HAMA PAD - A Simple Trading Approach - page 181

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Gramski:
This is an example of my MTF template variation of EJ's ZCREST method with a few little twists thrown in... LSMA/Zigzag etc. I've found it provides very clear and accurate (and not late!) entry/exit signals in all conditions.

Hi Gramski..

Nice template.. And why you dont post it?

Could u please tell me the name the indicators and post your template???

thanks

 

Where was your entry

Hi Gramski

I am also using EJ's indicators but I cannot tell where was your entry point and where your exit point. Could you give me more explanations about the indicators you are using (except of EJ's) and how and why you use them?

Regards

 

Hi Gramski

I am using EJ's indicators but can't reproduce a chart anything like yours. Are you able to enlighten us please? Thanks...........

 

nice indicators

how do we get the template for the indicators and the setting

 

Here is good post from another forum that would be good to share with you all aspiring traders.

ENJOY!

fxcruiser

Quote from lindq:

My experience as well. 2 years to become "technically" proficient, another year to begin to overcome the the discipline hurdles. A total of 4 years to be profitable and confident in all market conditions.

Really, not unlike any higher education. A year in the dark. A second year of some slight enlightenment. A third year of growing understanding. A fourth year of getting it together.

And all the time, tuition and expenses are being paid.

I'm wondering here if my experience is common that trading doesn't really become consistently profitable until it becomes almost instinctive. And that doesn't happen overnight.

Whatever setups one uses, it really comes down to price action and 'feeling' when to move in, and when to move out.

Whether shooting hoops, hitting golf balls, or trading, to become a professional (self supporting) one has to put in the thousands of hours of doing it until it becomes second nature.
 
Gramski:
This is an example of my MTF template variation of EJ's ZCREST method with a few little twists thrown in... LSMA/Zigzag etc. I've found it provides very clear and accurate (and not late!) entry/exit signals in all conditions.

If Picasso had been a currency trader........

Just kidding bro. Nice chart. Have to be damn good to keep up w/ all that. Haven't seen you around lately. Hope you'll stop in the trading room soon. We miss ya dude.

 

Yes EJ I agree with your last post

And just consider that after finishing your education you have to start from the bottom and it takes some time to reach (if ever) the top.

If you study law you will not be responsible for a major case.

Medicine will take another 4-5 years before you can be a "real" MD.

Even as an accountant you will have trivial tasks to start with.

In trading your are the CEO from day one, so no wander so many fail.

 
fxcruiser:
Here is good post from another forum that would be good to share with you all aspiring traders.

ENJOY!

fxcruiser

Nice post EJ I can attest to time spent I have lived this for two years getting more screen time then sleep every day and just now getting to the point where I am becoming reactive and able to look to the left of the chart to see where the right side could be heading. It also helps to have great people such as yourself nudging people in the right direction.

Nothing worth accomplishing is easy and but man is it ever starting to become fun.

HS

 

Here is what Greg has to add along those lines on his posting in yet another emini futures forum:

If I may put in my 2 cents

Not everyone is cut out to be a trader, many just do not have the psychological make up for it, and many, I would even say most do not have the financial make up for it.

Mostly, though new traders weed themselves out of the market, by being ill-prepared, ill-informed and ill-equipped. Sort of like a surgeon showing up in the operating room, figuring he would just try a surgery or 2, before he decides if he really wants to be a surgeon.

For some reason traders do this all the time, I am not sure why, perhaps because access to trading accounts and margin is easy. Many who 'give it a try' with zero knowledge last only a few months, blow their account and never return.

The statistics in the industry are very clear on this.

By the time a wannabe trader figures out it's more complicated than that, he is now operating from a financial and psychological perspective of failure.

I personally know many traders who are successful some who earn a fair living equivalent to other professionals, and some others who earn many times that in a single year.

Last years bonuses for traders at wall street firms set all time records.

Like any business, like any industry and any profession, there will always those who succeed and those who don't.

What separates the two? (a hint, it's the same for any profession)

Hard work, A positive attitude, Perseverance, Time and Discipline

Trading is Evolution not Revolution.

It is not a get rich quick lottery, it is not a game

Many go to Med school, Biz School, Law School and never graduate, they can't cut it. Does that mean that there are no successful Doctors, Businessmen or lawyers in the world?

Not everyone is cut out for every profession, that's just how it is.

Traders do have 1 clear disadvantage, they are allowed (as long as they have $2,000 to open an account) to try their hand at it, it seems to be the ONLY profession where the proper education comes after instead of prior to execution

Just my 2 cents worth

Greg

Greg is a very astute, professional trader and the developer of The Trading Zone method and study course. It is one of the best trading courses I have come across with.

ENJOY!

fxcruiser

 

Oooops! I forgot what Greg added.

Fives you bring up another very good point, which is that there must be a fit, between the Trader and the Style of trading.

Many traders see others having success with a style and yet they are not able to.

Your psychology, risk tolerance etc.. all come into play in determining if a style is right for you.

I know JP is a fine trader I have seen him trade. I too use Market Profile but trade a vastly different way than JP does.

And I know I could not trade his way.

My personality requires that I take more trades in a day and hold them for shorter periods of time. This is what works for me.

There is no question that it takes time to discover your "Trading Personality" and then find the style that fits best with it.

So the question is, will a trader still be around financialy, after trying a few styles that may not be right for him.

I think traders need to do more research, and ask the right questions before taking on a style

Such as how many trades per day, do you ever hold overnight positions, how long is the average trade held, what type of stops are used, do you scale in and out of positions etc.....

And next, paper or sim trade that style for a while to see how it feels.

I know that even on a sim trade I could not hold a trade all day, just not my style

Greg
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