Ingot54

Apple Loses Patent Lawsuit Against Samsung in Japan - Bloomberg

I'm happy :cool:

Really, Tams ... you could have shown a little more respect. Clearly your picture shows Her Majesty the Queen looking a little strained. Couldn't you have found a more flattering pic of her? Something a little younger perhaps?

... and why exactly are they interested in Mars?

Hurry up Bob ... are you waiting for the streaming data? :) Seriously - I am very keen to see these.

Agree. It is not necessary. But let's go with this ... those who do not need drawdown do not need to use it.

I'm a Queenslander! We like it up here. Beautiful one day ... perfect the next! Hervey Bay is the whale watching capital of the world ... Platypus Bay ... not far from here ... is where hundreds of humpbacks stop off to play on their annual breeding/calving run north the the Whitsunday Islands, before heading south for the summer. Right now the boats go out every day with tourists ... and scores of whales are seen every day. Whale watching runs July/November annually. Hervey Bay Whale Watching Ok ... sorry about the off-topic ... as you were, men! The tourism board should have me as an ambassador - a few free shots there for our locality. Acknowledgement for the image from Owen Wilson Photography: Whale watching Platypus Bay | Owen Wilson Photography

It's me alright, Bob. But take a closer look - that's Sheila's cousin. We met at Sheila's birthday party, and ... well ... I'm stumped over who could have snapped us together. I thought were were clear once we got through the alley! Will have to be more discreet ... and sshhh! not a word to Sheila!

That was a long reply, Baker - I hope not too much info there for the thread. But of course you do NOT need 6 charts, and according to the screen real-estate available (I have 2 x 23" monitors) you could remove 2 of those charts. Just don't complicate things that are meant to be simple. Trading is not a pursuit for the intellectual - I am proof of that.

When trading swing/position TF you need to be aware of the "big picture." The big picture is whatever the monthly TF is doing, and at the very least, what the weekly is doing. I don't want to turn this into a thread about what one trader is doing, but in order to work out where price is going in the lower TF, it is a good idea to look at the trend in the higher TF. I have 6 charts on my MT4 profile. I look at the higher TF first. These are the slow-moving elephants, and when they gather a bit of momentum, they are difficult to reverse. They are not like a speeding train - trains mostly run on a straight course. Elephants (I believe) can pick up a bit of pace, then slow ... turn ... pick up pace ... slow ... turn ... and so on. The "slowing-and-turning" can be seen on the next lower TF, but mostly the elephant decides it was right in its original course, and resumes its trotting along. Look at a Monthly and then a weekly chart of the same instrument. Best if you can get them side-by-side, or at least toggle them back and forth. Pretty soon you get the picture, that while the weekly can deliver reversals, eventually the monthly asserts its influence, and there is a very large move, as the instrument moves back into alignment with the monthly direction. If only it was a simple as that. There are problems of course, with this approach. If you look long enough at charts, you would realise that even monthly charts have major turning points ... and these points have to begin somewhere. They begin with ONE TICK on the lower TF, and morph into a new trend (eventually). So our job as traders is two-fold ... trade with established trends ... and remain alert for changes to that trend. Using many indicators keeps traders enslaved to the cacophony of the noisy, lower TF. I would say from my own point of view, that since I ditched about 5 of my most treasured and "useful" indicators, and moved even higher up the scale to weekly/monthly, my trading has been more satisfying. I get fewer trades ... but larger moves ... and fewer failed trades. Over the past 2 weeks, I haven't traded at all - I just have not seen the setups. But in the last week of July/first week of August, there were some lovely trends, as the EURO (in its death throes) drove useful trends for enduring periods. Even the higher TF are subject to "noise" (chaos) ... but less frequently. Using a single indicator can deliver far more clarity to what price is doing over several TF, and I found that what I lacked above all else, was not an indicator to show me where to enter, but clarity in what I was seeing. I think there is more clarity in this approach. Swing Trading is worth more than a casual look. It is not hard, though there is more to it than I have shown in this quick "Cook's Tour." Good luck with your quest.

