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Flying Dutchman

  • #6,861
  • Mar 18, 2023 2:18pm Mar 18, 2023 2:18pm
Quoting turnip15
I see "Rockypoint" has dropped in. Now he has a thread worth reading for a solid trading approach
Couldnt agree more...
I admit I have been a silent fan of Rocky Point and his thread have popped in and read his thread many times over time ...

Flown over him many many times as well literally

Cheers to Rocky
Master your Mind,,,Master the Market
  • #6,862
  • Mar 18, 2023 2:23pm Mar 18, 2023 2:23pm
Quoting turnip15
I see "Rockypoint" has dropped in. Now he has a thread worth reading for a solid trading approach
More proof there are many ways to beat this beast.
Mark ... Everything you have been told is a LIE
  • #6,863
  • Mar 18, 2023 7:17pm Mar 18, 2023 7:17pm
Quoting turnip15
I see "Rockypoint" has dropped in. Now he has a thread worth reading for a solid trading approach
not that YOU will learn anything
people leave, but this thread will go on for ever
  • #6,864
  • Mar 18, 2023 11:06pm Mar 18, 2023 11:06pm
Inserted Video


Unlike toxic mysticism from alchemists, otherwise known as dogma, this guy gives experienced ( he works with banks in the city ) wisdom anyone might find some benefit from. Without going into detail, like "the candle has no volume" silliness, or "it hasn't been tested" dribble, basic logic from a factual point - yes trend trading doesn't work in a range where MM's and algos might just take your stop out. Trade what you know is right and get better at it. How do you know it's right? That's your research and time finding out - experience the good and bad. Edit: the person is key.

"It's a great thrill to beat the guys in the city.... " he says in another clip. Hehehehe

Cheers...
  • #6,865
  • Mar 19, 2023 12:34am Mar 19, 2023 12:34am
Quoting FocusWinReal
https://www.youtube.com/watch?v=XuQ6pqLoTRs Unlike toxic mysticism from alchemists, otherwise known as dogma, this guy gives experienced ( he works with banks in the city ) wisdom anyone might find some benefit from. Without going into detail, like "the candle has no volume" silliness, or "it hasn't been tested" dribble, basic logic from a factual point - yes trend trading doesn't work in a range where MM's and algos might just take your stop out. Trade what you know is right and get better at it. How do you know it's right? That's your...
Dr David Paul.... Great insights always from him

Master your Mind,,,Master the Market
  • #6,866
  • Mar 19, 2023 12:36am Mar 19, 2023 12:36am
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Master your Mind,,,Master the Market
  • #6,867
  • Edited 2:48am Mar 19, 2023 2:15am | Edited 2:48am
I agreed with Dr. Paul in Divergence, but I really disagree on everything he said in this video, and here is why:

he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market.
he said: "you can't know range(sideway) market unless you are in it", that is not true, by knowing Dow trend stages, the range(sideway) market will start from the first day that does not give you anymore HH/LL.
he said: "clusters of bad and good luck comparing trading to a casino", this is a mindset of a gambler not a trader, again, Dow trend stages will organize the markets for you.

to members who seen the video, please, compare his POV with these 3 examples of 3 different markets using the same DAY direction,Dow,divergence.

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Visually you can see start/end of trends and start/breakout of range.

why would anyone use 50/50 trading style in this kind of reading. it does not make sense when the trend is UP for someone to think 50/50 and sell. with correct reading, it would be impossible to have a cluster of bad hits, one mistake ? maybe, but the rest should be correct with the direction.

with all respect to the Dr. but trading is not a guessing game, you either see a correct reading or you don't trade.

these are extra examples to the same 3 markets showing H4 and weekly direction, just to prove markets are organized.

