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Use your brain! Mechanical indicator-based systems don't work
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Use your brain! Mechanical indicator-based systems don't work

  #41 (permalink)
Membership Revoked
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George is essentially quoting Mark Dougles and Jesse.

Cramer likes to plagurize Jesse without shame. His entire book series can be had for free by reading Jesse.

The best indicator is your money.

If the market is moving higher, then it will probably move higher for a bit longer. The probability of it not is about 5% maybe 10%.

That is all you need to know to make money. This is not to say you can make more money, or less money.

You have the "secrets" now, but you won't use them. You will look for something else, lol. And that is predictable ;-)



George View Post
The solution to all this is to get rid of your past. The past contains the the past and nothing else. You have to adopt a different mind set. Normally we live our lives by our expectations. Stop doing that in the markets. Concentrate on the now, that's where the action is taking place. Get rid of your past, and you'll get rid of your tunnel vision.

One way of doing that, is what my old NLP buddy is suggesting. Get rid of news, financial media, trading buddy's, and stop reading predictive material.
The reason is to filter out, every single thing that's constructing your expectations. You have to understand that by watching an indicator, or the financial news, the only effect of that is that it gives you expectations. Now, the problem is not having them, the problem, is the way you react when they're not met.

Pick up one market and get familiar with it. Start by observing it, without acting, just observe it and see what it's telling you. Get familiar with it, in the now, don't expect it to do whatever you expect it to do. Just watch it, and let it tell you what it is doing.

After you've got familiar with that. Change your mind set once again, and start to think in terms of:

The only thing I need to do, is to throw my money in, in order to see what's going to happen. And when I do that, I'm only going to throw in a small amount of money, only and only to find out if, what I perceive in this moment is going to take the shape of a probable desired action.

That in my opinion is "all you need"!


/George


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  #42 (permalink)
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Jugador View Post
Five minutes before the market opens, I take a very eclectic and secretive formula that has been in my family for 75 years. Oh, heck...I'll just go ahead and tell you guys.

Five minutes before the open, flip a coin. Heads, buy at the open...Tails, sell at the open. If your wrong, stop and reverse after a 5 or 6 tick loss. Do that 3 or 4 times, or until you get a 3/1 risk reward trade. You'd be surprised...

Ive seen that somewhere . Maybe ET , but the guy tracked his P/L and beats most of the others .

I want to try that - like enter at the open and exit at the bell and track what happens after a nice sample size . Something maybe like long if the kids cooperate before getting on the bus and short if they break my balls first.

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  #43 (permalink)
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Eric j View Post
Something maybe like long if the kids cooperate before getting on the bus and short if they break my balls first.

That'll work...

Seriously, tho...I do believe anything will work if you stick to it and use good money management. The biggest problem I have is not sticking to a plan. I'm constantly looking for that "Grail", to no avail. (dang, I think I'm a poet, and didn't even know it!)

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  #44 (permalink)
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trade2win View Post
George is essentially quoting Mark Dougles and Jesse.

Cramer likes to plagurize Jesse without shame. His entire book series can be had for free by reading Jesse.


Just a clarification Mr NLP! I'm not quoting "Dougles" or Jesse. I'm just quoting my own EGO!

/George

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  #45 (permalink)
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Well said George!

You've summed up where I'm at and it reaffirms my efforts...thanks!



George View Post
The solution to all this is to get rid of your past. The past contains the the past and nothing else. You have to adopt a different mind set. Normally we live our lives by our expectations. Stop doing that in the markets. Concentrate on the now, that's where the action is taking place. Get rid of your past, and you'll get rid of your tunnel vision.

One way of doing that, is what my old NLP buddy is suggesting. Get rid of news, financial media, trading buddy's, and stop reading predictive material.
The reason is to filter out, every single thing that's constructing your expectations. You have to understand that by watching an indicator, or the financial news, the only effect of that is that it gives you expectations. Now, the problem is not having them, the problem, is the way you react when they're not met.

