i'm noob got an idea
- Thread starter thenewguy1
- Start date
ive listened to three of these, to me this kind of stuff is just total fluff, its more about that persons story and how they 'came up' and not actually advice other than 'discipline, patience, set a stop loss'
its an hour of talking with 3 minutes of content (im a podcast snob and expect more hehe)
If you expect a How-to cook book recipe, that's not going to happen here. There are successful traders here, but they can't share every little detail or their method would stop working because everyone is doing it. If you want to be successful, take some of the generic information available and do your own studying. Paper trade. Back test. Then when you try your method, avoid leverage and cut your losses quickly.
Hmm, ironchef, you are onto something here!
Let's see.
A.) In order to make money trading, an instrument needs to move.
B.) I am in a position in an instrument that is not moving.
C.) The instrument is not moving, thus my position is neither making nor losing money.
This needs to go out in the college brochures and bulletin boards on campuses everywhere! It's genius!
(Seriously, this should not need to be said. It is not IMHO, it is facts so basic it defies explanation that you need to explain it. We must weep for the future.)
If it's moving up and down in a range, then it's moving. I'd be happy to make 1% a whole bunch of times.
But like Fonz said in another thread, he would rather lose a few % some times and waited for big moves once in a while.
Some like you would rather collect small frequent gains while others like Fonz would accept some frequent losses to collect occasional huge gains. Two opposite philosophies but can be equally successful for the skill practitioners of each.
Peace. I post this not to disagree with you but to stimulate some food for thought.
Best wishes.
Actually it is not a fact. Look at what Smart Money said in the following:
Haha ya, I totally get it. It's rare (or never happened) that they go into detail. But some personal stories are interesting.