Hey....whoever is in nyc....pratorian2 just put up a thread.....this friday get togther if anybody intrested.........chris
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Chat Rooms - Trading oriented...
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Likewise Rigel... my chatroom is free too, and is a bunch of friends hooked up by microphones... I pulled in 3 big ones this year with zero chatroom costs.
Candle, I am wondering if the others had similar results to you in percentage terms. You are all sharing the same information, so the variance in results might be a good indicator of how important the 6 inches between the ears is to trading success. Would you care to share some details in this regard?
Hi ol'buddy,
What do you have the McDonald's headsets on or what?????
PS Can I join?
Also, what do you mean you "pulled in 3 big ones"?
What do you have the McDonald's headsets on or what?????
PS Can I join?
Also, what do you mean you "pulled in 3 big ones"?
Originally posted by candletrader
Likewise Rigel... my chatroom is free too, and is a bunch of friends hooked up by microphones... I pulled in 3 big ones this year with zero chatroom costs.
Good work Candle 300k is great........
what kind of size do you usually trade with
how many trades on avg day ?.........
do you scalp or swing trade ?
how many positions do you hold at one time ?
What do you attribute your success in 2001 to ?
What are things you felt you did right and what would you want to change in 2002 to better your income ?
Would you care to share your methods & criteria with the other members or share with them your ideas on what they need to do to have your results ?.........
I am always intrested in seeing & hearing what others do ........
if you dont want to share thats fine, no biggie ,but it would be nice if you did as I am sure many people would be able to learn from your successes..........
again, you did great in 2001 & hope your enjoy the last few hours of it before we all start at 0 again........
I am ou of here, tiime to party.........!
Chris
Originally posted by Chartwiz212
a) what kind of size do you usually trade with
b) how many trades on avg day ?.........
c) do you scalp or swing trade ?
d) how many positions do you hold at one time ?
e) What do you attribute your success in 2001 to ?
f) What are things you felt you did right and what would you want to change in 2002 to better your income ?
a) 1000 - 10,000: a cheap stock deserves more than a pricey one
b) zero to 10 round trips intraday (which include swing trades)
c) loads of styles: momentum scalping, intraday sector trading (similar to Hitman), swing trading (up to a few weeks... Tony Oz set-ups mainly)
... regardless of scalping or swinging, unless the styles have specific antitrend set-ups (e.g. Oz Skyscrapers), all styles trade with the trend (higher highs, higher lows).... Trading Technique is the least important part of this game, as long as it is sensible.... however what IS important is a willingness to be flexible amongst the plethora of techniques
d) no more than 1 scalp position at a time... no limit on the number of longer term positions
e) success in 2001 was due to adaptability and willingness to trade all styles.. also a greater willingness to short than during the bull market
f) I became more egoless and detached from money... I became more at one with the reality of price movements... I still need to work on my psychology... my New Year resolution is to buy Trading in the Zone by Douglas and introspect for weakness identification, in order eliminate them. Psychological development is key, I am convinced. Psychological development to a higher degree will allow me to better:
1) trade with trend (or other antitrend entry criteria)
2) cut losses
3) run profits
Those 3 things are key and are what trading boils down to... nothing more, nothing less
... psychological development is the only way I will become better at them.
Originally posted by dufferdon
Candle, I am wondering if the others had similar results to you in percentage terms. You are all sharing the same information, so the variance in results might be a good indicator of how important the 6 inches between the ears is to trading success. Would you care to share some details in this regard?
% wise, to be honest, I don't know... but we all came out pretty well. Trading techniques are useful but, in all cases, the 6 inches between the ears are more useful... not in terms of intelligence, but in terms of emotional discipline.
I can recommend:
The Disciplined Trader: Developing Winning Attitudes
by Mark Douglas
My New Year resolution is to have mastery of:
Trading in the Zone : Master the Market with Confidence, Discipline and a Winning Attitude
by Mark Douglas