The ideas that I trade by:

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trueblueTEX
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Postby trueblueTEX » Wed Feb 27, 2013 8:41 pm

MightyOne wrote:
you are free to skip this lesson if you wish :lol:


Oh no, I'm bringing popcorn!

OK, actually pen and a pad of paper; one of those bound journal types!

I'm a believer that this is THE lesson I need to learn but this is where I feel most like the dumb zen student trying to figure out the sound of one-hand clapping.

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TygerKrane
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Postby TygerKrane » Wed Feb 27, 2013 8:50 pm

MightyOne wrote: The panic selling to come, when everyone realizes that the world is not going to end as we know it, makes gold the best option for bears.

...

I am looking forward to $500/$600 an oz over the long term.


So you think the Fed is going to stop devaluing the dollar? :lol:
As soon as they do, a world economic crisis of another kind will arise. #-o

The whole world would have to turn into Zimbabwe first, before the US $ could ever have that much value over gold again.



Image

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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Postby Karma » Wed Feb 27, 2013 9:04 pm

I agree 100% whole heartedly agree with Tyger

That being said, I can see it on the chart and would stand behind MO similarly

I'll be positioned to survive a financial crisis, my money will be made trading the other vehicles
"Profit is found in a thinking mind. If you come to this . . . with pen and paper in hand then you will fail to find the beauty that exists within yourself." - MightyOne

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TygerKrane
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Postby TygerKrane » Wed Feb 27, 2013 9:08 pm

trueblueTEX wrote:I'm a believer that this is THE lesson I need to learn but this is where I feel most like the dumb zen student trying to figure out the sound of one-hand clapping.

If you think this lesson might be THE lesson, you might want to check out (or re-check out) Mark Douglas.

Discretionary Trading will never be 1+1=2 on a consistent basis.

I got a couple of links to Mark Douglas.

Here, however, is a summary of the biggest mentality-changing points I took from him (they may not all apply for you.)

Sure, the lesson as a whole, or a particular post in it may make a lightbulb come on for you, but if that hasn't happened thus far, you might want to reconsider the internal expectations that you have about the markets and your success/failure to perform within them.
Last edited by TygerKrane on Thu Feb 28, 2013 2:16 am, edited 2 times in total.

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trueblueTEX
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Postby trueblueTEX » Wed Feb 27, 2013 9:08 pm

TygerKrane wrote:
MightyOne wrote: The panic selling to come, when everyone realizes that the world is not going to end as we know it, makes gold the best option for bears.

...

I am looking forward to $500/$600 an oz over the long term.


So you think the Fed is going to stop devaluing the dollar? :lol:
As soon as they do, a world economic crisis of another kind will arise. #-o

The whole world would have to turn into Zimbabwe first, before the US $ could ever have that much value over gold again.



Image


I lived in Argentina from '84 to '86. There were 2 currencies in circulation "Pesos Argentinos" and "Pesos Leyes". The old series had 10,000, 50,000, and 100,000 while the "newer" series had 10, 50, 100. The older series was phased out while I was there.

Before I left, a new currency was introduced: the "Austral". 1 Austral = 10,000 of the "NEWER" series.

In the time I was there, Argentina lopped off 3 zeroes from their currency and then 4 more zeroes!!!!!!!!!!!

I got on the bus with an Argentine friend of mine who payed our fair. After paying, he counted up in his head for a minute then told me that he just paid more for our fair than he did for his first house.

It's not Europe I fear becoming like, it is Argentina.

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Postby TygerKrane » Wed Feb 27, 2013 9:12 pm

trueblueTEX wrote:
TygerKrane wrote:
MightyOne wrote: The panic selling to come, when everyone realizes that the world is not going to end as we know it, makes gold the best option for bears.

...

I am looking forward to $500/$600 an oz over the long term.


So you think the Fed is going to stop devaluing the dollar? :lol:
As soon as they do, a world economic crisis of another kind will arise. #-o

The whole world would have to turn into Zimbabwe first, before the US $ could ever have that much value over gold again.



Image


I lived in Argentina from '84 to '86. There were 2 currencies in circulation "Pesos Argentinos" and "Pesos Leyes". The old series had 10,000, 50,000, and 100,000 while the "newer" series had 10, 50, 100. The older series was phased out while I was there.

Before I left, a new currency was introduced: the "Austral". 1 Austral = 10,000 of the "NEWER" series.

In the time I was there, Argentina lopped off 3 zeroes from their currency and then 4 more zeroes!!!!!!!!!!!

I got on the bus with an Argentine friend of mine who payed our fair. After paying, he counted up in his head for a minute then told me that he just paid more for our fair than he did for his first house.

It's not Europe I fear becoming like, it is Argentina.

