Why Is The Obvious Not So Obvious?

Lesson no.2

Monkeys eat fleas from each others dirty coat, as that is all they know.

 

And what should we take away from this lesson?

 

By saying this, you must know of other threads that are not vague and post usable information? If that is the case, can you post a link to a thread that YOU find valuable?

Another question: How often do you find $100 bills laying on the ground? Even a $10, or even a $1? The answer should be likely never. The reason for this is b/c people value it.

If you knew how to take money from other traders, would you EVER post that information on the internet?

 

Yeah but you don't have to go around being vague and condescending on topics you don't have a clue about.

 

That's it? Figure things out for yourself! I've been saying that on ET for years.

 

Well, not sure I agree with you, I have given this some thought but I cannot think of being able to trade without some understanding of where to place low risk trades and to do so I need to have some idea of how price move or better what is the likely range withing which the price is likely to move on a specific TF.

Now, of course this is not enough, as knowing the path and walking it is not one and the same. I know for instance that the only times I lose more than few bucks is when I know what I need to do (usually take a smaller than expected win or get out of a trade that is not going as expected) but I do not do what I need to do.

All other times I go to the bank with a decent profit or a small loss.

Now if I were to trade without some understanding of the trading range and where to place a low risk trade.... well that's exactly what I was doing when I started trading (thinking that I could get rich quickly without getting the needed experience) and that lost me many many bucks.

 

Yes, but I hope you agree that there is no shortcut to consistency, you need to gain the experience and you need to figure your own way to skin the cat.

 

HELL YES!!!!!!!

 

It took me a while chasing different things at different times and finally realize that market travels certain way (it's on the chart, all TFs, no indicator needed), and as long as I keep my r/r favorable on my side, the P/L tells the whole story.

PS: I didn't see the box the way you see so it's an eye opener to see things w/ different perspective.

 

I don't know if my definition(s) of the Box corresponds to that of NY but they work pretty well for me, so...it does not really matter, does it?

Once you stop chasing the impossible and settle on the probable it is actually pretty easy to make good money consistently!