Tim is a great guy.
I have never met a successful trend follower
- Thread starter 1a2b3cppp
- Start date
This sounds too simple to work but it is correct. This is the basis of a successful trading career.
An annoying aspect of forex trading is when people say it is too hard, too complicated, too risky. And they know this because they have lost money. I'm sorry, but I'm not going to be told how to trade by someone who is losing money at trading.
100% of all traders know this... less then 20% ( or even 10%) can effectively do it long enough to make decent money.
Maybe you can explain very detailed how to achieve it? It would benefit over 90% of all ET members.
hmmmm running in the direction of the bulls at the Pamplona encierro (bull market) is not the smarter thing to do either until you into pain.
http://stockcharts.com/h-sc/ui?s=Weed.to
So , real time , you just buy , hold, and endure multiple 20-25% corrections because you bet this will continue to rise.
Or,
Real time , you extract what your trading abilities yield, manage risks with stops etc... , take multiple trades alomg the way, always trading with the trend, and end up extracting a fraction
of the entire trend. Quite possibly a large fraction with good risk management.
Which is it that people are talking about here?
Let this John Henry guy speak for himself.
Why is enduring a 20-25% correction compulsory? That seems too deep to bet its still just a pull-back. I'm pretty sure I would find I am stopped out before price gt so far off track. Then of course if it does turn out to be a correction, that's just another good place to get back in.
Spot on. Forex and the S&P index are historically some of the more "trend-friendly" instruments.
That is why there are so many profitable forex traders.
Legitimately? Nearly every post I read on this forum says that S&P is a mean reverting vehicle.