5 Things I have learned in 5 years of trading!

[Scataphagos]

I am saying that there are likely thousands of very successful traders out there that would disagree with that absolute assertion.

One problem with trading is the belief, "it's all random". Well, most of it is random... but not all of it.

 

[sebking1986]

I still don't think you can make that claim. If they are finding success in the long term using another method then there has to be "another right". I don't think trading isn't as absolute as physics or chemistry.

 

[sebking1986]

One problem with trading is the belief, "it's all random". Well, most of it is random... but not all of it.

Ah see I don't think for a second it is random. But a broken clock is right twice a day as they say.

 

[sebking1986]

This could be a thesis topic.

It would certainly be an interesting read!

Heading out but happy to pick up later! Nice to chat to you.

 

[Scataphagos]

It would certainly be an interesting read!

Heading out but happy to pick up later! Nice to chat to you.

I still don't think you can make that claim. If they are finding success in the long term using another method then there has to be "another right". I don't think trading isn't as absolute as physics or chemistry.

Well Grasshopper.. follow my posts and if you change your mind you can send me a case of Guinness!

 

[volpri]

Scat just slap the correlations out there for all to see and test. It shouldn’t damage your edge, I wouldn’t think. LOL

 

[murray t turtle]

Writing things down helps. You are more likely to do something you have committed to paper.

Have a written plan so that you know exactly what you will do in every situation.

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Exactly.
Mike Masters /Marlin Fund noted the same thing.
ACTUALLY you dont need ''price action'' to profit real well in real estate. BUT looking @ that sellers market lately\ easy to get ripped off,now, if havent studied plenty of written[closing ] price data......................................................................
''Always get it in writing son'' my banker dad told me a lot, as a kid/still true many years later Ive also learned taking a profit in AUG\SEPT is a good idea; even though ''Old Turkey not wanting to sell in a bullmarket=OK also,''

 

[GotherL]

What else have you all learned in your time trading?

I've learned that daytrading is too risky and doesn't suit my personality.

 

[Swiss_cheese]

Agreed that it is certainly not a get rich quick scheme! Some good points in here.

Also, you can not buy experience. Time in the markets is one of your most valuable assets.

 

[padutrader]

price action and risk management.

agree

just trade sensible size is my idea of risk management.....nothing fancy [risk management] but size is all important to me.......not too small or big.

maybe it is a get poor fast scheme.

i have also learnt that many times no trade is the best trade........there are many times discretion is the better part of valor: patience and waiting for clarity and for the market to show ' it's hand ' is important or critical