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Ten-thousand in Education and still not profitable!
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Ten-thousand in Education and still not profitable!

  #201 (permalink)
 Vendor: protradered.blogspot.com 
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sagi View Post
I couldnt agree more in respect to "look within" I am living prove...
I have also spent quite an amount on education etc...
I have learnt much and was even making profits quadrupling my account...
HOWEVER I am still not consistent because of ME not my trading system...
I have the psychological problem of moving my stops back when an order goes
against me to prevent me being stopped out...BIG TIME MISTAKE...
and the adverse effect it has of course, you end up loosing more and more to the
extent I have wiped out my account several times...
Trading is not that difficult being discipled IS...!
I keep telling myself being stopped out is part of trading....and yet only
a few days ago I wiped it out yet again...

Remember - the market is always right and you are mostly wrong. So, ask yourself, how expensive do you want being wrong to be? Sometimes you just know (based on your experience (gut) in the market) that you are right and the market is just squeezing you out. So, ask yourself again - how expensive will being right this time cost you?
In all cases, unless you have infinite funds that you can lose, you cannot compete with the institutions and funds. So, be wrong at the hard line in the sand of your stop, and you can be right again another day. I have known a very savvy trader who traded without a hard stop and made a lot of money over the course of a year. He lost it all in one day by removing his stop because he just knew he was right. ..... and he was right just after he lost his entire account, and price turned around right after breaking him.

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  #202 (permalink)
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Hope lives!


sagi View Post
I couldnt agree more in respect to "look within" I am living prove...
I have also spent quite an amount on education etc...
I have learnt much and was even making profits quadrupling my account...
HOWEVER I am still not consistent because of ME not my trading system...
I have the psychological problem of moving my stops back when an order goes
against me to prevent me being stopped out...BIG TIME MISTAKE...
and the adverse effect it has of course, you end up loosing more and more to the
extent I have wiped out my account several times...
Trading is not that difficult being discipled IS...!
I keep telling myself being stopped out is part of trading....and yet only
a few days ago I wiped it out yet again...

Although I no longer post on this thread and I don't post on ten thousand in education and finally profitable anymore either, I just happen to scan it and say your heart breaking entry.
I need to tell you that there is indeed hope. I am currently profitable!!!!!
all due to a gentleman on this web site who has a lenghy thread where he GIVES away a profitable system and actually setup a FREE trading room for us to watch him trade this amazing system make money.

Please look up cjbooth.

God bless you and YES, hope lives, his name is cjbooth!!

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  #203 (permalink)
Elite Member
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Jaguar52 View Post
Remember - the market is always right and you are mostly wrong. So, ask yourself, how expensive do you want being wrong to be? Sometimes you just know (based on your experience (gut) in the market) that you are right and the market is just squeezing you out. So, ask yourself again - how expensive will being right this time cost you?
In all cases, unless you have infinite funds that you can lose, you cannot compete with the institutions and funds. So, be wrong at the hard line in the sand of your stop, and you can be right again another day. I have known a very savvy trader who traded without a hard stop and made a lot of money over the course of a year. He lost it all in one day by removing his stop because he just knew he was right. ..... and he was right just after he lost his entire account, and price turned around right after breaking him.

Great story and point. Maybe to avoid that is to accept the small stop loss and just take that as "in too early" or "right, but at the wrong time"(i.e. "most aspiring/amateur traders are right, but at the wrong time")and then wait and look for the "second" or "third" entry in the "right" direction. Far easier to say than do.

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  #204 (permalink)
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"I love Charles's style of determining Price structure on the 1508 chart with all its nuances for a Long trade, Short trade, Pick and roll, etc. However I found my trade entry determination and ultimately trade profitablilty slightly improved when I used Perry's entry stratagy on the 377 chart. I personally found it to be less ambigious than Charlies 377 entry setup/criteria, and after all isn't that what we are all striving for, less ambiguity and better entry selection?

Will test it "Live" next week with 1 contract."

