Sell and buy the close

This is a discussion on Sell and buy the close within the General Trading Chat forums, part of the Reception category; Originally Posted by Quantt LTCM was an example that even smartest people make mistakes, in their case the leverage was ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Mar 12, 2018, 10:38pm   #16
Joined May 2012
Quote:
Originally Posted by Quantt View Post
LTCM was an example that even smartest people make mistakes, in their case the leverage was the killer... As one of my high school friends used to say:
"There are three ways to go broke: "ladies, liquor and leverage""

Al Brooks: long time ago, I have read his book "Reading Price Charts Bar by Bar" and it is complete BS. Here is the evidence that he is not trading right from his website and the reason that he is not trading, is because he knows that hi is teaching BS to his "customers"

"Any mention of trades in financial instruments should be assumed to be hypothetical."

With all your knowledge about Al Brooks, are you using his $99 a month service and if yes, are you making money with it (this is the bottom line isn't it?) and would you recommend it to the OP and if you are not using it and not recommend it, why not?
Nice try again in an attempt to change the nature of the conversation. The conversation isn't about Al Brooks per se but an approach to learning. AL Brooks was simply a conduit to the conversation.

I have already outlined the two reasons why I disagree with your philosophical approach. Your response was merely that you disagree. You have not offer any undercutters or defeaters. I am happy to engage in a intellectual debate over that but not some retarded conversation over Al Brooks.

The OP's original question was about buying strength as a trading approach as mentioned by Al Brooks. Your comeback was don't listen to Al Brooks. When the OP asked what then? Your reply was just backtest until you get it. The problem in my view is that this OP is relatively new to trading and therefore totally ignorant in many things. It is like a driver who is looking for direction and your reply is try everty route until you get there. I think it is rather unhelpful to someone looking for spefific help and you provide your standard default answer - backtest.
__________________
_______________


Those who know do not speak
Those who speak do not know
Since I have spoken, I do not know
Brumby is offline   Reply With Quote
Old Mar 13, 2018, 1:54pm   #17
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by Brumby View Post
Nice try again in an attempt to change the nature of the conversation. The conversation isn't about Al Brooks per se but an approach to learning. AL Brooks was simply a conduit to the conversation.

I have already outlined the two reasons why I disagree with your philosophical approach. Your response was merely that you disagree. You have not offer any undercutters or defeaters. I am happy to engage in a intellectual debate over that but not some retarded conversation over Al Brooks.

The OP's original question was about buying strength as a trading approach as mentioned by Al Brooks. Your comeback was don't listen to Al Brooks. When the OP asked what then? Your reply was just backtest until you get it. The problem in my view is that this OP is relatively new to trading and therefore totally ignorant in many things. It is like a driver who is looking for direction and your reply is try everty route until you get there. I think it is rather unhelpful to someone looking for spefific help and you provide your standard default answer - backtest.
OK, maybe I am not clear enough, so let me put out my advice to the OP in one post:

I do believe that all those "trading educators" do not actually trade, but are making money by selling the dream to the newbies, fully aware that their teachings are wrong and the result are the new trader is losing not only the money for the "training", but continue to lose in the market after that...

And the reason for this is that any widely used strategy will be arbitraged away by the money put into it, number of examples, like the turtles, etc...

My advice on how to find your edge is to start back testing any trading strategy/idea you can find for free (no point on paying for BS) and even tough all of them will fail, you'll start to get the feeling for the market and start to get your own ideas and sooner or later you'll find your edge...

This is my experience and this is what worked for me personally, before that I was losing money like any new trader until I realized it is all BS and I had to "unlearn" all that and started fresh with the back testing...

If Brumby can recommend a book that will cut out this time/back testing, I am always on the lookout for new ideas and will gladly read it, but before using it, I'll back test it all the way, as one of my high school friends used to say, "trust, but verify"...

For Al Brooks: no trading record, he claims it is against the law to show trading record, which is a lie, what is against the law is to show fake trading record... One book I have read is a BS with nothing concrete inside, so again my personal advice to the OP is stay away from this guy and do not waste your time...

Hope this helps.
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

Count de Money number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is offline   Reply With Quote
Old Mar 28, 2018, 11:45am   #18
 
Aresiom's Avatar
 
3 Posts
Joined Mar 2018
Everything depends on the mentor, if he works fairly, then he sells and shares his real experience in trading while being an active trader. But there are very few people like this.
Aresiom is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
sell to close or let it expire? oprookie Futures & Options 4 Jul 15, 2017 2:35am
Can I buy at x and sell at y... 2infinity33 First Steps 5 Nov 9, 2013 8:59am
'Buy at Close' in metastock abcpankaj Trading Software 2 Dec 29, 2008 5:50pm
Buy SM Q4 & sell SM F5 bgold Commodities & Money Markets 0 Apr 29, 2004 10:58am
Buy one and sell the other andrewh25 Trading Systems 2 Jan 5, 2004 4:31pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)