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.

Recommended Posts

Price does NOT move sideways. For price to MOVE, it has to CHANGE. QED.

 

he's clearly talking about price and its relation to the passage of time. no one likes a smart ass, especially near Christmas. with a trader iq of 99% i thought you would have known that. ;)

Share this post


Link to post
Share on other sites
Price does NOT move sideways. For price to MOVE, it has to CHANGE. QED.

 

FAIL.

 

You think maybe I avoided using the word "price" in my entire post for a reason? I wrote that MARKETS move sideways. I also wrote that the sideways was not in a straight line.

 

I gave you the easy to understand explanation that you were crying for, but you screwed it up. You cannot read because your mind is broken.

 

You are in an unenviable place. Take out the ironing board and iron and freshen up the rumpled clothes. Then step out of the box from which you peddle your indicators to consider what moving sideways not in a straight line could possibly mean. Then pop open an intraday chart of the stock indicies for today after lunch and see what sideways looks like.

Share this post


Link to post
Share on other sites

Douglas also had a great approach to work on building trading skills.

 

He outlined a 20 trade excercise using your trading plan.

 

1. Trade 20 trades

2. Follow your plan to a tee

3. Document the results (journal)

4. Do not set a specific amount of time to finish the exercise. It may take a couple of months.

5. Start another block of 20 trades when you are done.

6. When you can get through 20 trades and sticking to your plan you will have made some progress.

 

I am personally on trade #18 and I have learned a good deal about myself. I have traded on and off for many years but sticking to a plan and this exercise gave me many insights into myself.

Share this post


Link to post
Share on other sites
This is a very interesting idea. You may be a little out there, but my personal BS-o-meter is reading low when I read your post :) Just curious, you kill game and cook it on a fire you make? Like the good ol' days?

 

Yes, and the fire I use is made by the ancient method of the bow drill, so I am not dependent on matches, which can get wet or lost, etc. The feeling of Freedom that such skills brings is very empowering, as is the ability to flexibly flow with the continual uncertainty of the wilderness environment. It is actually much like trading, you can't control what is going to show up around the next corner, but you can use your acquired skills and mental toughness/self discipline to take advantage of the opportunities. BTW, there are often so many edible plants around that you don't always have to expend energy in hunting.

Share this post


Link to post
Share on other sites
Yes, and the fire I use is made by the ancient method of the bow drill, so I am not dependent on matches, which can get wet or lost, etc. The feeling of Freedom that such skills brings is very empowering, as is the ability to flexibly flow with the continual uncertainty of the wilderness environment. It is actually much like trading, you can't control what is going to show up around the next corner, but you can use your acquired skills and mental toughness/self discipline to take advantage of the opportunities. BTW, there are often so many edible plants around that you don't always have to expend energy in hunting.

 

bear grylls the trader....you should make a set of videos.

Share this post


Link to post
Share on other sites
Yes, and the fire I use is made by the ancient method of the bow drill, so I am not dependent on matches, which can get wet or lost, etc. The feeling of Freedom that such skills brings is very empowering, as is the ability to flexibly flow with the continual uncertainty of the wilderness environment. It is actually much like trading, you can't control what is going to show up around the next corner, but you can use your acquired skills and mental toughness/self discipline to take advantage of the opportunities. BTW, there are often so many edible plants around that you don't always have to expend energy in hunting.

 

Very interesting........

Share this post


Link to post
Share on other sites

When I started to learn how to trade each time I couldn't understand how the trade went against me caused a sense of guilt. It became so bad that I froze completely and couldn't trade even on demo. I've tried to apply some trading psychology from various sources, all to no effect. TITZ was the book that freed me from feeling guilt. I think the test in the beginning and the end of book is very helpful in some aspects. For me the point was made: markets can and will go against me form time to time. The solution is to find what then. Intensive back-testing did just that.

I still would recommend it to traders who encounter difficult psychological situations. Obviously, better books exist, but after TITZ I didn't need anything more in terms of trading psychology.

Share this post


Link to post
Share on other sites
When I started to learn how to trade each time I couldn't understand how the trade went against me caused a sense of guilt. It became so bad that I froze completely and couldn't trade even on demo. I've tried to apply some trading psychology from various sources, all to no effect. TITZ was the book that freed me from feeling guilt. I think the test in the beginning and the end of book is very helpful in some aspects. For me the point was made: markets can and will go against me form time to time. The solution is to find what then. Intensive back-testing did just that.

I still would recommend it to traders who encounter difficult psychological situations. Obviously, better books exist, but after TITZ I didn't need anything more in terms of trading psychology.

 

On the other hand I must add: at times it was terribly boring:roll eyes:.

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.


