Why Is The Obvious Not So Obvious?

[Lúidín]

stupidity
stʃʊˈpɪdɪti,stʃuːˈpɪdɪti,stjʊˈpɪdɪti,stjuːˈpɪdɪti/Submit
noun
behaviour that shows a lack of good sense or judgement.

 

[dbphoenix]

stupidity
stʃʊˈpɪdɪti,stʃuːˈpɪdɪti,stjʊˈpɪdɪti,stjuːˈpɪdɪti/Submit
noun
behaviour that shows a lack of good sense or judgement.

This, however, involves a subjective judgement. The state of the account balance is an objective measure.

Db

 

[Lúidín]

btw..i will reply in detail..it is just that i still have some painting to finish
Lúidín

 

[Lúidín]

break time..and i will apologize before i start..as i will more than likely offend some people..but that is life

i will start with the following..to lead into the discussion at hand

there are 2 types of people whom you will meet in life..the first will be looking for you to part with your money..for whatever reason..the second..will not be looking for you to part with any money..and might even help you acquire some money without asking for anything in return

of course people will repeat things..that is what humans do..it is called habitual nature..and it happens you whether you like it or not..so best understand it as best you can

facts..a fact is something that actually happened..it can be seen or heard..interpretation of facts is a different matter..and prime example is court (circus) system

laws..laws are put in place for control..supposed to be for rhe better of humanity..but that is very debatable for some laws..especially when it comes to taxation laws

t.b.c

Lúidín

 

[dbphoenix]

there are 2 types of people whom you will meet in life..the first will be looking for you to part with your money..for whatever reason..the second..will not be looking for you to part with any money..and might even help you acquire some money without asking for anything in return

And a third, he who is looking for someone to whom he can give his money. This type is comprised of the vast majority of traders, new and not-so-new.

Db

 

[tokyojoe]

I am a little confused. Understand the SB data and how they operate, but if you are trading big size are you not better off with a normal broker like IB for Dax, or even the likes of Exante at E1.50 for Dax Ftrs

https://exante.eu/markets/Futures/

I tried the Exante demo, but did not like their software, especially the charts. To be honest, I have had an account with about 5 sb companies, was with Datek and TDA, and been with IB for a good while now, and none of them can beat IB, as they tick most of the boxes, with their major drawback funny enough being their chart features, which is silly for such a big trading broker and would be very easy to fix, but they don't listen to small traders like me.

If you want to PM me with the way you are trading, I might be able to offer some insight into how you might be better off trading to avoid the SB's messing you about, as you rightly say they can only rattle you a small bit, and thing is the traders they employ are not really clued into chart analysis, which is you main weapon.

If you are fine, np.

As for tomorrow, I am not too concerned, as i have some low risk option trades on a low priced oil stock (bout 2K shares), and open 2 long positions in crude for $39 and $40 calls, again low risk, so would like to see a rally in oil before 16Dec - if it happens good, if not then no sweat, as I know the risk and am not worried about it, which is how it should be.

I read an interesting article over the weekend in relation to the feds upcoming rate hike, and many of the big players are expecting a bad Q1, based on the effects the rate hike will have on corporate business, so it will be interesting to see what actually happens.

My preferred style is daytrading the open, with no opinions of where it might go, just look and react to what is happening, get in and out as required, and try to make a good bit more than I lose. For me, I have found the best market to daytrade is US blue chip stocks, for several reasons, namely opportunities at the open.

I am always interested in what other traders are doing.

Lúidín

I do not trade size, I simply look for points in a semi decent session with traction, my method is simple in that regard.

Trading size (well, "size" for me was £20+pp) I found too be way much of a clusterf@(k with way too much pressure. £20+pp may not sound like alot, but it can do enormous damage if your eye is not on the ball.

I do not see opportunity in every session, often the "one-two" dribbles past me & then it rockets (or crashes) without me on board as the price will get sneaked & spiked.

I have started to narrow my timeframe even more than I did, too much concentration in one hit is bad in every sense, this is when we look for ops that are simply not there.

I use SB because I want as least capital tied up in this vacuous industry as possible.
Also I only want to spend a maximum of 3 or 4 hours total in any one day I may be in. This is very hard when my time window presents no ops, but that's the game for you.

I'm fortunate to be in a position where I can dip in & out of the game as & when while having another outlet. Very important in my opinion.
I have no desire to do this full time.

As for your offer of help, thanks, I think you sound like a knowledgeable guy, but my angle is somewhat different to many others, in that I refuse to let this game take over my life, yes it is consistent profit I'm after, but not at the expense of all my time.

 

[Lúidín]

I do not trade size, I simply look for points in a semi decent session with traction, my method is simple in that regard.

Trading size (well, "size" for me was £20+pp) I found too be way much of a clusterf@(k with way too much pressure. £20+pp may not sound like alot, but it can do enormous damage if your eye is not on the ball.

I do not see opportunity in every session, often the "one-two" dribbles past me & then it rockets (or crashes) without me on board as the price will get sneaked & spiked.

