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If I was to mentor you the first thing I would ask for is a trading plan. This would be a document like a business plan. Something you could take to a bank or an investor to convince them to lend you money. I would not show you a method, I would expect you to develop your own.

A check list is not a trading plan. If you know what you are doing wrong. Stop doing that.

How are you defining "Risk"

Do you have a written trading plan?

Not sure what your point is. Both index ETFs (SPY & QQQ)have far outperformed LIT.

Perhaps theory is the wrong word. After spending some time watching the market you might see opportunities show up time and again where you might have been able to profit. Define them, test them, prove then wrong. See point 6 it pretty well covers discipline. :)

Study the market Develop a theory on how to take money out of the market Spend some time proving that theory wrong If you can't prove it wrong then develop a written plan to execute the theory Forward test by trading the plan on demo, then with small size, then increase size. Keep track of...

So buy and hold the index. Let S&P manage the portfolio. SPY has a MER of 0.09%. If you can't outperform SPY you should not be trading.

You're day trading. The chart will tell you how traders perceive the news before you get it.

I followed Will Rodgers advise "Don't gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it." Actually I changed it a bit to if it doesn't go up get rid of it.

Have a plan. Follow the plan.

What part of "To be totally unable and unwilling to predict what is going to happen next." didn't you understand?

That's an edge you should be able to exploit. Enjoy your new found wealth.

I probably wouldn't recognise one if I saw one. How ever I grew up in sasquatch country. :)

Don't forget WD40

That would be me. :) But then I'm also a redneck.

I have yet to see an indicator that doesn't rely on price movement in order to change. For the most part indicators manipulate price data so that it is visually pleasing. therefore the info you get from an indicator is lagging. I'm not saying you can not successfully trade using indicators, I'm...

Somebody must it is an average. If you can't outperform it you should not be trading.

I buy stocks that are trending and hold until the trend ends. Never hold a losing position in your portfolio.

Intra day holy grail; Vad Graifer's "Techniques in tape reading"; No secret anyone can buy the book.