Best strategies to start trading

[farmerjohn1324]

A 50% win rate, even less is acceptable.

Don't you mean 51%?

And for all the time spent, I'd hope you could go for much better.

 

[farmerjohn1324]

I would say anybody who has to post and ask for advice or even discuss their fundamental ideas on a public forum, doesn’t know what the heck they are doing. People who really figured out the key data/fiscal policies that forecast the market’s near future, won’t say anything about it publicly and only give out their ideas to their clients.

That's fundamental analysis. This was supposed to be to find out if technical analysis is even possible.

Do you have good enough results to definitively say that you know what you're doing?

The fact is, even the "best" economists in the world can look at the same data and have differing opinions. That's why not all the FOMC members agree with each other all the time, for example.

 

[themickey]

Don't you mean 51%?

And for all the time spent, I'd hope you could go for much better.

No.
I think about 30% will still be profitable. Don't need more than 50%.

 

[farmerjohn1324]

No.
I think about 30% will still be profitable. Don't need more than 50%.

If you weight for the difference between profit and loss per trade. If you place take-profit at 3x the distance of the stop-loss, then you are 3x less likely to hit it. If it were random that is.

 

[Wheezooo]

The fact is, even the "best" economists in the world can look at the same data and have differing opinions. That's why not all the FOMC members agree with each other all the time, for example.

The best....

Value of Yellen or Bernankes opinion today. = 0

 

[farmerjohn1324]

The best....

Value of Yellen or Bernankes opinion today. = 0

What makes you say that? How do you know what Bernanke has in his personal portfolio right now?

 

[Wheezooo]

What makes you say that? How do you know what Bernanke has in his personal portfolio right now?

I would assume he's comfortable, but not like anyone is chasing him around for his opinion and trading off it.

 

[ironchef]

So you're a position trader?

No, I trade options.

 

[farmerjohn1324]

No, I trade options.

Do you use vertical spreads?

 

[Bernfeld]

I think the best strategy to start trading is Bollinger Bands Breakout. It is not difficult and demonstrates not bad results.