The most efficient method of trading
- Thread starter stewbacca
- Start date
Well you sound like a nice guy, and I wish you well.
From what you say about the paucity of signals, and as I can see no reason at all why planetary movements would affect stock prices, I think your profits are more likely due to randomness (any strategy should be right 50% of the time by chance) than anything else. Still, as they say, if it works for you that's fine. All the best.
From what you say about the paucity of signals, and as I can see no reason at all why planetary movements would affect stock prices, I think your profits are more likely due to randomness (any strategy should be right 50% of the time by chance) than anything else. Still, as they say, if it works for you that's fine. All the best.
Good Evening mikeriley,
Correct my friend, Guess Trading using Price alone and a naked chart (maybe one indicator, I guess)
What other choice does a retail/manual/independent trader have who is not skilled in programming/coding and back test every trading method a book or someone tells them makes money?
Please tell me what other choice there is but to guess and hope to make money?
Hello mikeriley,
I understand perfectly what TA is. It is not rocket science my friend.
If you see a TA pattern click buy or sell, put your stop loss somewhere you think/guess price will not stop you out, and take good guess where to exit for profits or use a profit target you think/guess will work per trade.
It is not rocket science, that is @Scataphagos point, Price TA is not rocket science, but the trader needs to be prepared to make on-demand real time discretionary/guessing decisions in real time while losing or winning for the next X,XXX trades per year, hope the the year turns out profitable per the trade Price TA skillset.
This is called Discretionary Trading. Trade what you think works. It is all best guess.
Hi SimpleMeLike,
I know in the past you mentioned that reading Trading Books
is a waste of time. This is just my opinion..
I take the other side of the spectrum, because I've learned
that trading books can be a foundation for trading education.
Trading books, or any form of trading education provide "information".
Like pieces to a puzzle, the more information one acquires will give them
knowledge and understanding to formulate valuable combinations.
Combinations of methods and techniques to see where & how the puzzle might be solved.
Without a constant and consistent platform to LEARN, and
increase knowledge and understanding, are efforts
would devolve into a regular liquidity bank for those who do.
Hello mikeriley,
I appreciate the response. I wish you was in nearby so we can go to the coffee shop nearby and sit in the talk in the shade for a good ole trading friendly discussion.
I respect all traders thoughts, opinion, and recommendation regarding trading. We have different roads of travel towards the road to trading success.
no need for trading book.
All that is needed is 4 things
1. Trading chart
2. Buy Button
3. Sell Button
4. Trader to stare at chart and click buy button and sell button 8 hours a day non-stop, 250 days a year until PnL = $1,000,000
I do not need read 1000 books and on and on, to tell me those 4 things.
As I have said before, we make trading too complicated. The more you learn, the worst it gets.
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Learning incorrectly is as bad as refusing to learn. Good point.
Hello savoir,
You nailed it buddy. Here is 20,000 books on amazon on sale for Day Trading.
now, here is a chart of the 3 minute chart of ES, and Buy button and Sell Button.
Which one do I go with?
A. Read 20,000 books at an average of 100 pages per book, that is 2,000,000 million pages of reading, and confused as fuck when done.
B. Open the 3 minute chart as @Scataphagos , rea the bars in read time, and follow Price TA as best as I can, then click Buy when I think price will go up, and click Sell when I think price will go down.
Common practical sense says go with B. Why in the world would I want to use my precious time reading 20, 000 books on day trading, and NONE of the book have profitable track record displaying confirmed 3rd party audit Edge with anything they teaching. Just a bunch a writers/sellers talking talking talking trying to make some money. Heck, I can write a book myself and make up some bullshit and lie about day trading.
If the answer was in a book, we all be rich.
Work smarter not harder. KISS Baby, Real Time Price TA, take your best guess.
I will said it again with complete confidence. reading trading books is a waste of time, because the author is just talking about theory with no actual results. lol, anybody can do that. I can do that with the 3 minute bar below...."yeah, 2 big red bars down, sell, 2 big green bars up, buy" lol, send me $99 for 3 minute bars day trading book now.
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I hear what you’re saying and I can’t disagree with the sentiment.
I’ve heard people state that if you get just one good idea from a trading book it was worth it. They neglect to mention all the bad ideas that are also included.
Reading a lot of books about trading guarantees only one thing: exposure to the conventional wisdom about trading.