I have put KP on ignore per Mod's advice. He is just a vindictive little minded loser who is probably lost all his parents money after graduating and deciding to make money the easy way trading rather than work at a real job. Now he is out for vengeance to anyone successful, actually I should be flattered. I guess. In a previous post I stated For me as a Trader I want to be able to trade as simple or sophisticated both fundamental, technical and or techno-fundamental as I can. That's why we have these discussions is to step outside our comfort zones and discover ways to improve our profitability. The old saying nothing ventured nothing gained is so true. I can make money with my mind and a phone call to a broker after he gives me a quote of the NYSE Advancing Issues. So when supported by a plethora of sophisticated equipment and the experience of losing and winning for 30 years at institutional levels. Again - My German buddy PM's me - don't play with the pigs - they like the mud far too much. Why are System Traders Vilified by Discretionary Traders?
Wow... I'm so famous. So let me see, first you bitch about the mods for what they have done to your old account, and now you're using their advice. Most excellent way to play it from all angles. You're clearly not able to see this since you claim I'm on ignore, so to the rest of the readers, I'd just like to end off with saying that you have yet to show anything about how you know with precision and pin point accuracy exactly where the market is going. This is what Mark Brown intended to show and I'm still waiting for this. Of course somehow I'm in the wrong for asking about this, even though it was your claim, but lets not get all wrapped up with facts here.
Honestly, I just can't seem to get enough. Now we go from him stating that he knows precisely where the market is going to go, and we expand the brackets even further. He uses both simple and sophisticated methods, and at the same time uses fundamental and technical analysis along with a combination of both. Could an answer that is a non-answer get any better than this? Yes it can.... We can always rely on generalizations like the above. What exactly constitutes square wheels? How to differentiate from round wheels? Jesus, he might as well just say buy when price is going up and sell when price is going down. There... no time element involved even.
Here at this forum called Elitetrader.com its the other way around. Most system traders that use TA and most system traders that do not use TA...the ones that believes trading is quantifiable/scientific...they do not like discretionary traders that use TA with other things because its viewed as art. The art aspect is dependent upon the trader's experience level, discipline, stress management, a little luck and many other things that are not quantifiable while using with technical analysis. The problem that I see with us discretionary traders is that too many of us "think" we're using TA in a scientific way while preaching at the same time how important discipline, trade experience and such is important in our trading. That's nonsense in my opinion. This is where anti TA folks show up and demand proof from the discretionary traders that are obviously using TA via the above explanation. There's no codes, no programs to be able to prove it works beyond just showing live trades backed by broker statements. There's nothing wrong with using TA as such but to pretend we're trading via a scientific approach while knowing things like discipline is key in our trading...its ridiculous. This is why many system traders have a problem with discretionary traders...to many of us discretionary traders believe falsely that our discretionary trading is systematic and can be quantifiable. Seriously, how can you quantify discipline, trading experience and such. Now throw in things like discretionary traders using TA with other things like global economics, global events, political events, fundamentals...its really discretionary and not systematic even if we're using specific rules for such. Heck, just go visit the System Design threads and the Program threads here at this forum. Rarely do you see discretionary traders go there and bash those guys. In contrast, go to the Technical Analysis threads and you'll see the discretionary traders being bashed. You'll even see threads created in the TA section for the sole purpose of bashing someone that uses TA...someone that's a discretionary TA user. Edit: I will repost my answer in the other thread you started about this topic.
These markets are good for shortterm trading. TA is dead, but good to go against common asumptions of TA guys. Contrary trade whatever indicator crossovers, drive the breakouts into fakeouts and don't follow "trend" (=chase). Works every day. I like to watch twitter to see what settings most people have, to know where the setups are likely to fail.
You won't comment on whether you can use TA effectively as a discretionary day trader to provide an increasing equity curve , consistent 10% or more returns on capital per year, brief drawdown periods if any, etc. If you studied Al Brooks thoroughly and have the experience you claim you should see lots of ways of making money on the ES intraday every day. How do we know you know what technical analysis is? Shouldn't there be an ethical onus on veteran TA users to discuss their personal success and failure with implementing TA?
