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Primary source of income: how many have made it?
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Primary source of income: how many have made it?

  #201 (permalink)
Elite Member
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jstnbrg View Post
I didn't know Sam Judlo. Yosi was indeed a stitch. Were you there the day Charlie D came up to him after the close and just screamed at him because of the way he had marked a back month?


Vaguely remember that incident, but my favorite Charlie story is when he walked by a visibly distraught Steve Leonard, who had just lost $2MM scalping, and said, " Shit, he only dropped 2MM; I thought he would handle it, better than that!"

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  #202 (permalink)
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itrade2win View Post
My philosophy is never to take advice from anyone who is at the same level or below myself.

This type of comment has been made before and I am always against it. Not to bewilder others on this forum that are struggling in any way ---- but, if you look at the trading journals section you will find many examples of what not to do. It is much more clear when you are reading it from a distance than the one posting it. And the guys posting to their journals deserve our respect, because they are actively trying to improve.

At any rate, the point is there are many examples of where you can learn from others that are not successful. If 95% of the game is psychology, something I don't really dispute btw (well psychology+money/risk management), then seeing the mistakes these other guys make should really help you know what not to do in your own trading. And that means you can learn from someone even if they are "below" you.

Mike

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  #203 (permalink)
Site Administrator
Manta, Ecuador
 
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Moderator Note
Two members participating in this thread have been temp banned for 3 days for writing offensive posts (which have since been deleted). You can call it "censorship" if you want, what I call it is stupid for posting it in the first place. Especially when I have made it clear that futures.io (formerly BMT) is not a place for this and it will not be tolerated, there are other forums where that type of stuff is allowed and it would seem almost encouraged. Not here, I will have none of that. Show respect, or leave.

If you have a problem with what someone has written then do the mature thing and Report Post and let the moderators deal with it instead of slugging it out.

-- Big Mike


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #204 (permalink)
Student Of The Markets
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MetalTrade View Post
itrade2win, I wish you all the best. But you sound like a little too overconfident, what I read from you did not made me profitable, it was not only psycho stuff, so probably I take your money faster in this game than you can blink your eyes.

Why ? Because you will be focused on your psycho strength and you will have that in the back in your mind while trading, and meanwhile I will have your money.

The only psychological thing for me is that there is no emotion left anymore. Zero.

People do not become profitable because they read the right books, believe in themselves or treat trading as a business. These 3 items are heavily overrated. In fact, normal business rules don't apply to trading, that's why TREATING TRADING AS A BUSINESS IS PLAIN BULLSHIT.


MetalTrade,

All I can say is good luck and I look forward to the challenge. And when you take a losing trade it will probably be me taking money from you. LOL!!!

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  #205 (permalink)
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Guys

This is one of the best forum and we are very fortunate to have so many traders who are willing to share the indicators/charts and give advice.

Most importantly some members go out of their way to build indicators on request.I still believe there are no free lunches, but at futures.io (formerly BMT) you can afford to buy your lunches and then some as the indicators and advice are awesome here.

Debate but be respectful.....Have your opinion/s but dont forget others have them too.
Get serious about gratitude.....

Lets focus our energies on making a living out of trading and not

Keep your emotions cool,stay in control of your emotions, and you will be on top of the game always.

Happy trading and sharing

sharmas

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  #206 (permalink)
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Chiron
 
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Big Mike View Post
This type of comment has been made before and I am always against it. Not to bewilder others on this forum that are struggling in any way ---- but, if you look at the trading journals section you will find many examples of what not to do. It is much more clear when you are reading it from a distance than the one posting it. And the guys posting to their journals deserve our respect, because they are actively trying to improve.

At any rate, the point is there are many examples of where you can learn from others that are not successful. If 95% of the game is psychology, something I don't really dispute btw (well psychology+money/risk management), then seeing the mistakes these other guys make should really help you know what not to do in your own trading. And that means you can learn from someone even if they are "below" you.

Mike


you can ban anyone you want to ban for what ever reason you want but to say that trading is 95% psychology is not correct - if you knew the algorithm that governs the movements of price you would know what i mean

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  #207 (permalink)
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gio5959 View Post
you can ban anyone you want to ban for what ever reason you want but to say that trading is 95% psychology is not correct - if you knew the algorithm that governs the movements of price you would know what i mean

Would you please explain the algorithm that governs the movements of price the way you understand it?

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  #208 (permalink)
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gio5959 View Post
you can ban anyone you want to ban for what ever reason you want but to say that trading is 95% psychology is not correct - if you knew the algorithm that governs the movements of price you would know what i mean

This is a bit similar to the evolution of species. The plants came first. Psychology came first in trading and introduced feedback, just like feedback governs a school of fish or swarms of birds. Algorithms are the second generation of feedback mechanisms. They feed on psychological behaviour, just as herbivores feed on plants. The apparition of carnivores, that is algorithms that feed on algorithms is only recent.

The funny thing is that these algorithms seem to have human traits, being trapped by other algorithms in a similar way as we are by traders. And indeed markets are designed that way. You can even laugh at algorithms. If you think about it, psychology and algorithms are both driven by feedback and learned patterns, and traders have to unlearn and relearn in a similar way as adaptive algorithms.

I also disagree with the 95%. In reality there is a long process of setting up and testing and reporting setups, and once you have done your homework, your perception of the remaining task is something like 95% psychology. But this refers to the application of the rules elaborated, which is the on-stage performance.

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  #209 (permalink)
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If you guys don't think psychology is the most important factor, then how do you explain why so many (majority) of traders make money on sim so easily, yet when they go cash the majority lose big. Methods get thrown out the window, emotions take over, mistakes are made, bad habits and patterns formed - and now we are deep into psychology.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
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  #210 (permalink)
Market Wizard
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from one end you have 100 percent auto system guy to other end 95 percent is all psychological guy. Your job is to figure out where you are on the scale.

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