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The simplest form of automation is setting your parameters in advance of each trade- putting in a bracket order that includes both your target price and stop loss exit. If your platform permits, you can include an adjusted stop that triggers at a specified level that moves your stop loss to...

Trading is not a normal business like a bakery. It's a business where fortunes are made and and lost daily on the dynamics of fear and greed. As fear and greed are mental mindsets, examining one's mind to help us understand the dynamics can help people in their approach to their trading plan...

I read Alexander Elder's book "Trading for a Living", and bought into the dream and freedom that such a life of financial independence could provide along with the seemingly straight forward approach of using technical analysis to determine future market direction. Using one's brain to...

If true, Shkreli would be the first person in known history to pull off a successful Ponzi scheme that actually worked out for everyone involved. MSMB was made whole so they're happy and Retrophin made so much money that it doesn't seem the shareholders miss any of those siphoned off funds.

You need to do some rethinking here. You make it sound like just applying hard work and willingness to self teach is a sure route to success. Working on a consistent trading solution is not easy, and having confidence won't make the task any easier. Fact is trading is one of the hardest...

Two years is just a drop in the bucket when it comes to trading proficiency- it can take many years to develop a confirmed working method edge, with many never achieving this. When you say you aren't having any luck, what does that mean? How are you measuring yourself? Are you taking notes on...

I don't follow your response - how is she living "parasitically"? She has a vlog about her experiences in not going the corporate 9-5 route and making money via the gig economy. I don't see what's parasitical about that. Next, she's not teaching anyone about trading. Her followers ask her how...

I recommend you start with your local library and check out all the available trading/investing books available as well as online docs. Why spend anything when so much free knowledge is available? Next, read up on the success/failure rates of professional and retail investors/traders. You will...

As a general rule, this has been the case historically. Capitalism is driven by profits as a result of reducing market inefficiencies or providing new services. The "human" element in markets is a big source of that inefficiency, and profits are maximized by eliminating the number of humans...

What is your protection if your system blows up and many of your friends/family who suffer losses decide to become "enemies" and sue you for mismanagement/fraud?

The article states the expected time frame for the bulk of these changes will occur within 10 - 20 years and mostly affect lower level/lower wage jobs. I think they are missing the boat and severely underestimating the rapid changes taking place in the fields of automation and AI. I think the...

My answer was intended to be useful, but since you want it spelled out in more detail: From your original post: "There are so many threads already about this topic that I can't look all of them." Translation: "I'm not motivated enough to put in an effort to research those threads for...

There is no such thing as "beginners trading". If you're not ready to do the homework of researching terms mentioned in a book you aren't familiar with, trading isn't for you. What you're asking is like asking for simplified "how to" books on brain surgery.

Comparing daytrading to the proficiency in surgery,musicians,martial arts, language, etc.. where the focus is just on mastery/repetition of knowledge is off base/inaccurate. Daytrading is an open system competition environment - the difficulty in maintaining a profitable trading edge grows as...

Interesting, but in reality, the trades would no longer be possible once the amount of funds in play becomes large enough to start moving the market/stock traded, making one essentially the market. You then become the "fat whale" that others can front run and trade against.

Time frame is irrelevant compared with having an edge in knowing of a pattern that repeats and can be exploited. Long term patterns play out in shorter time frames and vice versa. The key is being able to discover/determine such a pattern that you see repeating over time. Once you have such a...

I dislike being the bearer of bad news, but based on what you've written, you have a ton of unrealistic expectations on the probabilities of succeeding in trading for a living. According to stats, 80+% of would be traders wind up losing money and never become profitable. Of the remaining ~20%...

1) The less confirmations/signals you use to enter a trade, the greater your odds for success. 2) Typically the best short op looks like a great long and the best long op looks like a great short.

Short answer is no, they are not needed to be successful. Longer answer is they may be needed by those who require an assist in reading the market and are having trouble with using just price and volume. Using indicators can be compared to using direction technology like a compass or GPS vs an...