Real Trading is not gambling.
- #1,283
- May 15, 2023 9:56pm May 15, 2023 9:56pm
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
Real Trading is not gambling.
- #1,284
- Edited 5:52am May 24, 2023 4:28am | Edited 5:52am
https://www.youtube.com/watch?v=8FKAHZsUXY0 Value your time.
Why do people waste their time on a day job? Well, we tried sleeping in a cardboard box in the park eating out of garbage bins, but didn't like it. Yes, we tried retail trading our measly savings account but that does not bring enough to quit our jobs. So we need to work for a boss a few years to "bootstrap" our lives and first generate enough capital before we can live of our trading. Anton himself also took summer jobs during his younger years[1]. Worked a job to pay for University, etc. Not all of us have a rich daddy like Paris.
- #1,287
- May 26, 2023 4:37pm May 26, 2023 4:37pm
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,354 Posts
- #1,288
- May 26, 2023 9:40pm May 26, 2023 9:40pm
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
Real Trading is not gambling.
- #1,289
- May 26, 2023 9:41pm May 26, 2023 9:41pm
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
Real Trading is not gambling.
- #1,290
- Edited 1:37am May 27, 2023 12:16am | Edited 1:37am
- Joined May 2022 | Status: Trader | 8,010 Posts
the best thing i ever did was toss out all my books on trading. I started out in 99/2000 when online took off...the soes bandits,datek brokers and stewert LOL
i read books and tried trading the way they said i should and kept losing...I even bought a book called street smarts by linda raschke, a futures trader whose book was highly recommended and highly expensive. I paid 275 dollars for it and thought it had to be the one book that held the holy grail wisdom of trading because it was so much LOL It was another piece of crap book.
I asked myself why I kept blowing up accounts following their advice? why do 90-95% of traders lose their shirts if there so many advice authors selling how to trade LOL
I started researching how the old timers did it in the early part of the last century. jesse livermore,richard wyckoff, gann,ralph eliott who invented his wave theory. How could they amass such great fortunes without computers and dumb ass books that steered them down a path of despair
Back in those days computers were just starting out and there was no google yet so I went to the library and read biographies and they wrote books too...some are even free online in pdf form. Wasnt till then I realised price and volume was all a person needed to win. And be a contrarian...do the opposite of what these knuckleheads write you should do since so many traders lose their accounts and money following their methods
Read Futures magazine...they stopped printing but back copies are online
Read Technical analysis of stocks and commodities magazine.. especially the back issues from 30-40years ago before writing dumb ass books became a big business and profit for loser traders http://traders.com/
most of those books on the first page beside wyckoff and sperandeo are crap...sperandeo offeres just one good setup and thats him 2B reversal setup and the 123 reversal that fails as often as works... thats it the rest of his book is the usual tripe you find on cnbc LOL
jesse livermore wrote a book on trading in 1940 so did many other men like wyckoff gann and couple others....those are worth reading not most of the crap thats on the list on the first page
my list would contain futures mag, TASC mag, wyckoff and steve nisons book on candlesticks....the rest will turn you brains to mush LOL
Inserted Video
i read books and tried trading the way they said i should and kept losing...I even bought a book called street smarts by linda raschke, a futures trader whose book was highly recommended and highly expensive. I paid 275 dollars for it and thought it had to be the one book that held the holy grail wisdom of trading because it was so much LOL It was another piece of crap book.
I asked myself why I kept blowing up accounts following their advice? why do 90-95% of traders lose their shirts if there so many advice authors selling how to trade LOL
I started researching how the old timers did it in the early part of the last century. jesse livermore,richard wyckoff, gann,ralph eliott who invented his wave theory. How could they amass such great fortunes without computers and dumb ass books that steered them down a path of despair
Back in those days computers were just starting out and there was no google yet so I went to the library and read biographies and they wrote books too...some are even free online in pdf form. Wasnt till then I realised price and volume was all a person needed to win. And be a contrarian...do the opposite of what these knuckleheads write you should do since so many traders lose their accounts and money following their methods
Read Futures magazine...they stopped printing but back copies are online
Read Technical analysis of stocks and commodities magazine.. especially the back issues from 30-40years ago before writing dumb ass books became a big business and profit for loser traders http://traders.com/
most of those books on the first page beside wyckoff and sperandeo are crap...sperandeo offeres just one good setup and thats him 2B reversal setup and the 123 reversal that fails as often as works... thats it the rest of his book is the usual tripe you find on cnbc LOL
jesse livermore wrote a book on trading in 1940 so did many other men like wyckoff gann and couple others....those are worth reading not most of the crap thats on the list on the first page
my list would contain futures mag, TASC mag, wyckoff and steve nisons book on candlesticks....the rest will turn you brains to mush LOL
short trump and go long the deepstate
- #1,291
- May 27, 2023 12:18am May 27, 2023 12:18am
- Joined May 2022 | Status: Trader | 8,010 Posts
short trump and go long the deepstate
- #1,292
- May 27, 2023 6:29am May 27, 2023 6:29am
- Joined May 2022 | Status: Trader | 8,010 Posts
i just looked up that book by raschke....its still expensive as heck LOL...20 some years later
https://www.amazon.com/Street-Smarts.../dp/0965046109
i shouldnt have thrown them all away just used the pages as toilet paper
https://www.amazon.com/Street-Smarts.../dp/0965046109
i shouldnt have thrown them all away just used the pages as toilet paper
short trump and go long the deepstate
- #1,293
- May 27, 2023 6:54am May 27, 2023 6:54am
- Joined May 2022 | Status: Trader | 8,010 Posts
short trump and go long the deepstate
- #1,294
- May 27, 2023 8:34am May 27, 2023 8:34am
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,354 Posts
- #1,295
- May 27, 2023 9:18am May 27, 2023 9:18am
- Joined May 2022 | Status: Trader | 8,010 Posts
short trump and go long the deepstate
- #1,296
- May 27, 2023 10:25am May 27, 2023 10:25am
- Joined May 2022 | Status: Trader | 8,010 Posts
short trump and go long the deepstate
- #1,297
- May 28, 2023 1:45am May 28, 2023 1:45am
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
Real Trading is not gambling.
