Kiss

[dbphoenix]

Why care ?

Because NT's outrageous claim is nothing than bull**** that I absolutely guarantee you he is NOT doing, nor is anyone else doing that.

While I agree that it is unlikely that NT is doing it, you have no way of knowing whether or not anyone else is, regardless of how many people you quote.

But, again, so what? Are you losing money because of anything that's been posted?

 

[BSD]

No NewTrader.

YOU should stop being a pathetic liar.

OR back up your claims.

Which you cannot, because, you ARE a pathetric liar and braggard.

Life is too short to have to put up with people with negative attitudes liek you spreading nothing but false and misleading nonsense on boards.

So again:

Where is proof of your BS of 70% hit rates with 1 / 3 risk / reward ratios ?

Get a life, Jesus.

 

[BSD]

While I agree that it is unlikely that NT is doing it, you have no way of knowing whether or not anyone else is, regardless of how many people you quote.

But, again, so what? Are you losing money because of anything that's been posted?

DB, if I want to visit joke boards or boards where BSitters United congregate, I will.

But I come here to have fun with real traders, not to have to listen to some total BS from a loser who doesn't even trade for a living, YET spreads totally false and misleading nonsense here that some newbies may well fall for.

70% hit rate, 1 / 3 risk / reward, my ass !

Prove it, NT !

 

[dbphoenix]

Thanks DB. It seems the things I say will only be afforded credibility when someone like you backs it up. Perhaps I should change my nickname.

Whether I back it up or not is irrelevant. The credibility lies in the whys of price movement. Those who choose to take some other route have every right to do so.

Db

 

[JTrader]

By 3:1 Reward risk, i am not talking about setting eg. a 20 pip SL and 60 pip PT. I am talking about letting profits run until the trend turns etc. And then assessing the ACHIEVED AVERAGED R:R afterwards. Over 200 trades say, if you results are equal to 3:1 reward to risk with 40% wins, then great - IMO you are doing well.
Trading the right instrument/s is obviously a factor, as some instruments are more suited than others.

 

[dbphoenix]

DB, if I want to visit joke boards or boards where BSitters United congregate, I will.

But I come here to have fun with real traders, not to have to listen to some total BS from a loser who doesn't even trade for a living, YET spreads totally false and misleading nonsense here that some newbies may well fall for.

70% hit rate, 1 / 3 risk / reward, my ass !

Prove it, NT !

So put him on Ignore. He doesn't stalk you like his buddy did me. And NT is hardly the only new member spouting nonsense.

 

[new_trader]

Whether I back it up or not is irrelevant. The credibility lies in the whys of price movement. Those who choose to take some other route have every right to do so.

Db

Yes, and it's clear some have and some don't like it.

 

[dbphoenix]

By 3:1 Reward risk, i am not talking about setting eg. a 20 pip SL and 60 pip PT. I am talking about letting profits run until the trend turns etc. And then assessing the ACHIEVED AVERAGED R:R afterwards. Over 200 trades say, if you results are equal to 3:1 reward to risk with 40% wins, then great - IMO you are doing well.
Trading the right instrument/s is obviously a factor, as some instruments are more suited than others.

This is all becoming circular, and is well past the point of the thread (sorry, wasp), and one eventually gets back to what chump was saying in the stop loss thread about mechanical vs discretionary.

If everything that can be said has been said, can't we just leave it and move on to something else? Like the topic?

 

[BSD]

So put him on Ignore. He doesn't stalk you like his buddy did me. And NT is hardly the only new member spouting nonsense.

True.

Where you stalked ?

That's disgusting.

Anyway, good trading and have fun everybody, I have to go look deeply into some glasses that won't be filled with H2O in what I hope will be good company now.

Gotta get the priorities right what.

 

[JTrader]

So put him on Ignore. He doesn't stalk you like his buddy did me. And NT is hardly the only new member spouting nonsense.

The trouble then is, they may continue to heckle you, and because they are on your ignore list, you will be none the wiser. Your none repsonse to them from that moment on may be seen as a sign of weakness.
So when putting someone on your ignore list, it might be a good :idea: to publically declare it.
But at the end of the day, who gives a ****, prolific T2W poster guru status, 23 green cubes of good rep etc. does not equal successful trader. As rols' buddy says, bulletin boards are often places where losers gather.

Anyway, getting this thread back on topic, without further DERAILMENTS (yes i contributed 1 derailment which i accept).....

 

[brutusdog]

Why do we make things more difficult than they are?

Supply, demand and the trend, be it a 5 minute time frame or weekly, its all the same and thats all that matters. Why make things any more complicated? and why does it take so long to realise it?!!!!

with regards to my own trading this is a timely post wasp and has produced an interesting if wayward discussion.

i have been through so many indicators and systems and methods and e books and websites and .........tried all the various settings ideas and so on.

it is not that i have gone full circle but kind of done 20 laps 3 pit stops and had a couple of blow outs.

however i now find myself with 2 lines on the chart that have been there pretty much since the begining and 2 time frames and a method that i can stick to.

what i find interesting is that the relevant issue is money management and trade management. i have found it is best to assume that as soon as i enter a position that the stop and the margin required is written off, lost... gone down the pan.

then i am free to be objective when in the trade. i am also fortunate to have had great advice and people to do this with which has made a huge difference. dont get me wrong im no super trader or anything but i finally get that trading as life is as complicated as we make it or want it to be.

