He was the guy lying about some illness , right? You gotta love when trading gurus start talking about cancer.
I guess no good turn goes unpunished. Pointing the OP to a good free resource of over 220 posts teaching you to trade seems to me trying to be helpful. As for my son's cancer, I truely wish I was lying.
I think I can won't cut it. I've read your posts before, you aren't consistently profitable yet either. You talk a good game though.
My dear long-time ET friends: Should I start doing this now? I love to write, I love to teach, I love to read... Reading is for people who are too lazy to trade.
Thanks to everyone that replied even if in the long run one of you try to sell me something. Looking at the percentage of successful traders to unsuccessful traders I wonder how much of you that replied to my post are amongst the successful. Some of the posts I found really good because it was a challenge and forced me to question myself. I do believe that their are successful traders out their that are willing to help someone like me that is committed. I will never give up trying to be consistently profitably. You don't have be a geniuses or have great power or have loads of cash, but what successful traders have is an EDGE, all I and any one out their in my shoes need to do is find an edge or develop one. Maybe my approach to this thread was wrong. What I am going to do is turn it into an egde developing Journal...how?...I am not sure. I trade forex on multiple pairs using support and resistance, Fibonacci level and chart patterns all of this will hopefully help me to determine price action. My entry will be on the 1hour time frame. Why trade this way?... simply trial and error.
Quote from electroniclocal: 07-25-10 03:27 AM Part of the training fees go to my cancer charities - my son is undergoing chemo and cancer took my father. And finally, I discovered that writing the blog and teaching improved my own trading. Quote from electroniclocal: 07-25-10 11:03 AM I guess no good turn goes unpunished. Pointing the OP to a good free resource of over 220 posts teaching you to trade seems to me trying to be helpful. As for my son's cancer, I truly wish I was lying. ----------------------------------------------------------------------------------- I haven't looked at the blog and I doubt I will. I am sorry to hear of anyone's father or son having to battle cancer. I also understand and admire you for your commitment to donate to the charities of your choosing. Furthermore, anyone who has kept even a poorly organized trading diary should relate to the benefits of writing (and teaching). Skepticism runs deep here on the ET forums, I guess that's just the way it is. I think most people are skeptical about things they don't understand, I know I am. My granddaughter and I went to the grocery store Saturday to pick up a few things and when we were waiting our turn to checkout a young couple with a baby in front of us was shocked when the cashier posted their amount due. After balking at the amount and talking between themselves they decided (under sheer stress and embarrassment, I'm sure) to leave their groceries and walk away! I said, "I'll pay for your groceries". They blew me off quickly (their skepticism). I had my card in my hand and reached for the key pad. The young man said NO I can't let you do this, it's $xxx. I swiped my card and said, "Let's just call it your lucky day". The couple's embarrassment turned to gratitude immediately. The young man wanted my address to pay me back (my skepticism) and I responded by saying maybe one day you can do it for someone else, he said "I will for sure" and shook my hand. The young lady was overcome and was sobbing uncontrollably, she muttered out a thank you and touched my arm. I was quite fortunate Friday trading around the Stress Test news, I had a great day. I've found over time my P/L can seem like just numbers to me. I often forget how little it takes to make a change in someones life. ----------------------------------------------------------------------------------- I just want to trade profitably, Why? Here's another book...... that may help in finding the real answer. http://www.amazon.com/Trade-Passion...l-Philosophical/dp/0470039086/ref=pd_sim_b_49 Trade With Passion and Purpose: Mark Whistler ----------------------------------------------------------------------------------- Quote from NoDoji: 07-25-10 03:11 PM My dear long-time ET friends: Should I start doing this now? I love to write, I love to teach, I love to read... From a not that long and not that sure (friend) Yes, absolutely ----------------------------------------------------------------------------------- <*)))><
woah, you need to do some re-reading, You are lucky to actually get advice from a mlti millionaire. I was consistently profitable since around middle of 2009 to the point of I was absolutely sure I can always make money in the markets. I actually have quite a few million in my trading /investing accounts, but have restricted capital use to 200-400k mainly because of the stop outs for 1M-2M positions are 10-20k. Someting I can't mentally take *yet*. To trade up to the position I must profitably trade up to it 100k at a time. At no point in my trading apprenticeship did I think it was not possible to be widely successful in trading.
I am almost 100% sure I found an edge. I look for pairs in which price is at or breaking previous swing highs or lows. Then I switch to the 30min or 1hour to enter on a pull-back. I have back tested this for a few hours to see if it works and most of the time it did. But when I was back testing I found myself cheating so I test this in realtime Here is a trade I entered a few minutes ago.