I could tell you ... but then I'd have to kill you! :rofl: Seriously, Steve, if I told you, would you be the wiser? Would you use it to your advantage, or just sample it for 10 minutes and discard it as a fail! It is a part of a complete strategy, and it has different settings for different Time Frames. I am a swing trader, aspiring to position-trading, so the indicator is suited to the longer TF. You can day-trade or even scalp with it. But here is the hint - the success does not lie with the indicator ... rather, success is found using the multi-time-frame approach. The indicator is there just to confirm the TF are lining up ... and to show when thee is a pull-back. You could use RSI - CCI - Stochastic - PSAR - MACD - or even a simple set of EMA's ... or the TDI. It doesn't matter. What matters is that you get things lined up for trend, and then identify a small pull-back, which is resuming its run with the other higher TF. It's not difficult, and the higher the TF, the more forgiving it is of an error. Further, the higher TF's rule, until there is a change in the trend, which will be identified in the smaller TF first. It is not complicated ... but it is successful. Do I need to expand on that? Hope it helps.

This one deserves its place in "Joke of the Day." Honestly ... you can NOT make this stuff up! Industry ponders ‘oath’ with an exit clause Trust a banker? Trust a banker who says: "I give you my solemn oath." ?

Cheers, 40draws. My situation isn't that I am a head-banger ... and you didn't say I was - just that the forum has a good number of them. Quite an insight for a novice trader. I am beginning to form a view here, that perhaps you have been involved in trading before, despite your assertion that your response is relatively a new thing. You certainly have a pretty good grip on how to handle yourself in terms of trading terminology, and somehow, quite early in the piece you have sifted through all of the thousands of market strategies and come up with the Wyckoff approach. That in itself is an amazing insight, normally the discovery of a more experienced and mature trader, than that of a complete novice. Some of the attitudes you espouse are normally reserved for those who have done their time in the markets. I wouldn't be at all surprised if you turn out to become a very highly successful Wyckoff trader. If you haven't been involved in attempting to trade before, then it seems you may have a natural head-start on the head bangers. Your forum etiquette, for a start, is well-oiled, and you handle yourself well, as well as managing your detractors skilfully. My own situation is that I wanted something that would enable me to make the transition from a working life, to something that would provide a cash flow in my coming non-working life. I never had a wealth/trading for a living goal, and I am not interested in time-based goals. To that end I remain a student ... and have not set a time deadline for myself. The deadline I have set is when I feel I have exhausted all of my opportunities to learn, and that hasn't happened yet. On the contrary, as I am trading better than break even now, I look forward to raising my position size, reducing risk, and improving my reward:risk. I expect this process to endure, and my bottom line to mature. It is good for you to be putting all of this in print - it will be sobering indeed for you ... or the readers ... or both ... in days to come. I have a feeling you will be posting your success, rather than your farewell. I'd be surprised if you are not already successful, and the next 140 days will be nothing short of a delight. Thanks for bringing us along with you.

I worry when I read something like the above. Two things: Years ago, when I was 18 yrs old, I bought a lottery ticket for $2. The draw yielded me a $20 prize ... $18 profit. This was in the late 1960's. My income was $36/week at that time, and so ... that early success in my gambling career started me on the path to near ruin, as I attempted many times, and in many forms, to emulate that feat over and over. You can read between the lines on that. Secondly, you can not chase two rabbits - one of them is going to evade your efforts to trap them. Either your business is going to suffer, or your trading is going to suffer, and if you have one, your family is going to suffer from having an absentee partner/dad. Who is paying for your time, while you are out of the office, and attending to trading matters? Yourself? Good. Your boss? Hmmm. If it's your boss, wouldn't you serve him/your conscience better by looking at your trading education in your own time? Just a thought. I invite you to tell me to mind my own business, because this really is none of my concerns at all. My message is to encourage you to persevere, and I congratulate you for having the insight to establish some sort of structure in your approach. I would add a rider, that your time-frame for establishing success is very tight, putting more pressure on you than you may realise. As the 6-month deadline approaches, you might need to extend that, if you are making measurable headway. Further, you need to understand that you are embarking on a journey that potentially can destroy your family life, and estrange you from many of the things you currently enjoy - including your health. I am certain you have taken these issues into account, and my words are already redundant in your case. But trading is every bit a full-time pursuit, in my experience, and if you want to have any quality of life outside of this occupation, it is likely that you will eventually move to the higher time-frames, if you are not already working at that level. Certainly I am no trader's shining light, but these are my observations. Good luck with your journey, and thanks for sharing your vision and story.

A duck waddles into a bar and hops on a stool. The bartender snarls, "What'll you have?" The duck says, "Got any grapes?" The bartender spits and says "We don't have grapes here, we serve drinks, now get out!" The duck hops off the stool and waddles out. The next day, the same duck waddles into the same bar, hops on a stool, looks the bartender in the eye and asks, "Got any grapes?" The bartender, irritated, says, "I told you yesterday we don't serve grapes here, we serve drinks, now GET OUT!" The duck hops off the stool and waddles out. The next day, the same duck waddles into the same bar and hops on a stool, looks at the bartender, and asks, "Got any grapes?" The bartender, infuriated, pounds his fist on the bar and yells at the duck, "I told you two times we don't serve grapes here, we serve drinks! If you ask me that ONE MORE TIME I'm going to nail your beak to the bar! NOW GET OUT!" With that, the duck shrugged, hopped off the stool and waddled out. The next day, the same duck waddled into the same bar, hopped on a stool, looked the bartender in the eye and asked, "Got any nails?" The bartender, puzzled, said no. The duck then looked him square in the eye and said, "Got any grapes?"

I was going to comment on #12 ... until I read #13!

True, 4EverMaAT ... we are not as well known, but as a quality niche forum we do have some Forex threads with quite good followings and discussions going on. TL has 77,400+ members, many of whom "lurk" and if the number of views for some threads (200+ posts with between 5,000 and 21,000 views) is any indication, there is enough of a following on TL to scrape up 50 people (at a guess) who could be either following or participating. That's why I bother - I just think active participation in a very small contest, is a great way to encourage a "personal best" for new and experienced traders alike. I am the last person you'd want to follow or learn from, but I hang in there, and by encouraging others, I am encouraging myself. I think the size of TL is quite sufficient to provide the numbers, and I am not really interested in perfection per se. Rather, a contest can assist to promote focus and commitment within a trader, which can then be applied to advantage in improving live trading. Those 24 days have now shrunk to 10 days remaining before the start of September trading. And the list of 13 nominated participants has (if I haven't missed anyone) produced 5 entries, as at 15th August. I am expecting a couple more entries yet. Maybe some of those who were deterred by the 5% rule for draw down, might now join, since that stumbling block has been removed. Regardless of the final acceptances, it only takes two to have a contest, and it is gratifying to see at least 5 people having a go. btw - the contest is open for any instrument traded on Oanda, so it is not limited to Forex alone. I like your idea of having it promoted on the home page ... it has already featured there once.

We are getting there slowly, but I have to say this is an exasperating business! We have 10 trading days to go, give or take a day. Time is beginning to run short to get entries in. I am thinking we must have fouled up somewhere ... maybe forex traders need the incentive of a prize in order to participate?

All the world loves a winner! But winners can sour that love ... by thinking they have a right to be aloof ... and have earned the right to be arrogant. Traders who haven't yet crossed the line in the race would rather respect the winner who turns around after he crosses the line, and encourages them to continue on that little bit more. Unfortunately (the Internet forum being a poor method communication) the way people come across can sometimes be misconstrued, and rankle a bit. My view, in providing a response to the question posed by the OP, is that "new" traders who are (or who become) successful, would certainly NOT be hated. I don't know ANY new traders who became hated after reaching what might be called success. But there have been, at times, a few traders on this forum, and another which shall remain unnamed, who could more correctly be described as "old" traders, who claim to be successful. These too are not hated. But occasionally one of them will break ranks and pour contempt on those who are still struggling after 6 months ... and one day! I guess there is a bit of a bucketing reserved for these types, and they shouldn't be surprised when they cop a bit of effluent for their condescension.

Thanks Mystic ... Hmmm ... I'm in since last week ... should come up in a day or so. The delay in appearing on the list doesn't bother me - but it does highlight the need for prompt action: 1) Set up a DEMO a/c with Oanda, and begin practicing with it. 2) Get that Demo a/c number registered at the contest link that has been set up by Mystic Forex. The reason: to avoid people missing out because of the processing delays at Oanda's end. Setting up the demo a/c takes just minutes, and you will be allocated an a/c number. The next step is to get onto the contest link, and register your account number ... and you're done. Anyone having difficulties? 21 days left now before the starting pistol fires!

Accurate summary, DbPhoenix, and reflects my thoughts at the time of the OP. I have moved on from whining about what others do in the "trading support industry" eg book writers and psychologists, vendors and marketeers. It's a waste of my time, and once said, it's best to just leave it alone. Live and let live. You can not make the journey for others - you can only make your own, and occasionally walk alongside others. Rarely do you make that journey together. But to wax philosophical for a moment longer ... what can and does help other traders, is to share those parts of one's journey that have led along an easier path. But like the horse and the water, it won't happen until the trader is really thirsty. Your mama doesn't trade ... EDIT: Yes - the Trading Plan is one key - I had one for years - even posted one - but there is more to it than faithfully following one. The TP needs to be intelligently formulated, personalised, and adhered to. I gave myself a fail there ...

Today being 11th August 2012 makes it exactly 18 months since the thread was commenced. Everything that came up in this thread - the ideas ... the sides of the fence one chooses to sit ... and the ultimate test of sound writing and teaching ... the action one may have chosen to take after reading ... it all bears reading again. I enjoyed writing the OP, and I have enjoyed going back over some of it, to see if what I wrote still holds true for me. It does - resoundingly more so than at the time of writing. Why? Because I have been able to apply the principles I discussed in the first page of the thread to a greater degree than before, and those things have rescued my trading. I few months ago - November 2011 to be precise - I decided I was not progressing as a trader, and that breaking even was not a very smart position to be holding for months on end. I quit. Well, I did quit. I removed everything from my computer to do with trading - charts, trading platform, .pdf's, links and indicators. Essentially I was finished with trading, having decided that my approach was not successful, and that I deserved to be seeing more reward for the effort I had put in, for the preceding 7 years. The sabbatical lasted 3 months. Fortunately (in hindsight) I did keep in touch with a great friend of mine who is a member here, but who has probably fewer than 8 posts to his name. I followed his progress while staying aloof and basically disinterested for myself. We chatted via Messenger less frequently than in the past, where those contacts had been daily. Keeping in touch was the act of a friend ... not the camaraderie associated with a fellow trader - not then. But my interest was for his trading rather than for anything I might eventually achieve myself - I remained "out of the markets" both mentally, and physically. I can not even recall what it was that triggered my return - it was a gradual thing - but I do know that once I decided to take another look at it, my mental position was radically changed. I can only put it down to the core beliefs that remained after the three months break, and the fact that I had swept all previous beliefs out of my trading life. I invite you to re-read the thread from the beginning, if interested, and comment about your own experience ... if things have changed for you. I do not think anything can be gained through rehashing the secondary issues that arose. But have the principles mentioned in the first few posts made any difference to how you see the markets? Has anything changed in 18 months in your own trading life, that you could say is due to a radical change in the way you approach your trading today? Here is the link to the first page: http://www.traderslaboratory.com/forums/trading-psychology/9278-your-mama-doesnt-trade-so-wise.html Kind regards Ingot

Incompetent broking b@$t@r*$

1). While watching the cardiac monitor at work in the Intensive Care Unit, you begin to wonder what time frame it is, and how the hell it can trend sideways for so long.

Anyone needing help registering a demo account, or registering for the contest - may pm me, or ask here. The steps can be posted here if needed. Can be a bit daunting the first time through it. Cheers Ingot