Trading wisdom from 30 Under 30
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Thread: Trading wisdom from 30 Under 30

  1. #1
    This is a ribbon for mindset.

    ”The wisest man knows that he knows nothing, the idiot thinks he knows all.”

    But wisdom is gained through experience; comprehension on the other hand is learned.

    Young traders (like me) lack experience, lack knowledge. But we could fall and get up again. Attempt to learn from other people's mistakes and we can try to learn.

    There's not any good reason for trial and error, no reason to dismiss real accounts of hard earned money (even if you are wealthy ). Don't reinvent the forex wheel; there are many awesome threads here for trading methods already in FF.

    To each their own.

    In case you have truly learned a procedure, whether it is:1. Long-term trading2.Short term tradingBased on:1. Technical Analysis2.Price Action3.Fundamental Analysis4.Automated Systems5.Etc.
    Unless the system is truly flawed, then the only blame for failure is that the trader him/herself.

    Forex is an ongoing learning procedure.

    The more I trade, the more I learn about myself. I feel this.
    I learn I can get greedy, I can get pissed off. I will throw act and blame as a fool when things are not bad.
    I also learned I can come back from a blown account, that I've got focus and a thirst for understanding.

    I really don't know what we will talk here (or if things will probably be discussed at all).

    Thoughts, rants, arguments, ambitions, and only anything related to forex can shared here.

    We are all traders . Don't trade.

    Thread Title made from http://www.forbes.com/special-report...-under-30.html

    Inserted Video

  2. #2
    Quote Originally Posted by ;
    quote lolz no! Definitely not a girl. I just liked the image (it disturbs me reminds me of surfing and water ) anyways.... Tick charts are enjoyable. They've a lot of moves on them tick chart for friday image
    woops, sorry if I came off sounding like an a-hole lol. Picture threw me off.

    Anyways, lets see what I can do with this particular chart. . Looks like the exact same old candlestick chart.

    Btw, on average, if you do not mind answering, how long does it take for every 100 tick bar to form? I know that it varies. . But I'm guessing 5-10 minutes? Never mind, I see the time stamps on the bottom of the chart today lol, wow that's pretty quickly...



    Recap-
    Chap. 2: Waging of War.
    2. When you engage in actual fighting, if victory is long in coming, then
    guys #8217;s weapons will grow dull and their ardor will be damped. Should you put
    siege to a city, you will exhaust your strength.

    Chap. 3: Attack by Stratagem.
    5. The general, not able to control his irritation, will launch his men to the
    assault like swarming ants, with the consequence that one third of his guys are
    slain, while the town still remains untaken. Such are the disastrous effects
    of a siege.

    Chap. 8: Variations in Tactics.
    3. There are roads which must not be followed, armies which must ben't

    attacked, towns which must not be besieged, positions which must not be

    contested, commands of the sovereign which must not be obeyed.

    Basically, since price had already been contested in the town area before (labeled 5), price may have consolidated again, or done anything, difficult to tell. So if it was a trade removed before price got to that area again (labeled 6), then I would watch carefully. I wouldn't do it, not before more confirmation / signs, When it was a trade to be obtained At 6. Apparently price was rejected from that area.

    Quote Originally Posted by ;
    oh but i am a young trader, under 30. Began its been a roller coaster ride, and january.
    Welcome to my little ribbon, and thanks to the contribution

  3. #3
    Quote Originally Posted by ;
    quote woops, sorry if I came off sounding like an a-hole lol. Picture threw off me. Anyways, lets see what I can do with this particular chart. . Looks like the old candlestick chart. Btw, typically, if you do not mind answering, how much time does it take to form? I know that it varies. . But I'm guessing 5-10 minutes? Never mind, I see the time stamps on the base of the chart now lol, wow that's pretty quickly... image Recap- Chap. 2: Waging of War. 2. When you engage in actual fighting, if victory is long in coming, then...
    hey, that looks quite great!

    Obvious analysis, that seems an enjoyable approach to trade.

    Yeah, its a mean of 1/2 moment - 1 minute, and on quite massive bars, 3 seconds approximately.

  4. #4
    Quote Originally Posted by ;
    hey, that seems really great! Clear analysis, that sounds an enjoyable way to trade. Yeah, its an average of 1/2 moment - 1 minute, and on quite large pubs.
    In case you enjoyed what you saw regarding supply/ demand. . I got it out: Price is Everything https://forexintuitive.com/forex-tra...avy-train.html

    As for the source of the AOW material...

    Chap. 4: Tactical Dispositions.
    Being key brings the victory; being translucent, conquer.