Good point about mixing ideas from other systems Bobby. I've done the same with my old methods combined with CJ's methods. CJ's 6e for more of the major swings, and my mixed system modified from other methods I took ideas from, for the scalping "in-between" the CJ6e waiting, when there is no current or clear signal. Watching how CJ does it, showed it can be done with patiently waiting, sometimes even hours ,something I didn't quite see and experience while looking for the "big swing" move before. But just like that the entry could be missed before you know it even if caught asleep for a minute, so some degree of constant vigilance seems required. Yes, I would second thanks to Charles for all his full help and giving us hope.

Now , it's just worrisome the last two weeks hasn't been that great for the CJ6e method on the 6e. With the 6e going nowhere enough to make a clear signal for long stretches, or suddenly trending without a good trigger, or ruining a CJ6e setup right at the trigger point, or even stop running an entry before resuming. Which seems to have happened more than few times in the last two weeks. I hope this doesn't spell the beginning of the end of the edge of the CJ6e system.


Last edited by Cloudy; September 5th, 2011 at 08:21 AM.
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  #205 (permalink)
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bobbyacim View Post
First, something I would like to say to BIG MIKE;
Mike, I respect and greatly admire what you have built here, solely for the purpose of exchanging ideas, techniques and methodologies for the betterment of others like myself who are struggling with their trading, and for a lot longer than 6 years! Extremely Commendable Sir!

HOWEVER, wheather a method that I could devise myself would suit me better or wheather looking internally for answers is the solution, etc, etc..
I remain true to the main reason for starting this thread

IN 6 YEARS OF EXHAUSTIVE SEARCHING, I HAVE NOT FOUND ANY RETAIL DAYTRADER WHO UPON CLAIMING TO BE CONSISTANTLY PROFITABLE, CAN OFFER ANY CONCRETE PROOF OF SUCH. WHY?

Please understand I am strictly speaking about daytrading. Because swing trading and longer term is different, with these longer timeframes, you are rising above the so-called noise. Although if prices are fractal, then it can be argued that the longer term charts are just a greater amount of noise.

ENJOY YOUR HOLIDAYS EVERYONE AND GOD BLESS.

The market being fractal does not mean its all noise. It just means its a chaotic system. At first glance, chaotic systems appear random, but in reality are so incredibly complex it may not be possible (as of right now if ever) to model it. I would recommend you look into some fractal trading systems, and study some rudimentary chaos theory. I don't know how good your math background is but a book that talks about fractal geometry and a little chaos that an undergraduate math, engineering or physics major after their first or second year could start with is :

Amazon.com: Customer Reviews: Fractal Geometry: Mathematical Foundations and Applications

People have been profitable, its just that most aren't wanting to share their secrets since once some "edge" becomes wide spread, many times it stops working. I worked on an account with a couple other people that made pretty significant returns over one year (around 37 percent) before the soon-to-be-retiree investor decided to pull it out and actually retire.

We used money management, stop-loss, take-profit's, etc. However the strategy was trading Forex, and it was before the US reduced leverage and made one use FIFO. Before, we could use hedging on singular currency pairs through the same account. Now the strategy wouldn't work. However, we basically traded using fairly standard indicators as well as support and resistance. There was also a healthy helping of fundamental analysis. I can't take credit for the whole thing because my role was split between a programmer making indicator modifications, etc., and also doing technical analysis and we would reach consensus on our next move. It worked out pretty well since I was a math graduate student at the time, one of my associates has his MBA with undergrad in finance, and our other associate was a biology graduate student with a pretty good background in statistics.


Last edited by Antisyzygy; September 7th, 2011 at 06:40 PM.
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  #206 (permalink)
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bobbyacim View Post
Although I no longer post on this thread and I don't post on ten thousand in education and finally profitable anymore either, I just happen to scan it and say your heart breaking entry.
I need to tell you that there is indeed hope. I am currently profitable!!!!!
all due to a gentleman on this web site who has a lenghy thread where he GIVES away a profitable system and actually setup a FREE trading room for us to watch him trade this amazing system make money.

Please look up cjbooth.

God bless you and YES, hope lives, his name is cjbooth!!

A link helps, if at least to save us the search !

