Your own HOLY Grail (and how you know youve found it) - Page 2
Page 2 of 502 FirstFirst 1 2
Results 11 to 18 of 18

Thread: Your own HOLY Grail (and how you know youve found it)

  1. #11
    Quote Originally Posted by ;
    The nature of trading and markets generally isn't the surroundings a type 1 would generally seek out. I know quite a couple of type 1 personalities and when I approached them regarding trading they all said no. Too risky. These are big time commercial property developers.

    Seriously though, by a risk stand point the 1 man said in the end of the day that I can see/touch/stand on my investment. I can be directly involved with the process of the egy, implementation, of the project hands on and make an impact. With markets I can plan a commerce...
    Agree 100% The type 1 personalities are extremely risk averse which I feel the best traders/invertsors need to be. Take Buffet such as with his quote:

    Quote Originally Posted by ;
    Rule #1 - never drop cash
    Rule #2 - Never forget rule #1
    I'm at the type 2 camp as well and also the shift came when I realised, approved and acted on how the reply to my becoming profitable was internal not external. Anyone who can make money on a demo but can't on live need to recognise this too - what's the difference between demo and live? The answer to that question is the area that requires the work not the holy grail system.

    Sort 3 individuals in my personal opinion aren't suited to any entrepreneurial venture that involves patience, work and resilience. They consider get rich quick exists whether it is in FX, online marketing, peny stocks, MLM, no money down property etc etc.. They will keep buying the red sales messages and leap into somehting else whe they do not see rapid outcomes.

    Just my 2c

  2. #12
    I never believed that I had to work in my mindset to be profitable. I knew that when I am losing over an elongated period of time, its because my approaches had been just the regurgitated thoughts of what majority of individuals use. In trading, it doesnt make sense to utilize taht if I'm trying to profit. It goes back to the notion of zero sum marketplace

    I began to focus on the hard questions early on just like what's my edge? , how does my system exploit market/trader ineffiencies? Why should my system ends in profit over others? etc..

    To me the the simplest thing to work on is mindset..but having a sustained edge in the market is difficult and requires years of work.

  3. #13
    Quote Originally Posted by ;
    I never thought that I had to work on my mindset to be profitable. I knew that if I am losing over an elongated time period, its because my approaches had been only the regurgitated thoughts of what majority of people use. So in trading, it doesnt make sense to use taht if I am attempting to profit. It goes back to this notion of zero amount marketplace

    I began to focus on the difficult questions early on like what's my edge? , how does my system harness market/trader ineffiencies? Why should my system results in profit over the others? etc..

    To me...
    FWIW, I agree that it's important to get the method sorted. To say the obvious: without some kind of formal plan, the trader doesn't have any frame to stay disciplined to.

    Plogy is a no-brainer, in that it's an existential as opposed to an intellectual issue. Nonetheless, it's surprising the degree to which the P/L of this current, or current trades, can play on our heads, as we make trading decisions. Another important reason for having that proper plan.

    I had an essay on trading plogy, so that I wrote a few months ago, printed http://www.forex-fx-4x.com/trading-p...e-methodology/, which explains the above in more detail.
    There's also a superb post on the topic from topherhk88 here.

  4. #14
    Quote Originally Posted by ;
    quote ... To state the obvious: without some type of formal egy, the trader has no frame to stay disciplined to. Plogy is a no-brainer, in that it's an existential rather than an intellectual issue. ... Another significant reason for having that formal plan. I had an essay on trading plogy, so that I wrote several months ago, published http://www.forex-fx-4x.com/trading-p...e-methodology/, that explains the above in more detail.
    One word - Bollocks.

    (Sorry, but it is only that I can only read so much of the stuff and it just has got the hackles on the back of my neck standing up. )

    I have a rough idea of a Strategy. I have approximate entrance points and I determine when to take some of a transaction off (to realise small profits - you know, bank it) and also a general idea of when to take off it (generally when I believe my trade is shedding legs and I have dropped X percent of potential profits). When it works, it works very, very well. When it does not, I need to hedge a bit or require a small loser off (offset normally by a different transaction thats in a slightly better profit to offset).

    Compare exactly what I just said to this (from the linked article) - however, this is unconditionally based on the prior steps: establishing definitive rules for entrances, exits and trade size that are based round non-random price behavior; and absolute statistical assurance that these rules deliver a winning edge.


    No, the edge is being smart enough to know that you don't have to overthink it. I watch Ichimoku (but could function as MA's, etc) onto a range of TF's. I base my entrances on 1 hr..but starting to shift to 2hr. But damned if the 15min does not give me a whiff of well, no time like the present to enter a trade, provided that there is some general affirmation all the way up to weekly (e.g. weekly may just be turning the corner, daily is pushing into or through the cloud and H4 has only peaked, turned, and about to or has started retrace).

    So please, please can people stop being so damned DEFINITIVE about some type of empirical, scientifically analysed, mind-blowingly hard, overly precise calculations for lot size, entrances and exits. Please!

    This is NOT Needed. At all. I guarantee.

    And eliminating stops was the true holy grail for me (I only had to throw that in there). HG is learning that what I stated is true and it is NOT some kind of system/egy. It's knowing it is as easy as you believe it is and approximate because it seems - know one knows where's it going, but utilize the price moves and indiors to give you a sense of direction. That's it.

  5. #15
    Quote Originally Posted by ;
    One word - Bollocks. .... I can only read so much of this stuff and it just gets the hackles on the back of my neck standing up.
    Fair enough. Sorry if my post made you mad.

    I composed the connected material a couple of years back. I just re-read it, and it makes good sense to me. The topherhk88 article is exceptional IMO.

    Let us just agree to disagree.

  6. #16
    I'm trying very difficult to be trader type 1, however I do not always succeed. I can't say that I have found any kind of Holy Grail.

  7. #17
    Quote Originally Posted by ;
    To me the the simplest thing to utilize is mindset..but with a continued advantage in the market is tough and requires years of work.
    I state the reverse. Beating the spread is easy to do but only in the event that you have the ideal mindset and that requires years of work to achieve.

    Im not interested in arguing the point but I do find it interesting that entirely contrary beliefs are held and I accept that yours perform for nicely for you.

    It usually means that

    either one of us is wrong or,

    that there's not any reality except what we make for ourselves and therefore both beliefs may result in profitability

    heres an idea - you show me how you readily attain a profitable attitude and ill show you how I easily beat the spread. This way we can Eliminate the difficult work aspect of each others belief systems

  8. #18
    Simple system isn't for me...

    yes I do develop a method, but for additional will stated too much indiors.

    That's reason I don't need to talk about to make people perplexing.

    Yes I belong to sort two.

    In reality. If you are certain where trend is going why not risk more.

    Bottom line, if you see the chart and you can stating what could you do with your own system to find the entry sign. You have the system you need.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. Read more.