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wcicom

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Posts posted by wcicom

  1. A question for the ages !!! :)

     

    I have also been trading for many years. And at one time or another over the years, all points put forth in previous posts seemed important.

     

    But over the years I have learned that not every good trade is a winner, and not every bad trade is a loser.

    I have to agree with "the5ers" in post #46, we can not judge success of the individual trade by profit. Over long term - staying true to your trading plan and your trading rules defines a good trade. If a trader is able to do that - money will take care of it's self, of course easier said than done, but everything in this life is. "TRADING IS SIMPLE, IT'S NOT EASY, BUT IT IS SIMPLE".........;)

     

    Good Luck All,

    Simon

  2. Hey Pathfinder,

     

    You are correct, I have used Wave59, and still do once in a while when in a mood to do long term forecasting.

    Just like most students of Markets, in a process of completing the "circle", no stone was left unturned and that of course includes Gann and Geometry in Markets. As far as Wave59 goes - it is a good software for anyone who wants to venture in to some esoteric and Gann methods.

     

    If you have seen my posts through out this Forum - it is easy to see how little I think of any software or particular method in terms of actually making money with it. Not enough can be said about importance of understanding what makes Market tick, and which method is applied is distant second.

     

    Like one smart trader said - " Trading is simple, it's not easy, but it is simple " :)

     

    Best,

    Simon

  3. Hi Jane, congratulations !!! It seems you have either "arrived" or almost there.

     

    Carbon25,

     

    Years ago on this Forum I tried to alter trader's believes ( instilled in them by books and seminars written by folks who never made a living trading ) that in reality there aren't 100's of different ways to make money in Markets. There are many different tools to do it with like derivatives, options etc, but as far as real trading approach and philosophy goes - there is only a few. That is the main reason that so many traders fail, they try ( because being told so by all the books ) to find approach which they are comfortable with because otherwise they will never make it. Well, 95% of them are not making it with their approach anyway. When we look for approach we are comfortable with - it means we are looking for Market to behave a certain way which agrees with our psychological make up and finances, when did Market ever made it easier for anyone to make money in it ?! Of course never !!! And here is the difficult honest truth - trader should be learning everything he/she can about Markets, what makes them tick, why they behave certain way under certain conditions, and forget all about themselves for years while they are acquiring all this knowledge. And once trader has accumulated sufficient knowledge of what really works in Markets - he/she MUST be able to utilize approach which works in Markets, regardless whether it is comfortable for trader or not. Every trader will have a period of time to become comfortable with what needs to be applied, and if they can not, and slip in to creation of something they are comfortable with - it's game over for all intense and purpose.

     

    We sometimes hear or read about incredible trading success achieved by a handful of traders, these are lucky few who's natural inner self aligns perfectly with what needs to be done to be successful in trading - also know as talent, for the rest of us ( who eventually do become successful in trading ) it's a long road of never ending struggle with self change and unfamiliar discipline required in trading, not to mention a few dozen other little hick-ups along the way :) .

     

    Just one more small remark for carbon25. I also years ago used to think of trading as war, and all other traders enemies. Trading is a lot like Poker and Golf, we will never be as good as we could be. So with that in mind, I started to look at trading as my never ending competition with myself. Anyone who has any kind of trading experience will agree that most of the time when we lose money it has very little to do with what Market it was, or who we traded against, it nearly always our mistakes or shortcomings in knowledge, execution, money management and quite often all of the above:) . Just letting you know what worked for me.

     

    Best to all, good trading,

     

    Simon

  4. I don't normally trade Forex, but why not go with large reputable Stock and Futures Broker, like IB, E*Trade etc. which also offers Forex trading. It may be a bit more expensive to trade Forex with them, also probably smaller leverage, but leverage is a double edge sword :) . I think having better security is worth it.
  5. For me a good broker must offer trading on both the MT4 and MT5 platforms, free or cheap historical data for backtesting of algorithmic systems, API for connecting the trading platform with Python or with other words for implementing (importing) of systems created in Python together with cheap commissions, fast execution and excellent support.

     

    lol, they have a few like these in a "Dream-Land"

  6. Hi lbf4223,

     

    If I connect NT7 to IB, and try to place an order in ES, after that chart of ES will become like one crazy number and all bars will look like a straight line.

    I tried reeting symbols, repairing data base, and some other stuff. The really weird thing is that after that - I can never have a normal ES chart again.

  7. Hi logicgate,

     

    S&P e-minis expire on Thursday prior to third Friday of the contract month. Usually traders roll over, to the next contract, about eight days before expiration date, but like one post above said - looking at volume is ussually the best way to roll. As soon as March 2019 will expire - that same day June contract of 2020 will start trading. Stock Index futures do not have many foreward expirations since almost all volume is traded in the current contract.

     

    Good luck,

    Simon

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