Trading without indicators

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Viewing 15 posts - 211 through 225 (of 369 total)
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  • 01/29/2023 at 1:13 PM #208646
    shug

    Seriously though have you ever thought about that? being on the other side of the fence and trying to beat 95% of traders? what a task that would be! how would you do it?

    Tip. Media, fake news, emails, T.V, the list goes on and on and on

    I have lost track of the amount of emails and news items I get telling me a crash is imminent, this is from months ago! if I’d be listening and believing that I’d be in a massive loss right now

    01/29/2023 at 1:18 PM #208647
    shug

    If you ever hear the saying ‘I have to see it to believe it’ nothing makes more sense than that, the price is what’s happening in front of you on the screen, everything else is hearsay!

    I put Bloomberg on the T.V 1 time to get a sense of what’s happening in the markets, never heard so much nonsense in my life! Please turn it off and look at the charts instead! you will be doing yourself a favour

    Another 1 to watch out for is those companies showing you how many traders are long or short etc, Please don’t use that to base your decision on, you would be safer doing the opposite

    01/29/2023 at 1:30 PM #208649
    shug

    While I’m on a roll LOL

    ever listened to the Fed talking?

    I know semantics because of my history in neurolinguistics, No wonder the price goes up and down like a jack in a box when they speak, they don’t even know what the hell there talking about! they must look at a screen with the market as there talking and say something positive then change it quick to negative then change it back.

    Got to laugh

    01/29/2023 at 1:40 PM #208650
    shug

    Another myth is the person who says the market is easy it can only go up or down so you have a 50/50 chance of winning, not true at all there are more variables in the equation than that unfortunately

    01/29/2023 at 1:49 PM #208651
    PeterSt
    shug wrote:

    What do you think the difference is between the 5% of consistent winners in this game and the 95%  that don’t make it? There is no right or wrong answer to this question but it might help part of the 95%

    What if I’d let in the middle whether I am part of that 95% or the 5% …

    The other day I attended an IG conference. Actually without exception I saw everybody eager to obtain the Professional status, those people

    a. not even knowing that this would influence their protection;
    b. they hunted for one thing only : better margin.

    Were “you” coincidentally there ? then please don’t blame me for having an opposite opinion. 😉

    I have talked to many people in person, and did not find a single one who even the slightest could agree with my opinions on trading. Not sure what this tells about myself, but it tells at least that I am “different” (still not telling in which 95-5 camp I am).

    I noticed that while sitting days, weeks, months next to my son, I

    a. could show him dozens of times per day how to do it (FWIW – ehh);
    b. I told him how to do it as many times or much more …

    … he still does not have the same hang of it as I am. But how come ?
    I don’t trade with indicators so I also can not tell him how to use those and be technically and rigid and … how to end up in the 95 camp definitely.
    (still not telling where I am)

    In the end it translates for a larger deal to what this topic is about (or at least how it started out) : it is a way of living, it is going with the (price) flow, it it reading charts of which I often have many versions (TF) on-screen.
    One example of this again :

    My son, he is the very best at zooming. I can tell him 25 times per day for months in a row that he will lose his reference by doing that, but he keeps on doing it.

    It is obvious : I don’t. But worse : I look at the charts for by now so many years and for 12 hours+ per day, that indeed it is so that I know how to “read” them blindly.
    Somehow this can’t be taught, as it seems.

    Trading is an obsession. I know this for myself. A sneak-peak may tell you that I could be in the 5-camp because of that. I rather lose money than be bored. But that too has its limits, so it is a skill to know when to stop trading (and fight the obsession).
    By all means, also by losing means, I appreciate my doings as experiences for the future. Each day with larger losses, I take with me as a “won’t happen again”.
    You will make mistakes, you know.
    Take that as positive for the next time.

    It could be a wise thing to not use your winnings as something you are allowed to lose again just as well. Why ? well, because you might need the money for worse times. Just investing what you win, may not be related to worse times at all while you still may easily lose it. Don’t start betting with it.

    1 user thanked author for this post.
    avatar shug
    01/29/2023 at 1:55 PM #208652
    shug

    Just 1 more

    I know a lot of readers in here just want to hear me saying .. do this when that happens enter and exit here, just plain and simple.

