This is the kind of criticism I would expect from a community of people for simply trying to express my beliefs on topic - Trading Systems

jlgardner263 2009.10.21 05:57 #21

Okay, seriously everybody, I thought this was an open community where we could all discuss real things in a real environment without any sort of judgment upon who we are, where we come from, etc.

I apologize for getting in this e-brawl with Walander, I honestly know nothing about him, but at this point do not care to learn anything about him.

I am new to this forum. Does that make me new to trading?

Answer that for yourself.

I speak of faith and confidence... does that make me a fake?

I believe not. Because I do have faith and confidence in my self. I separate my and self. I do that for a reason.

In all honesty none of you know anything about me. To call me a kid is ridiculous. I am almost thirty years old. How old are you? Who cares? I don't. I've found that my niece and nephew at my age minus ten years are as smart as I am. This is not the kind of welcome I would expect from a community of people for simply trying to express my beliefs on a topic.

I am not the type of person that likes to get into bickering matches, and yet here I am. I have just recently started posting on this forum, but I have avidly read posts and tested new ideas for months now, I don't understand why my poking my head in deserves criticism like this.

I think it is wise to consider what other people have to say before you bash, slash, and completely deny it. I don't expect much lasting success for those who have no faith in themselves. In my line of belief, there is no way to succeed without faith in something. I believe (have faith) in my own ability to trade the currency market as much as I believe in the system that I use (developed and tested! on my own) that I will throw my real money down on it. If I lost it all, I really could give a yeah, because there's more where that came from. But that's not going to happen, because, as my friend here states in his profile, "I did my homework first."

I actually didn't have to do my homework first, as I traded the stock market for 7 years. These markets function generically the same. I could trade commodities, oil, gold, forex, stocks, whatever, and achieve the same results (I would just have to be more patient.)

I could screw the whole trading game and go with a slew of other ideas that would work just as well, but I genuinely enjoy my job. I don't plan on leaving it, because it provides opportunities to help people that I otherwise wouldn't have. That's all I'm about. I want to help people. If you're the kind of person that wants to converse with someone who wants to help you out of no self interest (and yes, there is no self interest here, I am not promoting anything, I am not trying to sell you anything, I am asking for nothing, anything I do here does not earn me anything) then by all means contact me.

In regards to Roulette, I actually played European and American Roulette. This was just for fun. If you're familiar with roulette, you will know that Russian Roulette involves a revolver loaded with one bullet, and American and European Roulette are table games that you play at casinos. It's the one where the wheel spins and the ball lands on black or red. That's a very simple way of explaining it, but it should do well for a simple mind. The only reason I mentioned it was in regards to the Martingale system the boy was talking about. I played Roulette martingale style. It is a table game. It is one of my favorite games to this day, and I will tell you that if you would like to hook up in Vegas I will rape the roulette tables using my system. But in the end it's all for fun. I enjoy having fun. Sue me.

But I cannot prove this, nor will I attempt to. I know what happened, and who cares.

Thank you

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xx3xxx 2009.10.22 17:08 #22

if we have a tendency to lost in daily gross profit /daily loss

how do we make use of that -- so that we tend to win ??

I think it is hard to rewire our brain, play with bank professionals, or hit the other button, when we try to hit ONE (for buy / sell)

any one got some constructive method -- I am thinking of one for myself right now

maybe (probably) , FX got some intrinsic game design, like the machine inside casino -- normal human being got less than 5% to make money out of it -- but try to squeeze all your money IN--- and taken by the banks (could happen to stock market, but small capital stock that people don't pay much attention -- that would be better)

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PIPmaker 2009.11.02 23:48 #23

Hey, ALL: I trust everybody that commented on this thread knows something about trading- and that's fine as long as you respect the "boundaries", namely your own point of view. Only youself can assess the quality or style of your trading. Despite commonly know techniques etc. trading is highly personal and embedded in everyones very own CONTEXT (including but not limited to expectations, needs, different point of views, skill, misleading how to messages from so-called gurus etc.). And there is the problem, why so many junior traders (< 3 Years) lose considerable amount of money.

Gardner: eventhough I would not repeat Walanders words I agree to his initial statements and actually understand, why he is so upset. Do you? Faith is not a basis for consistent long term success in trading (you may talk about intuition after some level of mastery that required learning within a specific context and consistent action with expected results over an extended period of time).

Making things look as simple or easy as you do is EXACTLY the kind of behaviour, that leads to mass-failure - sorry;

If things work for you that's great (for you), just please don't pass on these things as "tips", "knowledge" or "ultimate truth" for others to build a life on it. Looking at your statement, you are trading w/o stops, jumping in and out at any time and both ways. Again- if this works for you -be happy.

Much more to say, but I think you've got the message.

Now. Since this thread was about why people lose; there are several reasons and many points of failure, starting with the title. How about changing the mindset towards winning and rename the thread to "How to win 9 out of 10 trades". Then we would describe all the things it takes to become a success trader (there are plenty of books, so we cut and paste them ...) and assume failure if those rules are ignored or missed.

Trading is based on principles. If you don't know them or ignore them you will have virtually no chance of "winning", whereas winning is not defined as a small series of accidently successful trades--

Below some examples of these principles (both, related to market mechanics and behaviour -and in NO WAY complete)

- You need [a set] of your [own], working and tested trading rules

- You need to be confident, that they work and how they work

- You need to STICK to them during trading and review them after trading

- You need to expect changes in market conditions

- Trade closed bars only

- Trade one direction only. The larger timeframe will win

- Get the money management in place, needs to be simple, quick and somewhat safe.

- Don't get greedy

- Trade on entry points only

- If you miss the trade, the next trade will come around the corner - so hopefully you will still be available to catch it.

- Select any timeframe you wish, but stick to it during the trade.

- High can go much higher, low can go much lower

- High and low can turn around - quickly

....

There's A LOT more, however, those "theoretical bulletpoints" are also dependent upon the context and therefore USELESS for anyone else-especially novice traders, mainly because the whole understanding part is missing.

"In todays world of "instant gratification" people spend $5 on a single cup of coffee; how can you expect people to learn and wait 2-3 years to make it big? It needs to be instant - that's why people lose in the first place." (me)

Cheers,

PIPmaker

One of the best possible trading setups can be as simple as ONE displaced MA (7x5) used as ultimate, automatic trendline, that represents whatever the market is actually doing (hello, reallity) (try it on GBPJPY, D1 or H4 or M15). It does, of course, not alter your psychological setup or skill, but simply assists in determining the current market activity. It's like showing a door .. and you know the rest.

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Tommy 2009.11.03 02:20 #24

jlgardner263:
Okay, seriously everybody, I thought this was an open community where we could all discuss real things in a real environment without any sort of judgment upon who we are, where we come from, etc.