You didn't ask me any questions about any equity curve. The only question you recently asked me was if I was a successful trader and I gave you my answer... I do not discuss my losses and I do not discuss my profits at this forum. Yet, if you want to ask me something else...direct your question to me instead of making a snide remark as if its posted to anyone that reads your message as you have the tendency to do. Also, you use the word "you" in an odd way as if you you're talking to someone and they you'll reply back again via mentioning Al Brooks as if the "you" was about him and not about the person you replied to. I do not use Al Brooks method. Yet, I'm going to go out on the limb and pretend you didn't meant to say "you" and you instead just meant to say "a trader". To answer that, you already know several traders at this forum that uses Al Brooks. I say that because I've seen you reply to them after they said they are using his methods or currently learning his methods. Therefore, please direct those questions to them specifically if that's what you're talking about. Your other question doesn't seem to be directed to me either but I will reply to it. How do we know you know what technical analysis is ? That's easy to answer consider I've posted the same definition many times here...so many times that I've lost count. Thus, you probably don't read all my messages. I'll post it again just in case your question is really directed to me. I've seen a lot of TA users disagree with the above definition. In contrast, I've seen many none TA users say they are not using TA when they use a chart because they are not making any trade decisions. Instead, they say they're using a chart to explain (illustrate) what price has done already and nothing more. I can live with that but they are also saying that if they don't have access to charts...they can still make their trade decisions. Seriously, take away their charts...cancel their chart subscription and watch them trade without charts. They can't do it except for those that uses Bid/Ask, T&S sales screens only. There's also a group of traders here that say technical analysis only involves technical indicators. Ok, I can understand why they believe that but I don't share the same belief. Therefore, I don't expect you to agree with my definition consider most traders have openly stated I was wrong. Your other question... Shouldn't there be an ethical onus on veteran TA users to discuss their personal success and failure with implementing TA? Traders aren't require to discuss anything with you just like you aren't require to discuss such yourself with anyone...its your choice. Yet, I've learn the more open you're about yourself and you're not walking around here consistently making tongue in cheek remarks or attacking... Others will tend to open up to you if you come across as a sincere person. This is applicable in many other things in life. P.S. You truly do control your own behavior at this forum. Therefore, take advantage of that and be positive. I'm confident others at this forum will be more helpful. P.S.S. Some of us don't like Al Brooks. Yet, we don't have some kind'uv psychological obsession with the guy like you do...its starting to look creepy. That's something you need to fix...seriously.
So, let's see. The only two people MarkBrown has on ignore also happen to be the only two people who referred to this web site: http://thebestbinaryoptionsbrokers.net/profitprophecy-review-of-a-binary-options-scam Seriously, none of you here is even interested to know if this is the same Mark Brown? In this review we will have a look at another automated binary options trading system called ProfitProphecy. It is really nothing new in the series of scams we’ve seen recently. It is the same concept repeated again and again. A supposedly successful binary options trader Mark Brown created a system that can trade automatically and make huge profits. And he is so kind that he is giving it away for free. Let’s first have a look at how he promotes his system, his promotional video is full of lies. There is a false counter of remaining copies available on his page, it quickly goes down to one to make you act quickly. But reload the page or visit any other day and you will see that you can join any time, the allegedly limited spots will never be taken. “Everything is free” – that is a big lie. His trading system might be free, but you will be able to start using it only after depositing money to a trading account, the minimum is $200. “A form of trading a few people know about” – Another huge lie. Binary options are well known all over the world, trading them is something very common and normal. “Generates exactly $15500 per day” vs. “Exponentially growing profits” – Mark Brown first says that he will give you $15500 out of his pocket, which of course is not true, he will never give you a single penny, you will have to deposit money, as we explained. Secondly he says his system makes only and exactly $15500 per day, but then he shows false statements saying that profits made by his system are exponentially growing. This is contradictory. “Somebody cares about you and send you an invitation” – He tries to make you feel special, but he promotes Prophet Prohecy with spam, so it is another big lie. ProfitProphecy Now let’s have a closer look at the trading system. He will never show it to you beforehand, you will never be able to try it on a demo, which is a big warning sign. A serious and honest trader would let you try it first before you risk your own money. But the first thing you have to do with ProfitProphecy, is to open a live binary options trading account and deposit money. Why? Because it is just a big scam. Mark Brown will earn commissions for every person that opens an account and deposits, that is what he needs you to do, that is why he is telling you all those lies. What happens next does not matter to him, because he will get his money. We’ve seen a lot of these systems, they are all the same. We’ve even tested several of them, they were always losing money in the long run. Conclusion If you don’t want to lose your money, stay away from ProfitProphecy, it would trade your account to zero. Another big problem is that it forces you to open a trading account with unregulated brokers such as SpotFN or OptionsArea. So even if you made money with them by your own trading, you would probably never get paid. We hear a lot of complaints about these brokers, they don’t honour withdrawals and they are not reliable. You can earn money with binary options only if you learn to trade them and build your own system.
> Seriously, none of you here is even interested to know if this is the same Mark Brown? So, is it? If you have reason to believe so, let's hear it. Otherwise he's entitled to a presumption of innocence.
Ask him. Same name. They both claim trading mastery. They both trade options... It could all just be one big coincidence...