Making money is easy, it is keeping it which is the hard bit. Translate that into trading - what does it mean to you and how do you make sure you keep it when you make it? I think the mention of a person called "Grey" I think, holds a big clue ! J_S
Discovering the obvious is just the first step. What makes the real difference is the way that you do it. Reminds me of a cheesy early 80's pop song.
buywhenitsgoingup_sellwhenitsgoingdown, I am glad you decided to shorten your handle, and I will shorten it even more now and call you UD I remember the song well, and I actually liked it! What really makes the difference is not the way that you do it, but to "make sure" you do it when you see it, win or lose! J_S
Keeping it was never a problem for me because I never achieved a positive P&L. That's why I've spent countless hours pouring over this thread in the hope of finding a better way. If only I knew then what I know now.
E48, some call it "the school of hard knocks". I have my own thoughts - and most of the problems we face as traders is due to the way we were educated, as the methods used for centuries, and still being used to this day, are silly and do not really "teach" the student the "best" way possible - if you want to get an insight into why the majority of people are stupid then take up reading history and especially the writings of a small, pathetic looking individual who lived in France in the 16th century - see how long ago it was challenged and "ignored" of course, for "obvious" reasons. Think of it this way - we evolved from monkeys, so it is not stupid to expect that we still have some monkey traits in us. A few know this very well, and know well that.."monkey see monkey do". If you continually stop yourself from opening your mind to other possibilities, then you are a monkey, just like most, and the few in the know will just keep on throwing u bananas to keep u happy and in your place! Take everything you ever hear or see from anyone with a pinch of salt - open your mind and see what a different way of thinking can really do for you - and only eat 1 banana a day, just in case J_S
Also E48, things happen for a reason - do get that silly ridiculous "good luck" statement out of your head forever. There is only 1 other species more thick than a monkey, and it just happens to be the biggest bird in the world! Why do think an ostrich can not fly - again, if you think about it, how could he learn to fly if he sticks his big thick head in the ground any time he feels a little "pressure" coming on - sound familiar! What is also beneficial to assist with correct way of thinking, is to look at your own life, and see how major chages happened every 7 years, this is called a cycle! Can this benefit your trading - well, some swear by Elliot and Gann, but never forget u are a monkey - so, do we have to study such things as geometry and waves to make money trading - well, again, I would say it all depends on what you are trading and how good you are at thinking for yourself - I would say that if you trade commodities then you should at least be aware of what the big players do to take hedging and speculative trades, but if you sre daytrading stocks using options, you need to know a bit about delta, volatility and time decay. What you "need" to know should be dependant on what you are trying to achieve - you can not make a silk purse out of a sow's ear ! No matter what you trade, I truly believe that if you ignore "history" you are just wasting your time - you need to get your head out of the sand (your arse) and stop eating more than 1 banana a day, then you should quickly gain the required knowledge to let you beat the few in the know at their own game - and give them the 2 fingers J_S