The ideas that I trade by:

[TheRumpledOne]

I can tell from your response that your view of the market is very over simplified. Volume is always important. Without volume price does not change at all.

Yes. My view of the market is simple. People complicate trading. Wait, Buy, Wait, Sell, Repeat. That's it - SIMPLE!

You are correct if there is no supply, you can't buy. But forex is not a thinly traded market now, it is?

The map is not the territory. The chart is not the market.

So we are able to solve your issue....
Charts don't exist
Price is the same on any chart
Time is irrelevant
Volume doesn't matter
OPM isn't real

With this belief structure you can't possibly understand what MO is doing and possibly never will.

The thing is....if you are profitable then you don't ever need to understand MO. It took me a long time to understand maybe 85% of his ideas.

My belief is that price, volume, and time all have their place in the markets. Charts are a visual representation of this data and OPM is what you make of it.

Oh you did ask me a question. No forex is not a thinly traded market and we'll leave it at that.

Please be careful and quote me exactly. Changing words change meaning.

Never said "charts don't exist".

OPM is a dangerous way to view things. When I close a trade and book the profit. That money is MY MONEY and NOT OPM. I am not then "gambling with house money". Any trades I take are taken with MY MONEY at risk. Much has been written about this fallacious way of thinking about "house money".

It is NOT a "belief structure". I base what I do in REALITY not concepts. Do not mistake the map for the territory.

[TheRumpledOne]

2.3 The House Money Effect

The third factor, that can affect decision making for gamblers as well as investors is the
house money effect as first described by Thaler and Johnson (1990). They state that decision makers
are influenced by outcomes of previous decisions. From this Thaler and Johnson derive the house
money effect. The term house money effect comes from casinos. To understand this, first he
phenomenon of mental accounting has to be understood. Thaler and Sunstein (2009) define mental
accounting as “adopting internal control systems.” Mental accounting is the system that is used to
evaluate, regulate and process budgets. Gamblers in casinos also use mental accounting. Often they
have an initial budget of their own money, say 1000 dollars. With this budget they are willing to take
a certain amount of risk. If they win money by gambling, for example 200 dollars, they refer to these
200 dollars as house money. To this house money they assign another (higher) risk limit than to their
initial own budget. This is a clear example of mental accounting. The house money means that
people are willing to take more risks if they have won money on previous occasions. This house
money effect differs from the hot hand and the gambler’s fallacy in the way that it does not really
affect people’s perceived probabilities, but more the willingness to take risks, coming from mental
accounting.

http://arno.uvt.nl/show.cgi?fid=122725

[TheRumpledOne]

3. The House Money Effect.

The house money effect is a myth that causes people to be much more careless
with money they received by any means other than their own hard work, whether it be stock market earnings,
gambling or home appreciation. The old billboard which read: Your House is Not a Retirement Plan calls out one
formerly common manifestation of the house money effect, wherein people expected to use their home equity as
a windfall to fund their retirement. While some Americans certainly were able to sell their California homes and
use the proceeds to live high on the hog in a small Texas town, I think we all know how this risky “retirement plan”
turned out for the rest of us.
The house money effect also makes it more likely that you’ll take one financial risk after you have closed out a
previous risk at a profit. This is fallacious, since the risk is not lower just because lightning did not strike the last
time you golfed in a storm. It’s also related to overconfidence, as many investors who make money after a risky
venture start to believe that their it was their own smarts that prevented them from taking a hit, which they believe
may help them avoid the risk next time, too.
Overcoming the house money effect is critical for those making frequent stock trades and other major investment
moves — the more money you earn, the easier it is to take risks with it, as it may not feel like it’s truly yours.
Kenny Rogers said it best — not only do you need to know when to hold ‘em, to be smart with your money, you
also need to know “when to fold ‘em — know when to walk away, and know when to run!”



https://www.ccutx.org/pdf/12-16-10-five-money-myths.pdf

[TheRumpledOne]

Gambling with the house money and trying to break even


https://www0.gsb.columbia.edu/mygsb/fac ... ohnson.pdf

[John S.]

Funny you mentioned market profile. I am thinking of adding market profile to the TRO2017_TRO_DASHBOARD.

TRO,

I'm a bit worried about you........
I hope that you realize that Market Profile isn't exactly horizontal lines, nor is it the self proclaimed almighty one's self annointed and blessed specific geometric shapes or "magical" angles.

