If you want to fail as a trader, study TA

[The Expert]

That was my last chart for a while, as I have just got a call telling me to slow down, and, I must obey or I will be kicked from TFF.

If you are not making money trading, then, you MUST stop right away and think long and hard about what you are doing.

Sometimes it is best to leave it be, and, just go away and reflect on what you have been doing. You might be just amazed at how much silly things you were ACTUALLY doing, and, how many simple things you were ACTUALLY not doing:eek:

Never be in a hurry, as it will cost you money.

Have a plan, and, a plan can be anything from 6 months to 6 years, but, make sure you carry out your tasks to the best of your ability.

Change as frequent as you must, for, the best feedback is your bank account, even if it is only growing a bit from trading small size.

NEVER FORGET, that, once you have it WORKED OUT, it is just a matter of SIZE, and, you never have to worry about making money, for, there will ALWAYS be plenty of idiots in the world who are just too damn lazy to get off their fat arses to do the required work, and, instead, let The Generals look after their money for them:eek:

Long Live The Generals

TE

 

[bigarrow]

Quote from The Expert:

Well LP, why don't YOU work it out.

Here are a few helpers.

1. We only trade stocks with a DR in excess of 50 cent for the last 15-30 trading days.

2. We only trade 1 stock at a time.

3. We only trade highly liquid stocks within leading / lagging sectors.

4. We only risk 0.0025% of available trading capital (leveraged) on each trade.

5. We only trade when the odds of winning are the best

TE

on #4 that % would be $2.50 risk per $100,000, am I reading you right? Do you trade with redneck, the above is close to the guidelines he talks about.

 

[blox87]

TE thanks for all your work here! I really enjoyed the thread along with your others.

 

[Xspurt]

Quote from The Expert:

That site is pure crap

In hindsight, it is very easy, in the live world it can be very hard, and, it takes a good bit of experience to "get it right".

Barry Rudd explains it better

But, I will admit, YES, it is all basic stuff that you must know, else, you might as well be looking into a black hole

Remember what TE said in the not too distant past, and that is, if you draw enough lines on a chart, one of them will eventually get hit

So, know what you are looking at, and, do not expose the brain to too much stuff, else you run the risk of making assumptions that are not based on facts, and I am sure YOU ALL know what the word ASSUME really means

TE

Have not got a clue about the site. Was Googling to see if I could refresh my mind about the title of the book.

I don't think any technique is crap, it comes down to how you use it and what you can extract from it.

Like your measured moves

 

[gktk]

i second that.

I also recommend revisiting earlier TE threads on the site that we won't mention, puts a lot of what has been mentioned here into perspective.

Quote from blox87:

TE thanks for all your work here! I really enjoyed the thread along with your others.

 

[The Expert]

Quote from bigarrow:

on #4 that % would be $2.50 risk per $100,000, am I reading you right? Do you trade with redneck, the above is close to the guidelines he talks about.

Well done BW

You took the time to actually read what I posted and see that it was just plain downright silly

Never believe anything you read until you have proven it to yourself

How can you expect to make money by just risking $2.50 per $100,000, for, it is just not possible.

Now, and we are talking about daytrading US Stocks here, what would be a common sense approach to take in relation to the amount we risk per trade, and, what must we do to make sure it happens?

TE

 

[The Expert]

Quote from Xspurt:

Have not got a clue about the site. Was Googling to see if I could refresh my mind about the title of the book.

I don't think any technique is crap, it comes down to how you use it and what you can extract from it.

Like your measured moves

Never ASSUME anything, for, it makes an ASS out of U and ME

Trade what you see, not what you think you see.

Do not be fooled by fancy paintings of the past, for, the reality in the heat of the battle is far from easy and nicey piecy.

Until you are on the wrong side of a locked limit market, with multiple contracts, you have not experienced REAL pressure and what one must do in order to stay in the game.

It is NO GOOD making GOOD money if you are unable to hold on to it.

Trading is as easy or as hard as you make it, and, the easier you make it the more you will make

From now on, I can only comment on posted charts, for, I have been warned to not post any more charts, unless I want to be excommunicated from TFF, that is

TE

 

[macattack]

What's TFF?
The fortunate few?

 

[IchibomB]

Quote from The Expert:

From now on, I can only comment on posted charts, for, I have been warned to not post any more charts, unless I want to be excommunicated from TFF, that is

TE [/B]

bullsh*t the more charts the merrier...you don't have a holy grail.

 

[Mysteron]

Quote from trackstar:

north or south?

The chart dates back 7 years, so what is the point.