 

[bansir]

Haven't read the whole thread but how simple do I need to be?

Is this ok? Or is it too complex involving pivots and MA's

Initial stop was at 12457 so just short of 1:1 RR.
Any comments welcome. (runs for cover)!

Best Regards,
Neil

 

[DC STOXX]

LOL !

The secret is that you are only allowed to engage in incredibly lucrative Chaff futures trading if you have a blue jacket like these great guys:

BUT

the problem is, they artificially limit supply, they just don't make them anymore.

I reckon everyone in that pit are multi millionaires, no joke

 

[bansir]

I reckon everyone in that pit are multi millionaires, no joke

But....
Why are they doing that then?
It doesn't look fun!

Cheers,
Neil

 

[wasp]

.... An interesting discussion this thread has headed into and whilst I'm not dismissing the importance, it warrants another thread really.

Back to the original point and topic, I think we can all agree that supply and demand and the trend are all thats needed. Volume is and can be a useful extra too but for those like myself, who trade FX and have no access to volume, we have to and can easily make do with just the first three.

My hope for the thread was to direct any newbies to explore the essentials and the real reasons for movement, and keeping it simple rather than trying every indicator under the sun as 90% of traders always end up back with just s and r and the trend as, IMO, at the end of the day, thats all the markets are and thats what causes their movements.

 

[0007]

....

90% of traders always end up back with just s and r and the trend as, IMO, at the end of the day, thats all the markets are and thats what causes their movements.

In terms of getting back to simplicity I've been doing some "refresher training" over the last couple of weeks. (In the past, I've fallen prey to multiple indicators and various systems only to end up suffering from information overload) What I did was to concentrate on just one FTSE100 share using only support, resistance and trendlines - SRT. I've become familiar with the share's daily rythms, got to know it well and really made myself pay attention to its interaction with SRT.

Now, my aim was to simplify things by excluding variables - eg no indicators. But when you consider that even with this most simple of representations of the market in just one share, you still have remaining variables eg (1) time frame - 1min to say several months, (2) time of day, (3) data feed (4) charting facility - and no doubt others that I haven't thought of.

Despite these remaining variables fogging the workings, I have found it to be a very useful exercise in anticipating what (I think) is probably going to happen and being able to react either way. It certainly has facilitated some clear and logical thinking and I definitely feel the better for it.

I really believe in simplicity (of the Occam's razor type). Does anybody else do refresher training?

 

[new_trader]

[EDIT]

I really believe in simplicity (of the Occam's razor type). Does anybody else do refresher training?

Not so much refresher training but more a case of continuous development, improvement and refinement. I study each trade, win or lose, and make notes.

 

[BSD]

Trading is the only profession I know where people are encouraged to strive for mediocrity.

if I was to suggest that for every 1 hour the average person puts in you put in 3 hours? What if instead of going to the pub on Saturday night to drink with your mates you studied the markets? Would you accept that you could actually attain a ratio of 7 wins and only 3 losers or even better? Not only that, but that your winners were more than 3 times bigger than your losers! I doubt you would think it’s possible. Not only that, the majority will convince you that it is impossible and any effort to try is a dead investment. Few people are willing to go to the very bottom of things. Is it any wonder that success is for the few?

You don't anything NT, all you do is spread total BS.

Hit-rate of 70%, risk / reward of 1 / 3 ???

LOL !

NOBODY who has ever had a net profitable account, NOBODY who has even the SLIGHTEST clue about trading, would even DREAM of spreading such all out BS !

70 % hit rate, RR of 1/3 would generate an account equity curve that is STRAIGHT from the bottom left to the top right corner !

It is total BS that does not exist in the real world.

Try it for yourself:

Random Equity Curve Simulator of a trading system. Learn it before you trade

Win Loss 3

Win Prob 0,7

What you get is an equity curve from out of this world that would make you the RICHEST PERSON ON THIS PLANET within a VERY short time IF it were possible which of course it isn't.

THAT is why NewTrader doesn't even trade for a living, because he is totally clueless, while a Market Wizard like Bill Lipshutz was the biggest earning trader at the then Salomon Bros for the eight years he was there before he started his hedge fund, with a hit rate of no more than 20 - 30% !!!

But then Lipshutz wasn't a pretender with a bad, unbeliavably negative attitude like NewTrader wasting his own and others time with total BS !

Spreading such completely false and misleading garbage is downright criminal !

 

[tune]

BSD, out of interest, what is the highest hit-rate you are aware of.

 

[firewalker99]

BSD, out of interest, what is the highest hit-rate you are aware of.

I once sat next to a guy who got on average 9 out of 10 trades right. But having a high-rate means nothing on it's own... after all he was just scalping for a handful of points...