Frustrating to Buy Tops & Sell Bottoms

Hey im new here, been studying for the last year not that intensive because i use to work now i am unemployed so i can dedicate myself to study and look charts all they long but i really want to learn this art of trading, sometimes i have good days and then bad days, but i feel i don't have a plan or a system; sometimes i catch some breakouts that i kind knew they were coming, but i feel myself all over the place like i don't have a strategy, been looking for information on how to create a plan but i don't find anything,
any thoughts or advise i will appreciate it. Thanks
 
Centuria100 said:
Hey im new here, been studying for the last year not that intensive because i use to work now i am unemployed so i can dedicate myself to study and look charts all they long but i really want to learn this art of trading, sometimes i have good days and then bad days, but i feel i don't have a plan or a system; sometimes i catch some breakouts that i kind knew they were coming, but i feel myself all over the place like i don't have a strategy, been looking for information on how to create a plan but i don't find anything,
any thoughts or advise i will appreciate it. Thanks
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Yes, your response is normal.
Keep plugging on a few more years.
 
KCalhoun said:
We've all done it.... how do you deal with it??
Example: I stopped out of most of my remaining inverses yesterday. At the bottom.

Of course today they skyrocketed largely without me. Frustrating!

My solution was to re-enter small size this morning UVXY etc..

In poker it's called a bad beat.

Got a buy top or sell bottom story? Let's hear it! Thanks
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%%
Buying @ top can work well with good uptrends.
MY 15% loss on SPXS turned into about 9.44% loss [buy spxs @$5.15 , days ago, market exit about $4.60 today.Funny now that i'm out/not funny while in it/LOL
So longs can profit / buy hi/even though UPRO/spxl has not trended anywhere near 100% like in 2019.
I'll remind you+ myself of something you know; cant run stops/because we think it ''may turn around '' sometimes it doesnt turn+ that would be a monster LOSS/terrible.
I printed off a ERY chart/up rocket from $48 to 380 +/in one month; down 50% in one week.No one can afford to ignore stops in 2x inverse or 3x inverse
 
Just some very basic thoughts on trading.

How does a trade make money? - If the trade is a long and price rises.
How do you find a trade where the price is (probably) going to rise? - Price is already rising.
 
I shorted Amazon around end of august 2018. . It was going parabolic so i was pretty sure it was going to top out any time and drop hard. I knew it could go slightly higher but thought i would do fine with 10x leverage.

It did one leg more and i ended up being liquidated at $2050-$2055/AMZN - the very top. Didn't even reach that high on nasdaq.

I didn't really have a quantifiable setup nor edge for the trade. Never got liquidated the same way again, but got my ass fucked often trying to short the top or buy the bottom on tight stops high leverage, it would make one more leg and i would end up being stopped into the actual top/bottom and then see the price go my way. When you are so close to making it big, but you actually end up losing... That's very frustrating, lol.

Lesson learned is that if you are using big positions/tight stops/high leverage, you really need a quantifiable setup with edge or you are guaranteed to lose, no matter the outcome.
 
orbit23 said:
Lesson learned is that if you are using big positions/tight stops/high leverage, you really need a quantifiable setup with edge or you are guaranteed to lose, no matter the outcome.
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Absolutely. These kind of positions usually require small profit targets and frequent trades.
They also must have a high win percentage...at least 60% and preferably higher.
 
Outstanding comments from all -- your insights are smart!

I'm finding death of a thousand small cuts frustrating lately for swings, hopefully CGC PFE move.
 
KCalhoun said:
....I'm finding death of a thousand small cuts frustrating lately for swings, hopefully CGC PFE move.
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Reviewing the mkts over the weekend, my conclussion, it's toppy but safe, I doubt we are going to see a major selloff. The last week has seen exhuberance again which can be dangerous but I think going short will be more dangerous.
Oil stocks are rebounding, looks like a new runup underway.
Same with coal which has been in the sin bin for a while, it looks like it's turned the corner.
Both old fossil fuels.
Lithium imo is a good mkt bellwether.
 
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