Technically Fundamental
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Best part of it is that IMO the post that is causing all the controversy is rather generic and just isn't really that good.
Why i think most traders fail? Change your ways. Now.
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Technically Fundamental
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I didn't sorry.
I'd say the delusional ones are the ones that actually believe they are good in themselves as opposed to pretending on the internet. Probably a few of them on here too.
I'd say the delusional ones are the ones that actually believe they are good in themselves as opposed to pretending on the internet. Probably a few of them on here too.
GladiatorX
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Was just trying to offer advice... Doesn't matter what your perspective is of the person giving advice - It is intended to help users and therefore should be deemed a constructive contribution. If you want to expect that all traders are unsuccesful then i don't know why your on a trading forum, the only reason i could think of would be to feel bitter about your own trading experiences, which have probably left you feeling as if the whole things a scam by the sound of it and that, since you weren't able to profit, no1 can.
Either way, its just conversation on a forum, so who cares.
Regardless of your opinion on me, i'm aware through your posts of your trading capabilities and know for a fact that i am in a position that you would probably want to be in, therefore my advice should be valid, if you wish to denote it on the basis that i'm a liar then fine... Was only trying to help you and other individuals who are failing.
As i've already said, individuals who know it all, yet can't profit must have a problem - I was just displaying my views on this problem and highlighting what i think the problem is. Whether or not my statements are valid in your eyes are up to you decide, just keep in mind that i was trying to help you become a better trader.
GladiatorX
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Totally disagree.
1. I do not think i am the only one who can trade, that assumption is ridiculous
2. Many proffesional traders are extremely arrogant about what they do and their is a lot of proof for that - Books, Interviews, Tv appearances, Newspaper articles, blogs...
GladiatorX
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Nice one... I hope writing that progresses your trading abilities.
Look, i don't mean to be mean, but i honestly, i really seriously don't care about what your saying so like whatever man. Chill out, don't waste time talking to me about things i just totally am uninterested in, like 'ur a sheep' ... Whatever cool, i just don't care what you have to say. Your nobody to me, i'm nobody to you, so whatever man
rofl.
I can't believe the internet is so serious for you. Especially forums
Technically Fundamental
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Yeah right I always say you can't be profitable in trading. You have just summed me up
. You know me so well. I'd love nothing more than to be a from-home spread better who haunts forums spouting sh*t "advice" posts as proof I'm so great and then getting caught red handed plagiarising lol.
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Ur the one who spent how long on here typing that out? Oh right ok. And it must be quite serious for you if you feel the need to come on here and tell people how good u r. And once again if your so uninterested don't come on here pretending to be something ur not. Also trying to give advice to be people under the false pretense of being an expert isn't cool.
Sorry TF wasn't talking to you, i agree with what you said.
Sorry TF wasn't talking to you, i agree with what you said.
GladiatorX
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Seriously, i really mean it, i honestly don't care about what your saying... I can't even be bothered to read this one i'm so uninterested.... Already tried to convey this previously.
Technically Fundamental
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Thanks for the "TF is annoying" comment btw as well mate.
Technically Fundamental
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tenbobtrader
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"In many situations we face in daily life, we recognize that action must be guided by reason. Thinking is a powerful antidote to impulsive behavior. A perfect example is the breaking of habits. We learn to overcome compulsive eating or drinking by making ourselves first think about the consequences, then consciously choose an alternate course of action. Without clear thinking about priorities, it is far too easy to fall into patterns of behavior that offer short-term rewards but longer-term consequences.
So it is for traders. Having worked with dozens of traders over the past year, I can vouch for the fact that, among active market participants, overtrading is the single most common problem they face. Overtrading in this context means putting trades on where there is no explicit edge—and even no valid rationale—for the trade. Generally, the reasoning behind the excessive trade is nothing more than, “I felt like it was going up.” What the impulsive trader fails to realize is that this is no different from the dieter’s excuse, “I felt like eating the chocolate cake.”
