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Trading is the easiest endeavor in the world.... part 2


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Trading is the easiest endeavor in the world.... part 2

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 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2
--------------------------


trading is the easiest endeavor in the world....



yes, definitely;

selected previous responses:

rch 10th, 2012, 09:16 AM #3 ( permalink) DionysusToast
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I agree.

I traded today a number of times.

Went to Starbucks and got a coffee & breakfast.
Went to the supermarket.
Brought some smoothies from the Mall.

All involved trading.

Lornz
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  #3 (permalink)
 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2
--------------------------


trading is the easiest endeavor in the world....
-------------------------

DionysusToast




I once traded my dignity for a handful of quarters...
March 10th, 2012, 10:03 AM #5 ( permalink) trendisyourfriend
Market Wizard
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Change the word "trading" by "winning consistently" and see if it still makes sense


March 10th, 2012, 10:04 AM #6 ( permalink) Lornz
Speculator Extraordinaire
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trendisyourfriend
Change the word "trading" by "winning consistently" and see if it still makes sense


It's still true, at least for Charlie Sheen.

ReaM
Trading for Fun
USA

Trading Experience: Advanced
Platform: many
Favorite Instrument: Stocks





FIRST POST HERE:

Trading is the hardest thing I've ever done in my life. It's a very painfull full time activity which when traded unprofitably destroys your self-worthiness and gives you suicidal thoughts. I'm going to have grey hair before I am 30.

According to Tom Baldwin only 1% makes any significant money in markets. There is a nice analysis on forex factory somewhere showing that about 3.5% of people are profitable trading over a perioud of I believe 10 years. The rest is losers. How is that easy?

Good Luck with your journal^^


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 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2; section 3
--------------------------

trading is the easiest endeavor in the world....
-------------------------

DionysusToast


Billbb
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ReaM
Trading is the hardest thing I've ever done in my life. It's a very painfull full time activity which when traded unprofitably destroys your self-worthiness and gives you suicidal thoughts. I'm going to have grey hair before I am 30.

According to Tom Baldwin only 1% makes any significant money in markets. There is a nice analysis on forex factory somewhere showing that about 3.5% of people are profitable trading over a perioud of I believe 10 years. The rest is losers. How is that easy?

Good Luck with your journal^^


True that !!


nakachalet
Elite Member
andaman coast, siam

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Posts: 241 since Aug 2011
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--------------------------------------------------------

thx much everyone for visiting and leaving your thoughts....

thx much everyone for leaving your thoughts.

as @ Conal revealed in his latest trading journal which i responded and congratulated him thusly:

now, conal, you are on one of the right tracks....
Conal
Lessons for Friday 3/23/12

Time in Trade : I noticed a few trades that became profitable right away. Conversely, other trades were either profitable then stalled and came back to my entry (ES short 10:01) or never took off from my entry (QM 10:31). Perhaps if the trade does not work rather quickly then it's indicative of poor trade location and should be exited early, before the stop or target it hit.



it appears for the very first time, you stumbled upon the very fact that if and when you have an indicator or indicators that correctly, more often than not, could ride on the ridge of price action, north or south, as it revealed itself to you when you stated that--I noticed a few trades that became profitable right away....; then if you could tweak that indic to include sort of empirical price action sample....

that same indic would serve you and enrich you more than you can imagine.... is my one man opinion.

good luck and have fun. and wishing you the best.


MORE IMPORTANTLY:

a trader really does not need many fancy charts and indic to become profitable and consistent.

as everyone can see, you really need only one reliable indic to trade reliably, profitably and consistently.

will try to include more graphics demonstrations as samples in this thread next.

wish every trader would have a wonderful quality time with your significant others this weekend. cheers.




Billbb
True that !!



nakachalet
Elite Member
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for beginning traders, trading is never easy, even if you have several Ph.D.s



this most recent post in bmt also spells out beginning traders' multiple woes and such:

forgiven
Elite Member
knoxville tennessee usa

you have made a very good frist (sic) step,coming to this forum this is the real deal. i was in your shoes 4 years past.

number 1 DONT BUY ANY TRADING SOFTWARE

#2 DONT BUY TRADING COURSES. MOST OF THE PEOPLE SELL THIS MATERAL (sic) DONT REALY (sic) TRADE.


#3 KNOW THIS WILL THE THE BIGEST (sic) CHALLANGE (sic) YOU WILL HAVE HAD IN LIFE.


IT WILL TAKE 2 YEARS OF HARD WORK....

