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The short answer is, this is not going to work out for you. And this will be an answer you won't appreciate. But it might set you thinking as to how you might construct something offering high probability with high profit outcomes. Lots of stuff appear to work theoretically and they need to...

The correct answers are - (1) no trade is worth entering if its true probability is 50/50, particularly so for the amateur and (2) you can add to a position (using care: scaling up buying on upward price direction and scaling down selling on downward price direction) but NEVER as a sole...

There is a key dynamic in this thread. It is to do with problem solving and so it interests me. It goes like this: "I set up detailed rules to manage my trading" or "All my rule making proved not good enough and so I trade according to my feel of the market". So are those similar alternatives or...

Daytrading defeats many or most amateurs. No surprise there. As always with failed amateurs they switch the blame elsewhere and typically try to pin all or most of the blame on daytrading as a mode of trading. But actually its only about being unsuccessful; it just happens to be daytrading...

Tolle's 'Now' is an illuminating notion; no doubt of that. However as we say "now" it has moved into the past. If we say "the present" it too has moved into the past. In fact we never have either the present or the future. We live at the front of the past continuously. That is our fixed...

Lets look at time frames in CL by considering pace and lets look at Thursday & Friday. What happened on Thursday and Friday (CL May 5 & 6, 2011) was not different from any other day. The only EXCEPTION was the pace - faster pace, roughly about 4 times faster than a more regular CL trading...

The thread opener appears to know little about markets. Obviously successful amateurs as well as all serious players in the markets do not mind how many other fools there are with ignorant or misguided views. While fundamental analysis will always have a role, technical analysis is 'king'...

The thread opener has offered age, class and gender to decide what group produces losers (rather than winners?) Missing are divisions by ethnicity and physiology (eg brown eyes versus blue eyes). Lets consider women. There are as many sheep among men as there are among women. However you can...

I don't know whether the word stress is sufficient when such words as anxiety, dread, fear and panic are more accurate as the base reactions in the mentality of losing or being an overall loser. The nub of all this is trading without a plan or system. Or alternatively you are trading with a...

The thread opener appears to have personality problems that in fact are unrelated to the job of sitting in your underpants in your basement and trading. Aside from the freedom enjoyed by making money from trading, there will be those at ET who, like me, know that you make your own personal...

No, this is exactly what you do want. All you have each trading day are price gyrations represented by swings up and down. From this you can make your money (eg CL). Self made difficulties arise from wanting to see so-called trends. No one appears to be able to pin down 'trend' except in...

Going to the maximum leverage your margining allows on your capital with your broker is the mentality of a lurking or actual loser in the great trading game. There is no 'very favourable set-up', only probability. But you can become very precise as to that probability. There are only price...

This thread is on the repeat topic of endless threads on the same subject, namely why most people lose. The unrealised fact behind losing is that they are all amateurs and they lose. I have a professional and executive background in this business. And undoubtedly stocks and futures markets...

S/R is a chimera. It appeals to some players because of the 'certainty' provided by a specific line on a chart. It can be as right as often as its wrong. Price gyrations (eg CL) show swings exhausting themselves all the time when as always an opposite swing takes over. So price may...

Amateur backtesting endlessly tried by ET members doesn't work because the input is insufficient and for example 'divide and conquer' sorting of the data has not been carried out first. Amusing irrationality because the only thing we do have is the past. As you look at the live screen of prices...

The eighth and last choice in NoDoji's Poll corresponds best to the sequence of opportunities that the market (eg CL) offers, open to close, via its price gyrations represented by its sequential swings up and down. I agree with the characterisation of consistency as being in your mind. That...

The purport of this thread appears largely to rest on a 'hit or miss' approach to trading. If you're ahead in the day so far, stop trading because you might blow away some or all of it. You cannot make yourself rich with any such approach. Ultimately trading and in particular day trading a...

Contrary to the amusing suggestion of the thread opener that only as a dumbass can you become rich, no, dumbasses do not make themselves rich. Also, as already pointed out, some small time 'invest and hold' is not trading. As well it is misleading to think that simple trading as an approach...

The key here is methodology before anything else. Anyone may put in whatever they like as sufficient capital BUT unless and until you have a consistently successful methodology you will be going nowhere and likely losing all, or badly denting, your input capital. If you take those at least 5...

This thread points at a main self barrier exhibited at ET all the time. You do not need perfect information. You only need prices on charts. You then have a huge choice as to how you want to present that information to yourself (fast or slow charts - using time, volume or range bar charts)...