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What was your biggest misconception?
Started:October 9th, 2014 (06:08 PM) by tturner86 Views / Replies:6,058 / 69
Last Reply:October 15th, 2016 (05:23 PM) Attachments:0

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What was your biggest misconception?

Old March 18th, 2015, 01:50 PM   #31 (permalink)
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My biggest misconception was (roll drum...) price is at support, it can't go lower.

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Old March 18th, 2015, 01:57 PM   #32 (permalink)
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trendisyourfriend View Post
My biggest misconception was (roll drum...) price is at support, it can't go lower.

I was pondering your statement. What factors do you believe lead you to this misconception? Lack of trading experience? Not enough back testing? ???

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Old March 18th, 2015, 02:07 PM   #33 (permalink)
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sledmt View Post
I was pondering your statement. What factors do you believe lead you to this misconception? Lack of trading experience? Not enough back testing? ???

Cognitive biases which may sometimes lead to perceptual distortion.

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Old March 21st, 2015, 12:09 PM   #34 (permalink)
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Easiness of using past price action to predict future movements.

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Old March 21st, 2015, 12:41 PM   #35 (permalink)
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Cornix View Post
Easiness of using past price action to predict future movements.

You thought it would be easy and it's not or it was easier than you thought?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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Old March 21st, 2015, 11:00 PM   #36 (permalink)
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You thought it would be easy and it's not or it was easier than you thought?

Finding an objective edge in liquid financial markets is one of the hardest tasks in the world it turned out. Most people who start trading are either lured by advertising or read books from like 80's or tech bubble of 90's when markets, especially stocks were so much different.

I was amazed, when had a chance to compare trading CME futures to trading physical goods. The latter is like money on the floor compared.

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Old March 23rd, 2015, 06:05 PM   #37 (permalink)
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Cornix View Post
Finding an objective edge in liquid financial markets is one of the hardest tasks in the world it turned out. Most people who start trading are either lured by advertising or read books from like 80's or tech bubble of 90's when markets, especially stocks were so much different.

I was amazed, when had a chance to compare trading CME futures to trading physical goods. The latter is like money on the floor compared.

Do you believe some of these misconceptions could have been eliminated by good back testing or is it some thing that has to be learned in the market?

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Old March 23rd, 2015, 08:41 PM   #38 (permalink)
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addendum to my previous post:

Another misconception: Indicators will predict what will happen in the future. Seriously wrong on this count. Discovered indicators are nothing more than a historical record of whats already has happened. No wonder they don't work!!

Robert

nosce te ipsum

Trade what the market is doing; NOT what you think its going to do.

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Old March 23rd, 2015, 10:12 PM   #39 (permalink)
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I thought I only needed 5k to be rich!

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Old March 24th, 2015, 01:59 AM   #40 (permalink)
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I used to think that the markets were 100% fair and equal for all participants...(no stop running, no fill advantage, no front running, no size hiding etc)...now I know that when big money is involved, anything that they can get away with, is acceptable !

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