It must be, because the acronyms aren't understandable since they're a part of some unknowable vernacular with cheat sheets that derive both meaning and significance with regards to their mathematics in furtive e-mails across said sadists.
Well tradetwowin is for beginners and chart wasting looking for edge haha. wild goose chaseing! (now u know wot thread iz all abowt)
I knew that you could post something good! That is why I gave your posts a second chance in the other thread after they took the words of that ... as something useful, and I was right.
Have any of you ever stopped to ask why there are no rich retail traders? Why the total monetary amount of account holdings with major brokers like FXCM and Oanda is so relatively small? Have you ever thought about what you're ACTUALLY buying when you pay your broker's spread/commission? They're selling you hope. A simple human emotion that we all need like food and water. A hope for a better future. A hope for financial freedom. A hope that you can sit on your ass at a computer all day and have all the money you ever dreamed of. Look at all those charts, all those tools, all those flashing indicators, all those numbers. You are made to believe you're the shark, but you are the minnow. You see, the financial world is darwinistic, and you are dinner. There is one way to become the shark in this world, and that is to use your intelligence to do the thing that no one else had done. That does not mean sitting on your ass, and staring at charts like every other retail trading fool. Stop buying it and start selling it.
The dinner buffet table was long and wide in 2008. The financial world , sloth like and idiotic regarding leveage, value and liquidity was not immune to huge loss. The pension funds, Insurance portfolios, endowments, high net worth investors and banks have been made whole and clean again . I know this to be true because i have read it in an expensive book that promises to improve my trading by tossing aside TA for portfolio models that,up to this time, have been exclusive to the large financial institutions.
But the OP clearly uses charts. He posted quite a few in the earlier parts of the thread So is the riddle that we should all in fact become brokers or maybe vendors selling subscriptions/seminars/books etc? Personally, by belief is something along the lines of: The past has no relevance as in order to be successful the here and now is what matters, not the past. I thought it reasonable that readers would also realize this and understand my comment! No matter what behavior is reflected in the chart, nobody, except someone manipulating that market, can know with any semblance of certainty whether the next tick will be up or down and therefore a trend continuation or the begining of a reversal. - If the vast majority advocate trading from charts and/or TA and 80-90% lose in the markets, wouldn't this outcome lead a rational person to suspect that something was not right? Aiming to be better than the vast majority at employing an overwhelmingly unsuccessful approach seems to me to be a strange ambition, but then again each to their own. Wouldn't it be smarter to feed of the 80-90% rather than compete with them for some dubious ouctome. The points that you make regarding market memory are not advantages but rather their weaknesses to be exploited ----------------------------------------------------------------- A successful trader told me the above, although I never did work out what he meant.
Not 100% sure, but considering this, it seems that the 7 sons, may actually be 7 habits Here is a quote found on another forum, but the thread concerned is closed. As the thread was very similar to this one and the thread starter also similar, I thought that maybe it could be possible to discuss it here. This quote was written by the 'similar' thread starter. I guess I may not be too wrong if I say that some of the thread participants know pretty well what it is about. For the others what does make you think ? "The Generals" footprints are mostly visible during Open and Close ? Some levels are being 'fixed' during the Opening period, and if we touch these levels, there would be potential high probability trades ? The last sentence of the quote seems important : If 'something' is touched twice in one day, it will apparently take back what was given up earlier. I am perhaps wrong but it sounds to me like it is something happening due to how the markets are designed and how they work by definition. But, for now, I don't see what it could represent.
Maybe if its the seven steps, C.O.N.T.R.O.L he mentions is a process and has seven steps. I could never figure out what N stood for but my guess,,, Now Wait ?. i've been going over and over the see thru box thread, where Ny explains a trade process, as well as knowing something about swarm intelegence. I've been looking more and more into swarm intelegence and learning how bees dance move too and from the swarm. Maybe price which moves a certain distance away from an anchor point (swarm) has a 0-100% probable chance of going back to the swarm. When reaches a90% chance of return, execute the trade. Or keeping it even more simple, cause he does mention that all the info is infront of you, and we dont need indicators, backtesting, or even type 2 data. I noticed he talks about the box within the box. I've been looking into using MTFA to look at larger timeframes; place a box around 2 probable targets, with a box set on a larger TF, Price will hit either 1 or the other, 100% of the time, which one it hits first or more likely to hit, im trying to figure that out. All that been said i was just on this site http://www.e-junkie.com/trader-info/product/61470.php he talks about straddles. Maybe in the Morning, Buy/sell if price reaches certain distance from opening price or the I.B, Overnight High/Low, Mid etc What i find interesting is the SL is further than the tp. I'm great at giving my money to the market, So i took a step back and basically started to notice everytime ive traded ive always had my sL closer to my entry point than my Tp. So what if i put my tp closer to where busy bees are dancing and sl far away, surely more tp's would be hit, yes,, but when wrong you loose 3 times as much as you gain, its just how many time does your tp get executed to yout Sl, and where and when(time),, but that still does'nt help with increasing the probability or does it ? Could increase the probability just by placing your tp target closer to price than your SL target, surely the closer you are to price the more chance of your Target being hit specially while price jumps up and down. We're learning still, everyday im noticing things on the market, trying to simplify what it is im doing and trying to do. Like Ny says, what exactly is it you are trying to do....
Hi first time poster here, long time lurker I'm a young trader just starting out at a prop firm. I can not explain in words how much this thread has helped me. I feel lucky to get the essence of this thread at a young age, when I look around in my firm, most people are clueless To me The single most important bit is what NY referred to as the prerequisite. Understanding What trading is all about. After that part is figured out the rest is just a process. I'm not consistently profitable yet but I'm in the "process". There is no doubt in my mind it will only be a matter of time, as doubt has no place in my trading One suggestion, do not get too sucked in to the boxes or the lines, for, they are what they do, we each need to find something that works for us. I wasted quite a bit of time on the boxes just to realize its not leading to anywhere. Common sense tells me secrets are not to be revealed. We all need to find our own secrets, But I have a feeling at the end of the day, all roads will lead to Rome. "All warfare is based on deception.The art of war is of vital importance to the State. It is a matter of life and death, a road either to safety or to ruin. Hence it is a subject of inquiry which can on no account be neglected. " - Sun Tzu