How to succeed in stock trading?

Quote from JoePaterno:

um, no. you need to backtest different stop sizes (on a % basis)and see how your overall performance is. All this blind recommendation does is give you a lot more small losses.
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I am not referring to stop size in price terms.

I am referring to stop size in % of account terms, position-sized to whatever price based stop makes sense.
 
Quote from athlonmank8:

A legitimate edge.

Low commissions

Small stops (already stated)
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Stops must not be small, they just need to be smaller than the reward, assuming the accuracy is not superbly high.

Nevertheless, saying stops must be small is in my opinion and incorrect generalization.
 
Quote from Nexen:


Nevertheless, saying stops must be small is in my opinion and incorrect generalization.
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exactly. Arbitrarily picking stops is not a proven method. Many studies have shown that small stops can sometimes really hammer profitability. You should backtest stop sizes with your own trading methods to find stops that make sense.

It is about Risk Adjusted Reward, not Grandma's 15 untested trading rules, beliefs and wisdom.
 
just search and read all the useful information that you have in this forum, and take your action when you feel self-confident.
 
don't know how many but there are so many way to be successful in trading that you can read in this forum. Besides, you should choose one that you think it is appropriate to you and to your business, no need to do follow the other idea.
 
Quote from sumfuka:

You have to stare at the forex markets 6 months to a year. 16 hours a day. Depending on your money management skills, you should be good to go afterwards.
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Is it too long or short period to have succeeded in trading? I think time doesn't matter to the trade, it depends on how much knowledge you gain when you read this forum or any others.
 
buy low, sell high, learn options, hedge, have lots of capital, learn everything you can, develop your own risk tollerance, have a strategy for every trade including exist
 
Quote from Nexen:

Buy low sell high.

Risk 1 to make 3

Stick to stops and targets

Dont overleverage

and repeat
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spot on!! so simple, but so powerful.
 
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