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cheers,
"the public is not yet ready for it" W.D. GANN
  • #6,868
  • Mar 19, 2023 4:30am Mar 19, 2023 4:30am
Quoting Kwt4x
I agreed with Dr. Paul in Divergence, but I really disagree on everything he said in this video, and here is why: he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market. he said: "you can't know range(sideway) market unless you are in it", that is not true, by knowing Dow trend stages, the range(sideway) market will start from the first day that does not give you anymore HH/LL. he said: "clusters of bad and good luck comparing trading to a casino", this is a mindset of a gambler not...
  • #6,869
  • Mar 19, 2023 8:10am Mar 19, 2023 8:10am
Quoting Kwt4x
I agreed with Dr. Paul in Divergence, but I really disagree on everything he said in this video, and here is why: he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market. he said: "you can't know range(sideway) market unless you are in it", that is not true, by knowing Dow trend stages, the range(sideway) market will start from the first day that does not give you anymore HH/LL. he said: "clusters of bad and good luck comparing trading to a casino", this is a mindset of a gambler not...
For those like me who trade the down and dirty in the here and now that makes perfect sense - simple market structure.
  • #6,870
  • Mar 19, 2023 8:39am Mar 19, 2023 8:39am
Quoting handy148
{quote} For those like me who trade the down and dirty in the here and now that makes perfect sense - simple market structure.
the funny thing is Dow from the 1900's and still works in all markets.

the sad thing is the title of the video "Randomness in the Markets" , when all markets has a range that is always respected.

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cheers,
"the public is not yet ready for it" W.D. GANN
  • #6,871
  • Mar 19, 2023 8:55am Mar 19, 2023 8:55am
Quoting Kwt4x
{quote} the funny thing is Dow from the 1900's and still works in all markets. the sad thing is the title of the video "Randomness in the Markets" , when all markets has a range that is always respected. {image} {image} {image} {image} cheers,
  • #6,872
  • Edited 9:22am Mar 19, 2023 9:03am | Edited 9:22am
Quoting Kwt4x
{quote} the funny thing is Dow from the 1900's and still works in all markets. the sad thing is the title of the video "Randomness in the Markets" , when all markets has a range that is always respected. {image} {image} {image} {image} cheers,
By using this phrase as the header of the video, it is misleading, what he is actually referring to in Randomness of the Markets is the clusters of good & bad results in trading, especially with the low win rates traders have in short term chart trading the Forex.

He is a stock trader principally trading the Daily charts, with win rates above 75%.

Traders in a state of "euphoria" with a series of winning trades, as opposed to "desperation" when the opposite happens with a series of losing trades, with the low win rates. He calls this "hit rate".

He does ramble a bit on the video, I think he is trying to impress the interviewer a little bit too much.

I don't think he is talking about trading a Random Market.

I agree, markets have not changed much, only the technology has, making it more accessible than it was years ago to the masses and a lot cheaper to trade with lower capital requirements.
It never gets easier, you just get better
  • #6,873
  • Mar 19, 2023 9:21am Mar 19, 2023 9:21am
Quoting Shabs19
{quote} By using this phrase as the header of the video, it is misleading, what he is actually referring to in Randomness of the Markets is the clusters of good & bad results in trading, especially with the low win rates traders have in short term chart trading the Forex. He is a stock trader principally trading the Daily charts, with win rates above 75%. Traders in a state of "euphoria" with a series of winning trades, as opposed to "desperation" when the opposite happens with a series of losing trades. I don't think he is talking about trading...
forget "euphoria" and "desperation" , why would anyone trade the market as a casino of 50/50 in the first place ?

he said his winnings are 65% and losing 35% , that's the strategy of a 50/50 trader, he do believe the markets are random, so, the title is not misleading.

cheers,
"the public is not yet ready for it" W.D. GANN
  • #6,874
  • Mar 19, 2023 9:29am Mar 19, 2023 9:29am
Quoting Kwt4x
{quote} forget "euphoria" and "desperation" , why would anyone trade the market as a casino of 50/50 in the first place ? he said his winnings are 65% and losing 35% , that's the strategy of a 50/50 trader, he do believe the markets are random, so, the title is not misleading. cheers,
I think he is talking about the masses, the average forex trader does have a 50 / 50 win rate or worse trading short time frames.
He states he has a 75% hit rate with stocks, so maybe Forex is not his expertise.

I think he did start talking about a roulette wheel, so maybe his thinking about Forex markets is gambling and his take is the emotional aspect of cluster of winning / losing trades affecting a trader. How that can be detrimental to ones' psychology.
It never gets easier, you just get better
  • #6,875
  • Mar 19, 2023 9:39am Mar 19, 2023 9:39am
Quoting Shabs19
{quote} I think he is talking about the masses, the average forex trader does have a 50 / 50 win rate or worse trading short time frames. He states he has a 75% hit rate with stocks, so maybe Forex is not his expertise. I think he did start talking about a roulette wheel, so maybe his thinking about Forex markets is gambling and his take is the emotional aspect of cluster of winning / losing trades affecting a trader. How that can be detrimental to ones' psychology.
exactly, that's what I objected on in my first post today
"he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market."

a man like him should not describe forex as a gambling market.

