sick of 'gurus': new trader asking advice from normal traders?

[wackypete2]

Not a bad guru:

Poor guru, excellent marketer.

Peter

 

[BeginnerJoe]

Poor guru, excellent marketer.

Peter

Yes and a scam artist. But his theory on the elephant is sound. It isn't something I didn't know, but he did help me fill in some minor gaps. I didn't pay him anything, nor do I intend to - to him or to anyone else. A good idea is a good idea even if he's a scammer. Worthy of an introductory study for beginners because the concept of an elephant in the market is alien to most people.

 

[rsh01]

There's an old saw that I always keep in mind which goes something like this: the market often gives you a second chance, but invariably at a worse price if it's going to be a good trade. So if you see a second chance at a better price then beware - you'll probably regret it if you take it.

So as the market doesn't know you are entering a trade - it doesn't know this is your 2nd chance or you have entered (unless your name is bruno iksil), and you took the above statement as fact, and you did enter on the first chance....then you wld move your trade to break even immediately or close out the trade as soon as it goes offside, cos otherwise you will prob regret it.

Brilliant. /sarc.

 

[Paulds11]

I would just say to backtest, backtest and backtest.

#1 See for yourself whether your system can be profitable minus commissions and slippage.

#2 See for yourself that your account can withstand any losses the market throws at you by considering the maximum draw-down before you fund your account.

#3 See for yourself that the results of your system are not down to chance by looking at the size of the longest winning streak.

#4 See for yourself that you can trade accurately making few mistakes, by performing that backtest 'manually'. True backtesting takes time.

As they say, a trader who does not backtest is like an athlete who does not go to the gym.

:clap::smart:

PERFECT.. Its a tough road but you look to me like a potential winner.. Keep "trucking"

 

[dazzer_fx]

Yes and a scam artist. But his theory on the elephant is sound. It isn't something I didn't know, but he did help me fill in some minor gaps. I didn't pay him anything, nor do I intend to - to him or to anyone else. A good idea is a good idea even if he's a scammer. Worthy of an introductory study for beginners because the concept of an elephant in the market is alien to most people.

Sigh..So now a bearish/bullish overbar is called an elephant and these are caused
by predominant buyers/sellers. Not bad, apart from the fact that it is complete
frickin nonsense. Also this would definately send a beginner in the wrong direction.

 

[BeginnerJoe]

Sigh..So now a bearish/bullish overbar is called an elephant and these are caused
by predominant buyers/sellers. Not bad, apart from the fact that it is complete
frickin nonsense. Also this would definately send a beginner in the wrong direction.

You seem to know better. Any statements to show for it ?

 

[Paulds11]

Yes I do. The only thing I respect from people are their trading statements, nothing else. Basically you have not yet passed the entrance exams to qualify giving me advise. I may change this view once you show me some statements.

The way I trade/gamble is done for my own reasons and for the particular path I chose for development. It is not intended to conform to cliches that people like to repeat as mantras. If following cliches will make money, everyone will be doing it already, especially all the beginners here with their ratios.

Phwahahahahahahahahahaaaaaa
Phwahahahahahaahahahahahaahahahahaa
A fool and his money are often parted, but your mindset is beyond the insane.
YOU ARE GOING TO LOSE A LOT OF MONEY and I dont think you have got what it takes at the moment to even turn yourself around AT ALL Psycologically. Take a look at yourself. Youre at a Trading forum trying so hard to justiofy to me a stranger that your Gambling is a valid part of your participation in the markets?

Can you see that I do not mean to disrespect you but you do need a wake up call.. here it is.. YOU ARE BEHAVING LIKE A CLOWN. :!:
No response necessary, this is not a rhetorical comment. I dont know you but you should close your trading account immediately and preserve your capital for other things. Trading doesnt sound like its for you my freind.

 

[dazzer_fx]

You seem to know better. Any statements to show for it ?

Lol, that told me didn't it! No statements but a question for you as to make that
comment implies 'you know better'. If between the start and the end of a
'elephant bar' there were very little in the way of pending orders and this was
why the bar was created (ie. not many market orders to create it), would it still
be of interest AND how would you see this by just looking at a bar?

 

[Paulds11]

You seem to know better. Any statements to show for it ?

