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A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
Quote from Softgiant:
thanks for the opinions, I am trying to find out what works best. Today I lost two trades, $20 risk each(again still learning) Made 2 stupid mistakes. didnt stick to the system etc.
Work in progress, but thanks for the suggestions
Two things that show you are doing something right, and probably something 90% of all traders DON'T do:
1. Only doing 2 trades.
One of the hardest things for all traders is to not over trade. Taking only 2 trades shows that you have self control.
2. Risking only $20 per trade.
This shows you are willing to take the time to learn and take small losses (and you will have losses) while you learn. Most rookies come into trading a start w/ a 200 or more max loss per trade and burn right through their account.
Just doing these 2 things will keep you around a lot longer than 90% of most beginners.
Rory looks so hot in this episode!
Quote from nicbizz:
ok, I have a feeling it has nothing to do with trading but WTH is an SLF??
SLF = Special Lady Friend, a unique creature of the night Geez collected like GI Joe dolls. Last count was 4 or 5, or 20. I don't remember.
It was ironic Geez posted as I had just finished reading all 300+ pages in a 24 hour period a few days back, and missed both his insight, abilities, and commentary on SLF's etc.
Glad to see he is still around, lurking, printing money, and loving life. This is a thread for the ages.
Cheers!
Quote from Softgiant:
geez,
thanks for the feedback...how do you go about picking a strong stock vs a weak stock? do you just measure its performance against the s&P? If so how long of a time frame do you use?
Or do you look for a trend fo some sort?
Everything I do stems from the daily chart of each stock and the S & P. If a stock has a nice uptrend on the daily chart and intraday is strong (like AAPL) I will look for a buy set up on that stock on the 5 min chart. Same for weak stocks ....if a stock is in a nice downtrend on the daily chart and intraday is weak (like AKS) I will look for a short set up on that stock on a 5 min chart.
The only time this does not apply is when the stock is extremely extended in one direction on the daily chart, then I will play it for a 1-2 day move in the opposite direction (like UIS) before going back to the overall trend (as in UIS, lower).