4xpipcounter
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LOL, thanks for your vote of confidence Pcindia. I doubt I was the original author of it, but I know I never heard it before I said it originally. I have other axioms that I use like "taking the bus", "taking the scenic route", "on my radar", "pair on a slippery slope", "pimpin' the trend", adn a few others.
What's funny is, someone on this thread posted a trade, and then said he got in it early, so he is now "taking the scenic route".
What's funny is, someone on this thread posted a trade, and then said he got in it early, so he is now "taking the scenic route".
4xpipcounter
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ODT, it is kind of an irony, but trading has taught me a discipline I never knew I had before. But then, I never knew I would speak Spanish until I got in the photograhy business 26 years ago, but 80% of my customers were Spanish. I never knew I had any kind of a high degree of discipline until I taught myself to be a good trader.
KajolThappar
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Yes you CAN make a lot of money, but you're up against professionals who know a lot more than you, and have much better resources.
Pretty good chance you'll lose
Pretty good chance you'll lose
4xpipcounter
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If the odds are we'll lose, then why are we even making an attempt?
How do you know so-called professionals know more than me?
Who are these so-called professionals?
What makes you think I am up against them?
How do you know so-called professionals know more than me?
Who are these so-called professionals?
What makes you think I am up against them?
4xpipcounter
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There are no generalities when experience backs you up, along with the success of it. Read my posts, and you will see detail and specificity.
With all due respect, I believe most people in these forums are looking for a way to trade and hoping to find that magic element to augment their strategies because of the money that is to be made in this industry. Therefore, it is easy to speak in general terms without the knowledge or the experience backing it up.
With all due respect, I believe most people in these forums are looking for a way to trade and hoping to find that magic element to augment their strategies because of the money that is to be made in this industry. Therefore, it is easy to speak in general terms without the knowledge or the experience backing it up.
4xpipcounter
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I also think alot of people speak as though they are profitable (eg.with their 100% win rate systems..!), not realizing they won't be soon...
4xpipcounter
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AA got it right, It takes plenty of mental discipline which most people do not maintain over the long haul.
The ones that are profitable consistently will stay that way as long as they maintain that level of mental discipline consistently.
There is also a difference between speaking of it and actually doing it. Your statement implies doubt to someone that has proven to be an excellent trader over the long haul. Why would you imply that just out of the clear blue things would start not working out?
What it really comes down to is that good traders habe an advantage over the market. There are only 2 ways the market can go-- up or down. A good methodlogy is able to discern which way it will go. That converts into pips, which converts into a nice living-- not that tough, as long as you keep your head in the game.
The ones that are profitable consistently will stay that way as long as they maintain that level of mental discipline consistently.
There is also a difference between speaking of it and actually doing it. Your statement implies doubt to someone that has proven to be an excellent trader over the long haul. Why would you imply that just out of the clear blue things would start not working out?
What it really comes down to is that good traders habe an advantage over the market. There are only 2 ways the market can go-- up or down. A good methodlogy is able to discern which way it will go. That converts into pips, which converts into a nice living-- not that tough, as long as you keep your head in the game.
clockmoney
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trading takes consistancy.. its finds a system that works in all market conditions. cause a real trader knows you can win today and lose tomarrow
wallstreetwarrior87
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You need to develop and use a methodology that adapts to changing market conditions.
No system will work in all market conditions, this is because systems can not deviate from their parameters.
clockmoney
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point taken but any methodology has a structure and i have layed the ground with my set up to work in all these conditions.
it all comes down to are you a well learned trader
system and parameters can be change but do you know; how when and why to change them
wallstreetwarrior87
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Although one may not be able to discern whether or not a trader is profitable, it is obvious at times where people are at in their development due to the comments that are been made.
There is of course nothing wrong with these comments from a starting point of view, but we must be able to read and evaluate whats on offer and move forward.
Of course trading is easy, my 3 year old son can do it, he just presses the mouse button then he is in a trade.
Driving is easy, but it does not mean ill be the next Michael Schumacher.
Maybe the question should be; is controlling myself and my current abilities easy?
It is you, who is the most important part of the equation.
4xpipcounter
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4xpipcounter
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Warrior, you and I agree on most things,
Let me add a bit of a twist to this post. If a system has a way of discerning standard deivations, then it can work in any market condition. When extremties have been met is when reversals within that market happens.
As an example, the USD/JPY is beginning a minor correction of the DOWN it started from the huge move it had. The 4-hour chart streched to a sigma 3, which means within the realm of the 1-hour chart a move UP needs to happen. Once it completes to circa 85.00, then it becomes decision time.
The GBP/NZD is also in a similar plight.
Let me add a bit of a twist to this post. If a system has a way of discerning standard deivations, then it can work in any market condition. When extremties have been met is when reversals within that market happens.
As an example, the USD/JPY is beginning a minor correction of the DOWN it started from the huge move it had. The 4-hour chart streched to a sigma 3, which means within the realm of the 1-hour chart a move UP needs to happen. Once it completes to circa 85.00, then it becomes decision time.
The GBP/NZD is also in a similar plight.
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4xpipcounter
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Many fail because of not taking personal responsibility for their own actions. When that happens, it becomes easy to displace the blame, by making predicitons that all will join in that plight.
wallstreetwarrior87
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Not only that, but then there begins the onslaught of aggressive responses, because it is hard to personally take the blame individual actions.
Another thread is a great example, lots of handbags being thrown because 2 posters are coming from different angles.
But if one was to step back and see the whole picture you would embrace this fact as this is what makes the market so intriguing, and creates the trading opportunities we all seek.
All interesting stuff!!
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