Pretty much. The failed trader doesn't admit that the successful trader's success is possible not because he's obstinate; he doesn't admit it because he can't, for if he were to admit the possibility of the veracity of the successful trader's claims, he'd have to assume the responsibility for his own failure, whether because he has no consistently-profitable trading plan (assuming he knows how to put one together), he has one but can't follow it, he has no idea what he's looking at, he's so angry and frustrated that he literally cannot see (nothing is as angry and resentful as a failed trader), he has absolutely no idea whatsoever how markets work. ND has said a number of times that you can provide someone with a detailed trading plan complete with all the necessary rules, provide dozens of chart examples to illustrate the concepts and rules, guide those through it who are having trouble understanding it, and yet few people will take the opportunity to learn something from it. Why? Largely because of what is contained in the first paragraph. The average person does not fully appreciate how debilitating it can be to be forced to admit that one has crapped away three or five or ten years of his life simply because he was too proud to (a) admit that he didn't know what he was doing and (b) seek help. One need only look at the number of traders who insisted on being long on down days and short on up days over the past week to see that few have any idea what's in front of them, whether it's a chart or a T&S display. And yet they keep pushing, laying down their bets for another spin. None of this has anything to do with ND. Beginners -- even those who have been beginners for years -- are low-hanging fruit. They sign up for the trading rooms, they buy the courses and DVDs and software and "special" indicators, they attend the webinars, they trade tips from anonymous strangers in online chat rooms and yet nothing changes. They refuse to assume the responsibility for their own trading, eschewing the whole trading plan nonsense and going instead with their feelings, their "guts". One doesn't even need to pick their pockets; they're holding out their wallets, like supplicants, saying "here". They scour the trading forums and rooms looking for "calls" that will enable them, finally, to pull themselves out of the hole. But it doesn't work. Even when they get the call, they're too afraid to take it. And even if they somehow work up the courage to hit the Transmit button, what about tomorrow? And the next day? Are people like ND to provide RT calls every day, all day, day after day, for nothing? Really? Grow up.
No timestamp feature in the chatroom, unfortunately. When a guru is brave enough to join in though, i'll supply a more premium room with timestamps and bells and whistles. However, I supplied the chart with entries on it so as not to be accused of 'late calls' etc, in lieu of chat timestamps. (although hopefully any of the 20 lurkers can confirm that my trade call was instant and the price was still the same as my call when it was posted ) Furthermore, I'm happy to also provide another screenshot of my ninja platform confirming the trades including the times they were taken? p,s - I'd love similar evidence from you, too
All this todo about "real time" and no timestamps? Really? I've been doing this for going on sixteen years now, son, and I know all the tricks, including all that can be done to P&L displays. If this is what you term "making calls", then I suggest that you visit the chatroom that Nik0 set up for discussing the NQ. The lurkers there will be more than happy to confirm the trades I suggest. Or you could study my trading plan, in which you have no interest, study the rules accompanying that plan, in which you have no interest, match the trades -- most of which are in advance, if you know the rules -- with the protocols, and estimate the profits and losses, even if you're off by ten percent. But you won't do any of that. So I repeat my offer to sit in at the abovementioned chatroom. If you don't want to, that's okey-dokey with me. Have yourself a nice day.
You're just scared of being exposed. I've already heard from one of your lurkers about your non-commital 'commentary' in the chatroom. Timestamps: Does Niko's room have timestamps?? (I don't think so ) I don't think they're a necessity when you've got 20 pairs of eyes scrutinizing you, checking the price as soon as the text on the screen reveals itself. However, better to have them than not. If the guru's show interest, i'll happily pay for the most premium room available. Selective screen sharing. Even a voice/mic app to make it impossible for scammers to deceive. No hiding place!
http://www.elitetrader.com/vb/showpost.php?p=3933394&postcount=849 And, incidentally, even though ND and I have posted these links several times before, there's no harm in posting them again given the overwhelming eagerness with which traders approach the subject of trading plans: http://www.traderslaboratory.com/forums/wyckoff-forum/15535-developing-plan-trading-journal.html http://www.traderslaboratory.com/forums/wyckoff-forum/15896-how-do.html
Daring, can you read or does someone read to you and leave out parts of it? The freaking title of this thread is "Why Profitable Trading Is So Difficult?" The meaning of the word difficult is "needing much effort or skill to accomplish, deal with, or understand". The antonym of the word difficult is "easy". Intraday scalping the 1min/5min is the most difficult method of trading I've ever done and I've made that clear on ET many times. The charts I posted at the very start of this thread illustrate the hard right edge. I took screenshots of my setups (in proper context) just like those charts and I printed them and studied them until I learned to see it in real time and act on what I see, not what I think (it's gone too far, time to short!). As for choppy conditions, sometimes I violate my own rules and I trade in them. I had back to back losing trades the other day trading choppy conditions (conditions where I got impatient and jumped in based on what I thought price was going to do instead of letting the market come to an entry price that allowed my max stop loss to survive). I caught myself quickly, got back on track and recovered the losses in a single trade. That's what a trader's mindset and years of experience does for you; it allows you to recover from "ugly" conditions and even from ugly trading. The trader who never takes the time and effort (extremely hard work) to develop a trader's mindset, is fearful of trading the conditions I illustrate in my three charts, then trades in the chop and has back to back losing trades, then quits for the day in disgust (or due to hitting max loss). You'd do well to read slowly and think about each sentence instead of reacting to the emotions that your misinterpretation causes. I did that for many months via Skype with several ET-ers, 6 hours a day.
But the new class arrives daily. You have to keep doing it. Over and over. Forever. Until you die. Didn't they tell you that when you signed up?