As usual RN, you have a way with words, and slightly different to mine
TE
If you want to fail as a trader, study TA
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As usual RN, you have a way with words, and slightly different to mine
TE
ONLY ONE RULE...MAKE GOOD MONEY
You can change anything once it helps you make GOOD money.
Of course we have targets, meaning, we have a loss target per trade, as we are unable to tell the future, and, we also have a profit target per trade, as, the future can easily become the past
E.g.
If we see the Ftrs and Cash diverging, (remember the post in the place we shall not mention
) we might decide to sell short the leading stock in the leading sector, and, we shall initiate the trade with 1000 shares and 20 cent MAXIMUM stop.Now, the divergence is confirmed, and the stock heads down in line with the Ftrs (remember we want to trade stocks that mirror move the Ftrs).
The stock has ticked down 25 cent and the Ftrs has closed in the lower section of the 5 min bar.
What do we do next, if..?
1. The Ftrs and stock continue to tick down
2. The Ftrs continues to tick down and the stock stalls
3. The Ftrs stalls and the stock continues to tick down
4. The Ftrs and stock both stall
TE
Just to show that it really does not matter what index you follow, once you are trading stocks within the index.
If you have your automated scans set up correctly, then, you do not need to do much work before the market opens, as, your scans should already put the odds in your favor, so, no need to bother with all the useless time wasting RTA rubbish
RN mentioned one very important word in his eloquent post
, and, NY has mentioned to me that this word was discussed in detail in the Obvious thread.Sometimes I don't like riddles and rhymes, and, sometimes I would just like to say, here, LOOK, this is how you fukin make GOOD money, and, even a child can do it, SEE
But, I can't do such a thing, as, I would be kicked out of TFF and never left back in again, and, even though I am well capable of trading away on my own, without the right people around you, it is very easy to falter and lose years of hard work in a very short time
:eek:
So, know you friends, and your enemies
Never treat your friends wrongly, and, never treat your enemies rightly
An eye FOR and eye
TE
TE,
A couple questions:
1. After you enter a trade do you stick with it until your target is hit, or do you trade in & out in between your entry and your target?
2. If you wait for a target to be hit there will be times when it just doesn't happen. How do you avoid letting a winning trade turn into a losing trade if the stock reverses before your target is hit? How do you know when to get out?
Thanks.
A couple questions:
1. After you enter a trade do you stick with it until your target is hit, or do you trade in & out in between your entry and your target?
2. If you wait for a target to be hit there will be times when it just doesn't happen. How do you avoid letting a winning trade turn into a losing trade if the stock reverses before your target is hit? How do you know when to get out?
Thanks.
Quote from The Expert:
ONLY ONE RULE...MAKE GOOD MONEY
You can change anything once it helps you make GOOD money.
Of course we have targets, meaning, we have a loss target per trade, as we are unable to tell the future, and, we also have a profit target per trade, as, the future can easily become the past
E.g.
If we see the Ftrs and Cash diverging, (remember the post in the place we shall not mention
Now, the divergence is confirmed, and the stock heads down in line with the Ftrs (remember we want to trade stocks that mirror move the Ftrs).
The stock has ticked down 25 cent and the Ftrs has closed in the lower section of the 5 min bar.
What do we do next, if..?
1. The Ftrs and stock continue to tick down
2. The Ftrs continues to tick down and the stock stalls
3. The Ftrs stalls and the stock continues to tick down
4. The Ftrs and stock both stall
TE
I'll guess.
1. Wait for target to get hit (possibly move stop)
2. Wait for target to get hit (possibly move stop)
3. Exit stock as soon as it stalls, otherwise wait for target to get hit (possibly move stop)
4. Exit
1 - Stay in
2 - Exit half
3 - Increase the position
4 - Bang the side of your screen, if it still doesn't move - exit the position
Hi DT,
Nice to see you are still alive
I like the answer to 4
Why would 3 not be 1?
Why would 2 not be 2 times 2?
TE
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