J SMITH...how have you been? Does your trading require any INTUITION to make money at all? If yes, intuition is DIFFICULT TO MEASURE OR DUPLICATE, therefore one could say trading with any element of intuition would make trading in the markets complex/difficult to some degree...not "EASY". Point is...J SMITH and his intuition make trading easy for him...right? But that doesn't make trading easy. Doesn't EXPERIENCE give us the intuition we need, yet we all are going to get a different learning experience in the markets? Shooting free throws in basketball should be as easy as ABC, but it's not. If you have some mechanical system that works well and doesn't require any thought...that's not easy either. PLEASE TELL US HOW TRADING IS SO EASY! After trading for 22 years, I would never say trading is EASY...even though it seems like it when I'm on a long winning streak! Thank You Mr. Irishman.
Mr Irishman - why didn't you just say "Paddy" intuition ɪntjʊˈɪʃ(ə)n/ noun noun: intuition the ability to understand something instinctively, without the need for conscious reasoning. "we shall allow our intuition to guide us" Well BC, we can repeat what we read elsewhere, or we can try use common sense, which is of course not that easy for most. We all agree that "there is no substitute for experience" - BUT - with trading (as we are trying to go against everything we have been taught as a child, and that is, we should strive to be the best and win), things might just be that little bit different! Again, we will try and avoid the textbooks. We all also know that in order to make money, you need to trade, and, when you trade, there is no guarantee that you will win, for, as soon as you get filled, no matter what you have done - or seen - previously, the market can revers on a dime and "catch you out". Again, we all know the "odds" and "probabilities" bit - so, let's move on. Now, let's say there are certain "times", which can be seen each and every day, that we "KNOW" the odds of price moving a certain range, are very high - let's call this our text book "edge". If I take someone aside, that has never traded before in his/her life, and say to them - "watch this".. ding dong..merry song % set..in case get wet tick tock..like a clock reason be..it called "MONEY" Now, at first read, they will say, what the fuk are you on about, you thick Irish Paddy But, as the clock advances, and they see the trades being opened and closed, they suddenly begin to realize that making money is as easy as ABC, ONCE they do the exact same thing that they saw working! Therein lies the BIG problem, for, as soon as they start, every silly and ridiculous thought will enter their head, and, FUK THEM UP! They do not need any previous experience, apart from the ability to tell the time and know that there are 60 seconds in a minute, and 60 minutes in an hour! Why can most people, as in 99.99%, not do one simple thing exactly as shown, without asking questions or doubting - has it anything to do with how the human brain works! As Morpheus rightly said - "there is a big difference to knowing the path, and walking the path" This should get interesting J_S
Paddy...thanks for your response. You said "KNOWING odds of price moving a certain range are very high=edge"...this is the part of trading that I believe isn't as easy as ABC...yes...no? Not everyone can develop this "edge" and if one is fortunate enough to have one...it may have to be adjusted to new conditions..this adds more complexity/difficulty..again, not easy. I do agree, if one has been given the EDGE, a lot of traders will find ways to screw it up, but getting the edge is HARD..isn't it? My 2 cents.
Exactly why it is better to latch on to something that works each and every day - for daytrading of course, as holding open positions for any period greater than 30 min, or so, will of course require a different approach. It is all relative. The hardest part is " staying on the bus" - once this is done, then, it just becomes a matter of time. So, it is as easyas ABC=123, but that is the problem in itself - for, the easy things are always overlooked, by all but the wise I could show you how it works in bout 10 min - but would have to do about 2-3 hours work in Excel to demonstrate why it works - as, without proof words are of no real value. If you say that what I now know , came from many many hours of research, wasting money, trading experience and ability to use Excel - then yes, there is no substitute for experience- unless of course I decide to show someone, and they agree to do exactly what I show them, with no doubt, hesitation or worry - one must "stay on the bus" in order to get it to work. This is why all of these so called educational courses are of limited value - teaching the masses is not the same as individual tutoring - in order for someone to really learn it must become a part of their life - with only family taking precedence. Anyway, it will never happen - I have not seen one person who is "capable" in all the years posting on various websites, as, it takes a lot of effort to be different from most, so, the majority will always go for the easy way out, even knowing it will be to their own detriment. So what makes me different to most, refuting almost everthing put forward by most - well, the only thing I can think of, is.. " the only thing I know, is that I really know nothi ng" Another day begins, and tomorrow will be no different! J_S
Why not let him grow up first, enjoy his childhood without having to worry about statistical analysis before he reaches puberty? You're the parent, but I think in retrospect, if my parent had me studying boring charts while I still wanted to play with a rubber ball, it would have been cruel. What 5YO needs that homework, when all they want to do is play? Let his brain finish forming neural pathways and become able to cope with social constructs before isolating him in front of a few monitors. *shrugs* Just an opine.
@Overnight I appreciate your input. Please read my posts a few pages back and they answer your concerns.
@Deuteronomy_24_7 I suspect not. It's a method that works for him and I think most that mentor do it because they need that money. I have a simple philosophy when it comes to mentoring for money. Those that charge, have a need to charge. If they have a need to charge, than their income from trading is probably not sufficient. In that case, one would be climbing the wrong tree to get the fruit . Very rarely have I seen someone mentoring at no cost, and when that happens, most times they will do it because some sort of a relationship exists or there are other personal reasons. Most successful traders want to "live"; isn't that why most venture into this playground in the first place?
If your son at the age of just five has an exposure to '' - what bulls and bears are (green/red candles, ppl who buy/sell etc) - direction and price movement that bulls and bears produce - a little play with fibonaccis, trend line drawing, pitchforks etc. He does not have much of an understanding of these tools, besides trend line drawing. He knows how to connect the swing highs/lows, draw channels, wedges and triangles.'' then I bet he is one intelligent smart kid and a whiz at math. I must congratulate you for being able to expose your kid to this knowledge so far, it is remarkable since most kids will have great difficulty in understanding and easily forget the bare explanation of what candlesticks are .With this pace he will definitely be a great trader .His brains are developing and is a good time to bind information well.Let him play with just the basics without any attempt to trade on your account alongside his usual kid fun time.My only advice is not to turn bumptious wanting him to learn it all ,let him grow at his own pace and remember he would need his kiddy playful memories when he grows.