    Quote Originally Posted by ;
    I Really like it! Honestly, I thought of naming my trading system that I am making and learning'surfing the market!' Thats why I have the consumer avatar I have, since it reminds of the waves Truly jealous, you should go surfing more lolz.... Ive never had the chance to, for some reason I imagine when I have the chance, it's going to be awesome. Btw. YES! There's a sense of riding the ups and downs just like a pro, you just have to enter a specific type of mindset. Atleast for me, my skill develops quicker this way. Thats also why I like trading eurusd 100 tick charts (u may want to give it a try).
    By the way, I am going surfing again in a few hours. Hope you have to try it out sometime!
    I'm just getting my license for scuba diving. I'll make a post about that. . It's fairly enjoyable.

    Surfing and Scuba Diving... One is about being on top of these waves, for the other the Aim is to keep under.
    All the while trying not to pay a visit to Davy Jone's er...

  5. #5
    Quote Originally Posted by ;
    quote If you enjoyed what you saw regarding supply/ demand. . I got it out: Price is Everything https://forexintuitive.com/discussio...r-3-study.html As for the origin of the AOW material... Chap. 4: Tactical Dispositions. The victory is brought by Becoming key . quote By the way, I am going surfing again in a few hours. Hope you get to try it out! I am just getting my license for scuba diving. I'll make a post about that too. . It is pretty fun. Surfing and Scuba Diving... One is all about...
    argg! You're in europe, so not fair. Theres likely so many closeby Excellent places to surf/scuba

    gotta go to california or hawaii or something

    have fun

  6. #6
    Quote Originally Posted by ;
    quote argg! You're in europe, so not fair. Theres likely so many closeby very good places to surf/scuba gotkindly visit california or hawaii or something have pleasure
    no, I am not from Europe!! Where did you get that idea. . I've been to Italy earlier though. Visited lots of museums and hedrals. I've also been to Germany (although just the airport. .)

    Recap-

    Chap. 9: The Army On the March.
    15. Country in which there are precipitous cliffs with torrents running between,
    deep all-natural hollows, confined places, tangled thickets, quagmires
    and crevasses, should be left with all possible speed and not approached.

    Book translation lists these as: Heaven's Torrents, Heaven's Wells, Heaven's Prisons, Heaven's Nets, Heaven's Traps, and Heaven's Cracks.

    I am not going to think a particular market related situation for each type of terrain. I think that traders should just realize that there are terrains on charts that needs to be approached with caution:: selling shirts, buying bottoms, and trading when the charts are congested/ barely proceeding (low liquidity)...

  7. #7
    Quote Originally Posted by ;
    quote no, I Am not from Europe!! Where did you get that idea. . I've been to Italy earlier though. Seen lots of museums and hedrals. I've also been to Germany (although just the airport. .) Recap- Chap. 9: The Army On the March. 15. Condition in which there are precipitous cliffs with torrents running between, deep natural hollows, confined places, tangled thickets, quagmires and crevasses, should be left with all possible speed and not approached. Book translation lists these as: Heaven's Torrents, Heaven's Wells, Heaven's Prisons,'' Heaven's...
    you've got vatican city on your profile, thats the reason! (Kk, however its near europe!)

    Ive been to italy also, I love their gelato and pizza yummmm
    Been to vatican city too, when I was in france and took the train up there

  8. #8
    Okay guys, I can't wait for to the following two chapters. I read Attack by Fire and Espionage... Great great things. I'll try my best have some fun, and also to comment on those chapters. Looking forward to sharing with you.

  9. #9
    How did everyone no tapering event, like that FOMC? Had of my rankings closed and it caught me by surprise. . Spent the past night drinking, got home at 2 am and discovered NO TAPERING. I had been like. . WHAAT. . Actual drunk-like. Do not ask. Drunk general organizing his troops, ordering them to take down a night bar.

    Sort of sad Art of War is coming to a finish, means that I might have to read the other novels that I had purchased, now.

    This is a short chapter...

    Chapter 12: The Attack by Fire.


    1. Sun Tzu said: There are five ways of attacking with fire. The first is to
    burn soldiers in their camp; the second is to burn stores; the next is to
    burn baggage trains; the fourth is to burn arsenals and magazines; the
    fifth is to hurl dropping fire amongst the enemy.

    - Much like attack, different ways to use it. Versatile. Compare this to the prior
    cha p, chap. 11 # 29, the s huai-jan snake that has distinct attacks: Strike at its head, and you'll be attacked by its tail;
    strike at its tail, and you'll be attacked by its head;
    strike at its middle, and you'll be attacked by head and tail both.