I have started to narrow my timeframe even more than I did, too much concentration in one hit is bad in every sense, this is when we look for ops that are simply not there.

I use SB because I want as least capital tied up in this vacuous industry as possible.
Also I only want to spend a maximum of 3 or 4 hours total in any one day I may be in. This is very hard when my time window presents no ops, but that's the game for you.

I'm fortunate to be in a position where I can dip in & out of the game as & when while having another outlet. Very important in my opinion.
I have no desire to do this full time.

As for your offer of help, thanks, I think you sound like a knowledgeable guy, but my angle is somewhat different to many others, in that I refuse to let this game take over my life, yes it is consistent profit I'm after, but not at the expense of all my time.

Np..the only thing i know is that i really know nothing

That said..i have worked out a valid approach for daytrading the US open..took me a long time..wasted lots of years listening to others..when i had the best answers myself..i recently showed a few the basics if it..but it is so simple each and every one of them ignored it..why..well..probably cause i was not charging them any money

It is the same as any other approach..does not work all the time..none do..but it works a lot more than most..and is so obvious most people never consider it..let alone see it

Will not post in public..as some might go off and start selling it to others..which i have absolutely no interest in

Lúidín

 

[counter_violent]

Np..the only thing i know is that i really know nothing

That said..i have worked out a valid approach for daytrading the US open..took me a long time..wasted lots of years listening to others..when i had the best answers myself..i recently showed a few the basics if it..but it is so simple each and every one of them ignored it..why..well..probably cause i was not charging them any money

It is the same as any other approach..does not work all the time..none do..but it works a lot more than most..and is so obvious most people never consider it..let alone see it

Will not post in public..as some might go off and start selling it to others..which i have absolutely no interest in

Lúidín

Would that be Socco and his merry band of loony tunes by any chance ?

 

[Lúidín]

No actually..if you are referring to Socrates..who specialized in VSA..which never interested me..but was a very valid approach..so his method does not fall under the time wasting.

i am speaking more along the lines of the useless TA books out there..the many self professed mentors..coaches..course sellers..sort of like the majority of t2w members now..as nearly every second person here has what looks like a little car symbol next to his handle..

i would have thought they would all be using twitter and facebook now..or maybe they are..as i could not be bothered to look

Lúidín

 

[Lúidín]

And a third, he who is looking for someone to whom he can give his money. This type is comprised of the vast majority of traders, new and not-so-new.

Db

If you ask a person for money..he will tell u f..off..if you tell him you can help him make money..he will of course listen..but very few will ever bother to ask the obvious question..which is..can you please show me your trading record..validated by a qualified person..which..if you think about it..should be provided up front anyway..if the provider operated in a professional manner

Lúidín

 

[dbphoenix]

If you ask a person for money..he will tell u f..off..if you tell him you can help him make money..he will of course listen..but very few will ever bother to ask the obvious question..which is..can you please show me your trading record..validated by a qualified person..which..if you think about it..should be provided up front anyway..if the provider operated in a professional manner

Lúidín

It has nothing to do with asking anybody for money. Traders -- and not just beginners -- are all too eager to buy courses, software, dvds, books, memberships to trading rooms, chatrooms, newsletters and on and on. The question being asked is why they do that.

Going back to your original questions,

1. Why do people turn down good advice that can only help them save money, not cost them money!

2. Why do people keep trying to prove something where no proof is really required!

3. Why do people believe what they want to believe, without seriously considering the possible outcome of their actions!​

I replied that

The psychology behind all this is not terribly complex and it has been delved into before. But the delving hasn't accomplished much, if anything, because it's always the other guy who has these -- for want of a better word -- problems. And so we go on, and one finds a sameness to it all, particularly in the journals, particularly among beginners. In fact, one who left the boards, any boards, fifteen years ago and came back today would find little difference other than the obsession with forex.​

You then stated that there were two kinds of people: the first will be looking for you to part with your money..for whatever reason..the second..will not be looking for you to part with any money..and might even help you acquire some money without asking for anything in return. I added that there was a third: he who is looking for someone to whom he can give his money; this type is comprised of the vast majority of traders, new and not-so-new.

Do you want to discuss any of that? Or do you prefer yet another vendor rant?

Db

 

[Lúidín]

I was discussing it..the main point i am making..is that it will really not help a newbie that much to start giving away money to other people..just to have them show them what is already available for free..and it is all free now..for if one cares to search correctly on the net..they will find all the common knowledge they want

a newbie would be 100 times better off to use the money..no matter how small..to get some live trading experiences..as no matter what course..or mentor..they try..they will still need to master the psychological aspects of trading..which is only done by live trading

of course..if they approach the quest with stupidity..such as ignoring or understanding risk control..then they will soon discover the negative emotional aspects..and with no balance..positive..they will not last pissing time

it really is that simple..but many will have others believe otherwise..for "obviuos" reasons
Lúidín

 

[Lúidín]

btw..do not get me wrong..i neither like nor dislike vendors..i am just stating my opinion..after years of trading..many different markets..having read many books..bought many courses..and even paid for a 4 month live trading session..and that was the worst experience..i still kick myself in the ass for been so stupid..in fact..i was the most stupid person ever..so it is not timsk

Lúidín

 

[dbphoenix]

they will still need to master the psychological aspects of trading..which is only done by live trading

Mastering the psychological aspects of trading is accomplished by developing a thoroughly-tested and consistently-profitable trading plan and trading it with discipline. After thorough study and practice, then live trading is appropriate. And all of this can be accomplished without spending a dime.

