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I like where this thread is going. There have been some very thought provoking posts so far. With regards to baby boomers having a third chance to dump. I am not so sure that baby boomers would be anymore immune to greed with a seemingly resilient market that keeps on bouncing back and going...

I am thinking along similar lines. Does anyone know of a bear market happening without the smart/big money first offloading to retail? Considering we have been in bull (a very hated bull) since 2009 I have never seen so much fear in retail. From what I can see most have one foot out the door...

I have a prediction for you. The lows that were seen in many stocks (AAPL, BABA, FIT for example) won't be seen again for many months if not far longer.

Bought FIT at $33.30 ... currently at $37.20 ... been as high as $39.70 earlier. I'll hold till end of week and re-evaluate.

Exactly. The fear was palpable. IMHO, at the end of this week it will be clear that buying fear, especially extreme fear pays off.

There was a lot of forced liquidation going on since last week. The open looked like capitulation. Flash crashes don't come around often, but when they do, it pays to pick up some good stocks at serious discount. Doubt that these stocks will recover to new highs from here, but probably see...

... nice. I saw some crazy bargains around the open. BABA $60, PYPL $31 just to name a couple.

I find that a healthy dose of paranoia helps the P&L.

BABA was too obvious to be a buy, IMO. I doubt this will move much higher till enough weak hands have been shaken out, then ... look out above.

Even if you think that you are managing your trades optimally, you can count on one thing. There are traders out there that are eating your lunch.

If you don't know what you are doing, you will lose money trading without SL If you don't know what you are doing, you will lose money trading with SL. If you know what you are doing, well ...

There is good money to be made trading breakouts. BTW I am talking about daily bars and/or weekly bars. I have no idea how breakouts fare on intraday charts as that's just not my bag. Breakouts drive traders crazy with all the fakeouts, retraces only rarely taking off. They run the buy stops...

In my humble opinion, "The closest thing to holy grail" is: 1. Don't lose money 2. See rule #1 There is a difference between knowing the path and walking the path. There is someone trying to stop you from walking the path. If you want to know who, simply look in the mirror.

Past 3 days has certainly been a good time for breakout trades if you happen to have been in SRPT. Thank you Mr Market!

Slightly off topic but what kind of ball-park percentage returns (say on a 12 month basis) do you short term traders achieve on an average market environment? I never trade anything less than daily bars so would be interested to know what returns are made on shorter time frames. I have no...

IMHO the difference between mediocrity and greatness in trading comes down to emotional discipline/control, patience and a balanced constitution for risk. However, there is certain knowlege that is required to be known, and the trader can either acquire that knowledge through observation or...

All fair points, not much to disagree with. Maybe it is trying to beat the system or maybe it's just enough screen time has allowed me to develop an instinct, pick up on subtle clues that I might not have otherwise noticed. Your warning is appreciated. If this starts to affect the P&L in a...

We are all trying to beat the system in our own ways. Don't you think? If you knew me you would laugh at the idea of me being a gambler. 90% of the time I am fanatically anti risk with my trades and only rarely do I take a gamble, but the context has to be right. You are right though about...

Really? Why do you say that?

Yes keeping a journal as others in the thread have recommended also is solid advice. This seems like right way forward. So far, I have been keeping a list of the equities with the date entered and exited and I do regularly go back and see what would have happened and although a small number...