The rules of trading text books can't tell you.

[Hoggums]

I'm bored. Here are my rules.

1. Support/resistance lines are elastic, they may flex a little before the bounce.
2. Always count your unrealised losses. Don't count profits until they are realised.
3. You wife/girlfriend/partner will NEVER understand what draws you to trading. DON'T BOTHER trying to explain it to her/him.
4. You always get a phonecall/interruption just as you are considering closing a trade and return later to see half the profit disappear
5. The more certain you are about a trade is inversely proportional to the success of the trade.
6. The stronger you disagree with the analysis of another trader is proportional to how correct they are.
7. The older you get - the more unlucky you get.
8. Intelligence is inversely proportional to luck.
9. Any trade you take that is not part of your trading plan will move into a loss immediately and remain so until you close it. Then the market will reverse to a point where you would have been in profit.

Feel free to contribute more.

 

[KillPhil08]

I disagree with 3.

 

[megamuel]

Man I thought I was pessimistic!!!

 

[Masquerade]

I fail to follow point 9. I open a chart click buy randomly. Why is it a definite thing to move into loss immediately? It could easily be profitable whilst being an act of randomness.

 

[shadowninja]

I fail to follow point 9. I open a chart click buy randomly. Why is it a definite thing to move into loss immediately? It could easily be profitable whilst being an act of randomness.

But is it?

And if it is, then that is because your trading plan is to buy randomly.

 

[FXSCALPER2]

Pretty rubbish there, Hoggums. Luck is inversly proportional to intelligence? What kind of bollox is that?

 

[Skill Leverage]

I'm pretty amazed that none of you have seen the fact that after point 2 Hoggums is clearly taking us for a ride, getting (intentionally) more ridiculous as he goes down his list.

Unless you all know that he is doing this, and are pretending to seriously question him, in which case I'm the idiot. But then you don't know that I know that he knows that thing I didn't not do.

 

[shadowninja]

You mean it's not all facts??? Godammit!

 

[FXSCALPER2]

You mean it's not all facts??? Godammit!

Opinions are unprovable whereas nonesense is provable.

 

[Hoggums]

Lol - guys - you take trading far too seriously!

 

[counter_violent]

I disagree with 3.

Which 3 ?

 

[everyonerich]

book never tells you dont predict the market if you want to make money.

 

[FXSCALPER2]

Lol - guys - you take trading far too seriously!

hehe

 

[barjon]

However quietly you whisper "just another 5 points and I'm out" the market hears and stages a vicious reversal.

good trading

jon

 

[foredog]

No need to whisper Jon, the market's psychic...you only need to think it!

 

[Skill Leverage]

Ohhh... I like to whisper too... the only problem is sometimes I don't have anything to whisper about, so I just pretend like this... "psshh shhh wshhhhh shhhhhhh"....

 

[foredog]

Ohhh... I like to whisper too... the only problem is sometimes I don't have anything to whisper about, so I just pretend like this... "psshh shhh wshhhhh shhhhhhh"....

Do you often get funny looks walking down the street?

 

[Paul71]

Opinions are unprovable whereas nonesense is provable.

Totally correct. Market risk is all in the eye of the beholder, but nonsensical opinion is proven in the results of the trader.

 

[Skill Leverage]

Do you often get funny looks walking down the street?

I do, but more due to the fact that I'm naked than my whispering.

 

[Gaggs]

However quietly you whisper "just another 5 points and I'm out" the market hears and stages a vicious reversal.

good trading

jon

This explains sooooooooo much!

See before I just always thought the market was dyslexic and did the opposite of what I knew it should.