A common occurrence for me is that I will go into a trader’s room and observe him/her trade. Although the trader may be struggling and losing money every day, generally they make money while I am watching them. This is not because I am offering such grand market insights; usually I do not impose my market views on a trader. Rather, I require the trader to verbalize the reasons behind his or her trade. This has the natural effect of slowing down their trading and making them distinguish between genuine trade ideas and mere trading impulses.
From my vantage point, all trading ideas boil down to variations on two themes:
1. The market is trending, and we want to buy pullbacks in an upward trend; sell bounces in a downward trend;
2. The market is range bound, and we want to sell moves toward the top of the range once buying dies out; buy moves to the lower end of the range once selling dries up.
If I am employing solid reasoning in my trading, I want to assess the status of those themes in both the time frame that I am trading and in the larger time frame. A trend in a shorter-time frame may be part of a range in a longer frame; a range in the short time frame may be a consolidation within a larger trend. Not infrequently, your ideas regarding targets for a trade will come from the assessment of the larger time frame.
A sure-fire way to identify impulsive trades is by their absence of a well-conceived exit. Ninety percent of the effort is going into getting into the trade—the entry—because the purpose of the trade is to be in the market, not to make a profit. The impulsive trader seeks action, not results. Because exits are associated with the cessation of action, they get short shrift.
Conversely, the reasoned trade contains several components:
1. An assessment of current price behavior: Is buying pressure expanding or contracting; is selling pressure expanding or contracting; is price volatility expanding or contracting?
2. An assessment of market conditions at shorter and longer time frames: trending or bracketing?
3. A target for the trade: A move to new highs/lows for a trend trade; a move toward a price mean for a bracketing trade.
4. Criteria for stopping the trade: Conditions that will convince you that your trade idea is no longer valid
5. A decision of resource allocation to the trade: How much of your capital you are willing to put at risk on the trade idea.
If talking these five components out loud before each trade would lead you to trade less often and would lead you to trade far differently from how you’re currently trading, there is a likelihood that you are overtrading. There is definitely something to be said for having a feel for trading. That doesn’t mean, however, that feelings substitute for market knowledge and awareness"
by Brett
So it is for traders. Having worked with dozens of traders over the past year, I can vouch for the fact that, among active market participants, overtrading is the single most common problem they face. Overtrading in this context means putting trades on where there is no explicit edge—and even no valid rationale—for the trade. Generally, the reasoning behind the excessive trade is nothing more than, “I felt like it was going up.” What the impulsive trader fails to realize is that this is no different from the dieter’s excuse, “I felt like eating the chocolate cake.”
A common occurrence for me is that I will go into a trader’s room and observe him/her trade. Although the trader may be struggling and losing money every day, generally they make money while I am watching them. This is not because I am offering such grand market insights; usually I do not impose my market views on a trader. Rather, I require the trader to verbalize the reasons behind his or her trade. This has the natural effect of slowing down their trading and making them distinguish between genuine trade ideas and mere trading impulses.
From my vantage point, all trading ideas boil down to variations on two themes:
1. The market is trending, and we want to buy pullbacks in an upward trend; sell bounces in a downward trend;
2. The market is range bound, and we want to sell moves toward the top of the range once buying dies out; buy moves to the lower end of the range once selling dries up.
If I am employing solid reasoning in my trading, I want to assess the status of those themes in both the time frame that I am trading and in the larger time frame. A trend in a shorter-time frame may be part of a range in a longer frame; a range in the short time frame may be a consolidation within a larger trend. Not infrequently, your ideas regarding targets for a trade will come from the assessment of the larger time frame.
A sure-fire way to identify impulsive trades is by their absence of a well-conceived exit. Ninety percent of the effort is going into getting into the trade—the entry—because the purpose of the trade is to be in the market, not to make a profit. The impulsive trader seeks action, not results. Because exits are associated with the cessation of action, they get short shrift.
Conversely, the reasoned trade contains several components:
1. An assessment of current price behavior: Is buying pressure expanding or contracting; is selling pressure expanding or contracting; is price volatility expanding or contracting?
2. An assessment of market conditions at shorter and longer time frames: trending or bracketing?
3. A target for the trade: A move to new highs/lows for a trend trade; a move toward a price mean for a bracketing trade.