So your response to information you dont like from someone trying to teach you something is to use a qualification BIAS, ie it makes you feel better to completely dismiss the information on the basuis that you feel them unqualified to explain to you aspects of the market you dont understand. CAN YOU SEE THIS ABOUT YOURSELF? If this inference was valid, would I have learned anything at University acquiring an Masters in business from people who had not become Billionaires in the Tech or Finance sector?

YOU MUST LEARN TO BE MORE VIGILANT OF YOUR OWN BEHAVIOUR AT ALL TIMES TO BEGIN TO CATCH YOURSELF DOING ILLOGICAL THINGS. YOU NEED TO STOP TRADING STOP POSTING SO MUCH AND GIVE YOURSELF A GIFT OF UNDERSTANDING YOUR PSYCHOLOGY IN YOUR TRADING. THIS IS YOUR FIRST AND ONLY REQUIREMENT.

STOP MAKING A FOOL OF YOURSELF AND HIT THE BOOKS

 

[BeginnerJoe]

STOP MAKING A FOOL OF YOURSELF AND HIT THE BOOKS

I don't read books. Although I do like to read statements.

 

[BeginnerJoe]

Lol, that told me didn't it! No statements but a question for you as to make that
comment implies 'you know better'. If between the start and the end of a
'elephant bar' there were very little in the way of pending orders and this was
why the bar was created (ie. not many market orders to create it), would it still
be of interest AND how would you see this by just looking at a bar?

Without a statement, there's not much to discuss. I consider a large bar to be significant according to its context. So when I find a video that shares my view, I don't mind giving it a plug.

As for the idiots who claimed to have been scammed, I think they deserve it. Making money from the market maybe easy if you know what you are doing, making money from idiots is even easier. If someone takes advantage of this situation, I'd watch with amusement. I believe strongly in education that is bought with real money. Once paid, you'd learn something whatever happens.

 

[dazzer_fx]

Without a statement, there's not much to discuss. I consider a large bar to be significant according to its context. So when I find a video that shares my view, I don't mind giving it a plug.

As for the idiots who claimed to have been scammed, I think they deserve it. Making money from the market maybe easy if you know what you are doing, making money from idiots is even easier. If someone takes advantage of this situation, I'd watch with amusement. I believe strongly in education that is bought with real money. Once paid, you'd learn something whatever happens.

Ok, so obviously you didn't understand my question as you would have enlightened me with some of your knowledge. Also, if you consider
'a large bar to be significant according to its context' then surely you
can give me some trade examples including this type of bar within the
analysis, backed up by statements of course.

 

[BeginnerJoe]

Ok, so obviously you didn't understand my question as you would have enlightened me with some of your knowledge. Also, if you consider
'a large bar to be significant according to its context' then surely you
can give me some trade examples including this type of bar within the
analysis, backed up by statements of course.

I don't care to share with you or add to the video, other than that I consider the idea in the video to be useful. Essentially you have nothing I want that I can trade with you.

 

[Paulds11]

I don't read books. Although I do like to read statements.

Good luck with your life man. Luck is the only thing that you seem to have Im afraid.

 

[dazzer_fx]

I don't care to share with you or add to the video, other than that I consider the idea in the video to be useful. Essentially you have nothing I want that I can trade with you.

You said ''Worthy of an introductory study for beginners''

So come on Joe, if your going to make a comment like that back it up with
why you think its 'useful'.

 

[BeginnerJoe]

You said ''Worthy of an introductory study for beginners''

So come on Joe, if your going to make a comment like that back it up with
why you think its 'useful'.

This is one towards the perspective of the elephant. Although this one disguises himself as a shark (@07:53).

Legendary floor trader William Greenspan - Day Trading Made Simple - YouTube

 

[BeginnerJoe]

Luck is the only thing that you seem to have Im afraid.

My first luck of the week:

 

[dazzer_fx]

My first luck of the week:

Did an 'Elephant Bar' help you with this trade?

 

[BeginnerJoe]

Did an 'Elephant Bar' help you with this trade?

Got bombed out by an elephant bar. Had 3:1 RR ratio in the bag. Was too greedy and ended up with 2:1. People should respect the elephant or risk being stomped on.

 

[dazzer_fx]

Got bombed out by an elephant bar. Had 3:1 RR ratio in the bag. Was too greedy and ended up with 2:1. People should respect the elephant or risk being stomped on.

Aahhh was it this one?