  • Similar Content

    • By jason.lee
      Does it mean that you are an expert just because you make a lot of profit? The amount of profit cannot be used to measure the value of a trader. Yes, you must be doing something right if you are making a frequent profit. However, that does not determine if you are an expert or not just by your profit. This is quite a common misunderstanding in the forex industry.
      Making a large profit is only one side of the forex market. Majority of forex traders tend to lose most of the time after they have experienced profit. But why?
      So many traders fall into a fantasy land where they make an endless amount of money at the beginning. Many beginner traders tend to gain profit at the start not knowing the importance of technical analysis of the market.
      The experts on the other hand who stayed became wealthy and stayed that way, continue gaining profit, are all knowledgeable when it comes to the basics. Experts have dialed many ways to control their minds to be set right to be a trader.
      Understanding of the market is a must know anyway. Expert traders wait patiently until the right opportunity comes. Opportunity comes to everyone.
      What differentiates the experts and the beginners is that experts know when the opportunity has come and knows to take advantage of it. Making profit by luck is possible, and yes luck is also very important. But can you profit with luck every time?
      How an expert trader is determined is not by how much the person gained, it’s about the precision and the frequency of results. Profit can’t be maintained by luck. It is maintained and is a result of precision and strategical execution. You shouldn’t worry because you’re not gaining any profit right now.
      You should be building your skill sets to be a better trader by experiencing many trading situations of losses and wins. If you invest in your time to improve, your results are guaranteed to increase more frequently and will become more stable.
  • Topics

  • Posts

    • Date: 22nd November 2024.   BTC flirts with $100K, Stocks higher, Eurozone PMI signals recession risk.   Asia & European Sessions:   Geopolitical risks are back in the spotlight on fears of escalation in the Ukraine-Russia after Russia reportedly used a new ICBM to retaliate against Ukraine’s use of US and UK made missiles to attack inside Russia. The markets continue to assess the election results as President-elect Trump fills in his cabinet choices, with the key Treasury Secretary spot still open. The Fed’s rate path continues to be debated with a -25 bp December cut seen as 50-50. Earnings season is coming to an end after mixed reports, though AI remains a major driver. Profit taking and rebalancing into year-end are adding to gyrations too. Wall Street rallied, led by the Dow’s 1.06% broadbased pop. The S&P500 advanced 0.53% and the NASDAQ inched up 0.03%. Asian stocks rose after  Nvidia’s rally. Nikkei added 1% to 38,415.32 after the Tokyo inflation data slowed to 2.3% in October from 2.5% in the prior month, reaching its lowest level since January. The rally was also supported by chip-related stocks tracked Nvidia. Overnight-indexed swaps indicate that it’s certain the Reserve Bank of New Zealand will cut its policy rate by 50 basis points on Nov. 27, with a 22% chance of a 75 basis points reduction. European stocks futures climbed even though German Q3 GDP growth revised down to 0.1% q/q from the 0.2% q/q reported initially. Cryptocurrency market has gained approximately $1 trillion since Trump’s victory in the Nov. 5 election. Recent announcement for the SEC boosted cryptos. Chair Gary Gensler will step down on January 20, the day Trump is set to be inaugurated. Gensler has pushed for more protections for crypto investors. MicroStrategy Inc.’s plans to accelerate purchases of the token, and the debut of options on US Bitcoin ETFs also support this rally. Trump’s transition team has begun discussions on the possibility of creating a new White House position focused on digital asset policy.     Financial Markets Performance: The US Dollar recovered overnight and closed at 107.00. Bitcoin currently at 99,300,  flirting with a run toward the 100,000 level. The EURUSD drifts below 1.05, the GBPUSD dips to June’s bottom at 1.2570, while USDJPY rebounded to 154.94. The AUDNZD spiked to 2-year highs amid speculation the RBNZ will cut the official cash rate by more than 50 bps next week. Oil surged 2.12% to $70.46. Gold spiked to 2,697 after escalation alerts between Russia and Ukraine. Heightened geopolitical tensions drove investors toward safe-haven assets. Gold has surged by 30% this year. Haven demand balanced out the pressure from a strong USD following mixed US labor data. Silver rose 0.9% to 31.38, while palladium increased by 0.9% to 1,040.85 per ounce. Platinum remained unchanged. 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.
    • A few trending stocks at support BAM MNKD RBBN at https://stockconsultant.com/?MNKD
    • BMBL Bumble stock watch, pull back to 7.94 support area with high trade quality at https://stockconsultant.com/?BMBL
    • LUMN Lumen Technologies stock watch, pull back to 7.43 support area with bullish indicators at https://stockconsultant.com/?LUMN
×
×
  • Create New...

Important Information

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