First off, that question wasn't directed towards you. Second, it doesn't take a genius to find which way the market is trending. I'm sorry but I'm just going to have to prove you wrong. You'll see in the coming years. As long as you know what the market is telling you and not trade based on emotion, it's pretty damn easy. Just look at price and volume, know which way the overall market is trending, know where support and resistance levels are, know as many chart patterns as possible, adjust to changing conditions etc. etc. You can give me any chart right now and I'll tell you where it's going. I know which stock to get in and when to get out. I subscribe to the KISS theory. Trading doesn't have to be complicated. Using stops is key for me at this time, since I'm not at the computer all the time (i have classes every tuesday and thursday and leave my computer by 1pm est). I like picking stocks from IBD. Generally low volume and illiquid in nature. But it makes for finding wonderful risk reward ratios with great movement up or down. You don't seem to understand the amount of trading knowledge I currently have. You don't even understand how much emotional control I have. But I'm sure you know how much enthusiasm and expectation I have. I'm glad I'm getting posts like yours saying that I'm not going to make it. It just gives me more drive to study more charts, work my ass off during non trading hours and make it big in this trading world. Thank you for making this post. It gives me even more incentive to work hard to obtain my goal.
***my First Post***
- Thread starter I Trade 4 Money
- Start date
First off, that question wasn't directed towards you. Second, it doesn't take a genius to find which way the market is trending. I'm sorry but I'm just going to have to prove you wrong. You'll see in the coming years. As long as you know what the market is telling you and not trade based on emotion, it's pretty damn easy. Just look at price and volume, know which way the overall market is trending, know where support and resistance levels are, know as many chart patterns as possible, adjust to changing conditions etc. etc. You can give me any chart right now and I'll tell you where it's going. I know which stock to get in and when to get out. I subscribe to the KISS theory. Trading doesn't have to be complicated. Using stops is key for me at this time, since I'm not at the computer all the time (i have classes every tuesday and thursday and leave my computer by 1pm est). I like picking stocks from IBD. Generally low volume and illiquid in nature. But it makes for finding wonderful risk reward ratios with great movement up or down. You don't seem to understand the amount of trading knowledge I currently have. You don't even understand how much emotional control I have. But I'm sure you know how much enthusiasm and expectation I have. I'm glad I'm getting posts like yours saying that I'm not going to make it. It just gives me more drive to study more charts, work my ass off during non trading hours and make it big in this trading world. Thank you for making this post. It gives me even more incentive to work hard to obtain my goal.
Emotional control? I think the posts you have made has shown us your "Emotional control".
Money and the chance of greatness create emotion, which is something you have displayed on an immature level. Emotion is designed specifically to overwhelm logic, and reason. Be cautious.
-Kastro
You have absolutely no idea what you're talking about.
You do not really need to study charts and set ups all the time. Hard work is important, but to a certain degree. All you need is ONE set up, which you know inside out, on one index future. You can make 7 (low) figure income with this.
Totally beleive in KISS (inless options are traded).
And be very carefull when illiquidity is merged with leverage. By itself they are not too dangerous, but when mixed could be a deadly combination.
Regards,
redduke
Just keep in mind, markets only trend about 15% of the time. The rest is sideways action.
BTW, everything you mention below is commonly used by the masses who fail at this game. What makes you different?
BTW, everything you mention below is commonly used by the masses who fail at this game. What makes you different?
What makes me different is I take action when the charts tell me to sell or buy and act upon them. I know from experience that people tend to hold unto losers and/or add unto losers. I also understand that people generally "fall in love with a stock" and don't take action due to that. People have a hard time to "break off their marriage" and move on. I've seen those who fail at this game that tend to have the tendecies I just mentioned above. Greed and fear also causes the masses to fail. Notice that the main reason the masses fail is they buy and sell based on emotion. Other reasons the masses fail might be due to the fact that they don't have enough experience, refuse to know the reasons behind why they bought or sold the stock, don't know what a chart is telling them, etc.
Read the thread from the beginning to the end.