A Bad Trader

[darkhorse70]

But you are just playing with my words. Haha

 

[darkhorse70]

So are you endorsing laziness and cutting corners? You see three charts. One of the three posses patterns, volume or whatever you use to analyze your stock which gives you the most likely hood of an outcome. You would obviously go with that option. My point was dont just jump on any signal just because it posses some characteristics of a good stock. Im just saying this because ive foubd my self many times being tempted by stocks which were part good but they had some ifs and maybes. Ive also found some stocks which were so perfect to me that the move was so predictable and when it moved you werent shocked at all.

 

[darkhorse70]

Tech your cooking my brain. Every advice can be contradicted. Every advice is a shade of grey. Every rule has an exception. This is not science but an art. You can even point out flaws in the most elite of traders. I dont know what to say hahahaha

 

[darkhorse70]

Im gna take that back. Are you endorsing lack of discipline/patience.
/impulsive behaviour? All I was saying is dont be impulsive. Wait for the roght oppurtunities. We understand probability and all that plays a factor. Cut your losses short, let your winners run yada yada yada haha. Every trading style is different.

 

[darkhorse70]

Why dont you take on 20 random trades. You are still being very selective with your stocks. If you skew the odds in your favour and your R/R etc theb yeah you can have a few winners which wipe all your losses but I highly doubt you could come out infront if you just took on every trade.

 

[tech/a]

So are you endorsing laziness and cutting corners?

Define cutting a corner---when I trade I only see a pattern supported with other technical evidence within the landscape of a chart---I completely ignore Fundamentals---if this is cutting corners to you then ---a resounding YES!

You see three charts. One of the three posses patterns, volume or whatever you use to analyze your stock which gives you the most likely hood of an outcome.

Youll note that I have said thet there are BETTER setups rarely PERFECT setups (Which you are suggesting you should find). If I find something on a chart i wish to trade which indicates that I can anticipate a profitable trade in the direction I wish to trade---then yes---Ill take it. Have I been exhaustively thorough?? Is it a perfect setup??
---no of course not ---but it is a setup which I can anticipate a positive profitable trade.

You would obviously go with that option. My point was dont just jump on any signal just because it posses some characteristics of a good stock. Im just saying this because ive foubd my self many times being tempted by stocks which were part good but they had some ifs and maybes. Ive also found some stocks which were so perfect to me that the move was so predictable and when it moved you werent shocked at all

.

In most cases yes I would. It would generally be dependent on time frame.
When trading Futures Indexes I do it all the time. Many ifs and maybe's

Tech your cooking my brain. Every advice can be contradicted. Every advice is a shade of grey. Every rule has an exception. This is not science but an art. You can even point out flaws in the most elite of traders. I dont know what to say hahahaha

Its BOTH.

To those who don't understand how they trade everything is a shade of grey.
When you know exactly how YOU trade then everything is BLACK and WHITE!
Until it is you've not finished your journey!

Im gna take that back. Are you endorsing lack of discipline/patience.
/impulsive behaviour? All I was saying is dont be impulsive. Wait for the roght oppurtunities. We understand probability and all that plays a factor. Cut your losses short, let your winners run yada yada yada haha. Every trading style is different.

Some would certainly see some of my trading as impulsive and many would in hind site. I see a trade---I see it proven or dis proven.

Whats a right opportunity---its the one that's NOT A LOSER---and you can only be 100% sure of that in hind site!

Sure every trading style seems different but I guarantee you the great ones will be looking for the Yada yada yada.

Why dont you take on 20 random trades. You are still being very selective with your stocks. If you skew the odds in your favour and your R/R etc theb yeah you can have a few winners which wipe all your losses but I highly doubt you could come out infront if you just took on every trade.

Every profitable trader will tell you that once you have a winning method its Size and frequency which will increase profit. I have never suggested RANDOM TRADES.
I have said and continue to say that there is NEVER a perfect setup.
Only better ones than others.
The perfect setup can only be adjudicated AFTER the fact not before or as its presented.

Finally here is a method which Trembling hand has shown here.
This is a days trading and yes its different.
But it does show many very important things a trader (Budding one) should be aware of.
See what YOU can find!

 

[darkhorse70]

So you grilled me for saying perfect instead of better. See to me the trades which YOU are assuming are better in my mind that would go in the perfect set up. Why? Because youve seen a million charts and you ca diffrentiate between the good and the bad. The ones with higher probability rates etc. Thats my idea of perfect. Finding the setups that you are good at and going big. Obviously there is no such thing as perfect in this industry. Its all about odds.

Nuthing you are saying to me is a revelation. Im agreeing with every thing you are saying. You just put it vetter in words.

As for what can I find on on that photo. Is this a test? I see

 

[darkhorse70]

61% win rate. 48 out of 79 or so. He started off positive had some losing trades. Maybr he started tradong smaller etc but then he started getting positive. Broke above BE. I guess he would have started trading bigger as he got positive. Seeing as he was only positive 240 maybe he didnt get much bigger. I dont know what im meant to see on this chart. Maybe if I stare at it for a while ill get more info out of it but im just about to eat pizza and relax infront of the fire place. Maybe watch a doco on stock market frauds or triunphs haha.

