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Beautifully said. Irony, however, is: No matter how many times unexpected happens, we keep on measuring the movenments of a non-linear environment like markets with linear yardsticks.
..............Beautifully said. Irony, however, is: No matter how many times unexpected happens, we keep on measuring the movenments of a non-linear environment like markets with linear yardsticks.
1) Mechanical Systems won't work
2) Indicators cannot be bunched together for a successful trading system.
Because, mechanical systems (which can be coded) and indicators are all "linear yardsticks". They are a function. When the get an 'x' as input, they always return a 'y', without a single variation. What do you think?
Am only trying to understand a point of view. If you chose to not address my curiosity, I would understand.
Rgd.
This world is being run by the "middlemen". The ones who get commissions. They do not care whether we make money or lose money. Their only intention is that we trade. They create environments for us to feel greedy. That is the only way they will get us to buy and circulate the money.
This circulation of money is very important for ALL the middlemen's existence. When money moves, Banks get their cut, GOI gets tax, Brokers get commission ... the list is endless. As opposed to money just sitting somewhere giving its owner interest.
Just like the weapons industry. They don't care who wins, as long as there is turnover in their books.
In short, my belief is this:
Markets move not to slaughter lambs or feed the wolves. It's "Movers" have one single intention: To have maximum turnover. Only way do it is to provoke people to be greedy or fearful. These are two extreme emotions which always beget actions, and actions beget turnover. Mission Accomplished.
It is widely believed that FII or the big pockets tend to get the better end of the deal all the time. But, that is not true. Even they make losses. If you follow their moves by making a simple excel sheet you will see. Rules of trading equally apply to them. Anyone, FII or retail trader, who violates the rules will be punished. But, since they are in the business of trading they know the rules. They emerge as winners. But, not the retailers.
This circulation of money is very important for ALL the middlemen's existence. When money moves, Banks get their cut, GOI gets tax, Brokers get commission ... the list is endless. As opposed to money just sitting somewhere giving its owner interest.
Just like the weapons industry. They don't care who wins, as long as there is turnover in their books.
In short, my belief is this:
Markets move not to slaughter lambs or feed the wolves. It's "Movers" have one single intention: To have maximum turnover. Only way do it is to provoke people to be greedy or fearful. These are two extreme emotions which always beget actions, and actions beget turnover. Mission Accomplished.
It is widely believed that FII or the big pockets tend to get the better end of the deal all the time. But, that is not true. Even they make losses. If you follow their moves by making a simple excel sheet you will see. Rules of trading equally apply to them. Anyone, FII or retail trader, who violates the rules will be punished. But, since they are in the business of trading they know the rules. They emerge as winners. But, not the retailers.
We trade only price. We do not trade information. We do not trade knowledge (of the asset being traded). Nor do we trade computing power or expertise. We do not trade anything at all other than price: ie: the number. Therefore since the only factor that counts in this game is the price, it is only smart to focus all, or almost all, our attention on this number on the pice and its movement; in other words, what the price has done in the past and is doing in the present. Approach the game/business of trading in this manner - an up down number game where the focus is on what the price does and not why - and you will be on the right path to succss as a trader
You are trading against the wealthiest and most knowledgeable people and organizations in the world.Do not delude yourself, you cannot compete on their terms: information, knowledge, experience, staying power, and so on.Do not spend time and energy trying to figure out why a price moves.Focus all your attention and energy solely on what the price is doing.You are a trader. A trader does not get paid to understand or explain why something has happened. The question "why?" deals with the past. The question "what?" deals with the present and provides the best clues to the future. And never forget that you are trading "futures," not "pasts." Discovering the supposed "why" of a price move will provide you with little more than temporary intellectual comfort. Whereas observing and focusing on what the price has done and is doing will help you anticipate what the price will do in the future. Leave the intellectualizing to those paid for their words not their deeds, i.e., journalists and brokerage house analysts
Predictions tend to lock you into a preconceived scenario of the future making it more difficult for you to adapt to unforeseen events.Futures trading is not like betting on a horse race. In futures trading you can change your bet as the race progresses. In trading, as soon as you make a specific prediction about where a market is going, you sacrifice your freedom. A trader must always feel free to change trading positions on very short notice. And most importantly, you do not need to be good at predicting to do well at trading. If making predictions can be quite harmful and you do not need to be good at predicting in order to be successful, why bother with predicting at all
- Chick Goslin
http://www.traderji.com/words-wisdom/9837-wisdom-dump-2.html#post68094
You are trading against the wealthiest and most knowledgeable people and organizations in the world.Do not delude yourself, you cannot compete on their terms: information, knowledge, experience, staying power, and so on.Do not spend time and energy trying to figure out why a price moves.Focus all your attention and energy solely on what the price is doing.You are a trader. A trader does not get paid to understand or explain why something has happened. The question "why?" deals with the past. The question "what?" deals with the present and provides the best clues to the future. And never forget that you are trading "futures," not "pasts." Discovering the supposed "why" of a price move will provide you with little more than temporary intellectual comfort. Whereas observing and focusing on what the price has done and is doing will help you anticipate what the price will do in the future. Leave the intellectualizing to those paid for their words not their deeds, i.e., journalists and brokerage house analysts
Predictions tend to lock you into a preconceived scenario of the future making it more difficult for you to adapt to unforeseen events.Futures trading is not like betting on a horse race. In futures trading you can change your bet as the race progresses. In trading, as soon as you make a specific prediction about where a market is going, you sacrifice your freedom. A trader must always feel free to change trading positions on very short notice. And most importantly, you do not need to be good at predicting to do well at trading. If making predictions can be quite harmful and you do not need to be good at predicting in order to be successful, why bother with predicting at all
- Chick Goslin
http://www.traderji.com/words-wisdom/9837-wisdom-dump-2.html#post68094
d plight wen a bet goes against d wish of a chartist :
All I've loved, I've loved alone
What a sorrow existence
Right down to the bone
I feel so much distance
Such a dreadfully deep line between death and my breath
I wish it wasn't so
Because I cant live with this ending
I need to bend this ending
I will not go down without a fight
I need light !!
All I've loved, I've loved alone
What a sorrow existence
Right down to the bone
I feel so much distance
Such a dreadfully deep line between death and my breath
I wish it wasn't so
Because I cant live with this ending
I need to bend this ending
I will not go down without a fight
I need light !!
Words of wisdom... somehow all these people who have ended up with fortune, have lots of nice things to say which are philosophical but totally impractical.
This is just word play... if you see at the end of it.. everyone is in the business of predicting, albeit with probabilities .. esp the guy (Chick goslin) or else why trade at all if you dont think the market is not going to move in the way you think it should... i think the more better way is to study the human behaviour aspect with market... its hard, but the old adage of a master holds good... be fearful when everyone is greedy .. blah blah blah...
For all you know, Prada will be plotting the next fall and will get the rights to say " i told you so"...
This is just word play... if you see at the end of it.. everyone is in the business of predicting, albeit with probabilities .. esp the guy (Chick goslin) or else why trade at all if you dont think the market is not going to move in the way you think it should... i think the more better way is to study the human behaviour aspect with market... its hard, but the old adage of a master holds good... be fearful when everyone is greedy .. blah blah blah...
For all you know, Prada will be plotting the next fall and will get the rights to say " i told you so"...
To paraphrase one such writer:
Success as a trader is two layered approach. Micro and Macro.
On the Micro level the trader realizes that each trade has a unique outcome. Hence could fail irrespective of any other factor (like trend, probabilities etc)
On the Macro level the trader realizes that although a trade in itself is unique, but a set of trades (10, 20 or 50) has a positive outcome.
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