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Steve, thanks for bringing that post back to my attention. I concur that Ubeee is an underrated poster, at thinking outside of the box, brilliant. Reading between his lines, I anticipate that he's also a trader. It is a shame that he hasn't posted since last August.Originally Posted by ;
Re-reading the ribbon, it makes me realize that I've come a long way in 12 months. 1 post where I stated that I believed S/R was an'evil scam', LOL - I respect it these days.
David
Fantastic work on part in this thread.
Could we only ask to the board just how a lot of you are traders making money to pay the bills (mortgage, automobile, electrical, water, food, etc..) By trading. Not selling any cd, publication, system or web site membership.
You wake up in the daytime and exchange just like you are going to do the job.
I'd love to learn who does it day in and day out with such consistency. I've done it for over a two year time period. Because I didn't enjoy the life style of carpet commuting, we stopped. I did not like being alone and a tv day in and day out. And when we left trading we left with money not being broke.
I trade but I have a daytime job.
I trade for a living. However, the bills I pay are minimum. I made it a point to repay any other loans, home, and my cars I had before my afternoon job, ditching. Life is that way.
Nuck: might be the very best screen name ever. Just wanted to agree with you. . .getting about ourselves is the toughest. Some traders can determine any move on a chart, but get them to execute as they know they need to and you suddenly have a whole different trader. Always great to learn your limits and strengths. I know I'm not one to hold trades for longer then a trading session. When I figured out that I started to improve.
Great article guys!
Mistakes after your system don't exist, they are only the cost of opportunity.
An investment on your eduion indeed. Fantastic point.
Quite good, takes time...
A lot of traders don't want to think exactly how much Luck plays with a hand into their profitable egies. I'll be the first to admit, some of my profits created was by pure, blind chance. Actually, you may blame my Luck on those losing streaks we all encounters. Not to believe in Luck, while trading a market we have NO control over; let alone not knowing whats is blind ignorance about the traders area.
In a market where control is given to only a handful of individuals, retail traders are bound to lose, maybe not nescesarily by trading mistakes; but from the market's non-transparent nature. Say what you would like about the stock market, it is a regulated market that retains some price that is translucent.
Should you THINK about the market, technically there's no wrong or right response. There is not any response. There for, no right/wrong answers. The only real thing we traders have on our side and have control over is Risk. Nothing more nothing less. If traders would start focusing on handling what they do have control over and not answering the question of what they don't have control over... you would find a lot more profitable traders.
The trader with the most indiors and physics based, complied system; is a trader that's answering a question no one knows of haven't a clue about. All these are the traders who are fearful and haven't grasp any advice or knowledge on how the market works. All these will be the 95 percentiles that statistically, we hear so much about.
Mistake made: once there was no sign from the computer system, Take a trade.
Mistake created: Not carrying a trade once the system signaled it.
Are those the only mistakes?
A lot of traders do not want to believe how much Luck plays with a hand in their profitable egies.
What is luck?
Can it be when preparation meets opportunity?
Luck exist only in hindsight.
Can you feel lucky?
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