tag:blogger.com,1999:blog-12333088.post2003646557357894111..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: The Truth About Trading - Part IICarl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-12333088.post-13244929178003324682011-11-15T17:12:19.082-05:002011-11-15T17:12:19.082-05:00Part 1 is good advice, part 2 is a bit of a cop-ou...Part 1 is good advice, part 2 is a bit of a cop-out. Google "Rob Hoffman blowup" if you want a good example of where averaging down can take you. I say part 2 is a cop-out because I think its a cop-out to just average down infinitely until the market bounces enough to get you out BE or with a small (relative to your ACTUAL risk) profit. The fact is, if you're having to average your entry by pyramiding against the market, you've already made a mistake and you're too prideful to admit it. This type of strategy can lead to 5 years as a profitable trader followed by a series of blow-ups so spectacular that you lose it all.<br /><br />Not to say that you should never add when a trade has moved against you - this can be valid. But the type of pyramiding and "taking advantage of volatility" the author is talking about is something different than adding at a better price.Tim "surly"https://www.blogger.com/profile/00507441318890298190noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-60999593883034075982009-08-21T23:07:02.900-04:002009-08-21T23:07:02.900-04:00I've just recently started trading, and you...I've just recently started trading, and you've summed up my stop loss issues predominantly and my predicaments with cliche'd advice from the textbooks.<br /><br />These insights are really helpful thanks.mikehttps://www.blogger.com/profile/02080651801156905702noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-33689435220997529892009-08-19T09:13:30.561-04:002009-08-19T09:13:30.561-04:00Carl,
Very nice for you to share this with us. Yo...Carl,<br /><br />Very nice for you to share this with us. You asked Dcat where Al Brooks publishes his trades? Where does Gladiator X publish his trades and would like to see his trades that made his account go from 5K to 300K in one year... Also, he doesnt really tell you his strategy, other than read the markets!<br /><br />Thanksextraderhttps://www.blogger.com/profile/03032122744040672879noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-262297424265775632009-08-18T17:18:54.340-04:002009-08-18T17:18:54.340-04:00Carl,
Interesting articles by Gladiator X
but no...Carl,<br /><br />Interesting articles by Gladiator X<br /><br />but not exactly how he defines "Read the Market". I mean that fairly vague. <br /><br />Read the market on a short time frame or longer time frame?<br /><br />Learn candles stick, support and resist. Pivots Pts. IE Technical indicators to "read the Market"?<br /><br />or is talking about something totally diffrent?<br /><br />Wish Gladiator would expand this thought of "learn to Rad the Market"<br /><br />thanks,<br />JackJackhttps://www.blogger.com/profile/08838737982456501892noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-41202133483534906652009-08-18T17:12:07.548-04:002009-08-18T17:12:07.548-04:00I have to admit I took the time to read Gladiator ...I have to admit I took the time to read Gladiator X (?) post and it didn't turn to be a waste of time for the simple reason that I reaffirmed to myself that there is nothing completely wrong nor right in the market place as in life and nature. It all depends from which perspective you are looking at things. If your approach works for you, fine but you seem to scramble from one argument to the other with little consistency from prop trading professionals to volatility, backtesting, trading simulators and so on. The only advice that I can give to any trader is to look with a critical eye at anything that is thrown at you for free ! Cheers. MC.MChttps://www.blogger.com/profile/05620819713487587168noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-66214590687683714242009-08-18T10:21:22.529-04:002009-08-18T10:21:22.529-04:00Dcat..
Could you tell me where Al Brooks publishe...Dcat..<br /><br />Could you tell me where Al Brooks publishes his trades?<br />ThanksCarl Futiahttps://www.blogger.com/profile/01624989905417650273noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-90020490023588585232009-08-18T10:15:10.492-04:002009-08-18T10:15:10.492-04:00Carl, I can see why you agree with this: in the ...Carl, I can see why you agree with this: in the past week, we have seen you enter long when the market is short-trending downward, averaged in and broke even, and in a couple of cases came out ahead. I absolutely disagree: IDENTIFY the overall trend quickly, and trade on pull-backs...way better results. Read Al Brooks.dcatlowpjhttps://www.blogger.com/profile/03568127255552643343noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-74925039225351339072009-08-18T01:49:01.746-04:002009-08-18T01:49:01.746-04:00Carl,
I've always felt the discounting effect...Carl,<br /><br />I've always felt the discounting effect strips efficacy from any technical indicator or mechanical setup just as it does with news. The better approach is to identify overall current market themes and devise a strategy to trade within them.<br /><br />These psychology related posts, though few and far between, are greatly appreciated when shared.<br /><br />Thank you.mvwhttps://www.blogger.com/profile/15880711929145941170noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-6157651718800969622009-08-17T22:07:53.830-04:002009-08-17T22:07:53.830-04:00hey carl
was a good post overall , there though 2 ...hey carl<br />was a good post overall , there though 2 types of stops one being price and the other being time .<br />also one needs to read the market in both the short term as well as the long term . depending on the time frame we trade from we can be wrong and profitable as well as right and take losses . in the end <br />disaplin is the key which implies <br />we all have to manage our money or the market will manage it for us .<br />hope and hype will not bail us out <br />i still favor lower prices over the coming weeks if not months <br />weather this becomes a sideways choppy market or a defined downtrend . im not blind though and the market if it proves me wrong i will adopt to what ever <br />comes. at the moment im expecting <br />a move back towards 800-816 spx<br />which is right in the area of the iisland bottom in early april .<br />joeAdsensehttps://www.blogger.com/profile/08031892140855200123noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-73574015814435683632009-08-17T18:12:44.465-04:002009-08-17T18:12:44.465-04:00For how long has this guy been profitable? Very fe...For how long has this guy been profitable? Very few gurus have beaten a buy'n hold strategy with reinvested dividends for a 25-year period.<br /><br />If you have learned to read the market in 4 months you have only seen a fraction of the market that you say you master.Nilspirathttps://www.blogger.com/profile/06055077721366719578noreply@blogger.comtag:blogger.com,1999:blog-12333088.post-74393312514657198442009-08-17T16:32:06.609-04:002009-08-17T16:32:06.609-04:00Thanks for bringing this article out front. Embrac...Thanks for bringing this article out front. Embrace ambiguity and think independently inside your own box is my take away message.Kenhttps://www.blogger.com/profile/11752355250564623497noreply@blogger.com