Consider something I posted earlier here....The trader is responsible for his trade, from the beginning to the end. Period.nanningbob wrote:SteveHopwood wrote:nanningbob wrote:
But I did tell them to trade JPY, USD and AUD early this week. 10.4 and 10.4 info page said so. I did say M-W look for quick profits or trade line to line until they get a hang of it. I showed the info page showing the lines were all bunched up so price would be ranging. I tell them take your profit halfway through a session so they dont have the BE hit all the time. It is not that I am not following my own rules. Yes there are some extra trades in there but they were not mentioned; they shouldnt be losing like this. The AUD and USD have not hit the 240 line. The JPY has on some currencies that did but they were close so the loss should not have been big. The cad/jpy, nzd/jpy and gbp/jpy have both had nice bounces off of the 240 line for buys and the eur/jpy bounced down nicely before bouncing up over the line. I didnt catch all of them but I did some. I show pics of setups the last two days. I mean what more can I do Steve???
Traders from the novice to the experienced need to understand that there is no A+B=C system out there, that will do what most "hope" they will. By that I mean, when event "A" happens, and you place your order "B", "C" does not mean "profit". It means "possibility" of profit. It can also mean BE or loss. The market preys on those very strict "rules'. It relies on traders to follow "strict" rules, as the market operates outside those rules. It's no different than the outlaw in a society bound by laws and rules.
The market does not move in a linear fashion. The market is dynamic and the traders response needs to be dynamic and not static. The trader MUST take responsibility for his trade once placed, and react in a dynamic way to the market. The trader must be able to recognize what the market is offering at any given time, because market conditions change. If the trader does not adapt to these changes, it is the traders fault if a trade in profit reverts to loss, not the markets. It doesn't matter what "rules" or guidelines you follow, the market does not play by those rules.
10.4 is a nice system that will grind out profits for you when you follow the basic guidelines of the system. It is still up to the trader, to adapt the basic system to his or her trading style and knowledge. To say, "My order was triggered here, and the market turned and took it" is irresponsible of the trader, who blames the market and the system. The SL protects your capital from large loss. That's what it's designed to do. The system worked. It is even worse when a trader says, "My order was 2 levels in profit and then the market turned and took me out at BE". The trader ALLOWED the market to take his profit back because he was greedy, seeing 2 levels of profit and wanting 4. What was your target or did you even have a profit target?
It is the traders responsibility to take his profit. You need to learn to see what the market is offering you, take it and move to the next trade. There is always another one! That is unless you, the trader, have allowed the market to drain the capital from your account.
Nobody can give you a plan to follow, in a 1-2-3 manner, that is going to make you profitable. Your success depends on YOU. Neither Bob, nor myself, Steve, Jeremy or any of the other countless numbers here can do that for you. Only you can, and only when you start to take responsibility for your own trades. If you can't do this, then take your money to the casinos as you stand a better chance of making some money, than you do in a market that is designed and manipulated against you. At least the gaming houses are regulated and must provide certain, given odds for their games.
What more can you do Bob? There is nothing more you need or are required to do. You have provided a good system, based on sound principles for the masses. It is up to them to take responsibility to learn the market as well as trading it.
CJ
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