    2. In order to carry out an attack, we must have means available. The substance
    for raising fire should always be kept in readiness.
    -margin

    3. There is a proper season for making attacks with fire, and special days for
    starting a conflagration.

    -bank holidays = no passion. Fundamental news occasions = fire.


    4. The proper season is when the weather is very dry; the special days are
    those when the moon is in the constellations of the Sieve, the Wall, the
    Wing or the Cross-bar; for these four are all days of rising wind.
    -Zhang Yu: Since the fire will ch more easily.

    Translator: This is one of those ( not altogether rare) events when the Chinese commentator seems to be stating the obvious.

    Uhh badly, Translator? That's what you have to say about the comment of Zhang Yu?

    But seriously, that was in the publication. The translator seems to have gotten very tired writing about AOW


    5. In attacking with fire, one should be prepared to meet five possible developments:
    (a) When fire breaks out inside to enemy#8217;s camp, respond at once with
    an attack from without.
    (b) If there is an outbreak of fire, however, the enemy#8217;s soldiers remain silent,
    bide your time and don't attack.
    (c) When the force of the flames has reached its height, follow it up with
    an attack, if that is practicable; should not, stay where you're.
    (d) If it is possible to generate an assault with fire from without, don't
    wait for it to break out within, but deliver your attack at a favorable
    moment.
    (e) When you begin a fire, be to windward of it. Don't attack in the
    leeward.
    - I feel that this is saying, when doing things and utilizing tactics, do not let those tactics backfire .


    6. A wind that rises in the daytime lasts long, but a night breeze soon falls.
    - Time. Which session are you trading? Sydney/ Tokyo/ London/ or New York. All times, different winds. .


    7. In every army, the five developments connected with fire must be known,
    the motions of the stars calculated, and a watch kept for the proper
    days.


    8. Hence those who use fire as an aid to the attack show intelligence; those
    using water as an aid to the attack gain an accession of strength.


    9. By means of water, an enemy may be intercepted, but not robbed of all his
    possessions.


    10. Unhappy is the fate of one who tries to win his battles and succeed in his
    attacks without cultivating the spirit of enterprise; for the result is waste
    of time and general stagnation.
    - Book translation: To acquire victory, to complete a goal, but not to follow , is a catastrophic waste.
    I had AOW with me when I went into my friend's pub, and so like I had been telling my friends about how this would relate to real life scenarios,
    I said this: It's like, once you get a girl's number and then get to first base, not following through would be a waste.


    11. Hence the saying: The enlightened ruler lays his plans well ahead; the
    good general cultivates his resources.


    12. Move not unless you find an advantage; use not your troops unless there
    is something to be gained; fight not unless the position is critical.


    13. No ruler should put troops into the field merely to gratify his own spleen;
    no general should fight a battle simply out of pique.


    14. If it is to your advantage, make a forward move; should not, stay where you
    are.


    15. Anger may in time change to gladness; vexation may be succeeded by
    content.
    - Book translation: Faith can turn into pleasure; Spite can turn into joy.
    Mindset!! Bite on that bullet.

    16. But a kingdom that has once been destroyed can never come again into
    being; nor can the dead ever be brought back to existence.
    -Do not F upward accounts. Accounts can be brought back, but your self-confidence might not. However, learn from mistakes, accounts will be blown before money is going to be made.


    17. Hence the enlightened ruler is heedful, and the fantastic general full of caution.
    This is the best way to keep a country at peace and an army intact.

    Happy Mid-Autumn Festival Everyone! #20013;#31179;#31680;#24555;#27138;!

  10. #10
    Before I go BBQ, I might also finish up this chapter. Mid-Autumn Festival tradition. . BBQ. I am pretty hungry.


    Chapter 13: Snowden.

    Lol just kidding about Edward Snowden. Hah, and this is not Joseph Heller's Catch-22 either, yeah that would be Chapter 41: Snowden

    btw, one of my favourite books of all time.



    Chapter 13: The Use of Spies.

    - Okay, so this chapter is about Insider trading Yes, I am easily amused by my commentary.
    Nothis chapter is attached to Chapter 4: Tactical Dispositions, in that the use of spies is mainly to learn the disposition of the enemy. Sun-Tzu goes through several chapters but it seems like everything comes down to Spies? The only characters in AOW are the Commander the General, and now Spies. But this does follow what he says about war being won not only on the battlefield, but off the field in trainings made and in the skill of the General to use his troops, terrain, time, and also the weaknesses of also the enemy.