But your post gives me a glimmer of hope that this board might progress out of the dark ages and allow some other poster opinions for a change without threat of being banned or censored.

Kind regards,
John

Please do not worry about me.


Banning happens when someone is DISRESPECTFUL.

I've never been rude or disrepectiul, but have been threatened several times with being banned.

Have I used humor to disagree with something? Yes! Have I stated an opinion contrary to moderators concepts? Yes!

BUT, I've been censored simply for disagreeing with a certain moderator's concepts.

When,and if, this board transitions to Michael Kreliks concept of being "liberal" with thought...it might actually become an open and honest discussion about actual trading.

[aliassmith]

....

[Mira]

Third GU chart with MO angles.

Here I'm trying to divide pattern&breakouts.
Channels look like ovals..

IMG_1886.PNG (89.39 KiB) Viewed 3417 times

[aliassmith]

Gambling with the house money and trying to break even


https://www0.gsb.columbia.edu/mygsb/fac ... ohnson.pdf

I understand what you are saying. The thing is I have seen OPM work well in trading models and in my own manual trading. Risk management is a fundamental aspect of trading in my opinion and must be respected no matter what tools you employ.

[John S.]

Please do not worry about me.


Banning happens when someone is DISRESPECTFUL.

I've never been rude or disrepectiul, but have been threatened several times with being banned.

Have I used humor to disagree with something? Yes! Have I stated an opinion contrary to moderators concepts? Yes!

BUT, I've been censored simply for disagreeing with a certain moderator's concepts.

When,and if, this board transitions to Michael Kreliks concept of being "liberal" with thought...it might actually become an open and honest discussion about actual trading.

John,

Its hard to take you serious. Your first impression is only disagreeing with basically everything on this forum. Its just like walking into someones home and complaining about how the decorated it.

If you are not here to learn and you are not here to share then you must be here to cause problems.

Interact in a positive way and share some trading ideas and if you get banned for that I will be the first one to stand up for you.

TRO has been banned from just about everywhere because his trading ideas were not the main stream way.I respect what TRO has done for the trading community even tho we don't agree on everything.

I don't care if you take me seriously or not........lmao.

Yes, I basically disagree with a lot of stuff posted on this forum. Why is that a problem for you?

There are at least two traders that have been on this forum for years and have followed a certain moderator (won't say who he is for obvious reasons......lmao), and they admit, they are still not profitable. Why is that?

I''ve shared a LOT. Please go back and read my posts. You obviously have not done that.

I trade my way because it makes money......and I encourage for other traders to do the same.

And why did one moderator censor one of my posts? I think it's because he cannot defend his position.......and has an extremely fragile ego. If you want to defend why he censored me, please do so. I'd LOVE to hear it.

[aliassmith]

I've never been rude or disrepectiul, but have been threatened several times with being banned.

Have I used humor to disagree with something? Yes! Have I stated an opinion contrary to moderators concepts? Yes!

BUT, I've been censored simply for disagreeing with a certain moderator's concepts.

When,and if, this board transitions to Michael Kreliks concept of being "liberal" with thought...it might actually become an open and honest discussion about actual trading.

John,

Its hard to take you serious. Your first impression is only disagreeing with basically everything on this forum. Its just like walking into someones home and complaining about how the decorated it.

If you are not here to learn and you are not here to share then you must be here to cause problems.

Interact in a positive way and share some trading ideas and if you get banned for that I will be the first one to stand up for you.

TRO has been banned from just about everywhere because his trading ideas were not the main stream way.I respect what TRO has done for the trading community even tho we don't agree on everything.

I don't care if you take me seriously or not........lmao.

Yes, I basically disagree with a lot of stuff posted on this forum. Why is that a problem for you?

There are at least two traders that have been on this forum for years and have followed a certain moderator (won't say who he is for obvious reasons......lmao), and they admit, they are still not profitable. Why is that?

I''ve shared a LOT. Please go back and read my posts. You obviously have not done that.

I trade my way because it makes money......and I encourage for other traders to do the same.

And why did one moderator censor one of my posts? I think it's because he cannot defend his position.......and has an extremely fragile ego. If you want to defend why he censored me, please do so. I'd LOVE to hear it.

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