MightyMouse

I took your post to mean that the entry and exit decisions of traders are what caused their failure.I think that most traders are bright enough to learn that what they are doing isn't working and are bright enough to figure that out pretty quickly. What happens next in the progression of their extinction is a variable. But, I think it can be summed up to their realization that they are not traders. Don't take my post to mean that I am right and you are wrong. You, in fact, may be completely right and I could be completely wrong for all I know. What I do know is that I am bored as shit when the markets are closed.

He is on sabbatical, studying up on newer better methods to help his members become even more profitable. He shut it down for you. You may also want to consider that your lifetime membership may have expired. It could be that the site is still there for others to use, but not for you since you are dead. There are many people who roam the continent not realizing they are dead. You, on the other hand, as a member of Huddy's room, are fortunate since you know you are dead because you have lost access to Huddy's room. I do believe that the above 2 scenarios are perfectly viable for you. The last thing I would consider is that you got completely ripped off.

You're making a strong assumption. Your suggestion that most people aren't successful because of "what they are doing". I would suggest that most people do not succeed because they are undercapitalized and have unrealistic expectations, and they over- trade. The archives of TL are full of decent ideas from traders who are now extinct or have at least moved on. I will bet that we can find the "thing you are doing" somewhere in the archives.

You have to look at the market before each trade and determine which direction is it trying to go and how good a job it is doing getting there. You really only should have entered short if the market looked like it was trying to go down. It could be that your entry was a mistake. If it was a mistake, then certainly do not try to take a short again. If it wasn't a mistake and it still looks like it is still trying to go down, you should enter short at the next opportunity. If it did look like it was trying to go down and you got stopped out and it is now unclear to you if it is trying to go down or up, then stay out. If it was trying to go down and you got stopped out and it now looks like it is trying to go up, then get long at the next opportunity. Whatever you do, the thing you don't want to do is sit there and cry about the loss and wondering if life would have been better if dad would have played catch with you more often. In other words don't feel sorry for yourself. Losses happen and they happen a lot. It has nothing to do with you. If you make it all about you, then, figuratively, you are doing exactly what the market wants you to do. The market needs you to be weak and stupid so it can take your money. The market is the collective pool of other traders. Direction: There are a zillion tools that will help you determine direction. Find a set of them and get comfortable with them until you trust them. Then, never, ever take a trade which opposes them. The way you trade the direction or if you trade the direction will be determined by how well it is doing, going in that direction. The conditions could be too volatile for the strategy you use or not volatile enough for the strategy you are using. You want multiple strategies to trade different conditions, but always being cognizant of the direction. Your loss sucks but it is a fact of life trading the markets electronically. You are not always going to get the direction right and the strategy you use will not always be the right one. That is why you have a stop. Accept the loss, understand that the loss could be bigger and be prepared for the next trade either in the same direction or the opposite direction.. On the other hand, nothing is better than when you do get the direction right, and your strategy is working and the green is pouring out of the market. When you get the hang of it, it is actually easy. So easy that even a European can do it. MM

I think what Dennis mostly proved is that trading could be automated. He did find people who were able to robotically use a system that took money from the market. As most note, the same system doesn't yield the same results. If those traders are still trading then, I would argue that he in fact found traders who knew how to trade in spite of his system. What is unknown is how closely he followed the rules of his system to achieve the gains that he did. The legend of Richard Dennis seems to stop at 200 million. The untold portion is that the same skills that helped him achieve those gains, also wiped him out. He was in the right place at the right time and didn't realize the impact that luck had on his results. In time, all gamblers break even.

It is unfair to only talk about half of the Richard Dennis story.

They will probably start with a bank program. Something to unify all the banks under one program and somehow centralize the management and risk of those banks. I suspect that there will be member states who will want to leave. Stronger members who do not want to be micro managed and who stand to lose. Seems like a natural response. But it will lead to a prolonged process. There are too many established systems that would have to be changed to make a single currency work. Then I am not too sure why anyone would want a single currency like the US.

I agree. Limiting the number only adds an element of randomness to your trading. You could take a few losses, stop, and then the good trades per your strategy appear and you do not take them. You end up losing when you should have had gains. Execution is key. Learn to properly execute your plan under all emotional conditions and keep losses to a minimum. Each trade you take should be well below the max level of account risk you can take on a daily basis. If it isn't, then you are probably trading in a game that is too big for you. Coming out of a bad day with a 10% loss is nuts. My very worst days were less than half of that. Just my 2 cents.

I suspect you picked up on sarcasm in my statement. I can see how you would be correct since you simply don't care about the sim account and can do things like add and add to losers since it really doesn't matter.

The summit will produce a statement that they hope will calm the snow ball from continuing to roll down hill. They hope to change sentiment without committing. No one wants to commit since commitment comes with a large cost. So, so much will have to change to have an effective single currency. It is not something that can occur in less than 5 years. 5 years may be too optimistic since 2 years have passed and nothing has changed other than some money being thrown at the problem.

I think anyplace is a decent place to get in short dependent on your risk tolerance. Throw away the charts. The euro is heading lower. Sub 1.100. I don't know when, or for sure. There is no way to fix the mess in the short run

From the sounds of it, you should trade more than one stock. If you can't do it economically, then you are better off trading an index instead of trying to call a market with 1 stock. An index won't give you the benefit you might get from selecting weak stocks. However, your weak stocks don't have to go down in a weak market either. Your experience with 1 stock will be duplicated with multiple stocks from time to time.

A plan is good. Looks like your plan design is to not be human. It is somewhat hard to do since you are human. As humans, we get angry when we lose and happy when we win. Each of these reactions are completely natural. It's easier to accept that you are happy or mad than to pretend that you are not happy or sad. Don't beat yourself up for being human. That is crazy. Doing well trading is not the same as acting non-human. Another tactic you might want to try is to get all the happiness or anger out before you take another trade. Better to release the emotion fully than to suppress it. Just my 2 cents.

I sat waiting to trade oil and I had a fedex envelope on my desk. I got up and accidentally clicked the mouse with the corner the mouse and was filled and lost $200. I moved the envelope away and waited for a trade got distracted moved things around, then got up and accidentally clicked the mouse with the corner of the envelope. Another $200 loss. The envelop perished.

I don't think anyone is looking for magic. I do believe if you are willing to say you do A or B, that you should be able to prove that you do A or B. It adds credibility if you support your statements. All people who are not suckers think the same way. We also know that someone who is afraid to back up his claims with proof is likely hiding something. In this case his is hiding his inability to trade as well as he claims he can. It really is that simple and you choose to complicate it. From your perspective, I understand your need to blur and divert. Whether I can trade or not is not at question. I assure you I do not and cannot earn 1200 a day on a 10k account as you claim you can. Admitting that I can't is no issue for me. I think most people who are not selling a dream or are not still following a dream will concur with me.

Again, you try to divert the questions. It doesn't work. I think I feel very safe suggesting that either you do not trade or are very fearful of showing your results since they won't come close to what you pretend to be able to earn. Enough of the Sim is harder than live, and enough of the attempt to protect your students from over-expecting good results by seeing your results. Incidentally, a notary only confirms that the person signing is actually the person signing. He does not confirm that the data is accurate. Again, you attempt to confuse with BS.

Me too! I struggle with sim trading and then I trade live and make a lot of money. This makes sense.

I think you are a lot smarter than you make yourself out to be. You go to a university and you know exactly where your professors went to school, their degrees, their accomplishments, etc. Those who are frauds go down hard if they provide misinformation. I took courses when I was in schools simply because of who they were. Their accomplishments and credentials make them more credible and it becomes easier to fork over a large amount of money to learn from them. Students seek the same from a trading mentor/instructor. If you say, you are a guru, then you should be willing to show them that you are a guru. If you say you earn x percent, you should be willing to show them you earn x percent. In the same way that a professor says he received his PHD from MIT, he should be willing to show that he did. What would you think of a professor who refuses to show that he has a PHD from MIT and says that you should attend one of his classes for 3 hours and you will be able to tell that he knows what he is talking about and that should be proof enough? According to you, that should be good enough for you. I highly doubt it. Yet, this is what you force upon your students if they ask. In the end I think it is you who is deliberately missing the point.

One more hour would have done it. Do you see EUR/USD as being in a down trend? If yes, does your system attempt to call bottoms?

Rodger you answers seem to be well thought out. Question 2 really has only one good answer.: Yes. "Yes", I do or will provide statements. You didn't provide a "Yes". It is a very tough sell that you are protecting your students from over-expecting too much from their trading, preventing future trading casualties by not letting them view your notarized statements. I suppose their trading improved immediately when you ceased disclosing your statements. I do believe that people get what they deserve and those who have paid for your services deserve exactly what you are providing them.

You expect a reversal. What are the implications of the reversal you expect? Does it mean that there is a favorable trade opportunity to take a long with a good R/R? Is this talk or are you going to take a trade there?

I get that a lot of this is chart language but I find it very indecisive and confusing. It seems that the reader would not know what to do until after it is done doing what it was going to do and then he can marvel at what it did and feel that he knew it was going to do what it did, but he wouldn't have made a penny since he was undecided about what it was going to do until after it did what it was going to do. I do find the highlighted text particularly funny.

It could be that he is a diamond in the rough.

My wife makes things disappear all the time. She can't even explain it. It is without doubt a miracle that I am still married with all the magic that occurs. Are there any miracle indicators?

The thread is about magic. in my not so vho magic is unexplainable so the thread is perfectly on track.