- #1,298
- Edited 11:18am May 28, 2023 10:38am | Edited 11:18am
- Joined Oct 2020 | Status: couldn't give a flying duck | 7,354 Posts
{quote} Well I just figured that it would be a type of group think tasking or a "webinar" style ..... "you've got SB Mortimer" (whoever that is), so usually there's a spiel and a closing approach to the "talk". So there's something to pay for or buy. Maybe I'm mistaken. Maybe it's to be just a pow-wow. I've always thought trading, real trading I am referring to, is a singles game of tennis. So is this Sb Mortimer a Life coach, or a trading mentor/coach or something similar? Peter
I like to help newbies to avoid blowing accounts and help them understand the markets better.YES you are mistaken. I sell nothing. I dont charge anything for zoom sessions, I dont sell courses, I dont sell Signals, information or anything else. I share my knowledge totally free. You can join me on zoom anytime you like just send dm.
But But But -- I get you i really do.. So called trading Gurus are only after 1 thing (your money) and dont even get me started on Lifestyle coaches
just Leeches.SBMortimer is a forex factory member, other than that i have no association.
Ive probably done 40 or more zoom sessions with various FF members. But i rarely get any feedback.
If you like put a post in the Cable thread an ask members
1 -- Has T721 ever tried to sell you anything
2 -- Does T721 charge for zoom sessions
3 -- Did you learn anything from T721
4 -- Do you think T721 is a Bullshitter or Scammer
5 -- How much time have you really spent trying to prove T721 wrong. Have you done the work he expected you to do.
6 -- anything else you can think of Peter
Please post something like this in the Cable Thread. your well respected in FF so maybe we will get some feedback
- #1,299
- May 28, 2023 10:09pm May 28, 2023 10:09pm
- | Membership Revoked | Joined Nov 2020 | 2,353 Posts
{quote} Hi Peter, thanks for your reply. and yes i agree with you -- trading is a singles game
My reply ----
First rule of "Fight Club" or .... "trading" .....
1. Socializing and trading do not mix.
Why? Sitting in a coffee shop environment and "talking about trading" needs only a cup of wine/spirits/beer/coffee and then calling it "productive". Therefore it doesn't work.
Second Rule ......
2. The people with the most common sense will "win" on the small, the moderate and the big scale.
Why? People make the mistake of "believing" that the real world "out there" is totally "different" to "inside the world of trading". It's not. EG - Try hitting your head against your computer screen or phone etc HARD then ... go outside and try the same exercise on the side of your home. And now .... FEEL the difference. No "rationalizing" the difference. But soak up the real life of it. The ONLY thing one brings with them "into trading" is a personalized form of common sense (Not counting personal baggage). If you aint got common sense then get some. The less common sense a person has, the more "guidance" they require. Why? Cannot observe and assimilate new information or knowledge because there is no human foundation present therefore no plan that helps connect the dots. This is why I say that a blueprint is a true lifesaver...... they come in many shapes and flavors but they always save your ass when it counts. So people don't need a million and one ways to acquire and keep information, they need proper thinking.... and the other traits that give discipline and insight. IF you don't have those, even the best strategy will lop your head off.
Third Rule ......
3. Assume your peers are just as unknowing as you are .....
This addiction to asking "peers" for help or guidance goes completely against the basic concept of "self starter"... A self thinking and feeling human being. This is why these sites (to me for eg) are a BIG joke. Churning out "formed people" so they end up "trading' the same precursors ( the step before the steps BEFORE the other steps). It makes your thinking and your trading all predictable and EXTREMELY vulnerable..... BOTH in trading AND real life.
Fourth Rule ......
Thinking precedes reactions .....
Since most people on this planet, are now in "use and BE used" mode in society, this site reflects this clearly.
So to me people need to address their addictions to information and retrace their steps to learn instead of follow. This skill is very useful in the real world, more useful than asking the person next to you "How do you get to San Jose??".
And so THIS is why I asked what I did and how I did. Helping people to be more human, that's one thing, helping them to "make money" is (to me anyway) fruitless. To me, it makes them MORE ignorant and unknowing not less. Of course people who have an addiction to money will disagree. But that doesn't change anything real.
And yes I've been on the "Cable Update" thread. It's a good laugh..... it's a REAL BIG cry for help. So no accusations or insinuations from me to you. As I've tried to say in many ways to "gefx" and others, common sense is in the common area, but you have to EARN what you learn every step of the way. There are no shortcuts. So for me, aiding someone to think better is the more productive way to help another person. I believe the foundation level is where one blossoms or rots. But that's just me.
Peter
Real Trading is not gambling.
- #1,300
- May 29, 2023 12:18am May 29, 2023 12:18am
- Joined Mar 2012 | Status: Trader | 14,309 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade