Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

lrushing

I Still Don't Get It

Recommended Posts

Every once in a while, I’ll be in conversations with people who are talking about something then ask me if I understand what they just said. Sometimes I say yes, sometimes no, and sometimes yes when I actually don’t. If it’s the latter and then they continue, I get totally lost and have to admit that I have to back up and fess up that I didn’t get it. Not only am I a bit embarrassed, but I’m sure the individuals are having second thoughts about my ability to carry on a conversation.

 

There is so much information when it comes to trading, that I don’t think there is any trader out there who knows everything about trading. They may have some expertise in reading gap plays or momentum trading, but have a weakness with setting stop losses. The point is there are no dumb questions when it comes to trading. If you still don’t get it, even after you’ve purchased numerous articles and books on the subject, attended too many seminars to remember, and sat in a gazillion trading rooms, ask again and again until you find someone or something that answers your questions. That’s the only way you are going to ever get it. That’s the only way you are going to move forward.

Share this post


Link to post
Share on other sites

When I first (re) started trading a couple of years ago ... I was surpsied at ALL the information compared to my last trading ventures in the mid and late 80's.

 

For me - success only became possible by specializing and learning one market very well... I gave up Forex, Swing Trading and concentrated on developing a winning strategy for the YM/ES.

 

My suggestion for any newbie: conentrate all your resources and learing efforts on one trade market and only 1 ro 2 setups. Once you can trade them consistently - you can add more variety.

Share this post


Link to post
Share on other sites

yes, its amazing sometimes I feel like a little child that still is learning to sum... there are things that take a life time to really grasp what is behind it... and even simple things... nice comentary Irushing.

 

 

Rob : yes, one setup, get good at it and make your good bucks... cheers Walter.

Share this post


Link to post
Share on other sites

It sometimes helps, helps a lot actually, to pretend you don't know when you think you do. When you think you know something, you're not in the best state to learn anything new about that 'thing'.

 

So assuming you don't know everything about anything is a pretty useful MO in my view. It also builds real humility rather than false humility.

 

You never get to stop starting to learn.

Share this post


Link to post
Share on other sites

There is another alternative and that is that it just might not be true or the point that the person is trying to get across is just too vague or poorly defined to start with. I think some traders process market information subconciously and honestly dont know exactly how they are doing it.

 

Cheers.

Share this post


Link to post
Share on other sites
There is another alternative and that is that it just might not be true or the point that the person is trying to get across is just too vague or poorly defined to start with. I think some traders process market information subconciously and honestly dont know exactly how they are doing it.

 

Cheers.

 

Correct Blow, thats why you need to learn how your mind process work and try to idntify what you are doing... so you can understand and normalize your mechanism... from my stand point of view it is a great procedure to success...

Share this post


Link to post
Share on other sites
Guest BigWallStreet

Agreed, you gotta keep it simple...but that's the complicated part :)

 

Let's face it, all these systems posted on these messageboards are JUNK.

 

You gotta EARN your success in the marketplace, and that could take you YEARS.

 

Or, you can steal ideas from a Wall Street millionaire and make your own money,

 

I chose the latter haha,

 

Took me about 7 years to learn, lots of hard knocks but you can do it,

 

Email me if you want some help, I actually have a heart for newbies and can give you some tips,

 

 

Later >

 

BigWallStreet

Share this post


Link to post
Share on other sites
Agreed, you gotta keep it simple...but that's the complicated part :)

 

Let's face it, all these systems posted on these messageboards are JUNK.

 

You gotta EARN your success in the marketplace, and that could take you YEARS.

 

Or, you can steal ideas from a Wall Street millionaire and make your own money,

 

I chose the latter haha,

 

Took me about 7 years to learn, lots of hard knocks but you can do it,

 

Email me if you want some help, I actually have a heart for newbies and can give you some tips,

 

NYCHotshot@gmail.com

 

 

Later >

 

BigWallStreet

 

BigWallStreet,

 

Do us a favor and post your "tips" on the board here for the rest of us to ponder. We've all done the same, and you've now called all of our systems "junk" (thanks by the way...great way to introduce yourself on a new message board). I'd really love to know what you've got up your sleeve. Since you say you "stole" yours, should be public knowledge anyhow. So please, do us a favor and share it, or stop posting this kind of nonsense on these boards.

