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lovethetrade
I fixed it for you.
Best strategies to start trading
- Thread starter farmerjohn1324
- Start date
I fixed it for you.
Post #41 contains enough info for one to trade successfully.
Regarding TA, it just provides visual representations of what price is doing. That's all it can do. Does one need a road map to drive somewhere? Not really but it helps.
Time frame doesn't matter, underlying doesn't matter.
Price on that chart clearly started a down trend (if you can't see it naked, the moving averages will guide you) enter on the pullbacks (if you can't see it, the stochastics will guide you).
You will need a few personal attributes in order to successfully trade-this or any other setup. Patience for IT to show up.
Fortitude to take every setup.
Money management to win at least a skosh more than your losses. Win $1.25/lose $1.00 55% of the time and you're fine.
Regarding TA, it just provides visual representations of what price is doing. That's all it can do. Does one need a road map to drive somewhere? Not really but it helps.
Time frame doesn't matter, underlying doesn't matter.
Price on that chart clearly started a down trend (if you can't see it naked, the moving averages will guide you) enter on the pullbacks (if you can't see it, the stochastics will guide you).
You will need a few personal attributes in order to successfully trade-this or any other setup. Patience for IT to show up.
Fortitude to take every setup.
Money management to win at least a skosh more than your losses. Win $1.25/lose $1.00 55% of the time and you're fine.
TA works.....if you know how to use it.
maybe other things work too.
maybe other things work too.
strategy is a very limited use.....you are limiting yourself to one type of situation.
you have to understand market action....how the market moves.
market does not change direction easily....it takes time and it does so gradually. you have to understand and know the process of this change in direction.
instead of wasting your time asking rhetorical questions here put on a chart of any time frame and if you press the key F12 on some computers it moves the chart bar by bar so you may see the historical market one bar by one bar almost as if it were a live market.
do this for hours and hours and you see how the market moves.
Trading (frequency is subjective) can be done effectively with TA and trend following. I started out scalping and burned out of it due to intensity. Here is the framework of what I now do. Weekly chart of boring old dividend stock. (T) 20/50 SMA
Long 20 above 50, on the sidelines when 50 above 20.(move on to another ticker)
Collect dividends, check weekly, beat market returns. No commissions (practically), can check a 100 tickers in very short time over the weekend. Good luck. (cherry picked an illustrative time period, there will be whipsaws [nothing's perfect])
Long 20 above 50, on the sidelines when 50 above 20.(move on to another ticker)
Collect dividends, check weekly, beat market returns. No commissions (practically), can check a 100 tickers in very short time over the weekend. Good luck. (cherry picked an illustrative time period, there will be whipsaws [nothing's perfect])
put that on achart and go back to a past period and keep pressing the f12 key to move it bar after bar.
then you will know what to expect.
you can see the market progress bar by bar
you can trading daily charts to start with.
i traded futures on daily charts.to start
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strategies can be developed but if you can understand how the market works you will make 400% a week........
the latter is far more 'difficult' but some persons learn to be fluent in something difficult like golf or Chinese language or cooking or medicine or engineering .....faster than others
that is where the treasure is.
it took me 12 but ....
the latter is far more 'difficult' but some persons learn to be fluent in something difficult like golf or Chinese language or cooking or medicine or engineering .....faster than others
that is where the treasure is.
it took me 12 but ....
to be a great trader you have to understand how to manage the lean periods and survive these.
you are a businessman so you understand this mentality already
Yeah, trading ain't healthy.
so is face book and social media
but there is a lot of good to both