sep34

Wow a million in a single day...that makes my daily profit goal really small.:missy: Just pulling your leg. This year was extrem volatility, great for trading, yet exhausting. will get some needed rest durring the holidays. Happy Holidays to all.....

Posted in the wrong area:(

Thats a tough one. depending on how you define success... Personality make up has a lot to do with it. Some traders have a craving to really understand why price did this or did that...those type of traders usually are attracted to Price Action trading and will give up indicators. I would venture to say, confidence has a lot to do with performance and anything that gives you greater confidence will be represnted in your overall performance/P&L and thats why in my opinion it really depends on the indivduals personality. Regards..

A while back I was talking to a Friend that is Real Estate Broker, I told him about the failure rate in trading and he said " well thats very similar to the failure rate that the national real estate agency puts out every year." I agree with your statement very much. I believe that statement to be unrealistcally discouraging and not accurate. but its a good ego rub for those who are consitantly profitable. yes trading successfuly (profitably) is not an easy business, anyone whose ever traded real money knows that in their heart. However, the same is true with any other business. To be succesful in any business/endeavor is not an easy task and trading is not any different. That said, I will admit that trading as a business has some unique challanges that may set it apart from most general businesses. Unless you have the luxury of being taken in by a veteran trader for several years...then you will most likely have a different view point and most retail traders don't have that luxury. Regards..

Yeah.. I heard some good things about that book from several people as it gives a good picture to how the markets work and particularly helpful for the incoming trader aside from talking about VSA basics. Regards.. Do not fear the big boys, Infact I consider them my Friends....With out them I could not earn $1. --Anonymous

Hi all, This is my first post here. All though I have monitored, i.e. checked it out, this forum for some time. So far I have gotten a good vibe from this forum, which enticed me to post here, somthing that cant be said for most other trading related forums. Thanks to all for keeping this place at a higher level humanity and hope it stays like that. Most new traders are intrigued with indicators, almost to the point that they think indicators have magic. The truth is, Indicators are just another way of interpreting price action. The problem is that you still need to know which combination of indicators to use and to know that, you must have a good undersating of the markets. When I first started trading, I was mesmerized by indicators...it took several months to figure out their true nature and when that realization clicked in my head, well...... It was not hard to decide to learn to trade off of price action only. Im very grateful for making that decision, at an early stage of my trading, it was the right choice for me and my personality. I trade by Price action only no indicators not even volume. As far as Price action traders thinking they are superior, yeah I agree they do have a tendancy to walk too tall in the trading community. If you ask me, its not an entirely valid assumption on their part, P/L is all that matters at the end of the day, week, month , year. For me trading is both a Business and an Art. If a trader can be succesfull in both of these areas (business & art aspect) it really does not matter if they are doing it with indicators or trading by price action only. The key is to understand our tools completely. Regards..

Hi Janice, Agree.... Buy the way I just wanted to let you know that I enjoy your post, specially those that deal with the inerworld of the individual and how it relates to Trading. Thanks.