I mean your knowledge backed by experience. So it is something you understand intellectually and found evidence of. With your weekly pivot example: your observations are the evidence; just my guess, you think many people watch this area - is your knowledge (I'd prefer a more solid argumentation).
My beliefs are that markets are highly efficient nowadays and opportunities are limited, both in number and in their time window. There are institutions behind every move as well as on the other side of every move. So I think it is easier to foresee short term direction as opposed to longer term bets. I don't mind having no idea about where the market is going or even "probabilities" of this direction apart from specific situations which I understand.
Can you help answer these questions from other members on futures io?
If you want help, a good place to start would be to go back to your first threads on futures.io (formerly BMT) and read all the advice you were given and ignored the first time.
If you pursue any vendor, zulu, c2, trade room, whatever, it's just another sign you are going down the wrong path.
If you were serious about becoming a real trader you wouldn't be seeking a signal provider. All that would do is add more useless clutter for you to confuse yourself on.
I agree with @Big Mike go and re-read your old thread. Read the ask any question thread. Go back through the getting started webinars. Work to understand how and why the market is doing something.
When I first started trading I seemed to buy the high and sell the low, everytime. So I became determined to understand why people where taking the other side of my trades (and profiting). Why would they buy there, why would they sell there? This lead me to learn more about price action, market profile, auction theory, etc. I needed to understand how and why? Now I can see other traders in the price action. I get a sense of why they are fading a high, buying a dip, or taking profit. I also am starting to understand where their stops are or should be.
I may not be able take each trade I see, or execute the ones I do correctly. But that is not my job. My job is to formulate an idea based on what I can determine then use a small amount of risk capital to test it. Once the trade is execute I have 3 tasks. Cut losers quick, manage risk, and then try and maximize my profit. That is all I can do and I will do better as I gain more experience. So will you. But you have to get away from the BS.
The following 7 users say Thank You to tturner86 for this post:
haha, Mike beat me to it. You received excellent advice in your early threads a year ago,...which was ignored. I was amazed at the time by how much effort people put into responding to you with sound advice. You won't receive anything new now. What was good advice a year ago is good advice now.
The only question is, will you actually put in the hard work required and realize how long of a journey this is.
Diversification is the only free lunch
The following 4 users say Thank You to DarkPoolTrading for this post:
The only conundrum with this is whether I join when I have a proven trading model, or join when my skill isn't quite high and learn from their experienced coaches.
I have also heard that TST isn't for traders who scalp, more for those that hold longer positions. Correct me if I am wrong.
Thank you to all those that replied (keep replying)
Would you be able to explain why an individual couldnt do both?
Again, I want to be clear, I do not intend on solely becoming a copytrader, but just subscribe to a signal provider on the side, and while I am earning (hopefully) from this algo......I will of course be learning market profile and PA, with the emphasis on trying to understanding the market. This is what it says in my last sentence.
I am focussed on the ES anyway, and ZT is forex, so it would really be an investment so to speak.
I also am starting to think mechanical trading, would suit be better vs. discretionary.
I really appreciate kevinkdog's approach, and at this moment in time I will look to designing trading models and backtest them......then after having N=100 trades backtested eventually launch the ship at the docks and see if it floats/sails etc.
In this way I will be more accepting of losses, if my backtesting work shows the model has a high expectancy rate.
You do realize some people just don't make good traders right? I am not a good basketball player, it doesn't mean I've failed at life it just means I can't play ball. I can trade. Others cannot trade, but can play ball.
Your issue is you are determined to ignore all advice given to you. You've made close to zero effort. You don't ask intelligent questions which gives me major insight to the fact that you've not really paid attention to the advice you've been given. In fact, you do the exact opposite.
The only reason you have not been banned from the site already is because another futures.io (formerly BMT) member paid your Elite Membership fee out of their own pocket because they wanted to try to help you. I wanted to give that person the benefit of the doubt as they saw something in you. But what you've done with that charity is appalling.
If I do end up banning you, it will be for your own good. I will seek out the person that paid your membership fee and give them a refund.
Start taking things seriously. If I see you blatantly ignore another piece of advice then your gone. It is my hope that in banning you that you will abandon your pursuit of trading altogether. I simply cannot stand by and watch you kill yourself (metaphorically speaking).
lol as tigertrader said everyone is entitled to their own opinions.
Mike,
This is a fantastic site you have created, and I congratulate you for that, but I am sure everyone will agree that by deciding to ignore an individual's advice is obviously not a legitimate reason to ban someone.
