The amount of those is highly correlated with the size of your watchlist and how efficient the signal is.
Question to Elite Traders
- Thread starter Blaze
- Start date
You just need to look for trading setups on hundreds of stocks, etfs, futures, forex, etc...
Never limit yourself to one or two financial instruments, it is the dumbest thing to do, and yet traders do it all the time because they want to "specialize" in one or 2 markets.
Instead of trading what's moving NOW, they keep staring at the same chart/market for months, waiting for a trading setup
Total stupidity.
LMFAO HAHAHAHAHAHAHAHAHAAHAHAHAHAHAH that's very funny man.
Good laugh.
I use to be stupid like that too, starring at ES futures alllll day waiting for setup and forcing bad trades. Yes that was stupid.
In extensive testing I've found no consistency nor correlation that performs the same across multiple timeframes...as far as technical signals go. If there was I'd create a bot.
Where I obsess is trade management... controlling losses and scaling into my winners. All we have is price action and risk management.
Where I obsess is trade management... controlling losses and scaling into my winners. All we have is price action and risk management.
If I might respectfully disagree.
I trade one market. There are days, at times weeks where no set-ups occur. I have to wait, I can't force the market to do what I want. I'm in the game to make money, not to keep busy.
I don't go looking for a trade I wait for a trade to show up. It's in my plan, if there are no set-ups; don't trade.
I used to think like that but agree with @Tradex, trade what is currently hot, one quarter it might be metals, then following after that might be Banks or Timber stocks...
Yeah. Both profits (if test shows a success) or avoid losses (if test shows failure). I guess
Daily and 4-hourly respectively.
True.
One instrument and/or just one setup is all that is really needed. Beyond one because it's there and because you can.
When I say I trade one market I mean the stock market.
I was assuming tradex meant move from stocks to futures or commodities or forex when you can't find a set-up in the stock market.
This is good advice. I paid $49 for this item back in 1997 (2 units). Been sitting on my hands, patiently waiting for it to "pop". Perhaps it is time to move on?