Why, as a rule, don't newcomers do any of this? Superiority bias.

Db

 

[tar]

btw..do not get me wrong..i neither like nor dislike vendors..i am just stating my opinion..after years of trading..many different markets..having read many books..bought many courses..and even paid for a 4 month live trading session..and that was the worst experience..i still kick myself in the ass for been so stupid..in fact..i was the most stupid person ever..so it is not timsk

Lúidín

If a vendor is making money from trading and is milking the markets constantly then why become a vendor ?!

Its obvious ...

 

[Lúidín]

Mastering the psychological aspects of trading is accomplished by developing a thoroughly-tested and consistently-profitable trading plan and trading it with discipline. After thorough study and practice, then live trading is appropriate. And all of this can be accomplished without spending a dime.

Why, as a rule, don't newcomers do any of this? Superiority bias.

Db

I disagree Db..better be careful or we might have a poem

Can you show any stats to support your argument?

Let us look at another thread, that of Savius trading prop firm..quick summary which can be easily checked..in case i am off a little

Would be traders pay $200 to take the challenge..then rhey go on sim for a week or 2..if profitable on sim they get access to funds and can trade live..max loss allowed per day is $500..max drawdown allowed is $1,000..i think..when drawdown hit they have to take challenge again..it repeats with some changes..most of this is correct..but as said the nitty gritty can be easily checked in the thread

Savius has posted some stats..i think 28% make it thru to trading with them..but..i would say very few make it straight from go..why..simple..it is not the plan..as savius has a full plan trading and risk management plan..which i disagree with btw..it is because they have not enough live experience..for if they had..they would know that their biggest problem is emotional..not the plan..and..a mediocre plan will work if the trader has enough experience withproper risk management and emotional awareness..which is only got by live trading

Lúidín

 

[Lúidín]

If a vendor is making money from trading and is milking the markets constantly then why become a vendor ?!

Its obvious ...

Well..one reason might be tax..for if the vendor is spreadbetting..he needs to have a main income source to avoid paying income tax on sb profits..which many will argue..but are just wasting their time

Teaching someone how to trade is an educational profession..and can be put down as your main income source

Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress

Lúidín

 

[tar]

Well..one reason might be tax..for if the vendor is spreadbetting..he needs to have a main income source to avoid paying income tax on sb profits..which many will argue..but are just wasting their time

Teaching someone how to trade is an educational profession..and can be put down as your main income source

Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress

Lúidín

A spread bettor vendor what could be worse ?!

 

[dbphoenix]

I disagree Db..better be careful or we might have a poem

Can you show any stats to support your argument?

Let us look at another thread, that of Savius trading prop firm..quick summary which can be easily checked..in case i am off a little

Would be traders pay $200 to take the challenge..then rhey go on sim for a week or 2..if profitable on sim they get access to funds and can trade live..max loss allowed per day is $500..max drawdown allowed is $1,000..i think..when drawdown hit they have to take challenge again..it repeats with some changes..most of this is correct..but as said the nitty gritty can be easily checked in the thread

Savius has posted some stats..i think 28% make it thru to trading with them..but..i would say very few make it straight from go..why..simple..it is not the plan..as savius has a full plan trading and risk management plan..which i disagree with btw..it is because they have not enough live experience..for if they had..they would know that their biggest problem is emotional..not the plan..and..a mediocre plan will work if the trader has enough experience withproper risk management and emotional awareness..which is only got by live trading

Lúidín

Whether or not Savius has a plan is irrelevant, even if it is thoroughly tested and consistently profitable. No one is going to trade someone else's plan with confidence. If they trade it at all, they will do so at least somewhat fearfully. Trading it "live" will not assuage that fear. This can be seen by reading the various threads, particularly journals, here and elsewhere.

If you're interested in this subject, you may want to read the article I wrote for T2W.

Db

 

[dbphoenix]

Other than that..the vendor will have to tell you..as i can see no other reason if the trader is making good money trading..for..why bother..trading can be stressful enough without introducing additional stress

Some people, as they near the end of their lives, feel compelled to share what they have learned in the hope that others might benefit. I was such a beneficiary, and my book is an attempt to "pay it forward". Those who feel that my time is worthless and don't want to pay the 35 bucks can get the same information for free by reading my posts, beginning with 1998. Their choice.

Done here.

Db