Share this post


Link to post
Share on other sites

Information overload is a reality and you can get lost and confused with it. I found when i started trading it worked against me as i constantly looked to modify what i do based on this article or indicator. Everybody is selling the single method that will make you rich. I know, i bought some of those myself. The light finally went on when i learned to trade the psychology of the tape. I learned to use time and sales to tell me whats really going on. If i see a trend line break in a down market, i'll look at the prints and see all the 1 and 2 lots buying the TLB cause some book told them to. I'll look for for the big lots to come in and fade those and immediatley short myself. what happens is the price pulls back to the trendline, pierces it down, hits all those small lot buyers stops propelling it down more and the downtrend continues. Now that comes with experience and no lagging indicator will show you how to do that. Everything you need to know about whats really going on in the market is on the price chart and reflected in time and sales. Follow the money...... open 2 T&S windows, one showing all prints and one filtered showing >50 lots for the ES. Watch what happens when the 500-1000 lots hit the prints, jump on for the ride, usually good for at least 1 pt on the ES.

 

good luck

Share this post


Link to post
Share on other sites
When I first (re) started trading a couple of years ago ... I was surpsied at ALL the information compared to my last trading ventures in the mid and late 80's.

 

For me - success only became possible by specializing and learning one market very well... I gave up Forex, Swing Trading and concentrated on developing a winning strategy for the YM/ES.

 

My suggestion for any newbie: conentrate all your resources and learing efforts on one trade market and only 1 ro 2 setups. Once you can trade them consistently - you can add more variety.

 

great advice to us newbs bakrob. Thats something ive just recently realized after spending 2 years jumping around to different styles and having easily read 100 books, 99.5% being completely useless. I have no question that the hardest thing starting out is simply filtering out all the noise as far as information goes. Its pretty interesting to me that if i go to my local barnes and noble or borders, i dont believe there is a single title of any of the books reviewed on this website.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • UHS Universal Health Services stock, nice rally off the 197 support area, from Stocks to Watch at https://stockconsultant.com/?UHS
    • SGMO Sangamo Therapeutics stock, good start off 2 support area at https://stockconsultant.com/?SGMO
    • AAPL Apple stock, watch for a top of range breakout at https://stockconsultant.com/?AAPL    
    • Date: 26th November 2024. Trump’s tariff threats boosted Dollar; Peso, Loonie, Gold & Oil Lower. The Trump trade picked up steam as investors cheered his pick for Treasury Secretary, Scott Bessent. Beliefs he will be a steadying voice in the administration’s fiscal measures, while still following President-elect Trump’s tariff and tax commitments, underpinned. Asia & European Sessions:   Trump threatened on Monday to impose sweeping new tariffs on China, Canada and Mexico on his first day as US President to crack down on illegal immigration and drugs. He would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China as one of his first acts as president of the US. Bessent’s 3-3-3 plan aims to cut the deficit to 3% of GDP, boost growth to 3%, and increase oil production to 3 mln barrels. Treasury yields dove in a curve flattener, extending their drops through the session, on expectations inflation will decelerate. A strong 2-year auction also supported. The Dow led the charge, climbing 0.99% to 44,736, a new record peak as the rally broadens. The S&P500 climbed to 6020, a session peak, but finished with a 0.3% gain to 5987. The NASDAQ closed 0.27% higher. Today, stock markets in Europe are posting broad losses, with the DAX down -0.6%, the FTSE 100 0.4%, after a largely weaker close across Asia. ECB: Lane suggests ECB must be open-minded on speed of rate cuts. The ECB’s Chief Economist said in a speech on Monday evening that “remaining open-minded about the speed and scale of adjustments is in fact a valuable strategy across various environments, as different situations may necessitate distinct approaches.” This careful, step-by-step strategy enables us to observe the responses of the economy to our decisions and continuously refine our understanding of their impacts.” The comments leave the door open to a 50 bp move in December, but also tie in with our expectation that the central bank will deliver a 25 bp while tweaking the forward guidance and commit to additional moves. Financial Markets Performance: The USDIndex hit a session high of 107.50 and is currently lower at 106.85. Mexican peso and Canadian dollar slumped as the dollar is being viewed as a haven after the comments of President-elect Donald Trump on tariffs on Canada, Mexico and China. USDCAD spiked to 1.4177 and USDMXN rallied to 20.74. Oil and Gold lost ground, in part on cooling geopolitical risks, and on Trump trades. Oil dropped -3.03% to $69.09 per barrel, in part on the Trump trade and on talk of a potential cease fire between Israel and Hezbollah. Similarly, gold fell -3.26% to $2605 per ounce. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • RYAM Rayonier Advanced Materials stock, nice trend with a pull back to 8.79 support area, bullish indicators at https://stockconsultant.com/?RYAM
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.