Can I pass this one time?
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- Thread starter rin4et
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That is the basics of charting hello! That is like sitting in math class for two years and not knowing basic arithmetic. And don't put words in my mouth I never said anything about catching the entire 20% move. I only said if you can't catch a small fraction of that move you have no business calling yourself a trader. And I stand by that statement. I can't believe people are debating me on this. That shows the level of this forum.
It is like going on a musician's forum and saying if you can't play basic chords you have no business calling yourself a musician. I bet you most of them would agree with me.
Anyway sincerely all the best to you guys!
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Likewise, don't say I said what I didn't say.
OK! Now we're getting somewhere! So, the stock is now up 10%. How do you know that it will later in the day be up by 20% so that you can safely buy now and take 1%??? You said "That is the basics of charting". Now the basics have been around since markets began, so it should be no big secret. We'd really like to know!
And as you said, "And I still stick to my original statement, if you can't catch 1% out of a 20% move intraday, you have no business being in the market. You might as well roll up your strategy and throw it in the trash because if it can't get you 1% out of a 20% move intraday then it is worthless."
So, while trading one's plan, the trader may capture 1% of a 20% move. But to say that just because WXYZ moved 20%, it's a foregone conclusion that any trader of worth must be able to profit from the move is not realistic. And what if within that 20% move there is no set up that fits your plan? What do you do then? Close you eyes, hold your nose and take a trade?
Whatever, please ignore what I said above. I wrote all that just to practice my typing..
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You do not know by exactly how much % it will go higher. It could go higher by 20% or 38% or 43% that is difficult to say in advance. That is why I didn't say anything about catching the entire move but only a portion of it. But you should know that it is going higher because XYZ leaves signs on the chart.
The main point is that XYZ does not go higher due to the "force of nature" or "the power of God". It goes higher because there are traders on the other end betting their hard earned money and sometimes huge sums of it. They will never do that unless there are clear signs it is going higher. So if you can't read those signs I am sorry to say you do not understand the language of the markets.
And if the move is highly liquid or a high volume move it always always has setups. To date I have never seen a single one that didn't. Why? Because other traders are trading it as well.
Yes I am not talking about a low vol spike on a thin stock. If you miss that it is ok and it is wise to not trade those anyway.
But if a trader misses a significant run on a high volume move that means he was either asleep on the job or he doesn't know the abcds of the language of the markets. And if he catches the majority of the move consistently then I will call him a pro!
OK, I'll take your advice and get some material to study up on the language of the markets. In fact, I'll put that request in my letter to Santa right now!!
Only makes sense if that trader is working for a firm and has a trading desk at the firm.
In contrast, you've joined a forum with mainly "retail traders"...as in at home traders...part-time or full-time or trading when not at work.
Therefore, retail trades are very prone to "missing a significant run" due to natural things such as medical/dental appointments, home distractions from the family, other type of appointments, vacations with spouse or family and many other things.
Heck, someone here was telling me in pm that they missed the last big intraday run in EuroFX 6E futures because they where cutting their grass that had grown too long.
Simply, if I meet someone that states they are a "retail trader" and he/she states they were able to trade during "every significant run on a high volume move" would seem strange to me even if he/she explains he/she is single, no friends, stays at home all the time and monitors the markets 24/7.
Also, why do you keep starting threads at a public forum and then telling people not to talk...seems like a big contradiction to me and a tactic used by others here in the past that have poor communication skills ?
I ask that question because you've done this before in your trade journal thread @ https://www.elitetrader.com/et/threads/my-live-trading-journal.311517/
Just start a blog or free website and make the same requests...you'll get what you want without anyone having an opportunity to post commentary. Heck, you can even decide which commentary is allowed to be posted because you'll essentially be the moderator.
Therefore, if you're truly looking for a pro...go shop around at an institutional trading firm and not at a public forum filled with "retail traders".
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What a retarded post. I was obviously not talking about people who are not in front of their computer. I was talking about people watching the screen and missing a move. Don't try to play dumb this discussion is not about those cutting grass during market hours. Shows the level of this forum.Only makes sense if that trader is working for a firm and has a trading desk at the firm.
In contrast, you've joined a forum with mainly "retail traders"...as in at home traders...part-time or full-time or trading when not at work.
Therefore, retail trades are very prone to "missing a significant run" due to natural things such as medical/dental appointments, home distractions from the family, other type of appointments, vacations with spouse or family and many other things.
Heck, someone here was telling me in pm that they missed the last big intraday run in EuroFX 6E futures because they where cutting their grass that had grown too long.
Simply, if I meet someone that states they are a "retail trader" and he/she states they were able to trade during "every significant run on a high volume move" would seem strange to me even if he/she explains he/she is single, no friends, stays at home all the time and monitors the markets 24/7.
Also, why do you keep starting threads at a public forum and then telling people not to talk...seems like a big contradiction to me and a tactic used by others here in the past that have poor communication skills ?
I ask that question because you've done this before in your trade journal thread @ https://www.elitetrader.com/et/threads/my-live-trading-journal.311517/
Just start a blog or free website and make the same requests...you'll get what you want without anyone having an opportunity to post commentary. Heck, you can even decide which commentary is allowed to be posted because you'll essentially be the moderator.
You've already "dumb this discussion" when the thread was started.
As stated...this is a forum for "retail traders". Your debates with retail traders most likely will result in you being "ignored" by the few working as professional traders that you seek because they only want to deal with someone that's professional.
Hopefully you'll realize why you're getting replies that you obviously don't like at a forum you don't like.
Wish you luck here at ET.
This is getting funnier with each post. Don't know where to start : try carry out your instructions for a few days yourself and post the results? Or is this a case of a stay-at-home mum telling the man that toils every month to bring 5k home "why can't you make 100K a month? Every one is doing it. Look at Jeff, what does he have that you don't?"
You probably wanted to say: what a retarded thread.
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