    1. Sun Tzu said: Raising a host of a hundred thousand men and marching
    them great distances entails heavy loss on the people and a drain to the
    resources of the State. The daily expenditure will amount to a million
    ounces of silver. There'll be commotion at home and abroad, and men
    will drop down exhausted on the highways. As many as seven hundred
    million families will be impeded in their labor.
    - See Chapter 2: Waging of War

    2. Hostile armies may face each other for many years, striving for the victory which
    is determined in a single day. This being so, to remain in ignorance of the
    enemy's condition simply because one grudges the outlay of a hundred
    ounces of silver in honors and emoluments, is the height of inhumanity.
    - would this be the basics of scouting?

    3. One who acts thus is no leader of men, no present help to his sovereign,
    no master of victory.
    - do not be stingy? No, do would be what is best overall. Think long-term gains.


    4. So, what enables the wise sovereign and the fantastic general to strike and also
    conquer, and achieve things beyond the reach of ordinary men, is foreknowledge.
    -foreknowledge!


    5. Now this foreknowledge can't be elicited from spirits; it can't be obtained
    inductively from experience, nor by any deductive calculation.
    -superstition in the markets? Fantastic luck charms? burn it.


    6. Knowledge of the enemy's dispositions can only be acquired from other
    guys.
    - insider trading? serious stuff


    7. Hence the use of spies, of whom there are five courses:
    (a) Local spies;
    (b) inward spies;
    (c) converted spies;
    (Id ) doomed spies;
    (e) surviving spies.


    8. When these five kinds of spy are all at work, none can discover the key
    system. This is called divine manipulation of the threads.It is that the
    sovereign's most precious faculty.


    9. Having local spies means employing the services of the people of a
    district.
    - excursion manuals


    10. Having inward spies, making use of officials of the enemy.
    - traitors

    11. Having converted spies, getting hold of the enemy's spies and using them
    to our own intentions.
    - double agents

    12. Having doomed spies, doing certain things openly for purposes of deception,
    and allowing our spies to know of them and report them to the
    enemy.
    - scapegoats (those spies are educated false info, then sent to be captured by the enemy)


    13. Surviving spies, finally, are those who bring back news from the enemy's
    camp.
    - James Bond 007


    14. Hence it is that which none in the whole army are more intimate relations
    to be maintained than with spies. None should be more liberally rewarded.
    In no other business should greater secrecy be maintained.
    - spies are well compensated, but then this means that they may be bought out. Those that you can trust, use spies, patriots, those with stronger ties than simply money, family.


    15. Spies cannot be usefully employed without a certain intuitive sagacity.
    - In order to use them, one must know fact from falsehood as a way to discriminate between honesty and double-dealing


    16. They can't be properly managed without benevolence and straightforwardness.


    17. Without subtle ingenuity of mind, one can't make sure of the truth of
    their reports.
    - trading the news? News is generally after the fact, markets have moved.

    18. Be subtle! Be subtle! And use your spies for every type of company.
    - every kind of company?


    19. If a secret piece of news is divulged by a spy before the time is ripe, he
    must be put to death together with the man to whom the secret has been told.
    - leave no loose ends


    20. Whether the object be to crush an army, to storm a city, or to assassinate
    an individual, it is always necessary to start by finding out the names of
    the attendants, the aides-de-camp, and door-keepers and sentries of the
    general in control. Our spies must be commissioned to ascertain these.
    - know the enemy (via spies)


    21. The enemy's spies who have come to spy on us must be sought out, tempted
    with bribes, led away and comfortably housed. Thus they will become
    converted spies and available for our services.
    - do not take them straight to the chopping block. This type of activity is flexible. Even though the spy would be the worst kind of enemy, an enemy spy may still be helpful


    22. It is through the information brought by the converted spy that we're
    able to acquire and employ local and inward spies.

    23. It is owing to his information, again, that we can cause the doomed spy to
    carry false tidings to the enemy.
    - Snowden? (start conspiracy theory now)

    24. Last, it's by his information that the surviving spy may be used on manufactured
    events.


    25. The end and aim of spying in all its five varieties is knowledge of the
    enemy; and this knowledge can only be derived, in the first instance, from
    the spy. Hence it is essential that the converted spy be treated
    with the utmost liberality.


    26. Of old, the rise of the Yin dynasty was due to I Chih who had served
    under the Hsia. Likewise, the rise of the Chou dynasty was due to Lu Ya
    who had served under the Yin.
    -and also the Growth of GBP because of James Bond


    27. Hence it's only the enlightened ruler and the wise general who will use
    that the highest intelligence of the army for purposes of spying and thereby
    they achieve great results. Spies are a most important element in water,
    because on them depends an army's ability to move.
    - element in water?? Is the term that is right. . Book translation.

    Envision the General that gets a copy of the AOW pdf and starts soaking his spies in water

    I know my jokes aren't great, just trying to keep it light humored, the truth being that. . This is the conclusion of AOW.

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