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Everything posted by MightyMouse
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I think you may have been mistaken. My friend, I am certain, had a higher Trader IQ. The deceased trader you speak of is believed to have lived in the Santa Barbara, CA area. Oddly enough it is reported that his death was actually carefully planned and a result of extensive testing. His survivors seem to all concur that he was by no means gun shy even at the time of his death.
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The more you post, the more profitable you become.
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I knew a guy who asked too many questions about trader IQ and he was terminated. I thought it was only from this site, but his phone was soon out of service and my emails to him all bounced back.
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Suppose you were a poker player and someone who plays Texas Hold'em told you that he cannot remember the last time he or the people he taught to play poker have lost with a pair of aces in the hole. What would you think? A.) He has been very lucky B.) He is a liar C.) Either A or B is a possible answer D.) He is such a good poker player that when he gets aces he wins. If you are not a poker player and were aspiring to play professionally, you might choose D, but after lots and lots of hands and experience, you learn that D is just not possible. Depending on your people reading skills, you may be able to pinpoint which of A or B it is exactly but it is not necessary to do so since C includes the logical disjunction.
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Siuya, Some traders have a method that they researched that they know is right and can call bottoms and tops withing 1-2 points, they can catch the majority of a move, and they are correct 80% of the time. When you learn this method, you do not make mistakes and if you do make a mistake, you know right where the mistake is made and you can correct it without it having an impact on your psyche for the next trade. It is so good that a student who, by definition, is still learning can apply it and know that he his right and thereby avoid the pitfalls of being gun shy like the other 300 million traders who learn to trade. I am not sure why this is not clear and obvious to you. MM
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The statement that “there are no gays in Iran” was a statement similar to one made by Mahmoud Ahmadinejad when he was asked about the treatment of gays in Iran. It was ridiculed and he was considered to be out of touch with reality since homosexuality is a commonly occurring phenomenon. Your statement that “In my class, we don't have this problem (anxiety about pulling the trigger)" seemed very similar from an ontological perspective. If you do really know everything that is going on inside of your students minds then I certainly apologize for the comparison. Most people cannot read minds and I assumed that you were like most people. My bad
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Your students do not have this problem like Iran does not have gays.
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The outcome of the bear eating you is unacceptable.
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You guys seem to me to view HFT in some sort of awe stricken manner and assume that they all make money. Trading sub minute does not guarantee anyone anything. They face the exact same variables that we all do. The HFTs promote themselves as being more than they are to attract funds so that they can make fees. Wall Street firms are expert not at trading but from sucking money from the the large moneyed gullible public. Its all about the fees. When you watch 60 minutes think of the program as an infomercial for the subject being covered instead of a valid, objective news source covering a topic of importance.
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Introduce Yourself Here - Don't Be Shy!!
MightyMouse replied to trading4life's topic in Beginners Forum
A big mistake is trying to buy low and sell high or short high and buy back lower. You can make just as much money, if not more, buying high and selling higher or shorting low and buying back lower, taking advantage of the "experts" who try to buy low and sell high or short high and buy back lower. Leave the top and bottom picking to the "experts".- 2023 replies
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MMS, Trading is a very competitive business. It is hard to make or maintain a high ROR for a long time. Most people already know this. MM
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I wish I had more time to respond, but I don't so all I have time to say is that I wish I had more time.
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People, in general, are willing to guarantee themselves a small gain, but less willing to guarantee themselves a small loss. This means they are willing to take larger risks when they are losing and are not willing to risk losing a small gain. To become a trader, you need to overcome this inherent flawed way of thinking. As a trader, you need to take advantage of the those who do have this flawed way of thinking. If you do not like the idea that you are taking advantage of the weaknesses of others, then you should probably not trade. Imbedded above is the key to the thinking that will allow you to keep your losses small and let your winners run. Your strategy, set-up, analysis is completely secondary to the importance of the way you think. You do not need to know what the market is going to do, you do not need to know how to catch a trade close to the turn, you do not need to identify a pattern, and etc.; instead, you just need to know how to take money from it. It really is that simple. Catching the turn, trading a pattern that works, etc is certainly great when it happens and likely leads to a trade with a very large profit, but your profit will still depend upon your ability to let your profit run. Once you get to thinking the right way, it is impossible to go back to thinking the wrong way and you will be taking more from the market than you will leave. You will also be disappointed at the amount you will be able to take in the long run. MM
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US policy is to promote US interests and provide them with an unfair advantage in domestic and global commerce. THE US policy on natural resources is to hoard them by owning them, controlling territories that possess them, or be allied with countries who are rich in them. Recent history have shown and future events will show how bad an idea it is to take sides against the USA on most matters especially if you are in possession of vast amounts of natural resources. Ron Paul's ideas are theoretically good and logical, but would never pass muster in congress since his ideas have the effect of removing control and leveling the playing field for business interests. The US would be more likely to figure out a way to hoard more gold at these high prices than they would be to sell it. Our goal is to drink everyone else's milkshake first and leave ours for last. These are, of course, only my interpretation of US policy and in no way am I condoning their actions. A downgrade of some sort will happen and so will some sort of restructuring or default. It won't be called a restructuring or default but the net effect will be the same.The issue is not so much how much we spend or have spent, as it is the amount we have promised to spend. We have something like 78,000 people turning 65 everyday. We currently have about 25 million people over age 65 and collecting SS (social security) and receiving medicare benefits and in 2020 we will have 100 million people over the age of 65 and receiving SS and Medicare with only 120 million people working and contributing to SS. The likely fix to it all will be some sort of new medicare trust will be set up that we will employees and business owners and wealthy retired tax payers will have to contribute to to fund future medicare obligations. Just a guess.
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if you are trading in the direction of the "main" trend, then I would be patient and wait for price to come back to your target. If you are trading counter to the main trend and you do not get filled on all the contracts of your target, then just bail. Presumably, you are not trying to catch the move to the tick so if you are counter trend and you didn't get filled, there is a good chance that it won't make it to your target again. MM
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Most people are delusional about the amount of money they need to make a decent living from trading. It doesn't take a great deal of capital to turn a profit, but it takes a great deal of capital to make a living solely from trading profits.
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Have some dignity and pay to advertise. I am glad to see that your accuracy went back up to 80%.
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There is nothing negative in saying that if you do not have enough capital, you will not be able to trade for a living once you know how to trade. It may sound or seem negative if you have not given it thought. Money is not going to pour out of the market into your account once you know how to trade. It is not anything like that.
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Half way where? Once you are there, you still need enough capital to be able to trade. If you don't have the capital yet, then you'll have to wait a lot longer than you think which means that you are really nowhere.
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What Really Works for Technical Traders
MightyMouse replied to phantom's topic in Technical Analysis
You will be better served by getting clues from price to determine when the bollinger bands will be turning rather than looking for consolidation patterns in price with a breakout bias, but who cares which way the BB's go. If you test the data you will see that a consolidation pattern that touches a BB is just as likely break out and continue out of the band and change the direction of the band as it is to brush against the band and return to the lower band. Price is leading. Why not just trade price in this instance? It makes for a great picture in color or black and white but the particular method provides the same information that flipping a fair coin would.- 324 replies
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- candlesticks
- chart patterns
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What Really Works for Technical Traders
MightyMouse replied to phantom's topic in Technical Analysis
Au contraire you are not welcome here if you want to scam.- 324 replies
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- candlesticks
- chart patterns
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Is Ben Bernanke an Idiot, Dumb, & Ignorant?
MightyMouse replied to MadMarketScientist's topic in Market News & Analysis
If you would like to amuse yourself further with Bernanke type humor, do a search on " the Great Moderation" And, anyone who thinks they can control a market so that a bubble does not form does not know much about markets and should not meddle with them.