    At least that is what I wanted, never mind all the crap and just tell me what to do so I can jump on my chart and make some money quickly.

    To be honest I could do that but you’d only be getting 1 small part of it If I did.

    In order to ‘get it’ properly you need it in bite size chunks and you need other parts of the puzzle which I have provided in previous posts, if you didn’t catch them you will have missing parts of the complete picture.

    I’m painting pictures with words guys, some are blatantly obvious.

    The reason I choose to do it this way is to let you come to your own ‘answer’ I want a lightbulb to go off in your head when ‘you’ realise it yourself its better than someone just telling you straight out.

    That’s the thing that will give you the confidence to actually do it

    01/29/2023 at 2:11 PM #208654
    shug

    Trading is definitely not for everyone! You do well With your trading.  I can understand completely what you say there. Nothing beats screen time! a lot of young ones don’t want to put the time in on the charts they want instant gratification and the ‘method’ your using is more or less impossible to hand to someone on a plate if they haven’t had the screen time you have!

    Let him work in a coal mine for 3 weeks and see if he changes his mind LOL

    01/29/2023 at 2:22 PM #208656
    shug

    My son got into mechanics, working on aircraft (surprise surprise), at this time he got married and moved to London and now works fixing and maintaining trains. H e works long hours and often has to sleep in his van because his workplace is so far from his job. Doesn’t have the time to watch charts all day! I know others are in similar situations as him.

    It would be nice to be able to hand him 2 million and go see the world but I’m not in a position to do so

    01/29/2023 at 2:36 PM #208660
    shug

    For some people here

    I’m not close to 1 million yet not even bought a house yet, I still work 7 days a week as well as trade, I might be the wrong person to look at for advice trading! I do get a lot of wins in my trading but remember I’m only going for a few points at a time. Other people in here get a lot more points than me with 1 trade and Probably make a lot more money as well.

    I’m no guru with trading and I haven’t made a lot from it either.

    I’m still living in hope that I can make a living from it

    Hopefully I’m a step closer now than when I first started

     

    Even after the 500 trades, I still wouldn’t go to up to £20 a point on a trade, not because of the margin but because with markets you just never know

    01/29/2023 at 2:55 PM #208666
    shug

    Have a look at my 5 min chart, can you make sense out of the madness?

    I certainly can’t.

    I can zoom in though and make sense of each candlestick and know what it represents along side other candlesticks close to it!

    I can also do the same with the 1 hour chart

    So knowing that, what should I do?

    Look at the 1 hour timeframe then notice what’s happening then go directly to the 5 minute and trade it?

    sounds like a plan doesn’t it?

    well guys that’s what I’m doing in a nutshell

    01/29/2023 at 3:06 PM #208671
    shug

    Nothing fancy going on, no magic indicators no holly grail no hidden information I’m receiving from banker insiders. just 2 charts and I don’t even need the higher timeframe chart, I can trade without it no problem but you know how things work, add this add that trying to make things even better but the more you add the more things don’t line up and the more confusion sets in

    01/29/2023 at 3:07 PM #208672
    PeterSt

    Contrary to what I told about “never increase the position of a winning (more and more) trade, it would be perfectly allowed to trade with more $. If you can do it (win ‘m), you can do it.
    This is very different from trading for more points (or I don’t understand).
    But I am sure that I don’t need to tell you ?

    01/29/2023 at 3:15 PM #208675
    shug

    I know what you mean, Sometimes If I just know that I’m going to win I do put more on a point but still stick to a sensible amount per point just encase it goes south ! Its easier when only going for 5 points or so and knowing what the loss would be on that trade so the drawdown is easier to make back up again if it goes wrong I know I’ll more than likely win the next bet anyway.

    01/29/2023 at 3:24 PM #208677
    shug

    There is confidence and overconfidence

    The overconfidence has stung me in the past so I have an aversion to putting too much a point on, the idea is simply to gradually build the account up (no rush)  and even then only go up in increments of £1 a point on top of my usual position size

    01/29/2023 at 3:29 PM #208678
    shug

    Probably others thinking the same thing, thinking if I could win that man trades in a row I’d go £50 a point because I know I would more than likely win but I wouldn’t, in fact I couldn’t afford the margin requirements anyway LOL

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