George 

Now, Here we have an excellent example from Gio, related to being stuck in the past. And by that I would like to thank Gio, for his contribution in order to teach people about the danger of getting stuck there. It's a bit destructive, especially in the markets. You see, Gio made some posts in the thread I started called Harmonic Trading. He refered to Elliot Wave in the context of Harmonic Trading. I asked him nicely to stick to the HR instead. Eventually he started to pick on me. He posted one comment that was rather rough I guess, because he changed his mind, or he got it deleted. After some more posts, he asked me to apologize because I was, according to him insulting the intelligence of all people. I apologized (by the way, imho, that was never the intention, and I believe that people did not felt insulted at all, because there were no insults there). He continued! Eventually he stopped, and left the thread to develop without him! Once again, thank you for that Gio. Now, he's flashing again with his irony by quoting a post that, I myself find a bit way of context. You see, what the past is doing to you. It's giving you a big, big bonus of destruction. I mean the guy hasn't been able to let it go yet. So you have to let go of the past, especially when you have experienced a bad trade! Or a good trade for that matter as well, because that too is creating an expectation spelled, I have to do it again! /George

With respect, you probabably get 'hate' in the forum on account of the way your writing style makes you appear. It might not be the case, but a misplaced sense of superiority and delusion is what comes out.

When Someone says it cant be done all they are expressing is their limitations and no-one elses . Of course indicator based mechanical systems can work , people declaring absolutes like that are stupid . Thats why they cant do it ..

George 

The solution to all this is to get rid of your past. The past contains the the past and nothing else. You have to adopt a different mind set. Normally we live our lives by our expectations. Stop doing that in the markets. Concentrate on the now, that's where the action is taking place. Get rid of your past, and you'll get rid of your tunnel vision. One way of doing that, is what my old NLP buddy is suggesting. Get rid of news, financial media, trading buddy's, and stop reading predictive material. The reason is to filter out, every single thing that's constructing your expectations. You have to understand that by watching an indicator, or the financial news, the only effect of that is that it gives you expectations. Now, the problem is not having them, the problem, is the way you react when they're not met. Pick up one market and get familiar with it. Start by observing it, without acting, just observe it and see what it's telling you. Get familiar with it, in the now, don't expect it to do whatever you expect it to do. Just watch it, and let it tell you what it is doing. After you've got familiar with that. Change your mind set once again, and start to think in terms of: The only thing I need to do, is to throw my money in, in order to see what's going to happen. And when I do that, I'm only going to throw in a small amount of money, only and only to find out if, what I perceive in this moment is going to take the shape of a probable desired action. That in my opinion is "all you need"! /George

Great thought.

TAJTrades 

cunparis, Very interesting perspective. A while back I wrote some software that would capture and log all the bigger trades. The idea was to get an estimate of what the Big Boys were doing, price points where they were buying or selling. Depending on the daily charts I could go back 1,2 3 or more days, sometimes weeks, to determine the zones that the they were buying and selling. It was a thing of beauty for finding Support and Resistance areas. I could see areas that were defended and areas of accumulation / distribution. Then slowly but surely it started to lose its effectiveness until it reached a point of useless. Then a few months later we all started to see the stories about High Frequency Trading. Totally skewed every thing I was doing and my little kingdom of the Holy Grail collapsed. Point of the story is that market conditions change all the time be it technology, economics or the heard mentality. The only thing that saved my bacon was that I made a decision to spend time and effort on learning how to trade and not rely on my little "Gold Mine". As I have gained more experience and success the only thing I am becoming convinced of is that any combination of a Trend Indicator and a Momentum Indicator (Keeping it Simple) will lead to success if and only if you spend the time and effort to learn all the little nuances of those indicators and price action around them. Indicators are only guides, little hints of what might happen. Price action will tell the story. If I were to make just three suggestions they would be: 1) Invest in a good printer, lots of paper and ink. Print out your charts every day and review those charts after the market closes. Refer back to yesterdays chart and last week , month, year. Learn the nuances inside and out. Trading is a full time job; treat it as such. 2) Pick one side of the market. Are you going to be a Trend Trader or Counter Trend Trader. Learn one side and learn it well. It will keep you in the game. 3) Stop chasing the next "Latest and Greatest Indicator". Have you ever talked to a successful trader and the tell you that they use indicators A and B. And then you talk to another successful trader and the tell that they are using Indicators C and D. Well how can that be? My guess is that they know the interaction of price with the indicators inside and out. There is a comfort and confidence level from using the same chart setup for a long period of time. Pick a chart setup and do not deviate from it for a year. The results may surprise you. And as always (should not even need to be said) Money Management is King. Good Luck.

Truths from old timers. LISTEN 👂 NOW