Favorite trading strategies

Quote from whoodi:

Good Day People,

Which strategy would you say is the hardest to master.
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Whoodi,


A trading strategy that does not fit your personality.


Best Regard,
Dave Scott
 
Quote from rgelite:

UT's record speaks for itself. I am not a participant of that chat room, although I did spend two years there some time ago. Yes, I was stupider than most and it took me that long to "get it."

Now that I know how to trade, my style is my own, it is one that does not tolerate distractions of any kind. And thus I now trade without the benefit of any chat room, bulletin board, CNBC, ET, or anything else that may distort my focus during the day.

As to the implication that I'm pimping for them, rather than merely stating my opinion based on experience and taking what I wrote at face value, let's be clear you and I: The word "pimping" in this context implies a financial or other remunerative interest. I have none. Either show that I have and now, otherwise we'll all know your ideas are bankrupt.

I won't speculate as to the solvency of your trading but if your grasp of reality immediately in front of you is this poor, I suspect your negative mood reflects on other aspects of your life as well.

Take care.
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Dude - very eloquent, with a lot of big words.

But, like it or not - there has been a lot of PIMPING for undergroundtrader on ET lately.

And, I stand by my theory that they are trying to get new members, as they have probably burned through most of the old ones. After seeing them mentioned in several threads on ET in the past few days, one grows suspicious.

Don't take it personally. Anyone can do a search of ET and find a mixed bag of reviews, but I think more are negative than positive. I am in the negative camp.
 
Quote from nitro:

There isn't a single chatroom in the world that isn't completly worthless.

nitro
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I respectfully disagree with this portion of your statement.

To you and I and others at this point in our careers, yes, we don't need a chatroom. As I said, to me they're all distractions now.

To a beginner who will listen and NOT jump into each call in the hopes of making a quick buck (the "I just need to make a quick $$ now and then I'll study some more tonight" approach), but a serious student who will watch and watch and watch, I believe the better chatrooms provide a much-needed reference point from where to begin the learning process. Not only for technical methods but also for execution, the "been around the block" stuff that we all have faced if we've been trading for any time.

UT is one of the better chat rooms. Jay's and Russ' methods are solid. Their track record is proven. I didn't say marry the place. I said it would be a good place to learn real-time. Like I did, it's an important part of a trader's education to eventually fly the coop and solo, no matter where one learns.

Nitro, I completely agree with the other portions of your post.
 
Please don't let this new member's first thread deteriorate into a debate over the merits of chatrooms. Please keep it on topic.

Thanks.
 
There are many different methods to trade with. Some work good in different markets, some work good in different time frames. I think you need to tell us what exactly you are looking for, as the road is endless. remember one thing though- the strategy is really not that important. Money management is truly the key. Many people have great methods and yet fail to ever turn a profit. This is due to poor money management. So tell us what you are looking to do. Also if you read Tharps book Trade your Way to Financial Freedom, it might help. The book tells you how to develop a strategy that fits your personality. Then it also goes over stops, taking profits, psychology etc. If finding/building a system is what you are after, I'd recommend you to read this book.
 
Were I to give a good rule I´d change that to

Buy High, Sell Higher

Sell Low, Cover Lower

Top-calling (or bottom for that matter) is for fools and people with low self-esteem in my opinion. But nevermind.




Quote from abogdan:

The only one strategy that ensures max return is:
" BUY LOW, SELL HIGH"
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Quote from whoodi:

Good Day People,

I am new to trading and I was just wondering what are the favorite strategies people use to get maximum returns? Also which strategy would you say is the hardest to master.
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Whoodi, the fact that not a single poster here has discussed the instruments they are trading, indicates that you should take most of this advice with a grain of salt until that is clarified. You will find the same thing to be true when reading most posts on ET, in that traders will give an opinion without identifying what they are trading.

Most traders here fall into one of two categories: stock traders, or index futures traders. Each approach usually/often requires different strategies and money management techniques, and contains subsets. (Example: Stock daytraders or swing traders.) So when one person advises that X works, and another that Y works, this advice is completely useless to you without a discussion of the instruments and timeframes they are trading.

Your first objective needs to be to define WHAT you want to trade, then how best to trade it, in concert with (1) Your personality, (2) Your resources (time and money), and (3) Your goals.

The answer to what to trade, how to trade it, and how it will jive with your goals and resources, is a very complex subject. And this is why new traders need to know that it can typically take a few years to find the path that works, and that is right for you. There are few straightforward answers.
 
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