Principle based day trading strategies

[CyJackX]

I can guarantee a way to never lose money.
Never play

 

[Buy1Sell2]

Principle based intraday strategy

When successful investors make principles based investment why not a day trader?

In fact the success rate in day trading will be higher than in investment because there is virtually zero external influence beyond the open price within day trading when compared to investment or even positional trading.

I created a day trading strategy based on a single principle : Never lose your money.

The reason to choose this principle is that the probability to lose money in trading is very high than to gain.

"Never lose your money" is not a technique but a trader's attitude. Which means the primary focus is on minimizing, or if possible avoiding, losses in every single trade. Profit making will be the secondary focus which aligns with the primary focus of protecting the money.

This is how to play poker against a loose table----not how to trade.

 

[rajesheck]

This is how to play poker against a loose table----not how to trade.

Trading is a combination of business, art, science, gambling and attitude.

The question is to what proposition.

There are professional gamblers who treat gambling like a business and succeed.

And there are business people who do the other way and spoil the business.

Similarly there are tons of traders who treat trading as short cut to money rather than a profession.

Trading is a discipline of business, art of psychology, science of strategy, controlled gambling and primarily an attitude.

Anyway its good a news for disciplined traders that there are lots of gamblers around who don't display a character in their trading.

 

[Steve Alexander]

You're completely wrong.

Losing money is part of the game and this is the wrong attitude, you will still lose money but not make enough money because you get out too early.

Also, the notion of time in the market doesn't really exist.

Percentages also don't make sense in trading. Crude Oil has always traded in a range of 2$ per day, whether it was trading at 100$ or at 25$. In the former case that represents 2% in the latter 5%.

Don't listen to me, instead do a simulation on your strategy and see for yourself.

Ditto.

 

[Slope Trader]

Throughout the history of life on earth as we know it, the most successful and longest lasting animals are typically ambush predators. They conserve energy (capital), watch and study the environment around them motionless for hours and days, and take instant advantage of opportunities as they present themselves. And when those opportunities turn into danger, they break off and flee immediately. Just my own 2 cents, YMMV.

Hi Bone,

A crocodile? You're telling Rajescheck that successful traders are like reptiles?

How about a lion or a tiger, or maybe a cheetah? Sheesh...

 

[lawrence-lugar]

Hi Bone,
A crocodile? You're telling Rajescheck that successful traders are like reptiles?
How about a lion or a tiger, or maybe a cheetah? Sheesh...

When I personally think of a successful trader...I generally think of a cold-blooded reptile -- rather than a warm mammal,

 

[justrading]

Loss aversion trading is a psychological handicap of the human brain .Most traders cut profits , in fear of loss , but succesful traders run their profits under the most uncomfortable present situations.

http://www.businessinsider.com/colin-camerer-wins-genius-grant-2013-9?IR=T

On this I absolutely agree with you.

I found my holy grail a long time ago, it's managing R:R. Losses are irrelevant, if I have R:R under control, I will make money.

 

[justrading]

Whatever it is, you need to be the apex predator, not food.

And yes, the saltwater croc is the apex predator in its area.

 

[rajesheck]

Some of us often forget and many not even aware that trading is a blend of Art, science and psychology. There are innumerable ways to trade. In any Art there is nothing right or wrong. In trading there is nothing right or wrong until the trader makes money consistently.

The process of creating a strategy is an Art. Blending a suitable risk management is science. Executing the strategy in a disciplined way or lack of it is psychology.

All that we think and do about trading is right...until we make money consistently.

 

[Trading Education Buyer]