Everything you'll ever need to know about trading is right here

[John S.]

I see so many people on Kreslik and other boards that are wasting their time trying to learn "stuff" that has absolutely NOTHING to do with trading profitably.

Everything you'll ever need to know about trading is right here:

When price is going up - you go long.

When price is going down - you go short.

When your premise is broken you get out.

Add in common sense money management and that's it!

That's EVERYTHING you need to know about trading. Everything else is just noise.......just nonsense to sell something (indicators, webinars, systems, strategies, education, etc.) or feed somebody's fragile ego.

[TheRumpledOne]

ALL YOU NEED TO KNOW ABOUT TRADING

* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* POSITION SIZE = RISK / STOP LOSS.
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.

Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)

You cannot control the probabilities of wining or losing.

You cannot control your average win size.

The only part of the equation that you can control is your average loss size.

PRICE ACTION

“Now, 2 patterns of market behavior happen on a regular basis:

1) the price breaks to new high's (or low's)

2) the price reverses from new high's (or low's)

They happen regardless of time frame .

They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

1) Price will either breakout of the high, low or both of the previous bar

2) Price will not breakout of the previous bar.

You cannot reduce it any further. Anything else complicates the issue.

ENTERING A TRADE

You either decide to:

1) Wait and do not enter a trade

2) Trade a breakout

3) Trade a reversal.

Those are your ONLY 3 options.

That is all you need to know about trading.

[John S.]

I see so many people on Kreslik and other boards that are wasting their time trying to learn "stuff" that has absolutely NOTHING to do with trading profitably.

Everything you'll ever need to know about trading is right here:

When price is going up - you go long.

When price is going down - you go short.

When your premise is broken you get out.

Add in common sense money management and that's it!

That's EVERYTHING you need to know about trading. Everything else is just noise.......just nonsense to sell something (indicators, webinars, systems, strategies, education, etc.) or feed somebody's fragile ego.

A couple of charts for you today:

"When price is going up - you go long."

long.jpg (95.28 KiB) Viewed 5258 times

"When price is going down - you go short."

short.jpg (101.75 KiB) Viewed 5258 times

I hope everyone in the U.S. has a great Fourth of July holiday. And Happy Birthday America!

[dchappy]

I can agree with most of that ,however don't you agree that price forms recognizable patterns .? Some indicators are helpful in revealing those patterns ...IMHO ..

[TheRumpledOne]

I see so many people on Kreslik and other boards that are wasting their time trying to learn "stuff" that has absolutely NOTHING to do with trading profitably.

Everything you'll ever need to know about trading is right here:

When price is going up - you go long.

When price is going down - you go short.

When your premise is broken you get out.

Add in common sense money management and that's it!

That's EVERYTHING you need to know about trading. Everything else is just noise.......just nonsense to sell something (indicators, webinars, systems, strategies, education, etc.) or feed somebody's fragile ego.

A couple of charts for you today:

"When price is going up - you go long."

long.jpg


"When price is going down - you go short."

short.jpg

I hope everyone in the U.S. has a great Fourth of July holiday. And Happy Birthday America!

Now mark on a chart (the rightmost candle) when you claim price is going up, and then let's revisit that chart in a week, month. Do the same for price going down.

[John S.]

I can agree with most of that ,however don't you agree that price forms recognizable patterns .? Some indicators are helpful in revealing those patterns ...IMHO ..

Hey dchappy,

Glad you posted in my thread.

I've followed your "Simple as 1-2-3" thread since the early days, and enjoy reading your posts. I highly respect your method because it's extremely simple, which to me shows great intelligence and maturity as a trader. It's a very teachable methodology.

Yes I do agree with the concept that patterns tend to repeat themselves and that can be utilized to increase a trader's edge. The 1-2-3- pattern that you use obviously can be seen multiple times on both charts I posted above. Heck, I'm sure you've been using that pattern so long, you probably don't even have to draw them on your chart to take profitable trades. The 1-2-3 is fairly measurable, i.e. objective, so it can be tested for potential profitability, which a lot of methods are not.

Indicators can be used to measure certain things or as a filter IMO, but most traders have no idea how to properly use them - and quite honestly, most of the best traders I know don't use them - they use basic, simple price action.

Look forward to more of your insight dchappy.

Kind regards,
John

[TheRumpledOne]

I see so many people on Kreslik and other boards that are wasting their time trying to learn "stuff" that has absolutely NOTHING to do with trading profitably.

Everything you'll ever need to know about trading is right here:

When price is going up - you go long.

When price is going down - you go short.

When your premise is broken you get out.

Add in common sense money management and that's it!

That's EVERYTHING you need to know about trading. Everything else is just noise.......just nonsense to sell something (indicators, webinars, systems, strategies, education, etc.) or feed somebody's fragile ego.

A couple of charts for you today:

"When price is going up - you go long."

long.jpg


"When price is going down - you go short."

short.jpg

I hope everyone in the U.S. has a great Fourth of July holiday. And Happy Birthday America!

Now mark on a chart (the rightmost candle) when you claim price is going up, and then let's revisit that chart in a week, month. Do the same for price going down.

WAITING FOR JOHN S. TO REPLY.

[v8power]

usdchf-d1-fx-choice-limited.png (28.71 KiB) Viewed 4898 times

usdchf-d1-fx-choice-limited-2.png (31.27 KiB) Viewed 4898 times

usdchf-d1-fx-choice-limited-3.png (31.08 KiB) Viewed 4898 times

usdchf-d1-fx-choice-limited-4.png (33.55 KiB) Viewed 4898 times

usdchf-d1-fx-choice-limited-5.png (35.61 KiB) Viewed 4898 times

usdchf-d1-fx-choice-limited-6.png (41.56 KiB) Viewed 4898 times

[v8power]

HAHA. Don't get your panties in a bunch Im just messing with ya Johnny boy.

But Im with TRO lets see it in real time.

Here is a Longterm GJ trade I took when price was going up.

gbpjpy-d1-fx-choice-limited.png (46.32 KiB) Viewed 4897 times

gbpjpy-h1-fx-choice-limited.png (44.52 KiB) Viewed 4897 times

If price closes above that resistance line tho then Im all about buying high.

[TheRumpledOne]

I see so many people on Kreslik and other boards that are wasting their time trying to learn "stuff" that has absolutely NOTHING to do with trading profitably.

Everything you'll ever need to know about trading is right here:

When price is going up - you go long.

When price is going down - you go short.

When your premise is broken you get out.

Add in common sense money management and that's it!

That's EVERYTHING you need to know about trading. Everything else is just noise.......just nonsense to sell something (indicators, webinars, systems, strategies, education, etc.) or feed somebody's fragile ego.

A couple of charts for you today:

"When price is going up - you go long."

long.jpg


"When price is going down - you go short."

short.jpg

I hope everyone in the U.S. has a great Fourth of July holiday. And Happy Birthday America!

Now mark on a chart (the rightmost candle) when you claim price is going up, and then let's revisit that chart in a week, month. Do the same for price going down.

Still waiting!!