Then u shouldn't mind this suggestion.
Break your posts up into multiple paragraphs. U have good ideas but poor presentation skills.
Intermediate-term trading
- Thread starter Steve Ladd
- Start date
Break your posts up into multiple paragraphs. U have good ideas but poor presentation skills.
Tell that to CitadelYou might have that backwards.
Once you remove the word trading, then yes. Warren Buffet comes to mind
I was thinking Rogers, Soros and Livermore.
In either case being a swing trader puts me in the minor leagues.
Rabbitone and Deaddog, Elite Trader doesn't facilitate position trading. There is no forum for it. Are we the only three here who do it? Is there another forum? If not should we create one?
I'm not aware of one. I suppose you could google investing forums or stock picking forums. I found that trading is trading and that the same principles apply to most time frames.
It doesn't matter what you are trading, you won"t be right all the time and you have to admit you are wrong and take your losses quickly.
As to method, it is better that you develop your own. What works for others won't necessarily work for you especially if you do not understand why the method was developed.
What really helped me was writing out a trading plan. Start with why you want to trade and be as specific as you can. List why stocks will be on your watch list, what criteria they have to meet to be bought and when to exit. Be specific about trading capital, position size, and number of positions.
Then see if you have the discipline to follow your plan.
It doesn't matter what you are trading, you won"t be right all the time and you have to admit you are wrong and take your losses quickly.
As to method, it is better that you develop your own. What works for others won't necessarily work for you especially if you do not understand why the method was developed.
What really helped me was writing out a trading plan. Start with why you want to trade and be as specific as you can. List why stocks will be on your watch list, what criteria they have to meet to be bought and when to exit. Be specific about trading capital, position size, and number of positions.
Then see if you have the discipline to follow your plan.
I have looked for forums in position trading and trend following. Nothing active. I have a plan like what you describe. I always write plans for myself, being a city planner by profession. I feel more self-confident now having heard from you and Rabbitone. But I would like to share things, like that I am doing well in gold miners, emerging markets, and energy. I started position trading a couple months ago. It is too easy! Are we in an unusually easy time?
Position trading has always been more profitable than daytrading. Daytraders don't see this. Daytraders are greedy ("I want it now!") and greed lowers IQ points.
There's an old saying: Haste Makes Waste.
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It is always easy when things are going your way. Is there a reason you picked the sectors you are doing well in as opposed to other sectors or are you well diversified and those sectors are your best performers.
Everything I have is severely undervalued in CAPE terms (or some other metric) and climbing quickly. I would like more diversification than I have. What sort of instruments do you trade?
Good that you saw and ececuted in the gold miners , emerging markets. New people sometimes see and execute without doubt than do more experienced.
Keep this a positive experience and dont give back your profit. Become a trend follower in time. Do you have a tested exit strategy?
An amateur speaking here so.....