reminiscence of(yet) a (novice)trader

This is a discussion on reminiscence of(yet) a (novice)trader within the Trading Journals forums, part of the Reception category; Originally Posted by aag100 what is a trading system? is it something you get from reading the infinite number of ...

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Old Jun 30, 2013, 12:15am   #25
 
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Re: reminiscence of(yet) a (novice)trader

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Originally Posted by aag100 View Post
what is a trading system?
is it something you get from reading the infinite number of books out there,is it something you get from following a guru of which theres as many,is it a black/grey box you can buy and then watch the money roll in even as you sleep?
a trading system is something you have to develop by watching the price over countless hours.throw in an indicator or 2 and see how the price reacts at certain levels in relation to them.ive been told indicators are lagging,well fk me if theres a leading indicator which tells you where price will be beforehand.theres others who say they only use price action.i dont believe that.to me thats seems disorientating
In what way would looking at the key thing that determines whether your (and all other traders) trades are winning or losing be disorientating?
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Old Jul 7, 2013, 1:54pm   #26
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread
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In what way would looking at the key thing that determines whether your (and all other traders) trades are winning or losing be disorientating?
disorientating when your only looking at that one key thing,the price.the price in relation to what?
use abit of artistic flair,some imagination whilst your sitting watching trades or are you one of the better traders whos mastered the art and can set your orders with stops and limits while you go for a round of golf and recieve a message on your phone telling you how much profit you have just made.
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Old Jul 7, 2013, 2:06pm   #27
 
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Re: reminiscence of(yet) a (novice)trader

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Originally Posted by aag100 View Post
disorientating when your only looking at that one key thing,the price.the price in relation to what?
use abit of artistic flair,some imagination whilst your sitting watching trades or are you one of the better traders whos mastered the art and can set your orders with stops and limits while you go for a round of golf and recieve a message on your phone telling you how much profit you have just made.
The price in relation to what other traders have done, are aiming for, and will do. And that's all you need.
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Old Jul 7, 2013, 3:57pm   #28
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Re: reminiscence of(yet) a (novice)trader

Indicators are for losers is what .I have found out so far and nobody tell me that I don't know how to use them properly...
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Old Jul 7, 2013, 4:09pm   #29
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Re: reminiscence of(yet) a (novice)trader

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Indicators are for losers is what .I have found out so far and nobody tell me that I don't know how to use them properly...
I beg to differ. A tool's usefulness is determined by the user, not the tool. If you use a hammer to paint, it's not the hammer's fault you chose it and did a bad job.

I use indicators, for example, but in a way that suits my personality and trading style in a way I haven't seen on the net.

Moral of the story: there's no real right or wrong way to use indicators, use them in a way that makes sense to you.
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Old Jul 7, 2013, 4:17pm   #30
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Re: reminiscence of(yet) a (novice)trader

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I beg to differ. A tool's usefulness is determined by the user, not the tool. If you use a hammer to paint, it's not the hammer's fault you chose it and did a bad job.
False analogy....99.99999999% of those using hammers produce something. 99% of those who use indicators lose money. Even if you think they are 50%, still it is a false analogy.
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Old Jul 7, 2013, 7:56pm   #31
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread i want to hear a winning trader call a loser a loser,not a loser a loser.winning traders know indicators may work for some and not for others and that each trader needs to find their own edge.
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Old Jul 7, 2013, 10:00pm   #32
 
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Re: reminiscence of(yet) a (novice)trader

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i want to hear a winning trader call a loser a loser,not a loser a loser.winning traders know indicators may work for some and not for others and that each trader needs to find their own edge.
it took me a long time to realise that there is no indicator worth having on a chart.
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