---------------------------

trader goes by the name 'forgiven' really said it well in what was intended to say here in this thread.... as preliminary exposition.

it is analogical to becoming board certified physicians, you really have to know your stuff and to know everything really well.

but then, it is even much easier to become a board certified physician.... than to become a consistently profitable trader.... and that is another immutable fact in life as well.

in medicine, when you learned all the required voluminous facts and figures and then some.... you would be certified and earned your life long degree to practise.... attempting to heal all physical ailments....

however, in trading--as everyone already realizes, there is no such thing as life long certification, much less life long trading successes, as in medicine. in trading, even if you could learn everything offered herein at bmt, you are still not guaranteed--that your holygrail setups will produce similar profitability today as yesterday.

just when a trader is reasonably sure that he/she is on cloud9, whatever he/she touches has had already turned into gold in the morning.... but then in the afternoon session, for whatever reasons, the immensely successful traders in the morning, trading in the same manners as in the very successful morning session; would not be able to hold on to profits generated from the morning session. such similar examples are plentiful indeed.

the aforementioned are presented in general terms and preclude those group of traders who watch and trade exclusively on their own certain specific setups only which come across their screens only a few occasion per trading day. this highly successful group are profitable only by the very nature of their own creation--they trade very selectively and they only trade on their own proven setups and patterns. my trading friends, even as selective as they are.... they are still not completely profitable each and every trade....

the very same setups that proved profitable a few hours ago, might just prove the traders wrong in the very next succeeding attempt. and this is another immutable fact. the liquid market and traders on the other side of your trade do have their own minds and their own different masters to serve. so the over-simplified axiom--cut your loss, most definitely still prevails; if a trader wishes to trade again the next day.

am going over pix of trades taken over the last month to post here. and i beg your indulgence and thank everyone for your long sufferings and such.

perhaps, you would be able to see many of my errors and learn to delimit them in your own trading styles and fashions. wishing everyone happy and profitable trading in the coming week. cheers.






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 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2; section 4
--------------------------

trading is the easiest endeavor in the world....
-------------------------

DionysusToast


GFIs1
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nakachalet
trading is the easiest endeavor in the world for anybody and everybody....;


Hahaaaaa!
1) Got mailbox filled with nice mails stating that trading IS easy and brings instantly a LOT of BUCKS
2) As I need not much money - there we go: Invest - trade - trade - broke the account
3) after many refilled accounts (you got it already) there are only two ways:
3a) QUIT: ahhh - there the 95% of all traders go
3b) Trade consistently profitable and stay in the game - these are the < 5% left

This is all hard work at any time.
If one thinks without learning and invest money into learning more than the basics there is no chance
to survive as a trader.
Expecting a learning curve of more than 2 years to reach that state of profitability. So it is very clear
that not many people will go this painful path of seeing their money draining...

GFIs1

ReaM
Trading for Fun
USA

Trading Experience: Advanced
Platform: many
Favorite Instrument: Stocks




2ND POST:

You have written a very good post, nakachalet. You seem to have an idea about how trading is done. Probably more than i do

nakachalet
Elite Member
andaman coast, siam

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reasons for setting up journal....

Big Mike
Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?
D) How do you feel, overall, about your journaling experience?

E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike


In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

1--it helps to stay more intensively focused on each trade.
2--it hightens your interests in each trade....
3--it intensifies your awareness of each beginning setup of a trade.
4--it helps you to face the fact regardless of profitability.
5--it humbles you when you have to post your negative trades, however small.


B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

1--it takes lots of minutes and preparation, particularly in my case, when i like to include pix of each trade taken, to clarify my subsequent self-evaluation of each trade.
2--it practically interferes each decision making to enter or not to enter a trade, when another product setup appears to show profitable setups, as well.
3--it takes even more time to categorize and to group each trade into its category.
4--it creates unnecessary self-doubt regarding if you've already maximized each trading opportunity, when posting regularly; when in actuality, it takes much more time to evaluate each trade and its conditions upon entering and also upon exiting a trade.
5--it would destroy some weaker traders' self-confidence and impending trade, if successive failures were recorded in succession. .


C) Were you initially reluctant to start this trading journal? If yes, why?

only certain concerns as to how much do i want to show other fellow traders, what and how do i manage setups, trade management and follow-up.

D) How do you feel, overall, about your journaling experience?

it is more suitable for beginning traders to keep track of each of their trades and write down reasons for each trade to sharpen their senses and awareness of why each trigger is pulled, than those already trading for a living who are so very used to pulling the trigger almost as a second nature, so to speak. besides, brokers' daily report would also already provide each trading particular in detail, in addition to traders' own on-screen dom and such.

E) Would you recommend to others that they should also start a trading journal?

see response in d which is more appropriate for beginning traders and perhaps many in between. so they can find reasons for each trade and reasons why certain trades are successful while some are not so successful, particularly when the same setups and similar conditions are observed and executed accordingly. in my opinion, it won't hurt to habitually record your own trading journal manually or electronically.



