Don't fall into the fallacy of hard work: you actually make money for waiting.

[Sky123987]

Quote from crgarcia:

Hard work may work in corporate jobs, but not in the stock market.

Statistics don't lie: 70% of people loses money in the stock market, for daytraders 95% lose, for scalpers the figure is as high as 98%.

When its time to wait, you have to wait, there's no way around.

Not everyday there are good trading opportunities.

if there aren't good trading opportunities you might as well find another profession. I place just about the same amount of trades everyday, and it really doesn't vary too much

 

[virtualmoney]

Quote from crgarcia:

Hard work may work in corporate jobs, but not in the stock market.

You are new to the Corporate world, aren't you?

or maybe you belong to this category

'She works hard for the money, so hard for the money,,,'

 

[neke]

Quote from crgarcia:

Hard work may work in corporate jobs, but not in the stock market.

Statistics don't lie: 70% of people loses money in the stock market, for daytraders 95% lose, for scalpers the figure is as high as 98%.

When its time to wait, you have to wait, there's no way around.

Not everyday there are good trading opportunities.

Hard work is still needed to sort out the junk each day to see whether there is a pearl somewhere.

 

[rogersjeff7]

my trading varies, depends on your target market, your risk, lots of stuff. lately not much for me, usually once/week

 

[Lamont_C]

Quote from crgarcia:



Statistics don't lie: 70% of people loses money in the stock market, for daytraders 95% lose, for scalpers the figure is as high as 98%.

Who says so?

LC

 

[quantumrock]

"It was never the thinking that made the big money for me, it was the sitting. Got that? My sitting tight!"

 

[LT701]

Quote from quantumrock:

"It was never the thinking that made the big money for me, it was the sitting. Got that? My sitting tight!"

an 85 year old quote from someone who'd know

 

[Cocaine]

If you dont know what you are doing, the sitting tight could lead to big losses

Quote from quantumrock:

"It was never the thinking that made the big money for me, it was the sitting. Got that? My sitting tight!"

 

[quantumrock]

Readers often mistake "sitting tight" as holding on to a position. But Livermore explained in How to Trade Stocks that this meant staying out of the market.

Quote from Cocaine:

If you dont know what you are doing, the sitting tight could lead to big losses

 

[Cocaine]

I see what you are saying but then the quote doesnt make sense to me. Because staying out of the market isnt a way to make big money. The quote says "it was never the thinking that made me the big money.......its my sitting tight". To me, this implies holding a position you have conviction in. Staying out of the market is a way to avoid big losses but cannot be a way to make big money. See what I mean?

Quote from quantumrock:

Readers mistake "sitting tight" as holding on to a position. But Livermore explained in How to Trade Stocks that this meant staying out of the market.