Welcome all

[Grey1]

I welcome all our members to the new forum .. The objective of this forum is to research and develop new strategies to help us achieving more reward with lesser risk ..

Once a trader always a trader ..

PS:-- please donot not transfer or post any of the contents of this BB else where.

Thank you guys

 

[Rognvald]

Thank you Grey1,

You have made a significant personal committment at the start of this forum. It is part of an opportunity which must be taken to move the site on from its present position brought about by recent unfortunate events. I hope that contributors' responses will justify it. The forum will stand or fall on its content which cannot come from you alone.

Hopefully contributors will soon feel able to post appropriately. Their decision to do so here should not be misinterpreted or misjudged by others - any more than the site's decision to set up this forum.

One of the main problems we have as traders is losing control as a result of emotion. This failing is evident among many of us - myself included. We need to overcome it before we can improve our performance.

 

[Grey1]

ROG,

Trading is a very profitable means of Income.. How ever it takes a logical mind to survive the market..

With a poster like yourself this BB will survive and will carry on to be the best Forum in UK .. I have no doubt about this.. I have run such a BB before and the outcome has been great ..

Regards

 

[Trader333]

Grey1,

Will there be any way that we can know who has been invited to join this new forum as I think it would be useful ?



Paul

 

[Grey1]

Paul,

There should be.. I will ask Sharky

regards

 

[Niall]

Thanks for the invite Grey.. looks like this will be an interesting forum!

Niall

 

[ianh]

Thanks for setting this up Grey.

It will be good to spend more time on practical issues and I am sure we will all learn from each other.

Good Job!

IanH

 

[bonsai]

Paul / Grey

you could just ask everybody to sign in - to this thread maybe ?

it would be a simple solution perhaps ?

 

[TheBramble]

First of all, thanks to Grey1 for the invite - much appreciated.

Also, I want to add my 2p-worth to the 'debate' which has been raging in 'general chat' about this BB. I know the whole purpose of this BB is to move into serious discussion of TA and not 'chat', but dropping this intro into this thread (I hope) will be acceptable.

A lot of the 'angry of Chertsey' brigade acuse Grey1 of elitism, arrogance, divisiveness etc. in setting up this 'invitation only' BB. Stating that it's only for the good and the great of trading.

Well, not quite it would seem...

I've been using TA for about 6 years now and I am a BRILLIANT technical analyst and a totally CRAP trader.

I've had 4 shots so far at the market and lost my entire trading capital each time.

I'm a very intelligent guy and have a master practitioner in NLP accreditation which means I should have a good handle on the psychology of the game - and I still screw up.

I've gone in undercapitalised, moved my stop-losses AGAINST my position, waited for my position to 'turn around', changed my time-frames and done all the good things that you don't do if you're a good trader.

I've traded money I couldn't afford to trade and I've traded money that absolutely HAD to make me money (really EMOTIONAL money) or I was stuffed - and I was stuffed - BIG TIME.

Now, I'm setting up sufficient capital to give me room to do the job. I'm looking to move away from SB and UK stocks to NASDAQ to get into where the real action and the real potential lies - but I want to do it sensibly, scale in properly and get some decent tuition before I even think about hitting any buttons.

I've thrown out all my 10 billion systems and home-grown indicators and I want to start with a clean sheet.

Why am I making this decaration (it isn't getting a bit like an AA meeting - hurumphh...or so I'm told)?

Because this BB isn't just about winners with fool-proof systems and advanced trading platforms and systems (although, yes, that's part of it)...it's about people, like me and like you, who are serious traders and take trading seriously, but seriously enough to know that you can't win in this gamne without a seriously whacked sense of humour.

I'm the last person to consider myself an elite trader - quite the opposite. But I am absolutely passionate about trading and TA.

I would make this post in the 'bitching' forum and hopefully put a few people straight, but I doubt it would do that and I may have been a little too pointed with my 'angry of Chertsey' snipe, so suffice that I just make my point here that others can, more artfully, put it across in the other forums.

I way have outstayed my 'welcome' with this long intro missive, but I wanted to congratulate Grey1 on his initiative in instigating this BB and to positively dispel any suggestions that it was just for prima donna's - I'm a newbie with 6 years under my belt. Long may I remain so and start to profit handsomely.

 

[Grey1]

welcome aboard Tony ,

I was long BRCD, VRSN,DELL and CIEN ( if i am not wrong ) When they found ANTHRAX in the bloody white house.. As a result I lost and gave back my entire wins for the month + interest.. This affected my entire philosophy towards trading ..As a result I moved on to understanding the risk and why risk management is the key for trading successfully.

Now a days I first think of my probable losses than possible wins.. This is how it should be.. I am pro now.. I know I am pro because market can not take my money easily.. I still lose but I keep on smiling because I know I will get it back + interest.

The purpose of this BB was to ban the chit chatters and let the forum to be used for people who have family to support through trading .. ..
Lets see if 6 month along the line this BB has made some of us more profitable than before.. I have no doubt it will .. No doubt what so ever..


