Why Is The Obvious Not So Obvious?

This is a discussion on Why Is The Obvious Not So Obvious? within the Psychology, Risk & Money Management forums, part of the Methods category; Originally Posted by Lúidín there are 2 types of people whom you will meet in life..the first will be looking ...

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Old Dec 15, 2015, 3:12pm   #25
 
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Originally Posted by Lúidín View Post

there are 2 types of people whom you will meet in life..the first will be looking for you to part with your money..for whatever reason..the second..will not be looking for you to part with any money..and might even help you acquire some money without asking for anything in return
And a third, he who is looking for someone to whom he can give his money. This type is comprised of the vast majority of traders, new and not-so-new.

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Old Dec 15, 2015, 7:35pm   #26
 
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Originally Posted by Lúidín View Post
I am a little confused. Understand the SB data and how they operate, but if you are trading big size are you not better off with a normal broker like IB for Dax, or even the likes of Exante at E1.50 for Dax Ftrs

https://exante.eu/markets/Futures/

I tried the Exante demo, but did not like their software, especially the charts. To be honest, I have had an account with about 5 sb companies, was with Datek and TDA, and been with IB for a good while now, and none of them can beat IB, as they tick most of the boxes, with their major drawback funny enough being their chart features, which is silly for such a big trading broker and would be very easy to fix, but they don't listen to small traders like me.

If you want to PM me with the way you are trading, I might be able to offer some insight into how you might be better off trading to avoid the SB's messing you about, as you rightly say they can only rattle you a small bit, and thing is the traders they employ are not really clued into chart analysis, which is you main weapon.

If you are fine, np.

As for tomorrow, I am not too concerned, as i have some low risk option trades on a low priced oil stock (bout 2K shares), and open 2 long positions in crude for $39 and $40 calls, again low risk, so would like to see a rally in oil before 16Dec - if it happens good, if not then no sweat, as I know the risk and am not worried about it, which is how it should be.

I read an interesting article over the weekend in relation to the feds upcoming rate hike, and many of the big players are expecting a bad Q1, based on the effects the rate hike will have on corporate business, so it will be interesting to see what actually happens.

My preferred style is daytrading the open, with no opinions of where it might go, just look and react to what is happening, get in and out as required, and try to make a good bit more than I lose. For me, I have found the best market to daytrade is US blue chip stocks, for several reasons, namely opportunities at the open.

I am always interested in what other traders are doing.

Lúidín
I do not trade size, I simply look for points in a semi decent session with traction, my method is simple in that regard.

Trading size (well, "size" for me was £20+pp) I found too be way much of a clusterf@(k with way too much pressure. £20+pp may not sound like alot, but it can do enormous damage if your eye is not on the ball.

I do not see opportunity in every session, often the "one-two" dribbles past me & then it rockets (or crashes) without me on board as the price will get sneaked & spiked.

I have started to narrow my timeframe even more than I did, too much concentration in one hit is bad in every sense, this is when we look for ops that are simply not there.

I use SB because I want as least capital tied up in this vacuous industry as possible.
Also I only want to spend a maximum of 3 or 4 hours total in any one day I may be in. This is very hard when my time window presents no ops, but that's the game for you.

I'm fortunate to be in a position where I can dip in & out of the game as & when while having another outlet. Very important in my opinion.
I have no desire to do this full time.

As for your offer of help, thanks, I think you sound like a knowledgeable guy, but my angle is somewhat different to many others, in that I refuse to let this game take over my life, yes it is consistent profit I'm after, but not at the expense of all my time.
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Old Dec 15, 2015, 10:40pm   #27
 
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Originally Posted by tokyojoe View Post
I do not trade size, I simply look for points in a semi decent session with traction, my method is simple in that regard.

Trading size (well, "size" for me was £20+pp) I found too be way much of a clusterf@(k with way too much pressure. £20+pp may not sound like alot, but it can do enormous damage if your eye is not on the ball.

I do not see opportunity in every session, often the "one-two" dribbles past me & then it rockets (or crashes) without me on board as the price will get sneaked & spiked.

I have started to narrow my timeframe even more than I did, too much concentration in one hit is bad in every sense, this is when we look for ops that are simply not there.

I use SB because I want as least capital tied up in this vacuous industry as possible.
Also I only want to spend a maximum of 3 or 4 hours total in any one day I may be in. This is very hard when my time window presents no ops, but that's the game for you.

I'm fortunate to be in a position where I can dip in & out of the game as & when while having another outlet. Very important in my opinion.
I have no desire to do this full time.