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  #207 (permalink)
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Link-age

Here you go pimp!

search: 'cjbooth'

https://futures.io/forex-currency-trading/10920-my-6e-euro-eur-usd-futures-contract-trading-strategy.html

peace

Hedvig

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  #208 (permalink)
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C-P-B Method

Hi everyone,

I would like to share my C-P-B method (the initials in the method is to honor the giants whom I stand on their shoulders and me, Bobby..LOL) starting in the next 3 weeks if I can achieve the following:

Be consistantly profitable with it so that I can Post my live account trades directly from the broker statement(proof) on a new thread that I will start.

In the mean time, please mirror the same efforts and reference the works of the following two great traders I did in order to get to this point in my trading skill set refinement. So that when I share with you the method, you will hit the ground profitably from the start.

1. Read Charles manual at least twice; print it out and make annotations where something is not clear so you can reference it later.

2. Watch all the videos on his personal web site at least twice.

Charles has real power because remember, he is the only one who has ever claimed to be CONSISTANTLY profitable at daytrading, and allows you to see it right before your eyes!!!!


3. Read PerryG entire thread(there are two now, before is webineer and a new one after)

4. Watch his webineer at least twice, and don't hesitate to freeze and replay any area you not understand.

5 Finally, look and study my "C-P integration" post #1113 on Charles tread.

This is exactly what I did to get up to speed and in order to create this hybrid system I call the C-P-B method.

God willing, I will achieve my goals in a few weeks, after this, I will fully interact with you about where we are today...

Good Luck
Bobby
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  #209 (permalink)
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Learning Curve

Hi Bob,

Now i started to trade in 2004, April i think it was. joined nexgen T3 and spend some money on a lease. This got me started since i didn´t know shit. I blowe my first account in december 2004 thinking i was a mastertrader and my second in 2006. I have read evrything and tried evrything. I stopped trading in the middle of 2008 and started again late 2009. Now it is 2011 and finally i beleive i got something, I say that because i have no feelings at all anymore when i take a trade i is just statistic thinking. For my last 269 trades my bigest looser is 1.1 point and winner 3.4 point.. I am overall 77% profitable and some pure luck weeks over 90. Some howe today i have to force my self trading since i now think it is booring. I usually watch a movie or something waiting for my setups and when they come i take them all. I am about to fund my account again. I have thought lately traded live at so called low budget 5 barrel program an actually runned that up to be able to partly fund a real account. That is if i can get my money out it could be a scam, hehe. I beleive that here on Big Mikes Forum there is many profitable traders since i know that what they are doing works. I only know one person in my home town that trades for a living. He is renting since 6 years back some officespace at a company i am buying services from and i have been in his trading room and he loves it. Howe ever he have lost big in stocks and won smaller for 15 years but are still making really good living from it. I will problaby never be able to do what he is doing keeping track of evrything news, reports, orderstocks who is buying ,etc etc. So i just trade CL and some time TF where you don´t need that stuff but we have all different ways to get confimation of why this trade has a good precentage to work in your favour. Offcourse the goel is to be able to make a living from trading for many. However my goal is to make an extra income since i enjoy my work to much and life is to short and there is many things to learn and experiance out there that can not be learned infront of a screen.

I am currently in China which is quite interesting howeever stay away from the local spirits if you ever go here it is li pure poison and will make you sick for day´s. But as you se from this post trading is always on my mind .



Trading rule nr1

Dont start trading live until you have a long history of high percentage wins with no cheating.

Cheating nr 1. Pyramiding your losses in any form.

I am problaby the biggest papertrading cheater there is. It took me years to overcome just this.

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  #210 (permalink)
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I know what you mean. I had started "pyramiding" paper trades instead of accepting stop losses at one point in my simu trading. Then it became a bad habit. And I did it twice on live, and that was all it took to take a severe damaging blow to my live account. The first time it worked, the second time it didn't. Hopefully this is a psychological lesson learned as I've realized pyramiding turns the odds more into gambling odds.

I had seen this pyramiding from a trading room "instructor"/host earlier in my trading education. When he got into a bad trade (about half the time) he would keep adding another contract as it went against him and would say "do as I say, not as I do!" as he was kind of a joker. Then next week he would say his position got back to even after 14 more hours. It was probably a demo account and I don't frequent that room anymore.

Since then I've forced myself to take my stop losses on practice sim sessions, and take that as a barometer of my poor trading if it occurred too often.

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