Best strategies to start trading

[MercForHire]

Actually you sir did that yourself. I was extremely impressed with your results. In fact, you did > 40%, in your non discretionary trades.

On paper/sim.

Haha it’s not real and relies on perfect execution.
I started on a micro live trading today and broke even. It was a choppy day so even my system only managed 13 points, 8 trades. I did slightly worse live because of a losing rogue trade.
Recent low volatility days are excellent for practicing risk management.

 

[MercForHire]

I have spent over a decade educating myself about the economy. Despite all of this, I have come to realize that when you enter a trade, it is somewhat similar to spinning a roulette wheel. There is no way to actually know what will happen in the future. I have a business that makes returns between 40-60% usually. So the only way for trading to be worth my time is if it's leveraged trading such as currency pairs, options, or futures.

To give examples, just in September, everyone (including the "best" economists in the world) are saying an upcoming recession is practically a guarantee. Now just 3 months later and they are saying the opposite.

What are the best strategies to use to try to get high returns, but hedging risk if I guess wrong.

I am of the opinion that technical analysis is not reliable. Can anyone change my mind on that?

I have a practice currency trading account and a practice options account. So I have seen the potential risk and reward. For example, on Thanksgiving night, I put $100,000 fake dollars buying EUR/USD. I would have profited $50,000 right now, and a couple days ago it was at $75,000 profit.

If you want to swing trade/invest in the market, you need to know the fundamentals. And no you do not get the the correction info from mainstream media. Talk to me privately and I’ll share someone I follow who makes sense and been tell me to buy the dip every time since last December.

 

[padutrader]

I’ll share someone I follow who makes sense

why the secrecy.......let everyone benefit......in my experience there is no one who is right all the time....
you should know what to do, when he is wrong and most people cannot admit, especially to themselves,that they are wrong.
that is why trading is such a challenge on a psychological level

 

[MercForHire]

why the secrecy.......let everyone benefit......in my experience there is no one who is right all the time....
you should know what to do, when he is wrong and most people cannot admit, especially to themselves,that they are wrong.
that is why trading is such a challenge on a psychological level

I don’t want to be a shill for the guy and his opinions aren’t popular with the public... until the public is proven wrong but they will keep mocking his new predictions.
He uses MMT(modern monetary theory) and applies it to trading.

 

[ESgambler]

I know that if my trading is successful and I am making $5k+ a day. The last thing I want to do at night is post on a trading forum, unless I am there to sell something. If i want to brag/troll, there are better places to do that.
I have never posted on a software development forum in my 6 years career and I don't see why I want to post on a trading forum if everything is working out well.

Well, trading full time is a lonely business bc you might sit for hours to wait for the right opportunity to trade sometimes. In the meantime, you can take a walk, play video games, watching movies or masturbating. Other times, you want to go to forum like this one to interact with people or helping newbies by pointing them to the right direction without revealing your edges.

I've been travelling on and off for years to asia countries taking care of my family business and am currently living here for years. There are lot of things to do here during free time, but then you'll get bored of those things after period of time. Unless you are the kind of guy who likes to cheat on your wife, then yeah there are tons of night/dating clubs with hot chics you can bang them night after night to kill your free time.

My overall point is you might want to do random things to kill your free time while dealing with your lonely life as a full time trader which you haven't been there yet.

 

[Nobert]

,,Thanksgiving night, I put $100,000 fake dollars buying EUR/USD. I would have profited $50,000 right now, and a couple days ago it was at $75,000 profit."

That's anything but enough.

Collect one or two years of data, with 5000 - 10 000 trades.

Then look at the best 50 trades and worst 50.

Similarities and patterns.

What to do more often and what to stop doing.

 

[padutrader]

I don’t want to be a shill for the guy and his opinions aren’t popular with the public... until the public is proven wrong but they will keep mocking his new predictions.
He uses MMT(modern monetary theory) and applies it to trading.

not surprising he is not popular.
the oldest of techniques still work such as the moving averages...but not the cross over.
maybe because it is trend following and that never goes out of fashion

 

[farmerjohn1324]

,,Thanksgiving night, I put $100,000 fake dollars buying EUR/USD. I would have profited $50,000 right now, and a couple days ago it was at $75,000 profit."

That's anything but enough.

Collect one or two years of data, with 5000 - 10 000 trades.

Then look at the best 50 trades and worst 50.

Similarities and patterns.

What to do more often and what to stop doing.

So far luck is the common denominator.

 

[ironchef]

Haha it’s not real and relies on perfect execution.
I started on a micro live trading today and broke even. It was a choppy day so even my system only managed 13 points, 8 trades. I did slightly worse live because of a losing rogue trade.
Recent low volatility days are excellent for practicing risk management.

How were you able to execute a rogue trade in a non discretionary system?

 

[MercForHire]

How were you able to execute a rogue trade in a non discretionary system?

I misread the signals at one point, I have a set of indicators that must all agree on 3 timeframes(1,2,3 min), I pulled the trigger on a trade that only had 1 and 3 min signals line up thinking it was going to work. Turns out the price reversed and stopped me out. Bad luck and shouldn't have taken the trade in the first place.
I have to very calm and treat trading like playing a game of following signals, not making $.

I would be careful trading this month. With the lack of news events and upcoming holidays, I expect a lot of choppiness in the next few weeks. It's typically difficult to trade when the price is crawling into new ATH day after day. Best trading days are usually when the price is right in the middle of R/S trendlines for a long term daily chart(IE: August-September, May-June).