AmateurTradersOnline
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Just saw this Splitlink, Love it mate. Nothing like a good quote, another great one is "Luck is when opportunity meets preparation "
trading and luck
- Thread starter morgan_edge
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Just saw this Splitlink, Love it mate. Nothing like a good quote, another great one is "Luck is when opportunity meets preparation "
morgan_edge
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Thinking on a little from my original post, I also sometimes think that its just my pessimistic nature and im possibly worrying about nothing...but then like i said, its the uncertainty of EVERYTHING in the trading world.
What I will say is that if I showed a lot of people my trading results for the last, lets say, 4 months, they'd would say i have nothing to worry about. Every day on average of about 6 trades and everyday on average, about 45 pips profit.
I also mentioned in another post that I am lucky enough to trade in a private skype room with my 'trading idols' (lol). Basically people from various forums who proved that they definitely knew what they were doing with endless realtime trades/statements etc. I then hounded them down and got them in skype, and what struck me since starting this thread is that none of them guys have any of the doubts that I have, and yet they also all trade from TA. Some of these guys have been at it for 20 years and they make more money than I could ever dream of.
I read lots about systems stopping working every few months. What about the likes of Mr.Charts? He's been trading stocks the same way for a decade from what i can gather..?...
Is TraderDante panicking about his method of trading stopping working in 2011?
Some of my doubts were a result of the 'trading without charts' thread:
http://www.trade2win.com/boards/forex-discussion/72058-trading-without-charts-15.html
It made me think that what I was doing to make money may well be luck. It made me think that there was something else out there that only 3 members of the forum seemed to know about but wouldn't come out and say it. Like they had a secret. I wish some of the afformentioned traders would have joined that thread in fact. However , I also have doubts about their secret method. Im sure in this day and age, whatever it is that they think they have would be plastered all over various trading forums and would be common knowledge.
For now im just gonna get on with it and pretty much disregard everyones theories on how 'the market is always changing and so your method will only work for a short time', 'charts aren't enough to make informed trading decisions' etc.... and see how i go.
What I will say is that if I showed a lot of people my trading results for the last, lets say, 4 months, they'd would say i have nothing to worry about. Every day on average of about 6 trades and everyday on average, about 45 pips profit.
I also mentioned in another post that I am lucky enough to trade in a private skype room with my 'trading idols' (lol). Basically people from various forums who proved that they definitely knew what they were doing with endless realtime trades/statements etc. I then hounded them down and got them in skype, and what struck me since starting this thread is that none of them guys have any of the doubts that I have, and yet they also all trade from TA. Some of these guys have been at it for 20 years and they make more money than I could ever dream of.
I read lots about systems stopping working every few months. What about the likes of Mr.Charts? He's been trading stocks the same way for a decade from what i can gather..?...
Is TraderDante panicking about his method of trading stopping working in 2011?
Some of my doubts were a result of the 'trading without charts' thread:
http://www.trade2win.com/boards/forex-discussion/72058-trading-without-charts-15.html
It made me think that what I was doing to make money may well be luck. It made me think that there was something else out there that only 3 members of the forum seemed to know about but wouldn't come out and say it. Like they had a secret. I wish some of the afformentioned traders would have joined that thread in fact. However , I also have doubts about their secret method. Im sure in this day and age, whatever it is that they think they have would be plastered all over various trading forums and would be common knowledge.
For now im just gonna get on with it and pretty much disregard everyones theories on how 'the market is always changing and so your method will only work for a short time', 'charts aren't enough to make informed trading decisions' etc.... and see how i go.
glyder
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Hi Morgan,
I'd been trying to get the hang of trading literally for years before I got to the stage I am at now with consistentcy of profits.
Its such a recent thing for me to have this ''success'', I am still genuinely gobsmacked everytime a trade goes well. I'm still in dreamland about it. So I also worry whether it will go away. Like I wrote in another post recently, In my more paranoid moments, I worry whether I will lose the knack of trading over the weekend while the markets are closed....and by Monday I'll be back to the world of frustration and losing trades and trial and error that was a part of life for years.
So far Mondays have been OK. But that worried weekend feeling or that I might be on a lucky streak will be around with me for a while.
As for the markets changing over time, I think this is true in some ways, eg if you read about the great bull market that Ed Seykota used to use trend following to trade over the long term - that might not work nowadays. Not on the same time frame or the same markets anyway, but trend following will work over shorter time frames on some markets. Its a matter of horses for courses and methods for markets. You'll prob find that other systems gann /elliot wave work best with certain types of market behaviour (I know nothing of these two systems)//.. Also they say the Turtles breakout system apparently don't work so well nowdays, but I bet there's a workaround to make something of it for someone who can be bothered to find it.
I know its often said, but that don' t make it any less true, that markets are about the people trading them them and the psychology of the participants, esp the fear and greed. This don't change from year to year or even generation to generation.
Pull up some old charts, go back 20 or 30 years, see if your system works in the past. I saw an old chart of the 1920s/30s, and the same old price action that I see now was in there. If its been around that long I shouldn't worry about things, so long as I can keep my discipline. (but I still get that weekend worried feeling now and then).
I'd been trying to get the hang of trading literally for years before I got to the stage I am at now with consistentcy of profits.
Its such a recent thing for me to have this ''success'', I am still genuinely gobsmacked everytime a trade goes well. I'm still in dreamland about it. So I also worry whether it will go away. Like I wrote in another post recently, In my more paranoid moments, I worry whether I will lose the knack of trading over the weekend while the markets are closed....and by Monday I'll be back to the world of frustration and losing trades and trial and error that was a part of life for years.
So far Mondays have been OK. But that worried weekend feeling or that I might be on a lucky streak will be around with me for a while.
As for the markets changing over time, I think this is true in some ways, eg if you read about the great bull market that Ed Seykota used to use trend following to trade over the long term - that might not work nowadays. Not on the same time frame or the same markets anyway, but trend following will work over shorter time frames on some markets. Its a matter of horses for courses and methods for markets. You'll prob find that other systems gann /elliot wave work best with certain types of market behaviour (I know nothing of these two systems)//.. Also they say the Turtles breakout system apparently don't work so well nowdays, but I bet there's a workaround to make something of it for someone who can be bothered to find it.
I know its often said, but that don' t make it any less true, that markets are about the people trading them them and the psychology of the participants, esp the fear and greed. This don't change from year to year or even generation to generation.
Pull up some old charts, go back 20 or 30 years, see if your system works in the past. I saw an old chart of the 1920s/30s, and the same old price action that I see now was in there. If its been around that long I shouldn't worry about things, so long as I can keep my discipline. (but I still get that weekend worried feeling now and then).
