Read this:
http://www.priceactionlab.com/Blog/...t-capitalization-is-primary-cause-of-failure/
more than once and try to understand what he is talking about. If you don't understand it or don't agree, chances are you will not make it.
Becoming a Successful Trader
- Thread starter LetItRide
- Start date
Read this:
http://www.priceactionlab.com/Blog/...t-capitalization-is-primary-cause-of-failure/
more than once and try to understand what he is talking about. If you don't understand it or don't agree, chances are you will not make it.
I agree with oraclewizard77! you should follow your own rules, and two things you should keep in your mind while trading,
* You do not enter any orders, that are to be filled after market opens or before the market opens.
* Secondly, You should wait 5 or 10 or 15 minutes and then enter your orders.
* You do not enter any orders, that are to be filled after market opens or before the market opens.
* Secondly, You should wait 5 or 10 or 15 minutes and then enter your orders.
I think this requires a very individual answer. Every trader has their own strengths and weaknesses. I would say the most important characteristic is to find yours and work to correct that. E.g., I think mine was money management - cut your profits short and let your losses run! So when I chose a new moniker, I chose cashcarewins to always remind me to honor my stops and everything else will take care of itself.
Good luck.
fka SPTrader (1987-1990)
If you really want to make big money via stock markets, learn how to do insider trading without getting caught. Everything else is hogwash.
The importance of spending as much money as possible on seminars cannot be overemphasized. The more expensive the better. And if they call themselves "mentors," you know you're well on your way to Easy Street.
Learn as much as you can about every posssible indicator that has ever been developed and try to use them all at once. If price gets in the way on your chart then just delete it and replace it with another indicator. In fact, why bother with price at all when an indicator can do the job almost as well?
Focus on the most arcane of chart patterns, on which you should bet big. The more complex and convoluted the pattern, the more subjective will be its interpretation, which is your guarantee of success.
Read how everyone else trades here on ET and then try to reconcile all of these diverse approaches into a unified whole. It may take a lifetime to do so, but it will be a life well spent.
Always choose the complicated over the simple. And if there should be any mysticism thrown in, then so much the better. Remember, trading is all about specific price prediction. It is about seeing into the future. Accept no substitutes.
Follow and copy trades posted in journals by attention seekers who want nothing more than your adulation. For now. The less they tell you about how they trade, the more you should seek to ride on their coattails. That's how it's done.
And if ever in doubt when confronted with alternatives, always, and as a matter of course, choose the more expensive one.
Champagne wishes and caviar dreams.
gabfly - rather than acknowledge that you are right re my comment about 1^infinity=1, I think I'll engage in personal attacks and baseless accusations until this thread is totally useless
lol your comment reminds me of a tv show when a math tutor said to a student "what do you get when you multiply two negative numbers?" and he said "a really big negative".
lol your comment reminds me of a tv show when a math tutor said to a student "what do you get when you multiply two negative numbers?" and he said "a really big negative".
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GY;
Thats such a ''high %% of sarcasm'';
good job [meaning i disagree with it all.]
Except, good point about learning every indicator;moving averages like 50dma...........................which underlines /overlines price
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Like you do in Pakistan ? .
