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Trading book(s) - please recommend if you can

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  • Post #50
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  • Edited 7:40am Dec 9, 2019 7:21am | Edited 7:40am
  •  Igrok
  • | Membership Revoked | Joined Dec 2006 | 2,771 Posts
OK, colleagues... since the opponent has already left our tiny friendly battle scene we can now talk about the market's randomness and its predictability seriously... the point is that even mathematically the term "random" is not equal to the term "unpredictable"... they are non synonymous... such an important part of math as the "Probabilities Theory" studies randomness and has already achieved some great results.. especially over the last few centuries... I personally used it for some practical purpose and for me it took a couple of months to figure out an algorithm for some Californian lottery and then just a couple of week to hit a jackpot... later I even wrote a book about it also... however it has nothing to do with the financial markets in general and Forex in particular... TA, being a very young and still developing science, nonetheless has already outlined and confirmed that the markets are not quite random in fact... there are lots of studies proving this very idea... the problem is not the TA itself, but people's inability to take advantage of that knowledge... and it's very complicated indeed...
 
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  • Dec 9, 2019 10:56am Dec 9, 2019 10:56am
  •  finessence
  • Joined Jul 2017 | Status: Member | 271 Posts
Quoting TudorIoan
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{quote} Fundamental analysis works mostly for large investment portfolios, not for the up&down Forex roulette. Forex is random.
Ignored
It may well be so, but let's not throw the baby out with the bathwater here. The cyclical rate announcements, for example, very much in the fundamental category, are great for short term momentum play. In my view, as long as there are price patterns to be observed, either technical or fundamental, the randomness argument is hardly convincing.
Timing Direction Strength
 
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  • Edited 11:35am Dec 9, 2019 11:08am | Edited 11:35am
  •  TudorIoan
  • Joined Dec 2015 | Status: Member | 13,988 Posts
Quoting finessence
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{quote} It may well be so, but let's not throw the baby out with the bathwater here. The cyclical rate announcements, for example, very much in the fundamental category, are great for short term momentum play. In my view, as long as there are price patterns to be observed, either technical or fundamental, the randomness argument is hardly convincing.
Ignored
Again... please "observe" for me a pattern which is not circumstantial and work all the time, and I'll agree with you.
And again, I challenge you all, show me the money, not noob's words!

edit: ...please spare of EA martingale series!
Member
 
 
  • Post #53
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  • Dec 9, 2019 11:09am Dec 9, 2019 11:09am
  •  finessence
  • Joined Jul 2017 | Status: Member | 271 Posts
Quoting Igrok
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the problem is not the TA itself, but people's inability to take advantage of that knowledge...
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good point
Timing Direction Strength
 
 
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  • Dec 9, 2019 11:10am Dec 9, 2019 11:10am
  •  TudorIoan
  • Joined Dec 2015 | Status: Member | 13,988 Posts
Quoting finessence
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{quote} good point
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Show me the money, stop the BS!
...a valid overall TA pattern will do
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  • Dec 9, 2019 11:29am Dec 9, 2019 11:29am
  •  finessence
  • Joined Jul 2017 | Status: Member | 271 Posts
Quoting TudorIoan
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{quote} a pattern which is not circumstantial and work all the time
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No pattern works all the time. If you're looking for one, you are missing the point.
Timing Direction Strength
 
 
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  • Dec 9, 2019 11:54am Dec 9, 2019 11:54am
  •  jmflukeiii
  • Joined Oct 2011 | Status: Member | 1,418 Posts
Quoting TudorIoan
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{quote} Show me the money, stop the BS! ...a valid overall TA pattern will do
Ignored
Over what period of time? What would you consider a successful pattern? There are obviously traders that trade based on technicals (i.e. charts) that are successful so I'm not sure what you are arguing for or against?
Small disciplines repeated with consistency lead to great achievements.
 
 
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  • Dec 9, 2019 12:12pm Dec 9, 2019 12:12pm
  •  finessence
  • Joined Jul 2017 | Status: Member | 271 Posts
Quoting TudorIoan
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{quote}
OMFG!!! No wonder 95% of you lose money!!! Your stupidity have no limits!!!
Brokers happy!
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Impressive discourse skills. You must be equally good at trading, I presume.
Timing Direction Strength
 
 
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  • Dec 9, 2019 12:27pm Dec 9, 2019 12:27pm
  •  Igrok
  • | Membership Revoked | Joined Dec 2006 | 2,771 Posts
Quoting TudorIoan
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{quote} Again... please "observe" for me a pattern which is not circumstantial and work all the time, and I'll agree with you. And again, I challenge you all, show me the money, not noob's words! edit: ...please spare of EA martingale series!
Ignored
here is the link to my article about repetitive diamonds published in the "Stocks & Commodities" Magazine last year https://store.traders.com/stcov3628336.html
 
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  • Dec 9, 2019 1:46pm Dec 9, 2019 1:46pm
  •  auricforecas
  • Joined Sep 2017 | Status: Still a total mystery | 3,575 Posts
Can I suggest, just for a thought... Maybe you could (anyone) check more "universal" book.. Because some (trading principles) are universal...
For example.. Maybe some math-stat, probability... Not some sci level, but practical example... won't favour any, just check for some rather credible author...
Or also some trading books that are explaining win-rate vs profitability (I found that this is what many do not get...), or risk-management book 1.1.. Since many do not get (pass) this R:R 1:1... Just my 2b ppl.. not "teaching" anything.. because If I could get 22x TP20 with RR 1:1.. would be a billionaire already *out of 250USD deposit...

BTW I came to trading from completely unrelated subject... at least what it seemed at first.. If I would be "stuck" with trading books in the beginning, I wouldn't be able to trade the way I do now... The key is to find the EDGE... And if you all follow the same books/techs... where would the edge be? Besides discipline, loop=infinity principles etc... But also... For those there are more specialised books also, like DISCIPLINE, self-control etc, planning...

As for trading trading books, I can not recommend a single one I much prefer to check some articles or "googling": "win-rate vs profitability", "risk-reward vs profitability", fundamentals of fundamentals, but rare do get it
Can you afford to take that chance?
 
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