Thanks for dropping in RN. I've found your posts very thought provoking, which is why I highlighted them in the PDF I provided a link to earlier. Was this the relation you were hinting at in the post below? 90% lose - BLASH/SHABL 10% win - BHASH/SLABL
Hey ED48 90% lose - BLASH/SHABL 10% win - BHASH/SLABL This has to do with the mkt's environment - and trading it accordingly ========================== 90% lose, 10% win - consistently This has to do with who actually puts in the work to become successful ===================== Outside looking in - trading comes off as one easy gig - everyone thinks they can Step in the nut house - only those who come to terms with their self end up making it Coming to terms takes work RN
Then figure out why you can't - and change it As one of my esteemed colleges posted not too long ago (paraphrasing) Life is a series of journey's - sometimes singularly..., sometime in multiples Enjoy each - for at the end - that is all there is You're Very Welcome Sir RN
Read ScoobyStoo's posts, and the OP's replies, in your PDF. I will give you another clue. Those in the know gave much more away in their early posts when they weren't so cagey.
You could be right there The biggest problem for most, I think, is the fear of losing money. There is an enormous difference watching prices live on a screen, and watching your P&L change - there should not be, but there is, for all but a few. A four year old child can make money trading, as all you have to do is draw some straight lines on a chart and tell him to buy if the price goes above the top line, and sell if the price goes below the bottom line. But, how do you make sure the child will do what he is told. Simple, you tell him that if the price comes back over the line, and he doesn't get out fast, then he will have no money for sweets in the shop Simplified a small bit, but not much, but he will learn quickly that he can get back in even after getting out, so he can still buy some sweets! J_S
I don't know where he gets his figures from, but this author claims the 90% majority of (FOREX) traders who lose are doing BLASH/SHABL. The 10% elite do BHASH/SLABL. http://www.streetdirectory.com/trav..._trading_strategy___the_secret_of_timing.html Maybe he's just another so-called expert who shouldn't be listened to.
Hi ED, I think the point is in the way price move, if you can intercept a measured move once it has started you are likely to see the price to keep moving that direction for some time. in a way it is safer to BHASH since the move has already started while to BLASH you need to bet that the price will turn around and start moving the opposite way. The OPs in the Obvious thread often referenced buying a bit when price stops betting that it woud turn around and then once the move was confirmed buy more... I guess the problem now is how do you figure out if price has started a measured move or instead is a fake move...
Hi VO, There's an old saying "price is never too high to buy and never too low to sell" Of course, the more extended the move already the more uncomfortable it will feel to open a BHASH or SLABL trade. That's why the majority of traders don't do it. The price may immediately reverse or the move may continue for a bit longer or even quite a lot longer. There's no way of knowing, and that's the nature of gambling. Ed
E48, I believe that is true to an extent, but what is also true is "some times are better to buy than others, and some times are better to sell than others" - not it is "sometimes" better, as there is a big difference! So, we now have another question to ponder on besides buying or selling high or low, and that is "when" do I buy, or "when" do I sell? Time = Money for a valid reason! Why are Swiss timepieces known for their accuracy? J_S