2009.05.16 WHY 95% OF TRADERS FAIL - PART II

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TheRumpledOne
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2009.05.16 WHY 95% OF TRADERS FAIL - PART II

Postby TheRumpledOne » Sun May 17, 2009 2:14 am

2009.05.16 WHY 95% OF TRADERS FAIL - PART II

David vs. Goliath. That must be what you are thinking when you enter the trading arena. You have some "hot indicator" that you found or coded and you are ready to take on the giant and show the trading world what you're made of. Actually, what happens is more like Bambi meets Godzilla!! You get crushed in a very short period of time.

Is it your fault? You read the books. You back tested your system. You traded on demo. Then after you felt enough confidence, you funded your account and entered your first trade. Why oh why does the market always reverse right after I enter? Sound familiar?

What if just about everything you were taught was "wrong", "backwards" or "upside down"? What if you were (deliberately) handicapped from the start? What if all the "gurus" are the "blind leading the blind"?

I am sure you have read that you need to "learn how the markets work". But where can you find this important information? Why don't they just give it to you? You begin to wonder, does it really exist?

Some traders say that M1 and M5 are just noise and you need to trade on H1. Others say D1. And still others only look at W1. Who's right? Then some say you have to look at multiple time frames. Who should you believe or follow?

What if you have all of the pieces to the puzzle but can't get it put together? What next?

I sometimes think there are a few people, THE PUPPET MASTERS, who are pulling the strings. THE PUPPET MASTERS are the ones in charge and people like the President of the US and other heads of state jump when they jump. I think THE PUPPET MASTERS meet from time to time to laugh their (_*_)s off at the rest of the world. That's just how I feel about it. But deep down I really don't believe it.

The market doesn't even know that you or I exist. We're small fries. And those people who teach don't really know that much more than the rest of us. They huff and puff but when someone like me comes along and pulls down the curtain of OZ, the result is banishment. But I digress.

THE REASON 95% OF FOREX TRADERS LOSE IS BECAUSE THEY ARE LOOKING AT THE WRONG THINGS. And I do NOT mean time frames or SQUIGGLY LINE indicators. There are entities that are moving hundreds of millions or billions of dollars at a time. Do you think they have some special, magic MACD numbers? How can you expect to successfully trade the GBPUSD if you don't know what GBPJPY and GBPCHF are doing at the same time? Just when you thought GBPJPY had bottomed and entered long, IT TANKS ANOTHER 100+ PIPS. If only you had checked the other currencies!!

Price moves for a reason. DO YOU KNOW WHY PRICE MOVES? You read and talk about support and resistance but do you really understand what causes support and resistance? Do you think support or resistance are lines on a chart? If you look at the GBPUSD, GBPCHF and GBPJPY charts, you may see them moving in the same direction or opposite directions. What would you do in each case? Wait or enter? Does anyone teach you to do that? If not, why not? Are they keeping this information from you on purpose?

TO BE CONTINUED...
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby WedWed » Sun May 17, 2009 6:42 am

Please continued ... i cant wait ..

thanx to make trading easy for me.

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Why 95% of traders fail

Postby jswest » Sun May 17, 2009 1:15 pm

Very interesting indeed. As traders, in the pit, we tend to lose sight of the big picture. Can't wait for the follow-up on this one.

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Postby TheRumpledOne » Sun May 17, 2009 4:44 pm

Come on traders, I have given you the "hints":


THE REASON 95% OF FOREX TRADERS LOSE IS BECAUSE THEY ARE LOOKING AT THE WRONG THINGS.

Doesn't anyone SEE IT, yet?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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Postby razorboy » Sun May 17, 2009 5:54 pm

Yes, well sort of, trying to articulate and operationalize it.......
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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Postby MightyOne » Sun May 17, 2009 6:36 pm

And here all this time I thought it was because they were mentally damaged.

TheRumpledOne wrote:Come on traders, I have given you the "hints":


THE REASON 95% OF FOREX TRADERS LOSE IS BECAUSE THEY ARE LOOKING AT THE WRONG THINGS.

Doesn't anyone SEE IT, yet?

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Postby prochargedmopar » Sun May 17, 2009 6:56 pm

How about just telling me which "other" currencies to watch while I'm trading E/J.

e/u seems to go the same way, slower
u/j most of the time goes opposite, much slower
g/u can and does go either way, slightly faster

Lately I have just been forgetting about the "others" as that just gets me biased and I start hoping.

Maybe I should just check with Dr. S, eh?
Ive read his whole site and from what I get out of it I need to annie up the $3000 for the class and then $300 a month for "signals".

How else do we track the big boys and the big moves?
I know it's not by staring at a M1 chart, that's for sure.
Is it by watching momentum and volatility very closely as M.O. says?
those last two sentences seem to contradict one another. Hmmmmm?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby prochargedmopar » Sun May 17, 2009 7:23 pm

1. Watch the "entities"
2. Watch the strength/weakness of the currency you are trading by comparing it to other currencies pairs.

Question. Why does price move? It appears there are many, many reasons why. To numerous to count. All that really matters is which way it's moving now and for the next hr or so which is probably much harder to "guess" than the next Day, or week.

Tell me why I'm a failure so far.
Please.
So then I can use that to succeed.
+$300ish more and I'll be a "micro" success, at least have all my money back.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby razorboy » Sun May 17, 2009 7:50 pm

MO

This is the basis of your DT concept isnt it.......

I am such an F###ing tool for missing this article......

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Pro

Read this (or re-read it if you read it already)..........

http://www.sfomag.com/article.aspx?ID=1315&issueID=c

Was previously posted by TRO - just rereading things


prochargedmopar wrote:1. Watch the "entities"
2. Watch the strength/weakness of the currency you are trading by comparing it to other currencies pairs.

Question. Why does price move? It appears there are many, many reasons why. To numerous to count. All that really matters is which way it's moving now and for the next hr or so which is probably much harder to "guess" than the next Day, or week.

Tell me why I'm a failure so far.
Please.
So then I can use that to succeed.
+$300ish more and I'll be a "micro" success, at least have all my money back.
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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prochargedmopar
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Postby prochargedmopar » Sun May 17, 2009 8:23 pm

After reading the article:
#1 Where is that histogram TRO made for ATR? LOL (no more indicators please)
#2 Don't over-trade, WAIT.
#3 Just as in jui-jitsu. It is our natural instinct that we must battle against, not our opponent. You would not believe how much our natural reactions are used against us in that fighting game unless you've actually gotten out on the mat yourself and experienced it. A measly purple belt(about 3 yrs exp.) can take out any civilian with ease. I've thrashed guys like a dishrag that were twice my size (over 300#)and much much stronger that were noobs in class. It's actually funny BUT they weren't smiling.
Kinda like me now with the FOREX market. I ain't smilin........but I'm having fun.
#4 pivot points as explained here look kinda like the nobrainertrades.com support and resistance trades. Pinbars maybe? Definitive stops a plus!!!

What did you get out of it Razor?
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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