million dollar system.
- Thread starter silk
- Start date
Originally posted by nitro
Hmmm,
Why
nitro
PS - thx for the peace and good trading.
Don't know really... my handle on MarketPuzzle.com has been Publias for quite some time, figured it was better than using my last name on this site... Why Nitro did you miss Commisso???
PEACE and good trading,
Commisso (Publias)
Commisso's post always relaxed me...Originally posted by Publias
Don't know really... my handle on MarketPuzzle.com has been Publias for quite some time, figured it was better than using my last name on this site... Why Nitro did you miss Commisso???
PEACE and good trading,
Commisso (Publias)
nitro -
I look at the 5 minute moving avg. I think it is a simple average of the last 20 5 minute intervals. Anything faster than that creates too many wipsaws for me.
It seems that if you combine simple trend analysis with basic tape reading you get pretty good results. You have to be able to let your winners ride to make serious money. I think experience is what helps you to know when you have something good or not. Watch the market long enough and often you can feel the momentum which will allow you to hold on to winners longer.
Good luck all.
It seems that if you combine simple trend analysis with basic tape reading you get pretty good results. You have to be able to let your winners ride to make serious money. I think experience is what helps you to know when you have something good or not. Watch the market long enough and often you can feel the momentum which will allow you to hold on to winners longer.
Good luck all.
Please check the link below. It explains a system quite close to what you mentioned. I've been following it, and it DOES earn a LOT of money
http://www.stockhits.com/site/id62.html
http://www.stockhits.com/site/id62.html
I very much am in agreement with the way that Silk has told us he trades. To me, as I have stated here before, relative strength is the biggest factor for me. This combined with good (average or better than average volume).
I do agree with Publias big time about averaging against. Never has helped me consistently. But has often hurt me badly.
Also....great point.....not shorting stocks on their new or recent highs or buying on new or recent lows!!
7 figures...wow! I have done it, but not in a few years. Of course I am trading a little gun shy lately. I know it is a psychological problem in my case. Always was easier for me to add to winning longs than shorts. It seems like I am too quick to get out of shorts. I never had trouble holding longs through "dips", but the bounces are so severe when they are against me in shorts. Seems like I could never have a long go up that fast! Very painful. So (re: shorts) instead of adding, I look to take quick gains and quicker loses. Rather than building positions, I tend to make them smaller or get flat. Loss of confidence? Don't know....it has both hurt and helped me. I have not kept a journal so I really don't have a way to truly evaluate results. I never did that and have always been a seat of the pants kind of trader (not recommended for most). I have the feeling though that it has worked pretty well for my mental health. Bottom line is I am trading much smaller and much less aggressively.
Good post Silk....thanks!
RS7