Good (Sunday) morning all!!!
akeakamai:
WOW!!! Now THERE is another 'blast from the past'!!! Thanks for the post. I'm glad to see that you've covered your losses from last year and I know that it's a great feeling and a confidence booster. Let me say this: the only reason I know is because I had four different (personal) trading accounts from last year and I have covered losses made on two of the four to date and those two accounts now show nett profits as opposed to nett losses. Mainly: I STILL have to cover the losses on my first trading account (the losses on the other one mentioned are negligable in the bigger picture of things) and show a profit there but the nett loss is slowly but surely being reduced. By my calculations and based on my performance year to date I should cover that loss in the next few months and be showing a nett gain across ALL accounts by February / March next year. NONE of this has come without EXTREME 'pain and sheer hard work though'!!! I must admit: when I read some of my early posts and the very first post on the 'Parabolic SAR!!! - that's all' thread I feel somewhat 'foolish' NOW!!! On the other hand: it's a great way to 'check your progress' I must say!!! It really does go to prove that if you 'put your mind to something (anything)' and perservere you HAVE to succeed!!!
Anyway: stay in touch.
Craig:
Thanks for the input. You make some good and interesting points. I suppose if I / we were all following the systems 'to the letter' i.e. 'purely technically' then we would all be showing the IDENTICAL results i.e. I do forget to 'factor this in'.
You and I are just going to have to 'agree to disagree' on the 'Enron' system I'm afraid.
Let me explain it another way (from MY point of view):
The 'Enron' system is NOT implemented to 'hide losses' or give erroneous gains. I DO understand your way of thinking BUT one thing that you do NOT say is this: what IF your Accounts (A) amount was $10 000 and you were sitting with open postions that were showing a PROFIT of another $10 000 (as opposed to a loss)??? In other words: you Total (p+a) was $20 000??? What would YOU say was your ACTUAL account 'balance' THEN??? While YOU may say that it's STILL only $10 000 I'll 'bet you my bottom ZAR' that MOST would say that their account 'balance' is $20 000!!! To coin on of my favorite phrases: 'It's not over 'til the fat lady sings' in my opinion i.e. neither a profit nor a loss is a profit nor a loss UNTIL REALISED. On the OTHER hand (technically speaking): 'Enronning' a position IS different from closing a position, realising the loss, and then opening that same position later on when you get a signal ESPECIALLY if you're trading with 'logical' orders and positions AT DELTA. I will probably get the opportunity to demonstrate this fact soon enough with EUR/CAD!!! The fact of the matter is that it's NOT the same as either closing a position and realising the loss OR carrying the loss UNTIL price turns in your favor. I've tried to explain this to the best of my ability but before I go and type up PAGES of explanation let me rather use EUR/CAD as an example IF IT HAPPENS!!!
And ONCE AGAIN:
Please DO NOT think that I'm chastising anyone!!! I AM NOT!!! I REALLY WANT this to work for EVERYONE!!! Let me put it another way: it is NOT that difficult to make money in this business. YES: I can say that NOW of course. ALSO: I am NOT saying that it's EASY EITHER!!! What I AM saying is that somehow the 'mystique' of making money in this business no longer exists. I mean to say if I look BACK on the 'Parabolic SAR - that's all!!!' thread and SEE HOW my mind 'worked' back then and my thought processes at the time and how they are SO different from my thought processes TODAY: I can SEE WHY things did NOT work back then and why they DO work now. That's not to say that I'd go back to trading Parabolic SAR because, as YOU have noted, it's not a 'methodolgy' that 'suits my personality'. Having said that: I believe that even if I traded Parabolic SAR NOW I'd STILL make money but I'd probably not enjoy trading as much nor would my results be what they are. Of ONE thing I'm sure: EVEN IF I traded Parabolic SAR NOW I'd NOT 'wipe out' an account as was 'the order of the day' last year.
As far as your 'take' on the Dow, Nasdaq, and S&P is concerned:
I've read those SAME points of view and, THEY MAY EVEN BE CORRECT. The DIFFERENCE for me is the fact that EVEN IF THIS DOES HAPPEN I have a plan in place and if I have to carry a loss for a while (assuming I was long at the time on all of them) it would not concern me. It would not be NICE but it would not concern me. There is a subtle difference there. And to be honest I look at it THIS way: IF this DOES happen i.e. the Dow goes to 1 000 just think of the OTHER trading opportunities that would be presented??? The USD would become worthless and that would only mean that all our long GBP and EUR signals would be valid!!!
By the way: your observations are correct i.e. they ALMOST ALWAYS 'follow each other' ALTHOUGH the Nasdaq LESS SO than the Dow and S&P.
Anyway: I'm here to help as best I can.
I now have to 'tiddle off' to take four sick puppies to the vet (one has ALREADY been there overnight and these four are looking a bit 'green around the gills' this morning). They have contracted 'cat flu' or 'Canine Parvo Virus' which this breed is highly susceptible to so I need to sort them out. I'll tell you THIS much: I'm just REAL glad that this business has 'conditioned' me to think financially in 'USD terms' because the vet bill in 'ZAR terms' would make ME physically sick!!!
|