Advanced trading lessons - page 70

[jim]

here is my trades at tricky places

refined places just past support..

if the first buy is hit only take near the top of last high..

the secound buy may even not get triggered until later!!!

gold prices are entries .. white are stops.

i like to place my stops where i actually get two chances to be correct.

[jim]

one thing you all may

one thing you all may have noticedis:

i change my veiw about what the market may do?

this is an important lesson !!!! i felt no doom or embarisment for changing my veiws!!

i just kept adjusting to what the market is doing! this is not weekness this is sign of me slowly

becoming a pro- trader. i picked up an old trading book i bought a few years ago. one that

i had read before.. it's funny but this book actaully baored me to tears before!

it is written by Curtis faith.. the Tittle is: Trading from your gut

i started some light reding and realized ever time curtis talked about what pro traders do.

and i realized most things i already do, and the things i do not do. i have been just a tuch off

confidance with.

but i have to share this out of the book because as we all progress this a hurtle you all will face

this great advice!!!

here is two things that struck me right in the face!! the first is:" a master trader has the constant

capability too: have very strong opinions, weakly held"

also he said: " you have to pay attention to the reality of the market"

and the the other thing that struck me is: he said, " you have to have an edge" a sytem developed

with an edge" we have all that here!!

we have several edges!! we also have me with strong conviction yet willing to change my veiw!!

keeping my convictions weekly held!

the thing i need to work on is: when he says you look at chart and you just know this is whats going to

happen adn it does.. he says, to trade the veiw you hold with pulling the trigger is this: you have a conviction

about something send it to the reason department (in your brain). then send it back to the intuition department.

to make sure it's ok then pull the trigger!! this is the thing i lack!!! right here like a slap in the face!!

why didn't i take the up move breaking out of the channel after i said that's what it's going to do?

because i did not have process for mentally pulling the trigger in a intution situation.

slap slap slap!! i like this book now!!!i needed to here that!

[jim]

he also said this:

if you have winning edge and experience, that = conviction. it also makes any loosing

trades not a big deal!! why because you know in the long run you will winn more than you loose.

so you never loose faith! and more importantly your not backing a loosinng stradagy with faith!

i am 100% possative this is a winning stradagy with an edge.. i am 100% possative it will sometimes not work out

I.E. loosing trades.. i am 100% possative we have a stradagy that winns long term.

i am possative we can adjust our convictions though they may be strong ones! when needed!

and you all are welcome to have an opinion about the market any time some one wants to post that is welcome!

[jim]

i had to modifie

i had to modifie the sell price a little higher... because now that we got closer to the level

smaller price action on the back side of the four hour time frame trend line has one more jab up before

a nice move down..

here is the modafication.

[philt]

SO yet again your shorts have been triggered and again stops blown..

Why aren't you trading in the right direction? If you'd been long and used your targets areas for going short as targets for taking profit you'd have made good money. Instead you are waiting for trades that are never going to happen, it's almost like you are trying to pick tops which is very dangerous.

I honestly think you have a good strategy here buy you are using it back to front, any one else see the same?

[jim]

yesterday

yesterday comcast internet went down after 1:00 pm some time.. at 11:30 am i came home for lunch to

move my stop into favor.. then i got kicked out of the market!! with a small winn...

then later at night we got internet back. i put anouther short trade in and no time to share it!

i am determined to sell this uptrend i don't know why? except listening to the B.S. market news

and how this eur-- is valued way to high against the dollar... any ways i am in the market here!!

this is the 15 minute time frame!!!

sorry i could not share this in advance.

[philt]

Boe I tink I'm done with your thread I just don't believe any one can be this stupid so now I think you're just taking the piss.

Fact is doesnt matter what you think, what your opinion is or how you interrupt market news , because you can not move the market.

I think your targets are quite good shame you are using them to enter instead of using for profit targets.

Good luck.

[jim]

philt

this type of trend is rare! this is only the third time since 1985 where the target

side of the trend keeps getting surpassed. this happened for three months in

2009 - also in 1995 march. thats how rare it is. normally the counter trends

are larger! normally they come in as the market falls away from the target side.

so it is rare that the market keeps moving in one direction for long periods of time

with out some A B C D. try counter trends..

now targets!! you said i am good at picking they out!! well targets and turning points are the same thing!

60% to 70% of all counter trend moves are inside moves the others are high ones and high two.

so finding targets are the same as: #1 getting into a market reversal!

#2. or a large pull back.

this trend is not producing pull backs to any degree!! if you knew that in advance why didn't you tell me?

why would you sit there and cry like alittle girl about my lowsy ability to know this trend would have

no real counter trending? or even a reversal ??? i wish you would have told me that in advance..

oh thats right you did not know? well guess what it's something that is unforseable!!

and still i made four out my last 6 trades posative.. not great but my acount is till up.

dispite this freak trend.!! and you have proven to me that you do not have the inteligence to go on

trading... so go find a job!

let me tell every one else this!! every single sytem and aproach to the market will have a draw down

some time. our draw down has not hurt us at all really! most sytems draw down are painfull not

profitable.

the market will return to normalsy.

to be great with trend trader you have to be a good target trader... targets and reversals are the same thing..

of course i should have been looking at down side targets in a up trend!! thats my mistake..

the news i get has been so far off it's not funny!! so the news is full of shit!! well i knew that!

but ussually they are only temerarly full of shit... not long term full of shit.. thats unusual also...

all the cards stacked against us and we still made money!!! thats a goos sign of solid sytem!!

if anyone finds a weekly trend where the target side kept increasing while the counter trend side

is very minimal for such a langth of time it's insane let me know.. i only know of two other times this has

happened.

[jim]

you see

you see it much easer to find the tradet side potentail counter trend level than it is

the trending side level.

so that is what i have been doing. this has been my mistake! fron now on i pull a target from both sides

of the market.

beleive me i am not to happy with the recent resault iether!! but at least my account is still up!

[jim]

99%

99% of all trends only stick there nose out. stronger then the target side then counter trend heavey after doing so!!

most trend dont even stick their nose out but once or twice this way... most of the time trends fall away from

the target side as they move.

this trend sticked its, nose out of the target side and kept going!! i found that happened in 1988 for three days

so i found one more example.

bottum line!! fuck the rare acurences they may be head troma while it's happening, but it may not happen again

for anouther 20 years!!!!!!!!!!!!!!