Six Fundamentals To Six Figures

[FTDK]

This is an online forum, not a classroom. You are in a wrong place i guess!

And ofcourse we are supposed to know the qualifications of the faculty before we enter a classroom.

Moreover this thread would have been quarantined by the admins if it is not adhering to the guidelines of this forum. So in that sense, I am qualified to run this thread.

And we are qualified to question whatever you post But you don't seem to like that since you can never give an actual answer that is straight to the point .

And no, don't come back claiming i want one on one coaching or whatever, i want absolutely no coaching from you, i don't plan on losing my money.

 

[FTDK]

Six Fundamentals of Day Trading

1. Increase stoploss a bit whenever stoploss hits then immediately trend resumes.

2. Refine/scrap the strategy whenever stoploss hits and price doesn't return back.

3. Finding a strategy that works equally well on both intraday chart and extraday chart. Deriving levels by connecting both the charts.

4. Swing trading is vulnerable due to gap-ups and gap-downs between two trading days which makes it less safe than intraday. It is not advisable for traders to trade the safety of their investment with the convenience of swing trading.

5. Volatility is more in the middle of a well established trend making it vulnerable to frequently hit stoploss. Entering trade on early trend (market opening, trend reversal, sideways market breakout) avoids such volatility.

6. Entry and Exit strategies must be based on support/resistance. Entry/exit after second support/resistance avoids excessive volatility and helps in better decision making.

Pro Trading means Disciplined Trading which is sticking to the fundamentals. This is the only way to Six Figures.

1. Well, obviously moving the stop is going to help avoiding a loss, at least for now.
However, you can never be 100% sure in advance when the market will change direction, so increasing the stoploss a bit whenever the previous trade was stopped out is useless advice and will result in very big draw downs. I already asked you about this while including a chart per your request, yet you gave absolutely no useful answer.

2. So what does this actually mean? Every time a trade goes against me and continues in that direction i have to start back from scratch and ditch the strategy?

4. Swing trading is actually where the big money is, since swing traders don't have to worry about moving the markets with their big orders which they can spread, as a day trader at some point you will run into liquidity limitations, if you ever achieve that level of profitability in the first place. Also regarding the gaps up or down, you use indexes as an example, index futures rarely have big gaps up or down since they trade 23 hours a day.

5. Absolutely wrong, the middle of the well established trend has the least volatility, not the most.

6. Support and resistance is subjective, ask 100 people to draw support and resistance lines on a chart and you will get loads of different answers.

Forget about all these shitty rules that don't make sense, the number one rule in trading should be risk management and moving your stop a bit farther away each time it get's hit isn't proper risk management.

 

[FTDK]

You people are taking stoploss hits too casually. That is opposite of a business mindset.

Yet it is your advice to simply move the stop a bit further when it was hit on the previous trade . Aka increasing the risk every time it went wrong.

I don't think many businesspeople will agree with such ludicrous strategies.

 

[KCalhoun]

I always tighten stops, never loosen.

Thread title should be how to lose six figures lol.

 

[newwurldmn]

What makes you qualified to give us advice on how to trade?

if you had an open mind you would be on your way to six figures of net worth too.

 

[longandshort]

This is an online forum, not a classroom. You are in a wrong place i guess!

And ofcourse we are supposed to know the qualifications of the faculty before we enter a classroom.

Moreover this thread would have been quarantined by the admins if it is not adhering to the guidelines of this forum. So in that sense, I am qualified to run this thread.

you are not a serious person

 

[TrAndy2022]

If the OP achieved personal 6 figure account. The question would be about the next new, maybe 7, fundamentals how to get to a 7 figure account. The process of learning does not stop at 6 figures.

 

[rajesheck]

And we are qualified to question whatever you post But you don't seem to like that since you can never give an actual answer that is straight to the point .

And no, don't come back claiming i want one on one coaching or whatever, i want absolutely no coaching from you, i don't plan on losing my money.

Questioning the post is different from questioning the OP.

My straight forward answer to all your questions is grow up as businessmen, not just the technical stuff.

All that i have to say is said in this thread. Where is the need for one to one session?.

 

[Handle123]

Without stats, thread is useless.

 

[rajesheck]

1. Well, obviously moving the stop is going to help avoiding a loss, at least for now.
However, you can never be 100% sure in advance when the market will change direction, so increasing the stoploss a bit whenever the previous trade was stopped out is useless advice and will result in very big draw downs. I already asked you about this while including a chart per your request, yet you gave absolutely no useful answer.

2. So what does this actually mean? Every time a trade goes against me and continues in that direction i have to start back from scratch and ditch the strategy?

4. Swing trading is actually where the big money is, since swing traders don't have to worry about moving the markets with their big orders which they can spread, as a day trader at some point you will run into liquidity limitations, if you ever achieve that level of profitability in the first place. Also regarding the gaps up or down, you use indexes as an example, index futures rarely have big gaps up or down since they trade 23 hours a day.

5. Absolutely wrong, the middle of the well established trend has the least volatility, not the most.

6. Support and resistance is subjective, ask 100 people to draw support and resistance lines on a chart and you will get loads of different answers.

Forget about all these shitty rules that don't make sense, the number one rule in trading should be risk management and moving your stop a bit farther away each time it get's hit isn't proper risk management.

Risk management is business mindset, not a system.

Risk management is an emotional intelligence.

Risk management is a healthy relationship with money.

The six fundamentals are automatic when a trader realise that risk management is the heart of stock trading.

When you are stuck in technicalities then you can't see what this thread is about.

Investor/trader is like a dad and investment is like his baby. Dad will do everything possible to protect his baby. This thread is all about that. This is what is called business mindset. This is true risk management. What you people thinking of risk management is just academic stuff.

Universities won't understand business mindset. Academic people won't understand relationship with money. Business mindset means relationship with money just like between dad and baby.

If you are not ready for a commited relationship then you are not ready!

Your success as a trader is directly proportionate to your relationship with money.

So far i have not met/interacted with a trader who feels the way I feel about money and trading.

When it comes to investing or trading, ladies naturally have a healthy relationship with money. Their emotional intelligence is always higher than men. Research indicates the same.

You people are going no where until you are stuck in technicalities.