PS:-- I will avoid to post abstract theories.. I will keep it simple because we all have to understand what and why we are doing it other wise the confidence will go .. Once the confidence go the capital follows..

 

[options]

I still have to grasp the intricacies of vwap trading. As someone who trades off price action and support and resistance from a chart, the k.i.s.s. method suits this simple mind. But my mind is open to all methodologies (if I can understand them.)

 

[BBB]

Same here Options. Im especially interested in the risk adjusted return strategies though, and what everyone's views are on volatility. A neglected essential in my view.

 

[DaveGos]

BBB

I couldn't agree more on the volatility, those big bar moves may be seductive but they'll take you out of the game quicker than almost anything.

 

[BBB]

Bang on Dave! And the small ones will leave your capital kicking around doing nothing while you kid your self the move is on the way!

Can also help with setting objectives, sizing etc....

 

[Grey1]

BBB,

Volatility is the mother of all evils and the reason for us to be in the market.. We can not tame the volatility but we can understand it ..

I will later discuss the practical aspects of volatility and how traders can use their trading knowledge to avoid getting beaten as a result of this monster black hole ..

We have a long way to go guys .. It all takes time and debate but eventually they all come together..

PS:-- The flu is not helping either

Just one quiz

If you had the choice to trade SNDK or MSFT which one would you trade ? Look at the chart in your own good time..

 

[ceptor]

Hi

Thank`s Grey for the invite.
although this is only my second post on this T2win BB and only possible that my post are few in this new forum I am hoping my contributions are of value I have not been lurking but fed up of wasted contributions and idle chit chat on some B.B. this is a business a serious occupation
have known grey1 for a number of year`s now as far back as investor revolution day`s he has been a great advanced contributer a great desire in his work and get`s right down to the core of trading.
Paul, trader 33 has pointed out is the screening of people using this private forum on the last B.B. I was a member with grey 1 one of the members ran a spread betting and Technical Analysis training company using some of grey`s work for profit I alerted the moderator and he was expelled I know grey has worked relentlessly as with other traders but this is a little unfair as his contribution where nil. only to sell on some other traders hard work. I am sure things are a little different now is good to bounce of like minded traders after all we all traders do not think alike if we did the game would be easy street

 

[Grey1]

Welcome Ceptor,

Ceptor is not only a mate, but is also an experienced trader and we go back to late 90's when I first launched CITYINFORMER.COM the first TA site in UK and later to IRD...

Welcome aboard John ..

 

[BBB]

Ceptor - Looking forward to your views 2.

Grey1, MSFT, on a decision based on vol alone. Im basing this on a 5min intraday chart from the last 3 days, using 10 bar ATR to measure vol here, as well as the best indicator in the world - the eyeball!

My reason being that ATR on the MSFT chart is in a shallow up trend, but not at extreme levels. Also, it is at a low in the trend (just starting to tick back up), suggesting that vol should increase shortly. This suggests that should price move against us before we have some profit on the trade, vol wont yet be too high so as to take out any exit point before we can act. If price does move in our favour, probability dictates that the vol should continue its trend upwards, so we can benefit from this tolerable increase - in our favour.

SNDK is also in a vol uptrend, but the 5 min chart shows price has moved too far too fast. The bars are end to end suggesting probable choppy action ahead. The ATR (not that we need to look as the price bars tell it all) is also in an uptrend, but it is much steeper - suggesting danger - more evidence to what we already expect will unfold.

 

[Grey1]

BBB,

lets look at the whole trade from business point of view..

you can make a lot of money from SNDK but you also have to take a proportional amount of risk .. SNDK can move 1$ in few minutes
MSFT is however the opposite side of the coin .. Low reward for Low risk.. Moves 1$ in a month we need to trade the middle ground stocks..
We also must avoid stocks which are due to release news..

SNDK and MSF Tare a prime example of two extremes..

I donot have these stocks on my core data base..


PS;-- naive traders look for momentum stocks.. These guys only See $$$ and chase the fast moving stocks.. They think they are sharp.. They think they have discovered some thing we have not..
They go on about their style of trading being different to others.. RUBBISH... THEY DO NOT UNDERSTAND THE RISK .. MOST THESE PEOPLE END UP TO BE A COACH..

 

[options]

Agree with that Grey1. Both stocks respond well to higher volume both up and down. 15 min chart. Msft moves slow, so to me you would have to have a larger position. Sndk is the better mover on volume, but more volatile, so more risky to trade. Although when trading these shares volatility is something I look for. Never thought you could have too much volatility before though; and trading this Sndk I would be leaning towards very short time frames. Almost scalping if you like.

Interestingly I have been trading currencies almost exclusively eur/usd for the last few months (2nd time around on these. Didn't know what I was doing first time,) and volume is not reported on the pairs. Only on a currency itself, so have been using price and sup and res to gauge direction on daily, hour, 15, 5, and 1 min chart. I think not having the volume graphed takes something away from me.