Wow, I couldn't agree with you more regarding "Price ONLY". But 'buy when the market is buying', and vice verse? Yikes - what happened to 'buy low sell high'? And if you don't analyze that, how do you know if you aren't getting in right before a reversal?Price ONLY.... no volume considerations. You don't "predict", you don't have "targets"... you only "react to what you see" on the charts. If the market is buying, you buy. If market is selling, you sell. Not rocket science. (Plenty of challenges, but rocket science ain't one of them.)
How do you do that? Price TA.
KISS, baby.
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- Thread starter tradingpoker
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Is this how you've always done it, or has the national Adderall shortage made it harder to maintain longer hold times?
You never know whether or not you are "getting in" just before a reversal.
Yes, there is "buy low, sell high".... but there is also "buy high and sell higher" and "sell low and buy lower"... which occur on successful breakout trades.
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The opportunity cost, yep. I know that feeling. But I think you drew the line a little too fine there. 1 minutes over 2 minutes? C'mon man.
yea i started to say a day but be nice but then i just usually type what i really think. lol
Is this how you've always done it, or has the national Adderall shortage made it harder to maintain longer hold times?
normally my trades lasted 1.3 days in duration, until 911 then i think everyone's life changed especially professional money managers who not only had to deal with their own losses but those of clients.
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Adding to winners and scaling back on losers, is what the winners do.
The losers add to their losses and cut their winners too quick, is what the losers do.
It's what makes this game so tough, mentally.
Who wants to add to a position on a 1 min chart when you are up tons, most take their profit and miss the real run.
Same way when you are losing, move your stop loss, average down etc etc.
I would care on intermarket correlations.
The market has multiple trends that interact. You can buy high while actually buying low.
I think that is a philosophy that sounds good on the surface but sounds like all it says is use stops to cut your losses, but of course don't use them enough to get stopped out on winners too quickly so you can let them run, lol. End result can simply be traders keeping losses minimal but also at the expense of giving back a lot on trades that have become winners because stops are less aggressive. If a newbie is going to follow that advice, he better have more science behind the decisions than that imho, or the stops will chew him up.
It's probably fair to say it's a function of time frame, where something can be high in the short term but still low in the longterm etc, whatever respective time frames are used.