Sucker plays

Quote from Cutten:

Amongst others:

1) Fading emotionally driven buying/selling climaxes.

2) Following the market when it is moving against the prevailing market sentiment.

3) "Buy the rumour, sell the news" trades.

4) Following major bull or bear markets.

5) Purchasing assets which are discounted due to fear about temperory factors which have no impact on the long-term outlook.

6) Trading "relative performance" e.g. going long stocks which do not go down much during market weakness, and which soar during market strength.
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You do all that while day trading the Bund? Not bad! (Scientist, watch out!)

Btw, iron clad edges those, yeahsiree.


And Sucker, what's up man? You still a Sucker? Don't worry, it's not so bad. I was a sucker for the longest time too. Even made coin for a year back in '02. Not half bad coin either, all things considered. Still I was sucker then, and, truth be told, I'm still a sucker today. Just not sucker enough to trade while still a (self-acknowledged) sucker. Which isn't a bad move either.
 
Just started reading the book: Mentally Tough Online Trader

It has Ed Seykota's (who's he?) rules:

1. Cut Losses
2. Ride Winners
3. Keep Bets Small
4. Follow the Rules without question
5. Know when to break the rules

To that I would add: recognize that the market moves in pattrens, and get to know these patterns. The same ones are found on a 3 min chart as they are on a daily chart.
And volume will confirm a move. If a stock is moving without good volume or is going sideways, don't trade it!
Look and wait for a trading opportunity. That was my biggest mistake, now corrected.
 
Thanks for bringing this thread back to alive. It made me remeber the good old days not that old yet. One by one our old friends are gone, like Hioihio. Anyhow, to upcoming new suckers, act like man, like me. There will be your chances and shares.

100% up room to go.
 
Quote from TorontoTrader2:

Just started reading the book: Mentally Tough Online Trader

It has Ed Seykota's (who's he?) rules:

1. Cut Losses
2. Ride Winners
3. Keep Bets Small
4. Follow the Rules without question
5. Know when to break the rules

To that I would add: recognize that the market moves in pattrens, and get to know these patterns. The same ones are found on a 3 min chart as they are on a daily chart.
And volume will confirm a move. If a stock is moving without good volume or is going sideways, don't trade it!
Look and wait for a trading opportunity. That was my biggest mistake, now corrected.
More...

I like rule no. 5.
 
Quote from TorontoTrader2:

Just started reading the book: Mentally Tough Online Trader

It has Ed Seykota's (who's he?) rules:

1. Cut Losses
2. Ride Winners
3. Keep Bets Small
4. Follow the Rules without question
5. Know when to break the rules

To that I would add: recognize that the market moves in pattrens, and get to know these patterns. The same ones are found on a 3 min chart as they are on a daily chart.
And volume will confirm a move. If a stock is moving without good volume or is going sideways, don't trade it!
Look and wait for a trading opportunity. That was my biggest mistake, now corrected.
More...

1. Agree
2. Not necessarily
3. In % of account terms, not in absolute terms
4. Only if a systems trader
5. Yes, if a discretionary trader
 
Quote from candletrader:

1. Agree
2. Not necessarily
3. In % of account terms, not in absolute terms
4. Only if a systems trader
5. Yes, if a discretionary trader
More...

Why not no. 2?
 
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