Some food for thought
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Thread: Some food for thought

  1. #1
    I browse these on a different forum, here these two stories translated and are paraphrased with me.

    Some time ago I have done this experiment (with parents consent). I taught his 10 year old son theories of candle evaluation and taught him the most candlestick reverals patterns. I completed this as a debate with his father who lives in the USA about that you do not have to know over the most basic MM and a number of candles, in 2month his son will be in pluses trading stocks. I have recommended his son doesn't study ANY FA or TA. His father gave his son 10k. Guess what, after a month son's accounts has risen by 50% by using a leverage of 1:1-1:2 on stocks while the father barely improved his accounts by 2%... Now father's wife constantly bugs her husband ”Even our 10 year old.... ?

    Another narrative.

    ”I trade on Forex nearly two years with fluctuating success, possibly because I'm analyzing too much. This idea was brought to me from my Wife from a really interesting situation...Half per year ago I was awaiting information to get there. I read a lot of literature on FA, I analysed the trend through TA and my opinion of the future transfer was 80-90% sure. Till the information arrive 5 Minutes remained. I was awaiting my wife was in the kitchen. I don't recall why, but she came to me from behind and looked at the screen. ”Oh the cost will go up ” she said. I smiled politely and advised her to visit the kitchen as this is trading, it's not for women's thoughts. I was sure the cost would go down. Many things can occur on Forex. I was wrong... Some time later the situation happened again. I thought this was coincidence, you know, beginners luck... But when this started to occur regularly, even when I was really sure about my outlook, she was ALWAYS accurate. ... My wife likes to whine why I'm not a millionaire yet...”

    In other word, TA and FA could rest!

    Any comments, suggestions?

  2. #2
    Quote Originally Posted by ;
    I read these on a different forum, here these two stories are paraphrased and translated by me.

    A while ago I have done this experiment (with parents agree). I taught his 10 year-old son basic theories of candle analysis and taught him the most common candlestick reverals patterns. I completed this as a debate with his father who resides in the USA about that you don't have to understand more than the most elementary MM and some candles, within 2month his son will probably be in pluses trading stocks. I have recommended his son doesn't study ANY FA or TA. 10k was given his son by his father. Guess what, after two month son's account has risen by 50% using a leverage of 1:1-1:2 on stocks while the father barely improved his account by 2%... Now father's wife constantly strikes her husband ”Even our 10 year old.... ?

    Still another narrative.

    ”I trade on Forex almost two years with varying success, maybe because I'm analyzing a lot of. This thought was brought to me from my Wife from a very intriguing situation...Half per year ago I had been waiting for news to arrive. I read a ton of literature on FA, I analysed the trend through TA and my opinion of the upcoming move was 80-90% certain. Till the news arrive 5 Minutes stayed. I had been awaiting my wife was in the kitchen. I really don't recall why, but she came to me from behind and looked at the screen. ”Oh the price will go up right now” she said. I smiled politely and advised her to visit the kitchen as this can be trading, it's not right for women's mind. I had been sure the price would go down. Many things can occur on Forex. I was wrong... A while after the scenario happened. I thought this was coincidence, you understand, beginners luck... However, when this began to occur regularly, even when I had been really sure about my outlook, she was ALWAYS accurate. ... My wife likes to whine why I'm not a millionaire yet...”

    Quite simply, TA and FA can break!

    Any remarks, suggestions?
    Fanat, I've got a similar story that happened in the late 70s. Silver was the hot thing at the time and I had been getting my feet wet (or should I say burnt) in the silver products market. My broker suggested. It sure sounded like a great idea as this was my introduction to trading. I began with $5k and ended a few weeks later with roughly $700. The thing I remember the most about this is when my broker recommended I enter my day trade in 1 direction my wife would tell me to enter a contract another direction. The one thing she knew about trading was I had been losing. She had been correct every time.

    Notice: I don't advise trading this manner.

  3. #3
    In my view, I believe this is a very dangerous thing for the beginner...

    I only feel it is only going to encourage one to anticipate that trading is easy...
    And such announcements may tend for one to think he's bigger than the marketplace...

    But based on one of those interviews at the New Market Wizards (the one J.Schwager did not mention the interviewee's name), that it is possible to trade based on instinct. . BUT! And also a BIG BUTT! Oooppps. . I mean a very BIG BUT!

    Trading instincts are not learned within a day, in my view again... But instead, it's learned through continuous experience and continuous flow with the marketplace...

    So to create those instincts, I believe the actions indied by Mark Douglas in his book Trading in the Zone is very substantially the measures a new dealer must follow. . Which are:

    1) Mechanical Trading
    2) Subjective Trading
    3) Instinctive Trading

    Again, only my humble opinions...

    Regards,
    East

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