goat68 wrote: ↑Fri Nov 20, 2020 3:26 pmIn school I had a teacher...!Trader Pat wrote: ↑Fri Nov 20, 2020 3:23 pmgoat68 wrote: ↑Fri Nov 20, 2020 2:53 pmThis discussion does make me think:
- xtrader16 being at this 5years and still not profitable
- morbius knows tons of theory and still not profitable
- if there was some simple metric(s) that told you which way a market is going to trade everyone would be using it..., Therefore there isn't one!
- everyone says follow a plan, but if you can't define anything tangible that gives you a market indication, then a plan is going to be hard to realize
- so you can't trade using something tangible, therefore you trade on instinct, gut feel, most likely from experience
- if you don't have years of experience to base your instinctive trades on then you're basically guessing...
- Therefore goat is currently guessing
Nobody ever said there was a simple metric for trading, but reading back on this thread and looking at some of the advice offered makes it sound over simplistic from a technical point of view. I've seen a lot of advice along the lines of "If a runners price comes into 'X' then do 'Y'" or "If near a crossover then do X,Y,Z..." I've seen very little advice talking about what other runners in the market are doing. In my experience and I'm sure its the same for most traders, when I talk about patterns repeating in the market in most cases I'm not talking about patterns on individual runners but rather patterns of the market as a whole, how different runners interact with each other is paramount. Opening a market and seeing something drifting and jumping on the back of that isn't trading its gambling and that leads to break even results at best. You have to be asking yourself if the drift is likely to continue before getting on board, how you answer that question is dependent on what other runners in the market are doing. Spend some time trying to take in what the other runners are doing in the market and not just having a tunnel vision approach on the runner you're trading.
For me it's like when you were in school and preparing for a test. Did you do just enough so that you would pass the test or did you make a conscious effort to understand the topic. There's a massive difference between the two.
Teachers are there to guide students, not to hold their hand and do the work for them. Some students work harder than others even though they have the same teacher, the ones who don't put the effort in can't then complain that the teacher didn't do their job.
Seems to me goat that you're still looking for a shortcut and you're not willing to leave every stone unturned to crack this. I and others have asked you if you were recording your trades and you just ignore the question so I would take that as a no. If you were to do that then things would start to make more sense as you can review your trades back whitout any emotion attached to what you're seeing.