what does 488.00 of stock mean
Am I good or just lucky
- Thread starter BDGBDG
- Start date
Just a little saying that is pretty apt. for the O.P.'s situation...
Don't mistake a bull market for brains.
Believe me, many people between 1999-2001 made this mistake.
I am happy for you, honestly, and hope you use your success thus far as an inspiration that YOU CAN MAKE MONEY in the markets trading. With that said, I would take the time to research and enhance your overall market knowledge and savvy.
I hope you decide to stay profitable!
Don't mistake a bull market for brains.
Believe me, many people between 1999-2001 made this mistake.
I am happy for you, honestly, and hope you use your success thus far as an inspiration that YOU CAN MAKE MONEY in the markets trading. With that said, I would take the time to research and enhance your overall market knowledge and savvy.
I hope you decide to stay profitable!
Am I good or just lucky ?
These two walk usually hand in hand.
These two walk usually hand in hand.
Stupid is as stupid does.
Maybe as long as your instinct is in sync with the market flow. But more often than not your Ego will soon interfer with your instinct, and you will give back more than what you made with your luck.
Using instinct and tape reading in trading the market is quite a dangerous strategy. Looks like your trying to outsmart the market, don't you? We'll the market has always a way of punishing those who try to outsmart and stand on its way.
The market will always tell you not to rely on your instinct but rely on some difinite trading system proven through a rigorous back-testing. And not only that, the market will soon tell you to fasten your setbelt before you take a ride, just to ensure survival when you take a wrong turn.
Having a difinite trading system is just half of the story, the other half is establishing your strict trading rules, through which you can develop your discipline as a professional trader..... <samuraiitrader>
Using instinct and tape reading in trading the market is quite a dangerous strategy. Looks like your trying to outsmart the market, don't you? We'll the market has always a way of punishing those who try to outsmart and stand on its way.
The market will always tell you not to rely on your instinct but rely on some difinite trading system proven through a rigorous back-testing. And not only that, the market will soon tell you to fasten your setbelt before you take a ride, just to ensure survival when you take a wrong turn.
Having a difinite trading system is just half of the story, the other half is establishing your strict trading rules, through which you can develop your discipline as a professional trader..... <samuraiitrader>
I can absolutely say that you are only lucky and not good. I say this because I was you back in the 1997 -2000 Nasdaq explosion where I managed to take 20K to 150K and ended up losing every dime because I thought I was smart. After that i knew I was only lucky and have spent the last five years studying. Please learn from my mistake and take some money off the table and study first.
You have style and you are reading the tape and watching the news. Also I am sure you knew a little bit about market when you got in. But I should tell you most new starters make money at the beginning but that is not all good because you might come to the belief that market is a place when you always make money and losing money is just a fairy tale!! But soon the reality kicks in and you lose a lot. I suggest you to keep trading but at the same time put some rules to limit possible losses and learn. By they way by learning I don't mean the knowledge of regulating the market how the market will react. Instinct is better than that kind of knowledge. By the way I would like to tell everyone what happened after MSFT came out with their numbers a few days ago. Just after 2 minutes after their numbers, Marketwatch's main page title was something like this " Microsoft misses the target and revenue and something like that that had negative sentiment but when MSFT started to go up, they changed their title to something like this " Strong result by Microsoft ....."
Conclusion: Market reaction makes the news and news does not cause market to react.
Conclusion: Market reaction makes the news and news does not cause market to react.
yes, lots of people have done this and think that they are "the choosen one" the next market wizard. I was there too.
The biggest mistake you can make right now is to say to yourself "i am smart, i know what am doing, and am going to increase my size and profits".
Dont go for the quick money...luckily for us there are good oppotunities to make money in the markets EVERY DAY for the rest of our lives. Figure it out for a year...then increase lot size.
suerte!