4. Criteria for stopping the trade: Conditions that will convince you that your trade idea is no longer valid
5. A decision of resource allocation to the trade: How much of your capital you are willing to put at risk on the trade idea.
If talking these five components out loud before each trade would lead you to trade less often and would lead you to trade far differently from how you’re currently trading, there is a likelihood that you are overtrading. There is definitely something to be said for having a feel for trading. That doesn’t mean, however, that feelings substitute for market knowledge and awareness"
by Brett
Technically Fundamental
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That's an awful lot like Carter's mastering the trade.
Brett Steenbarger, I imagine....
Charlton
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Listen to yourself - that's the trick
Test it using your own intellect and experiential reference.
In other words listen to yourself.
That is why newbies need to take time to go through this process.
If newbies wish to pay for courses then fine, but they must do so in full expectation that they may be paying for a dud. In time they will be able to discern the useful from the useless, the scam from the genuine and so forth. With hindsight they will be able to determine whether the cost of such courses were worth it.
Obtaining information via the web or books may well be a slower process than via a course and, for some people, courses are more suitable for their personality. It will cost less in time and less in hard work, but they may lose in other ways.
If people on T2W seem overly negative about these things it is because we have seen the same very professional sales techniques being used time and time again. This does not mean that everything taught in courses is rubbish. In fact it is probably a phase that a learner must go through before they can become more discerning, more adapt at triage and to see the reality of the markets.
It is in my opinion something like enlightenment, something like the practice of Buddhism, where one passes through a series of steps only to return full circle to a state of simplicity, but where the journey itself has subtly developed one's understanding.
Thus you see the reality of the market by experiencing it, by time spent in its embrace - both the embrace of a lover and the deadly embrace of a poisonous spider.
It probably all sounds like psycho-religio hogwash, but it all boils down to experience, question, engage with the essence of what things truly are.
Charlton
Charlton
Collect information from any source you wish.
Test it using your own intellect and experiential reference.
In other words listen to yourself.
That is why newbies need to take time to go through this process.
If newbies wish to pay for courses then fine, but they must do so in full expectation that they may be paying for a dud. In time they will be able to discern the useful from the useless, the scam from the genuine and so forth. With hindsight they will be able to determine whether the cost of such courses were worth it.
Obtaining information via the web or books may well be a slower process than via a course and, for some people, courses are more suitable for their personality. It will cost less in time and less in hard work, but they may lose in other ways.
If people on T2W seem overly negative about these things it is because we have seen the same very professional sales techniques being used time and time again. This does not mean that everything taught in courses is rubbish. In fact it is probably a phase that a learner must go through before they can become more discerning, more adapt at triage and to see the reality of the markets.
It is in my opinion something like enlightenment, something like the practice of Buddhism, where one passes through a series of steps only to return full circle to a state of simplicity, but where the journey itself has subtly developed one's understanding.
Thus you see the reality of the market by experiencing it, by time spent in its embrace - both the embrace of a lover and the deadly embrace of a poisonous spider.
It probably all sounds like psycho-religio hogwash, but it all boils down to experience, question, engage with the essence of what things truly are.
Charlton
Charlton
tenbobtrader
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"All kind of knowledge, eventually becomes self knowledge"
"Use only that which works, and take it from any place you can find it."
"Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it."
Bruce Lee
"Use only that which works, and take it from any place you can find it."
"Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it."
Bruce Lee
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i been readin T2W for couple years now but only just signed up. don't want to be addin fuel to the fire but gladiatorx, weren't you just a kid a couple weeks ago (you and the other young lad whatsisname, tammyJ or sometin) Neither of you seemed to have a profitable system? now you an expert all of a sudden?
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GladiatorX
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i been readin T2W for couple years now but only just signed up. don't want to be addin fuel to the fire but gladiatorx, weren't you just a kid a couple weeks ago (you and the other young lad whatsisname, tammyJ or sometin) Neither of you seemed to have a profitable system? now you an expert all of a sudden?
No... I don't know why you'd think that... Quote me and maybe we'll see what your on about...
Its not about having a profitable system you noob, its about being skilled.
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