Why do they do it?

This is a discussion on Why do they do it? within the General Trading Chat forums, part of the Reception category; Originally Posted by counter_violent I'm completely at odds with 95% of posts in this thread. Let me try and explain ...

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Old Jan 27, 2011, 4:01pm   #151
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Re: Why do they do it?

Quote:
Originally Posted by counter_violent View Post
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
Add evidence of winners mentality.
Even the player name choice is designed to make the opposition doubt themselves.
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Old Jan 27, 2011, 4:02pm   #152
 
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Re: Why do they do it?

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Originally Posted by meanreversion View Post
I watched Hougaard's room for a few days.. he alerts you to what he is about to do, "get ready to buy eurusd", then there'll be a pause of a few minutes and he'll type "ok bought at 52".. at which point you look at the screen and see a rate of 53/54.

That's not to say that he didn't buy at 52 of course, it's just that it's very hard for the user to replicate.

His website carries links to the Saxo platform, so it's a safe bet he'll get a rebate from any of his subscribers who sign up to that platform. But fair play to the man, he's putting his calls out there and his record is pretty good.
I'm not impressed with the results: October +72 points, November +139 and Dec. -14
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Old Jan 27, 2011, 4:10pm   #153
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Re: Why do they do it?

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I'm not impressed with the results: October +72 points, November +139 and Dec. -14
my god. The FTSE moves about 80 a day and he only captures that in a month?!
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Old Jan 27, 2011, 4:41pm   #154
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Re: Why do they do it?

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Originally Posted by DashRiprock View Post
well look obviously there are going to be bad examples of people paying loads of money for courses and things which are bad

but to say that everybody who coaches or trains other traders is a phoney is well wrong.
Hmmmm,..

Looks like David Robertson aka "MrSpread betting" In disguise....
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Old Jan 27, 2011, 4:48pm   #155
 
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Re: Why do they do it?

I think there are 2 main reasons for antagonism
1. The much hyped expensive course can't be got to deliver.
2. The vendor nearly always seems to imply he still has some better secrets up his sleeve and is not telling. So there !
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Old Jan 27, 2011, 4:50pm   #156
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Re: Why do they do it?

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Originally Posted by Si55AMG View Post
Hmmmm,..

Looks like David Robertson aka "MrSpread betting" In disguise....
sorry but im not a spammer
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Old Jan 27, 2011, 5:05pm   #157
 
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Re: Why do they do it?

Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.
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Old Jan 27, 2011, 5:14pm   #158
 
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Re: Why do they do it?

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Originally Posted by robster970 View Post
Vendor provides 'answer to problem'. Retail punter transfers problem ownership to vendor instead of realising it's of their own making.

There will never be a shortage of retailers living in denial. Vendors provide a service for them - to make themselves feel better. Endex.

Conversely I believe good mentors serve a different purpose and you probably already know how to trade in a basic sense before you'd get value from a mentor. They are not there to tell you how to do it, more to impart nuance and wisdom that shifts you up a gear.
Let's face it - anyone that's really any good does not want to be teaching monkeys that don't know what a limit order is...
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Old Jan 27, 2011, 5:26pm   #159
 
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Re: Why do they do it?

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Originally Posted by DionysusToast View Post
Let's face it - anyone that's really any good does not want to be teaching monkeys that don't know what a limit order is...
LOL but surely they are willing to learn...
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Old Jan 27, 2011, 5:45pm   #160
 
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Re: Why do they do it?

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Originally Posted by counter_violent View Post
I'm completely at odds with 95% of posts in this thread.

Let me try and explain something. If you have an expectation of a trade direction, then the thing that proves the trade is the delivery of that expectation...in other words...when you are in the zone and things are going your way, that is the time to milk it for all it's worth.
It's exactly the same thing with Robster's poker quote. You have to press your advantage when that time comes.
When a boxer has someone on the ropes, he doesn't back off...he steps up his game to try and finish the job off !
Depends on the type of trading you are doing. I've read Phantom or the Pits and he says that you can't be succesful if you don't scale in to a winner. I've never met that guy but I know people that scale out of trades very succesfully.

On a long, scaling in averages up your price and scaling out averages it down. Averaging up your price moves UP the place you'll break even and the place you'll start to lose. It's not something I'd be comfortable with. Certainly if I were to do it, it would have to be pyramid fashion - that I'd probably be able to live with.

I don't think either way is right or wrong but I do feel that day trading is more suited to scaling out than scaling in. Now of course, if you scale out - you don't need the same position size each time, you might go 'all in' on a trade because you feel it's more likely to work out.

Obviously, on way allows you to be in a trade before 'pushing it' and another way requires you to have a clue from the start. If you have no feel for the chance of a specific trade working out, you can't really commit more to any it.

BTW - the phantoms book is free - let me know if anyone wants it. It's a good read.
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