Where did you get that from? Zimbabwe isn't in Europe :!: :lol:
:smt043 :smt043 :smt043

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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trueblueTEX
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Postby trueblueTEX » Wed Feb 27, 2013 9:13 pm

TygerKrane wrote:
trueblueTEX wrote:I'm a believer that this is THE lesson I need to learn but this is where I feel most like the dumb zen student trying to figure out the sound of one-hand clapping.

If you think this lesson might be THE lesson, you might want to check out (or re-check out) Mark Douglas.

Discretionary Trading will never be 1+1=2 on a consistent basis.

I got a couple of links to Mark Douglas.

Here, however, is a summary of the biggest mentality-changing points I took from him (they may not all apply for you.)

Sure, the lesson as a whole, or a particular post in it may make a lightbulb come on for you, but if that hasn't happened thus far, you might want to reconsider theinternal expectations that you have about the markets and your success/failure to perform within them.


Thanks, Tyger.

However, I'm not sure that the adjective "Discretionary" is needed in your sentence above.

I've read one of Douglas's books and I will explore the posts you are pointing me to.
Thanks!

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trueblueTEX
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Postby trueblueTEX » Wed Feb 27, 2013 9:16 pm

TygerKrane wrote:
trueblueTEX wrote:
TygerKrane wrote:
MightyOne wrote: The panic selling to come, when everyone realizes that the world is not going to end as we know it, makes gold the best option for bears.

...

I am looking forward to $500/$600 an oz over the long term.


So you think the Fed is going to stop devaluing the dollar? :lol:
As soon as they do, a world economic crisis of another kind will arise. #-o

The whole world would have to turn into Zimbabwe first, before the US $ could ever have that much value over gold again.



Image


I lived in Argentina from '84 to '86. There were 2 currencies in circulation "Pesos Argentinos" and "Pesos Leyes". The old series had 10,000, 50,000, and 100,000 while the "newer" series had 10, 50, 100. The older series was phased out while I was there.

Before I left, a new currency was introduced: the "Austral". 1 Austral = 10,000 of the "NEWER" series.

In the time I was there, Argentina lopped off 3 zeroes from their currency and then 4 more zeroes!!!!!!!!!!!

I got on the bus with an Argentine friend of mine who payed our fair. After paying, he counted up in his head for a minute then told me that he just paid more for our fair than he did for his first house.

It's not Europe I fear becoming like, it is Argentina.

Where did you get that from? Zimbabwe isn't in Europe :!: :lol:
:smt043 :smt043 :smt043


NO, I know that. I was one of those who nearly went to Rhodesia "back in the day."!!!

No, I was referring to the fact that so many say we are becoming like Europe. I fear we are becoming like Argentina.

Laws regarding property are cockeyed down there.

Neo88
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Postby Neo88 » Wed Feb 27, 2013 10:18 pm

MightyOne wrote:
Neo88 wrote:What happened to the old fashioned way of picking support and resistance/Zlines or simply liquidity spots; using Momentum,Comparison,Wicks,Top down chart analysis and Mentally combining candles

I still believe this is the basis of trading you can't master trade/space management,stop placement and lot accumulation methods without mastering charting skills first.

Maybe not the best example, I am too still working on my charting skills :)

Image


" ...I am too still working on my charting skills" -Neo88

And that is the problem, you should be working on your money making skills :lol:

Charting is 10% of successful trading.

The two things that are going to make you money are:

1) Position (00)
2) Accumulation

For 1 & 2 you need an idea & this is where the chart comes in.
Your entry is always 00, so your entry price just determines your
initial position size.

If you are heavily focused on technical analysis then you will fail to accumulate and consequently get paid in cow pies.

2013 is the year when I shift your focus from learning about charting to getting paid for trading.

you are free to skip this lesson if you wish :lol:


I know there are many other important elements to trading than technical analysis, that said chart analysis is more like the first thing one should get right so he have a basis to work on and generate ideas for the next two steps: Stop placement and Lot accumulation

So learning curve for a newbie should look like that

1) Chart analysis
2) Position/Stop placement
3) Accumulation techniques
Of course each element has many components

But like you said it is more important to master the last two elements which I've been doing for quite sometime now; especially since I caught much of the parabolic move on the yen but failed to make a killing :lol: No worry though I am now ready with my fib tool and working on compounding the hell out of my positions as I learned some new tricks from you MO :)

Will be hanging around for more of your insights which I appreciate.
A man must believe in himself and his judgment if he expects to make a living at this game. - Jesse Livermore

Neo88
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Postby Neo88 » Wed Feb 27, 2013 10:23 pm

TygerKrane wrote:
Neo88 wrote:Some lines in sand I am looking at in Gold


Image

Why would you choose to trade gold over silver??


It doesn't matter to me, but I guess gold is the leader between metals
A man must believe in himself and his judgment if he expects to make a living at this game. - Jesse Livermore

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