Don't read my diary

Try to enter trades where you only have to risk 2 - 3% in the hopes to gain 6-12%... or something similar. You don't need to be extremely accurate to be profitable. Taking 8% losses in lower priced stocks is going to lead to ruin or spending too much time being a "break even" trader. Good luck. J
 
Quote from angelina:

So far I've done it on paper 3 times and it's worked every time.

Just so you guys know, I'm not stupid - I do know about odds and percentages. I found this system on thestreet.com where they backtested it over several years and found that it works about 90% of time. I'm just saying that I've been trying it myself on paper and it seems to work while I'm actually following along. A system is only good if you can do it yourself and make your own judgements while a trade is playing out.

Guess I should be more critical of how I write things or you guys will trash everything I say.
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given your background, no doubt your very bright--no disrespect meant.

however, think about 90% accuracy rate---- it's simply impossible to approach anywhere near that figure.

best wishes,
surf
 
While you're catching up on your weekend reading, here's another Journal you should take a look at:

Taking 76K to 500K by Year End

While the author is a good trader, he also has some bad habits which could end-up bankrupting him.

Try to learn as much as you can before, during and after you begin trading live.

Good luck,

JJ
 
While doing some cleaning I came across some of my old Point & Figure materials, the technique is excellent if you are a pure stock trader (I'm exclusively futures).

Here's their thread:

Dorsey Wright

They have a free trial, and it would probably be a good idea to learn how to analyze your positions according to the P&F critiera, when I was trading stocks (uh, years ago), it gave me an extra edge in my positions.

JJ
 
Quote from JimmyJam:

While doing some cleaning I came across some of my old Point & Figure materials, the technique is excellent if you are a pure stock trader (I'm exclusively futures).

Here's their thread:

Dorsey Wright

They have a free trial, and it would probably be a good idea to learn how to analyze your positions according to the P&F critiera, when I was trading stocks (uh, years ago), it gave me an extra edge in my positions.

JJ
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lol.

it gave so much edge that jj quit trading stocks all together.

what 's next? explaining how you make 50 points in the ym every day???

:D

just kidding... i know that's a well kept secret.
 
Quote from asap:

lol.

it gave so much edge that jj quit trading stocks all together.

what 's next? explaining how you make 50 points in the ym every day???

:D

just kidding... i know that's a well kept secret.
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Of course you realize you can't get away from this element here at ET Angelina, so I hope you have a thick skin.

In answer to the question, the power of futures lies in the sophisticated use of leverage, not entry and exit signals, and it's a completely different type of instrument to trade, and not one I recommend unless you've logged many an hour in front of your screens ... and can see what other traders don't.

Good trading,

JJ
 
It's nice to have a female voice around here. This place is plagued by dicks....literally.

I didn't have a chance to read everything in the first posts(they were too long), but I gather you are a very bright, smart and good natured person.

Wish you the best of luck in your voyage.


:)
 
Quote from BlindLemonBoosh:

I just sat down and flipped an Oregon commemorative quarter. Within the first 2 minutes, I had a run of 7 heads in a row. Welcome to 'Fooled by Randomness'! I'd like to recommend a book, if I may: "The Psychology of Judgement and Decision Making" by Scott Plous.

Best trading book I've ever read.
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Thanks for the book recommend. Ordered. Looks like a good one.

I have bookshelves full of trading-related books and they are mostly worse than useless.

One other honest and worthwhile book: Evidence-Based Technical Analysis.

m
 
Quote from angelina:

Tranquility is what I want. I don't think that this is being greedy. I think that this is being reasonable, and i think that this is attainable.

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In my experience, tranquility and trading don't go together.
 
Quote from increasenow:

forget stocks and options...honestly...I'd only trade futures and specifically the emini indexes...so much more movement per day and leverage etc...just my opinion...
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any thoughts on this...seriously..why trade stocks and options when you can do the above quote...
 
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