Food for Thought

[comagnum]

Geez .. Enough already

We must all pay to trade...

 

[vanzandt]

Keep in mind I bash both parties - not only Trump.

As well you should. As well we all should.

 

[BONECRUSHER]

It's a well known fact that very novice traders have a written trading plan. Every published study of day traders shows they make the same types of mistakes as the causal trader/investor does and the vast majority lacked having any sort of trading plan let alone understand risk mgmt, expectancy, risk mgmt, the road to ruin, etc. Most make a plan after having blown up at least once or more.

Of course you can make some big gains when just shooting from the hip, I sure have. I don't know why you find that hard to believe. I have known many non-traders that have made some big gains in a short time frame - the hard part is keeping it.

I guess I envisioned a "non-structured" trader as someone with a lot of small wins and a lot more small losers or a lot of big losses. When you say "non-traders" with big gains I may agree with that. I know people who didn't know jack shit about the markets, but they bought Facebook or Tesla at a lucky time...only cause they've heard of these stocks being mentioned a lot...no other reason!

 

[timeconscious]

Interesting topic

 

[heypa]

Here goes my two cents worth,The lucky guy that bot Tesla was lucky he didn't have a trading plan. If he had it would not have permitted him to purchase Tesla.When you develop your trading plans you are developing a plan that really limits your ability to see most opportunities the market provides.When the hunter gatherer set out to kill his dinner he didn't tell himself I'm gonna kill a rabbet he more likely said to himself " I gotta kill somethin to eat tonite.
When hunting in the market stay open to whatever the market indicates might be available and take it. If it does as you expect. Keep it a while.If it doesn't dump it.