As for your offer of help, thanks, I think you sound like a knowledgeable guy, but my angle is somewhat different to many others, in that I refuse to let this game take over my life, yes it is consistent profit I'm after, but not at the expense of all my time.
Np..the only thing i know is that i really know nothing

That said..i have worked out a valid approach for daytrading the US open..took me a long time..wasted lots of years listening to others..when i had the best answers myself..i recently showed a few the basics if it..but it is so simple each and every one of them ignored it..why..well..probably cause i was not charging them any money

It is the same as any other approach..does not work all the time..none do..but it works a lot more than most..and is so obvious most people never consider it..let alone see it

Will not post in public..as some might go off and start selling it to others..which i have absolutely no interest in

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Old Dec 15, 2015, 11:09pm   #28
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Originally Posted by Lúidín View Post
Np..the only thing i know is that i really know nothing

That said..i have worked out a valid approach for daytrading the US open..took me a long time..wasted lots of years listening to others..when i had the best answers myself..i recently showed a few the basics if it..but it is so simple each and every one of them ignored it..why..well..probably cause i was not charging them any money

It is the same as any other approach..does not work all the time..none do..but it works a lot more than most..and is so obvious most people never consider it..let alone see it

Will not post in public..as some might go off and start selling it to others..which i have absolutely no interest in

Lúidín
Would that be Socco and his merry band of loony tunes by any chance ?
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Old Dec 15, 2015, 11:47pm   #29
 
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Lúidín started this thread No actually..if you are referring to Socrates..who specialized in VSA..which never interested me..but was a very valid approach..so his method does not fall under the time wasting.

i am speaking more along the lines of the useless TA books out there..the many self professed mentors..coaches..course sellers..sort of like the majority of t2w members now..as nearly every second person here has what looks like a little car symbol next to his handle..

i would have thought they would all be using twitter and facebook now..or maybe they are..as i could not be bothered to look

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Old Dec 15, 2015, 11:57pm   #30
 
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And a third, he who is looking for someone to whom he can give his money. This type is comprised of the vast majority of traders, new and not-so-new.

Db
If you ask a person for money..he will tell u f..off..if you tell him you can help him make money..he will of course listen..but very few will ever bother to ask the obvious question..which is..can you please show me your trading record..validated by a qualified person..which..if you think about it..should be provided up front anyway..if the provider operated in a professional manner

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Old Dec 16, 2015, 12:33am   #31
 
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Originally Posted by Lúidín View Post
If you ask a person for money..he will tell u f..off..if you tell him you can help him make money..he will of course listen..but very few will ever bother to ask the obvious question..which is..can you please show me your trading record..validated by a qualified person..which..if you think about it..should be provided up front anyway..if the provider operated in a professional manner

Lúidín
It has nothing to do with asking anybody for money. Traders -- and not just beginners -- are all too eager to buy courses, software, dvds, books, memberships to trading rooms, chatrooms, newsletters and on and on. The question being asked is why they do that.

Going back to your original questions,
1. Why do people turn down good advice that can only help them save money, not cost them money!

2. Why do people keep trying to prove something where no proof is really required!

3. Why do people believe what they want to believe, without seriously considering the possible outcome of their actions!
I replied that
The psychology behind all this is not terribly complex and it has been delved into before. But the delving hasn't accomplished much, if anything, because it's always the other guy who has these -- for want of a better word -- problems. And so we go on, and one finds a sameness to it all, particularly in the journals, particularly among beginners. In fact, one who left the boards, any boards, fifteen years ago and came back today would find little difference other than the obsession with forex.
You then stated that there were two kinds of people: the first will be looking for you to part with your money..for whatever reason..the second..will not be looking for you to part with any money..and might even help you acquire some money without asking for anything in return. I added that there was a third: he who is looking for someone to whom he can give his money; this type is comprised of the vast majority of traders, new and not-so-new.

Do you want to discuss any of that? Or do you prefer yet another vendor rant?

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Old Dec 16, 2015, 1:15am   #32
 
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Lúidín started this thread I was discussing it..the main point i am making..is that it will really not help a newbie that much to start giving away money to other people..just to have them show them what is already available for free..and it is all free now..for if one cares to search correctly on the net..they will find all the common knowledge they want

a newbie would be 100 times better off to use the money..no matter how small..to get some live trading experiences..as no matter what course..or mentor..they try..they will still need to master the psychological aspects of trading..which is only done by live trading

of course..if they approach the quest with stupidity..such as ignoring or understanding risk control..then they will soon discover the negative emotional aspects..and with no balance..positive..they will not last pissing time

it really is that simple..but many will have others believe otherwise..for "obviuos" reasons
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