The Expert]

you don't want grey1 's code

its this one your after if you want the genuine grail

It is funny you mention this book TBT, as it has many similarities to RTA.

Not too long ago, I watched a programme on TV which scientifically proved that DaVinci code book was pure and utter rubbish. It went something like this.

They took a few books, one of them was Alice in Wonderland. When they ran the tests they found that the random letters also made up secret code very similar to DaVC!

This was repeated with other books and the results were similar.

In summary, if one is stupid enough to believe in rubbish and time wasting things, then do not be surprised if you do not see any RESULTS!

The world is oozing with crap and scam artists, and religion is the biggest scam of them all, which is nothing short of wishful thinking and daydreaming.

Everything happens for a reason, understand the reason and you WILL become a better person all round, no matter what your endeavor.

Let the puppeteers string the majority along, as this will never change, for it is human nature, and "the meek will never inherit the earth", for they are way too stupid to see that all they are doing is making other people rich

Open your eyes, and know that the only important thing in your life is your family, for survival of the fittest is what evolution is all about

 

[james1234]

bsd, please tell if you have grey1's code or not?

As you don't and should not make out you do posting screenshots from jayjay's past screenshots. No one has the code except grey1 and jayjay.

Sorry if you have not made this out but there is a rumour going round for some reason that you have the code which you don't

and by the way technical alone cannot make you rich. mix technical with fundamental like on fundamentally weak or strong stocks then its better. And also im talking the classical ta here, not bs fibs, s and r, trendline cuts for fuuks sake.

Why should a trendline cut mean anything, why do people wait so for one before entry?, pure bs.