I'm ok with any strategy that makes money.

but, 50/50 traders focus more on MM more than trading, that's why they get in the state of mind of "euphoria" and "desperation".

direction traders focus more on trading and MM is a backup, I'm sure they will enjoy there winnings and accept there loses without mental issues

cheers,
"the public is not yet ready for it" W.D. GANN
  • #6,876
  • Mar 19, 2023 9:55am Mar 19, 2023 9:55am
Quoting Kwt4x
{quote} exactly, that's what I objected on in my first post today "he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market." a man like him should not describe forex as a gambling market. I'm ok with any strategy that makes money. but, 50/50 traders focus more on MM more than trading, that's why they get in the state of mind of "euphoria" and "desperation". direction traders focus more on trading and MM is a backup, I'm sure they will enjoy there winnings and accept there loses without...
Well that's what you get from asking a stock trader who would probably take a position on a stock not from a technical view but probably more from a fundamental one, like PE ratios, earning etc. and have greater success long term with growth. I think he is running a fund, thats his strategy.

Trading OPM doesn't carry as much emotional baggage as trading your own money.
It never gets easier, you just get better
  • #6,877
  • Mar 19, 2023 10:01am Mar 19, 2023 10:01am
Quoting Kwt4x
{quote} exactly, that's what I objected on in my first post today "he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market." a man like him should not describe forex as a gambling market. I'm ok with any strategy that makes money. but, 50/50 traders focus more on MM more than trading, that's why they get in the state of mind of "euphoria" and "desperation". direction traders focus more on trading and MM is a backup, I'm sure they will enjoy there winnings and accept there loses without...
We all have our different opinions and ways of seeing things.. I would argue there's a high probability Dr David Paul has had far more financial success trading than the vast majority of us on FF.

The MM is simply part of their trading plan...one leg of the plan soto speak. They take very specific setups that work less than 50% of the time . Nothing wrong with that. Trading has always been about Mitigating risk. . First and foremost we are Risk Managers ...no matter what our WR is ..

As there are very very successful traders that have a WR far less than 50/50 and make huge returns year after year decade after decade...

And btw these traders use TA and classic chart patterns. For the Anti TA crowd lol...

Cheers
Blue
Master your Mind,,,Master the Market
  • #6,878
  • Mar 19, 2023 10:29am Mar 19, 2023 10:29am
We all have different views on trading or life in general.. Thats the cool thing about FF is we can all express our opinions on our
common passion of trading And I know over the years my views have shifted and changed on somethings as with time comes
experience let alone the exposure to the differing views on the forum.

As TimeTells always says there is more than one way to trade...and no Best way to trade its an individual thing.....

Sunday 830 a.m. here coffees flowing..birds singing..Life is good

Cheers !
Master your Mind,,,Master the Market
  • #6,879
  • Mar 19, 2023 11:02am Mar 19, 2023 11:02am
Quoting Kwt4x
{quote} exactly, that's what I objected on in my first post today "he said: "winning percentage drop when trading forex", and that is not true, trading basics will apply on every market." a man like him should not describe forex as a gambling market. I'm ok with any strategy that makes money. but, 50/50 traders focus more on MM more than trading, that's why they get in the state of mind of "euphoria" and "desperation". direction traders focus more on trading and MM is a backup, I'm sure they will enjoy there winnings and accept there loses without...
He elaborates more on his tecnical entrie & exits here:

Inserted Video
It never gets easier, you just get better
  • #6,880
  • Mar 19, 2023 11:18am Mar 19, 2023 11:18am
Quoting Shabs19
{quote} He elaborates more on his tecnical entrie & exits here: https://www.youtube.com/watch?v=9WyQ_QDM3sY
I know the Dr. and seen his videos years ago, he is great in stocks and commodities, but the picture he painted about forex is going to mess up some traders if they take him seriously.
"the public is not yet ready for it" W.D. GANN
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