Difference between amateurs and professionals

This is a discussion on Difference between amateurs and professionals within the First Steps forums, part of the Reception category; Originally Posted by EnlightenedJoe There are no correlations in the markets. When they happen, they are entirely random and coincidental. ...

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Old Nov 4, 2017, 9:46pm   #849
 
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There are no correlations in the markets. When they happen, they are entirely random and coincidental.
i didn't mention correlation but it is something which can be calculated from price data, markets have a various levels of correlation its not made up, you can work it out for yourself - like a moving average. Markets being correlated doesn't mean they are 100% correlated or will always have the same amount of correlation.

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Didn't you see how quickly he exited ?
no i though he might be still in it

btw to me if you look at a chart you are using TA, i have a loose definition of it.. dont you look at charts?
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Old Nov 5, 2017, 2:11pm   #850
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The barjon method you are going to use is about reverting to correlation. Although you didn't mention it, it's about correlation. He stated he was out for £60-odd, and what wood have been - foroom style. 40 years of experience taught him to be cautious. Maybe a few years more under your belt, you will be the same way. I don't believe TA works, therefore correlations don't. Sometimes they do, But overall they are big loosers if you add them all up. This is my general principle on TA.

My own definition of TA is what the shops tell you to focus on. I focus on things shops want you to avoid. Therefore, I don't use TA. Shops take their stuff directly out of the TA books, further proving I don't do TA. I look at what shops are doing and why they are doing it. So you might consider what I do as Shop-A.
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Old Nov 5, 2017, 4:52pm   #851
 
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The barjon method you are going to use is about reverting to correlation. Although you didn't mention it, it's about correlation. He stated he was out for £60-odd, and what wood have been - foroom style. 40 years of experience taught him to be cautious. Maybe a few years more under your belt, you will be the same way. I don't believe TA works, therefore correlations don't. Sometimes they do, But overall they are big loosers if you add them all up. This is my general principle on TA.

My own definition of TA is what the shops tell you to focus on. I focus on things shops want you to avoid. Therefore, I don't use TA. Shops take their stuff directly out of the TA books, further proving I don't do TA. I look at what shops are doing and why they are doing it. So you might consider what I do as Shop-A.
I'm not planning to do spreads no, i've dabbled in the past but I don't like the undefined risk for one. If a spread-trade stop was available then maybe.

Im not planning on being more cautious either! I need to be risking MORE as time goes by..

You look at shop charts then?
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Old Nov 5, 2017, 4:55pm   #852
 
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Originally Posted by foroom lluzers View Post
Professional trader:Good trading is boring , I have nothing to do all week except wait wait wait patiently , for the righ entry

Professionals understand trading phsychology

Amateur :Good trading is exciting: being scalped 3 times a day , then taking small profits and large losses getting scalped.Stress is good ,Let's say you're walking down a path and a tiger jumps out at you. Instantly, you perceive a threat and adrenaline is released. The tiger emotions is exciting , you fear ,get attacked by market , then I win .It is more like the exciting chase before the sex.

Amateurs are driven by their emotions , stress ,mistakes and ambitions , they don't understand trading psychology.

http://www.trade2win.com/boards/psyc...sychology.html

http://www.trade2win.com/boards/firs...at-mentor.html

http://www.trade2win.com/boards/firs...ml#post2893944
Excellent post from someone that has never actually met a professional trader...
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Old Nov 5, 2017, 5:24pm   #853
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You look at shop charts then?
I look at how shops are painting the chart and what they say on news. Then I estimate what they are doing.
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Old Nov 5, 2017, 5:36pm   #854
 
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I look at how shops are painting the chart and what they say on news. Then I estimate what they are doing.
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Trade that are not closed will be closed when in profit.
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Old Nov 13, 2017, 3:42pm   #855
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Hovis is once more in play. Short wheat @4.151 x 1k units, no limits.
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Old Nov 13, 2017, 3:53pm   #856
 
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Excellent post from someone that has never actually met a professional trader...
Alas, no longer a contributor to the site. I think the only professionals he met on a day to day basis were in the mental health arena
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