Pick up one market and get familiar with it. Start by observing it, without acting, just observe it and see what it's telling you. Get familiar with it, in the now, don't expect it to do whatever you expect it to do. Just watch it, and let it tell you what it is doing.

After you've got familiar with that. Change your mind set once again, and start to think in terms of:

The only thing I need to do, is to throw my money in, in order to see what's going to happen. And when I do that, I'm only going to throw in a small amount of money, only and only to find out if, what I perceive in this moment is going to take the shape of a probable desired action.

That in my opinion is "all you need"!


/George


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  #46 (permalink)
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banbrooke View Post
i didn't meant to say that this is the only system that work

i meant to say that is system works for me , everything else i try didnt work and i find that this works for me , i fell more comfortable when i take a trade that GS took at the same time

also you said and T2W that GS out run their customers and you hear it on the squawk dont you want to take the same trades?

sorry don't need a stinky GS to tell me what to do. I like to take trades based on my opinion (then I know who to blame)

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  #47 (permalink)
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trade2win View Post
George is essentially quoting Mark Dougles and Jesse.
;-)

excellent post trad2win

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  #48 (permalink)
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gio5959 View Post
excellent post trad2win

Now,

Here we have an excellent example from Gio, related to being stuck in the past. And by that I would like to thank Gio, for his contribution in order to teach people about the danger of getting stuck there. It's a bit destructive, especially in the markets.

You see, Gio made some posts in the thread I started called Harmonic Trading. He refered to Elliot Wave in the context of Harmonic Trading. I asked him nicely to stick to the HR instead. Eventually he started to pick on me. He posted one comment that was rather rough I guess, because he changed his mind, or he got it deleted.

After some more posts, he asked me to apologize because I was, according to him insulting the intelligence of all people. I apologized (by the way, imho, that was never the intention, and I believe that people did not felt insulted at all, because there were no insults there).

He continued! Eventually he stopped, and left the thread to develop without him! Once again, thank you for that Gio.

Now, he's flashing again with his irony by quoting a post that, I myself find a bit way of context.

You see, what the past is doing to you. It's giving you a big, big bonus of destruction. I mean the guy hasn't been able to let it go yet. So you have to let go of the past, especially when you have experienced a bad trade! Or a good trade for that matter as well, because that too is creating an expectation spelled, I have to do it again!


/George

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  #49 (permalink)
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Quoting trade2win: George is essentially quoting Mark Dougles and Jesse.
;-)
i reiterate trade2win - excellent post

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  #50 (permalink)
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George View Post
Now,

Here we have an excellent example from Gio, related to being stuck in the past. And by that I would like to thank Gio, for his contribution in order to teach people about the danger of getting stuck there. It's a bit destructive, especially in the markets.

You see, Gio made some posts in the thread I started called Harmonic Trading. He refered to Elliot Wave in the context of Harmonic Trading. I asked him nicely to stick to the HR instead. Eventually he started to pick on me. He posted one comment that was rather rough I guess, because he changed his mind, or he got it deleted.

After some more posts, he asked me to apologize because I was, according to him insulting the intelligence of all people. I apologized (by the way, imho, that was never the intention, and I believe that people did not felt insulted at all, because there were no insults there).

He continued! Eventually he stooped, and left the thread to develop without him! Once again, thank you for that Gio.

Now, he's flashing again with his irony by quoting a post that, I myself find a bit way of context.

You see, what the past is doing to you. It's giving you a big, big bonus of destruction. I mean the guy hasn't been able to let it go yet. So you have to let go of the past, especially when you have experienced a bad trade! Or a good trade for that matter as well, because that too is creating an expectation spelled, I have to do it again!


/George

sorry george, but without the past you can't trade. you need the past to see highs and lows, you need the past to find support and resistance areas. you need the past to see how price and volume are developing (even if you don't have any other indicators).

p.s. reading your post, it seems you can't let go from the past either

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