Difference between newbie struggling trader vs successful trader

[themickey]

The difference is simple - confidence.

This guy was feeling confident....
https://www.theage.com.au/national/...s-in-suburban-road-crash-20191024-p533z0.html

But I'm being a smart ass, yes I agree, if one is well capitilized and trades relatively small size, one can be confident and continually pull trigger quickly. A good stoploss method to protect your assets and it is quite easy to trade with a relaxed and confident disposition. All these little things help to be successful.

 

[notagain]

 

[ElectricSavant]

Nice Article.

I am the "losing player making rational decisions" part of this. This has nothing to do with confidence as results is the dividing use of the "two-edged sword" that determines losers from winners. This is what I like about trading....no conjecture.

I believe however that a rebirth can take place. If enough time has passed between restarts one can become a consistent winner. Senility and forgetfulness helps .

I believe that anybody can practice, develop and learn to "feel the flow" of the trading day. Being a mechanical trader the signals are there...it just which signals to follow and how to exit. Another key is to quickly discover if it's a trending day or a choppy day.

If I could just have enough screentime and actual live trading hours I am convinced I can become a winning & consistently profitable Trader under all conditions. Everything that I am doing now currently to achieve this status is to "survive" and gather those hours.

ES

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[maxinger]

Newbie struggling trader :
He designs his trade plan based on the fact that he must predict the market.

successful trader :
He designs his trade plan based on the fact that market cannot be predicted.

 

[ironchef]

Newbie struggling trader :
He designs his trade plan based on the fact that he must predict the market.

successful trader :
He designs his trade plan based on the fact that market cannot be predicted.

Why is the obvious not so obvious?

 

[SPYAlgoTrader]

Why is the obvious not so obvious?

Newbie struggling trader :
He designs his trade plan based on the fact that he must predict the market.

successful trader :
He designs his trade plan based on the fact that market cannot be predicted.

Newbie struggling trader :
He designs his trade plan based on the fact that he must predict the market.

successful trader :
He designs his trade plan based on the fact that market cannot be predicted.

I am seriously considering printing maxingers quote and hanging it on the wall...

 

[murray t turtle]

Newbie struggling trader :
He designs his trade plan based on the fact that he must predict the market.

successful trader :
He designs his trade plan based on the fact that market cannot be predicted.

%% Exactly;
but a bull market uptrend can giVe one some hints.......................................................................................................LOL+ true. NOT a prediction + does not apply to TSLA or penny stocks

 

[maxinger]

%% Exactly;
but a bull market uptrend can giVe one some hints.......................................................................................................LOL+ true. NOT a prediction + does not apply to TSLA or penny stocks

well. some penny stocks are rather tradable when it is trendy.

trendy - movement is definite, rather organised

untrendy - movement is messy, chaotic, disorganised


In that sense, TSLA is rather untrendy

 

[wrbtrader]

newbie - he tries to predict the market
successful trader - he has already given up predicting the market

newbie - he aims for higher accuracy
successful trader - he aims for mediocre accuracy

Newbie picks up the drunken girl at the street party.

Successful trader picks up the drunken rich girl from the country club.

wrbtrader

 

[maxinger]

newbie trader :
Do not use short term time frame chart like 1 min chart.
It is very very noisy. Use longer time frame chart like hourly chart.


professional trader :
Use 1 min, 5 min or 15 min .... chart depending on market condition.
Or use small, medium or large ... volume chart depending on market condition.