In your opinion/experience, what are the most succesful trading styles/methods etc.

No...., because

Someone else's trading method is just that - someone else's

By taking someone else's - you're automatically starting off - limiting yourself to their limitations (biases..., fears..., knowledge (or lack thereof)..., beliefs - basically their internal filters)

Alternative..., take bits and pieces from various sources - then piecemeal together one for yourself

Just keep it simple..., straightforward..., conscise




Best way to tackle this..., is to sit in front of a live chart and watch - it will start revealing itself and making sense




This won't consistently occur until you transform your mind into one of a trader's


Viable methods are a dime a dozen

A trader's mindset

1.) takes work..., and a great willingness to change one's self..., to their very core
2.) once ya got it..., I hesitate saying everything else becomes inconsequential..., but it does diminish in significance considerably

==========================

Need to learn to read PA (like sheet music - it has a language all its own)
Need to create an A&M outlining everything A to Z (keep it simple.., yet precise and concise)
Need to build a trader's mindset
Need to create a plan for each trade - then follow each trade's plan to fruition..., without a smidgen of deviation


First two are easy..., third is a bitch (to the extent you make it)..., all are absolutely necessary

Try to circumvent / short circuit even one - you won't make it (and likely will start going around touting how trading successfully cannot be done)


Trading successfully is not hard..., but does take a very specialized set of mental skills..., that are completely contra to the mental skills it takes to succeed in the normal world

And when I say completely contra - it no exaggeration


================



You're Very Welcome


Successful Journey Sir

RN


Quality response right there, I agree with everything you said...and it seems a lot of members are emphasizing the importance of studying PA and charts live....before even going into sim trading and especially before going into real trading.

I actually have one more question for you, and it might be kind of dumb...

what do you mean by A&M outline? Just basically everything I know about trading put into some sort of notes? Because I have been working on that, I have a nice little resource i made for that, but it lacks a lot of technical information, which I need to start gathering.


Thanks
 
what do you mean by A&M outline?

Approach & Methodology



======================

Just basically everything I know about trading put into some sort of notes?

No.., that would be way too convoluted


It needs to contain the nuts and bolts of - what..., when..., how

who..., would be you
why..., would be to make money


recall.., keep it simple..., straightforward..., concise


RN
 
Diego, very true, with Pattern day trade i only have 3 day trades based on how much capital I have right now. On the bright side, this will help me not "overtrade" what are your thoughts on that?

As far as papertrading being different, I agree...however, I have always been relatively objective when it comes to sports betting etc, I tend to not get too emotional. Also, to counter act emotion, I want to build a system based from my papertrades and then use it exactly the same with real money...no exceptions. I will only make changes that I believe will improve my success ratio and dollar win/loss ratios.

Basically what I am getting from your perspective, is that swinging might also be my best option versus daytrading, solely based on undercap?


I am currently object to the PDT too but it is the worst situation I can imagine when you are a day trader. The overtrade point is good but I found myself so often in situation where I was like: Should I make the trade because then my daytrade is gone and if I loose in top of that, this drags on your emotions. I used to chase my idea later on and loose because of my bad entry....

With swing trading you can avoid the pdt to the largest extend, but I think there is a restriction that if you invest more than 7.5% if your account this is a daytrade already, but really not sure on that....building an account and learning to apply your strategy can be extremly tough especially when you take profits along the way and want to size in back...

#screwthePDTshit
 
recall.., keep it simple..., straightforward..., concise


RN

Hi Redneck,

just out of curiosity. If you had to write down your trading plan, how many pages (or approximate number of lines of text) would it take?

Thanks
and
Wishing you and your family a Merry Christmas and Happy New Year.
 
Hi Redneck,

just out of curiosity. If you had to write down your trading plan, how many pages (or approximate number of lines of text) would it take?

Thanks
and
Wishing you and your family a Merry Christmas and Happy New Year.

Hey Ubo,

I too wish You and Your Family a Very Merry Christmas and Happy New Year Sir ;)

========================

Trade plan - three lines

Entry signal / price
SL / PT
Way of managing


=======================

The ole A&M section of my overall - ~ 2 1/2 single sided pages


upload_2015-12-15_15-41-15.png




HTH Sir
RN
 
Nobody mentions seasonal effects in commodity markets? Great stuff ... you can position, swing and daytrade it at the same time in multiple markets thanks to generous intra-commodity margin rules.
 
In my opinion one search by self what is most suitable trading method for a trader . His experience may be different from others he has to develop his own strategy of trading. As I learn to tale less risks for short term trading. with low capital we have to take low risks so we make small profits from it.
 
As a poker player for many years, the style that works best for me is a combination of daytrading and swing trading. Never hold anything for more than a week. I am not a fundamental trader so who knows what will happen after a week. This is also imo the quickest way to grow a capital from a small starting account.
 
Last edited:
Back
Top