 

[CanOz]

Define cutting a corner---when I trade I only see a pattern supported with other technical evidence within the landscape of a chart---I completely ignore Fundamentals---if this is cutting corners to you then ---a resounding YES!



Youll note that I have said thet there are BETTER setups rarely PERFECT setups (Which you are suggesting you should find). If I find something on a chart i wish to trade which indicates that I can anticipate a profitable trade in the direction I wish to trade---then yes---Ill take it. Have I been exhaustively thorough?? Is it a perfect setup??
---no of course not ---but it is a setup which I can anticipate a positive profitable trade.

.

In most cases yes I would. It would generally be dependent on time frame.
When trading Futures Indexes I do it all the time. Many ifs and maybe's



Its BOTH.

To those who don't understand how they trade everything is a shade of grey.
When you know exactly how YOU trade then everything is BLACK and WHITE!
Until it is you've not finished your journey!



Some would certainly see some of my trading as impulsive and many would in hind site. I see a trade---I see it proven or dis proven.

Whats a right opportunity---its the one that's NOT A LOSER---and you can only be 100% sure of that in hind site!

Sure every trading style seems different but I guarantee you the great ones will be looking for the Yada yada yada.



Every profitable trader will tell you that once you have a winning method its Size and frequency which will increase profit. I have never suggested RANDOM TRADES.
I have said and continue to say that there is NEVER a perfect setup.
Only better ones than others.
The perfect setup can only be adjudicated AFTER the fact not before or as its presented.

Finally here is a method which Trembling hand has shown here.
This is a days trading and yes its different.
But it does show many very important things a trader (Budding one) should be aware of.
See what YOU can find!

View attachment 58956

Great post Tech!

 

[Sir Osisofliver]

hi all - I just registered today to the forum. As my name indicates, I am a bad trader. The only success I have found is in buy and selling retail products. I love it, actually. But back in 2012, I tried my hand in shares and CFD's.

When I began, I had delusions of grandeur - setting up stops so short you would have to kneel down to pat its head, and limits so long that the best bionic eye could not catch a glimpse of, and in turn lost money. The money I lost, was insignificant - however, that did not stop me. Learning a lesson, I came back with a vengeance, with some new information, and then lost again.

Repeated this cycle about 10 times, before I gave up and went back to the only investing I know - buying retail products, and retailing them. Currently I am in the process of building a retail store online because my initial industry is on a downturn and I need something to fall into. But I still could not get the fact that I had failed so utterly miserable on trading indexes.

So, I've opened up another play money account with IG, and am trying to learn the ropes.

So many of you here are just fantastic and carry so much knowledge up there in your noodles - where can I go to learn these skills. I have come to the realization long ago that this game is not something to earn big bucks really fast and is not a "get rich quick" scheme that so many others perceive it to be.

Thank you for your time

Hi Abadtrader, Sir O here, have a look at the thread in my signature, you might find some useful stuff....

Ok So in my reading of what you, (and others) have written I'm seeing something that I think needs to be brought to your attention, so here it is....

It took me many years to figure out that the way that other traders trade was not massively relevant to me. Sure looking at the methodology of certain traders is useful, it can stimulate ideas and creativity, but here's the kicker... those traders built that system/strategy/philosophy for themselves.

You speak to any successful trader and this sits at the core of what they do. They don't follow other people, they forge their own path, with something that is designed for them..... But before they can build something for them, they have to understand themselves and the resources that they have.

So how much do you know about you? Are you the sort of person who enjoys action and excitement? Does the idea of doing 78 trades in a single trading session a) excite or b) frighten you? Does the idea of holding a position for 12+ months sound a) prudent or b) as boring as watching paint dry?

The above are just some examples of the kinds of things that as trading concerns, impact one thing...our emotional state. As emotional beings we have emotional bias based upon our experience, maturity and other factors. For about 40% of us, we only learn by doing, I hear the statement "Unless there is real money on the table its meaningless." (because of the now emotional engagement being made). This is not true for everyone, some of us indeed do learn by testing. For some traders they attempt to remove all emotion with rules and systems, but this is still an emotional decision. (I have learned because of negative experiences that colour my trading experience, not to trust my emotions, therefore I will eliminate them from my trading system). To some people, trading without discretionary influence sounds like pure insanity.

To some using purely technical information for their decision process is da bomb, for others all those squiggles on a chart are just Greek to them and fundamental information is where the real game is.

One of the things I tell new people to the industry and trading is that in my experience the best starting point is you, and understanding yourself. If you can do this right, it will significantly cut down the amount of time it takes to become proficient and give you a greater chance of success. This is why only 20% of what we see around us in terms of trading information is relevant..to us. I would therefore highly encourage you to do some deep navel gazing and have a think about how this might impact your trading style going forward......

To me this is what Tech was saying about shades of grey vs black and white. If I know myself and I see a new idea/system/strategy/indicator/piece of advice/whatever, if I lack knowledge about myself, that "whatever" is lost in a sea of grey. I don't know if it applies to me or not. If I know myself, I can say... relevant/not relevant, black/white pretty easily.

So my suggestion to you is.... "nosce te ipsum, tu ipse es" - "Know thyself, be thyself"

Good luck on your Journey.

Cheers

Sir O