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 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2; section 5
--------------------------

trading is the easiest endeavor in the world....
-------------------------

DionysusToast


#17 ( permalink) nakachalet
Elite Member
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@InTheBubble: congrats and here is something to shoot for, if you like.
Attachment 69795
InTheBubble
Very true but it takes more than two years of hard work


very very few, as a matter of fact, would be able to emphatically say what you did.

congrats, indeed.

a nonsensical dreamscometrue 002




a nonsensical dreamscometrue 003

------------

whatever happens to those pix....LOL

there are 5 pix and one video....

OH WELL.... again my humble apology, my very own inadequacy in not being able to post pix and video at the same time. shame on me.



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 nakachalet 
siam, west coast andaman sea
 
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here is the recapitulation from the first thread--so-called part 1.

trading is the easiest endeavor in the world....

AGAIN.... greetings, traders.... part 2; section 6
--------------------------

trading is the easiest endeavor in the world....
-------------------------

DionysusToast
(continue)

....most traders who are still making the journey.... because of their personal real live experiences.... which are very real and excruciating for most.... are not able yet, at this point in time, out of their trading experiences, declare that....

if and when.... you have the formulae or formula to not only tell you but also show you graphically on screen--when to enter and exit a trade at the 70% (?) level of confidence....

trading is truly the easiest endeavor in the world....

WHICH I ALSO KNOW ONLY A SMALL PERCENTAGE WOULD MAKE IT THERE ON THEIR OWN.... AND THIS SMALL GROUP DOES HAVE THEIR VERY OWN VERY ABERRANT IDEAS AND WAYS OF TRADINGS....


most would consider these traders abnormal and arrogant; but as a matter of fact, most would just like to be by themselves doing whatever they are doing, at whatever time span, at whatever speed and at whatever manner.... that appease their own individual characteristics and preferences.... which alone would cast serious doubt in many minds....

thank you very much everyone for spending your precious moment here, which is very much appreciated indeed. to compensate you for your time, would like to leave you something that hopefully would inspire each of you to also come up with your own holygrail but with a much better, much more precise, much more accurate and much more consistently profitable module than what you see here, K?

enjoy everyone and thank you again for visiting, much humbled.

------------------------------------------------------------------------------------------------------------


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 nakachalet 
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The following errors occurred with your submission:
  1. The text that you have entered is too long (190402 characters). Please shorten it to 50000 characters long.

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 mrmuggins 
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Trading may be the easiest thing in the world to you. But you are successful. I am not.

So don't show off.

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 nakachalet 
siam, west coast andaman sea
 
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mrmuggins View Post
Trading may be the easiest thing in the world to you. But you are successful. I am not.

So don't show off.

@ mrmuggins

this is a personal journal--recording whatever trades that have had just transpired.

it is never intended to show-off.

when a trader comes by to visit, it is hopeful that from the avenue that has been chosen here that is always to include screen shots, rather than verbal explanation of what transpired;

that traders would be able to understand and perhaps pickup something to augment their own trading personality and style, if they so wish.

i am truly contrite if this gives the impression that the exposition conveys show-off which never is its intent. my humble apology to you, mrmuggins and also to everyone else who might feel the same.

more importantly, by the very fact that you are here with a bunch of other traders at bmt, you are already a head and shoulder above numerous others who are still in the dark about trading profitably. there are many much more prolific traders on board here who have consistently contributed unselfishly to enrich every other traders and have never asked for a dime in return.

mrmuggins, if you stick around long enough, you could be even more successful at trading than many of us, K?

90% of what you see on the application side, are all available here in the download section practically free to everyone who wishes. you just need to tweak around a little so it would fit your own trading spec, alright?

big mike's own old trading journal would be one of the very best guidelines for any trader who wishes to progress toward profitability and consistency.

cheers everyone.

@mrmuggins; specifically, if you wish to progress toward profitability and consistency real fast and in a big hurry, why not just copy a few things that big mike did in his journal?

just setup exactly as he did in terms of long term, medium term and short term signals.... big mike also provided a much more verbal explanation in his personal trade journal. imho, you could even become reasonably profitable within 2 months, if you could duplicate everything he did so successfully. but just don't tell him that i said to copy his success model, his head will just swell even bigger than ever, K?
thx for coming by and expressing your opinion which is duly noted, K?

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 nakachalet 
siam, west coast andaman sea
 
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nakachalet View Post

The following errors occurred with your submission:
  1. The text that you have entered is too long (190402 characters). Please shorten it to 50000 characters long.

this text appeared 7 or 8 times, each time, i deleted some passage to trim down to fit the requirement.

after a few trimmings, the thoughts, ideas and questions generating from looking back at trading multiple products at the same time.... are completely deleted from the screen which is very unfortunately. it has been a couple of hours since i first started on part 2. and it does not seem that the essence of trading and the incurring inherent problems concerning trading multiple products at the same time, remains any where to be noticed here, so very sad and so very wasteful. just what sort of posting program is being employed here?

succinctly, even posting this single chart has been considered as too long....?????

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