Why Is The Obvious Not So Obvious?

To people unfamiliar with Mr. Hershey:

He has a great body of work here on ET. *Before you respond* to his comments in this thread, you may want acquaint yourselves with his previous writings. This is a must for anyone who wishes to understand him well...Indeed

 

This thread gets curiouser and curiouser. So much so that I think I may have finally stepped through the looking glass.

I can see that in order to make some decent music in the markets I’m clearly going to need to learn some new instruments. I’ve been guilty of just looking to the future, but I actually need to examine other options much more carefully.

If I am understanding things correctly, it would appear that the way to really get up some speed in this game is simply to stop stopping. It doesn’t matter how many banana peels the market throws at your feet, if you stop stopping then you can’t slip on them.

I now appreciate the true value of nothing, which of course is nothing. Funnily enough, I decided to download and read POP today since it was mentioned on this thread a while ago. What a bunch of total arse. “If the market doesn’t prove you right immediately then get out of your position.” Now why would I want to do that when I know the true value of nothing. Yet another book consigned to be recycled along with yesterday’s newspaper.

When you think hard it really is obvious that you should be able to spot a whale in a hedge. After all, a whale is a bloody huge mammal so it shouldn’t be that hard to see it in a hedge. From now on I think I’m going to enjoy looking for whales. In fact, the whales and I might be good friends since when the whales are happy, so am I.

I now also understand why this party needs to be kept small. When there’s not a lot of the good stuff to go around you don’t want to invite too many guests. Bearing that in mind, I have to ask what motivation NYSE has for doing this?

I am still intrigued by a few things such as what part might path play when wandering into exotic realms. However, I have written too much already, and since I have learnt CONTROL in the process of reading this thread, I think the myriad of other questions I now wish to ask are best left for another time and place.

NYSE, my sincere thanks to you for making me exercise my brain. I hope we get to speak on this topic further at a later date.

 

Well, if you want my first impression, as I never heard of him till he posted here, is that, he is full of bull - and I am a fairly good judge of character.

You see, some "traders" actually think they know a lot about the internal workings of the market - when, what they really don’t understand is that there is no need to, at all!

I say this, for one reason, and one reason only, and that is, I have met many like this over the years, and, when I met the "strange" ones, my eyes were opened to the real truth.

By all means, suck up as much info as your 3lb sponge can take, but, please do use SQ3R to evaluate it - for you might be pleasantly surprised what you will "see".

Notice - no smileys.

BTW Jack - nothing personal, just as "I" see it.

 

I like it when traders take that POP rubbish and throw it in the bin. IMHO that is where it belongs

 

SS, you are welcome, and to the question, because "I Like" doing it, remember what half the battle of any job is!

"What goes around - comes around"

At some stage, in every person’s life, the light will start to shine a bit brighter.

For most, this is usually many years after they have started out - for a very small few it happens early, and for those few, they all seem to have one thing in common - some of which you have just described.

I really do dislike it when people try to take others for granted, especially if the "others" are not well off, for the "poor" man should always be helped, not used to "help yourself".

Most of what is written about trading is complete and utter bullshite - some say on purpose to keep the monkeys happy, some say for profit, but, who gives a fuck/

Until the "dim" light goes "bright", one will have to make do with what they get - once this happens, then it is possible for one to get what they set out to get - and that is the "big" difference.

I will try and be more serious - but I find it hard at times, as trading is really such a joke

 

I was sarcastic. And sarcasm is bad and error-prone way to communicate, sorry.

 

To be fair, as A.Simpson might have genuinely put a lot of work into the book, and even though I did bin it myself - it is too far from reality for the "average" trader.

The” average" trader must get the "Hollywood" way of thinking out of his/her mind - as it is a total and utter farce, as we all know, and all it does is make big money for the"chosen" few.

The best thing, I think, that a trader can do to improve on results - as that is the only thing that matters - is to take a $10 and burn it!

"What" - I can hear people say, "but that is easy" - yet, if it is easy, then go and do it, right now, or a £10 note, or a €10 note - I have no more currency symbols, but you get the point

Watch it as burns, and then say to yourself, "what the fuck am I doing".

That is the reality of trading!

Who in their right mind would burn money - but most do it each and every day, and they never really stop to think why:eek:

If it makes you fell better, burn a $100, but don't go any further than that, just in case you get carried away

Come back and tell us all how it felt - I wonder how many will "actually" do it!

We might have a "launch" tonight,

T-13 and counting

 

Tell you what - for the next 12 posts, why don't we talk about some trading specifics?

I was asked do I scalp, and I replied,

"Not in the usual way"

Why would I not scalp in the usual "average" way, trading 1000 to 5000 shares, looking for a few cents here and there, with a possible target of say, 10 trades per day, with an average result of, say;

2 wins of 1K x .15 = +$300

1 loss of 1 K x .10 = -$100

2 wins of 2.5K x .20 = +$1000

3 losses of 2.5K x .10 = -$750

1 win of 5K x .10 = +$500

1 loss of 5k x .05 = -$250

After all, I am still making money after comms are deducted?

 

T-11 and counting

When some traders are working out about the scalping, others are probably more interested in the day trades.

So, lets say that I average,

4 x 0.3K x .55 win = +$660

1 x 0.3K x .85 win = +$255

5 x 0.3K x .20 lose = -$300

What about this?

 

Since you haven't been around take a look at this. It works best when the upper share limit is 100,000 shares or less. At 100,000 shares it takes 20 partials to enter and about 30 to exit. my posted best was 17 points on 100,000 shares where a share was at about 28 plus bucks. Some people can't grasp this. It doesn't mean that thee is anything wrong with them, however. It is just a foreign place, perhaps. 11 accounts were involved.