Few Set up's?

[white]

Fellow traders,

How many of you only trade one or two type of set up's?
And these set up's only appear once or twice a day. Sometimes they may not show up at all. This is where I am after more than a year of trading. I find this very boring and hard to stick too. But when it appears there is a very high risk/reward ratio and very high probability of success. Just curious if other’s trade very few set up's that don't appear often.


White

 

[Brandonf]

Trading is a job, its not always the funnest thing I have ever done. I definatly find that people who try to be the jack of all trades are really the masters of none, and as a result never do very well. Most of the best traders I know have a few things they do over and over again. When those things are not available traders wait while Ex-traders did not.

Brandon

 

[stock777]

The set ups work precisely because they are rare.

 

[dbphoenix]

Quote from white:

I find this very boring and hard to stick too.

The consequences of taking those iffy trades solves the boredom issue fairly quickly.

I guess you could say I have only two - breakout and reversal - but several within each of those categories. However, each one has to be right. If I have to wonder whether it's really right or not, it usually isn't, though sometimes I'm not sure simply because I'm tired, which is reason enough to quit for a while.

--Db

 

[fourcups]

Quote from Brandonf:

Trading is a job, its not always the funnest thing I have ever done. I definatly find that people who try to be the jack of all trades are really the masters of none, and as a result never do very well. Most of the best traders I know have a few things they do over and over again. When those things are not available traders wait while Ex-traders did not.

Brandon

I agree with brandon.Trade what you know and stay within yourself!

 

[Banjo]

Dude, please stop spelling definitely as definately. It brings back memories of a particularly nasty Nun with a wooden ruler on my pre pubescent knuckles.