Trading for Morons - tips, pros cons etc.

hardrock375 · Jan 19, 2003

Quote from howardy2k:

i hear there r many gurus on the yahoo message board

Definitely...

wally_ · Jan 19, 2003

Quote from howardy2k:

i hear there r many gurus on the yahoo message board

Which one do you mean? Yes, there are some good Yahoo groups with some good (simple) trading strategies posted in them, but they did not come from any gurus and neither really had to in order to make sense.

nitro · Jan 19, 2003

Formerly "Molon Labe".
Nobody seemed to understand the meaning & symbolism of my former handle. I think I'll have slightly better chances with this one.

I never gave it much thought, but I have to admit, I don't get it now that I am giving thought.

nitro

freealways · Jan 19, 2003

Molon Labe = Come and get them

Isn't that correct Rearden Metal ?
Gee, ten years is a long time to make that bracelet.

Jack

omcate · Jan 19, 2003

Quote from balda:

Very simple system: When you REALLY want to buy - sell
and when it looks like a very good short than buy.

This is one of the best trading systems. Unfortunately, it is REALLY hard to implement.

Lobster · Jan 19, 2003

Quote from FasterPussycat:

BALLS

BRAINS

CHARISMA

Unless they trade electronically. In that case it's just the first 2.

beantrader · Jan 19, 2003

Experience,money management,more experience.Keep it simple,don't day trade,learn to lose,learn to be a pig,patience of a saint,be your own consul,trade and learn only a few markets,balls to the floor,learn to reel in your ego,recognition of patterns,learn the difference between gut feelings and learned intutive skills,don't drink and trade

I know this is a stock daytrading forum but if your going to trade futures other than the s&p go for the big bucks and trade intermediate to longterm,daytrading is chump change compared to longer time frames imho.

nitro · Jan 19, 2003

Quote from beantrader:

...if your going to trade futures other than the s&p go for the big bucks and trade intermediate to longterm,daytrading is chump change compared to longer time frames imho.

Thanks for ignoring the daytrading in spoos - I will pick up all the nickles and dimes you do not want.

nitro

JII · Jan 20, 2003

I sincerely thank you all for your great and sincere answers (except, of course, the well known, arrogant, egomaniac, - our friend Mr. Toobusycountingdollarstohavetimetocomeposthere - you know who you are.)

I still need a clarification howerver on this one:

Quote from beantrader:

don't day trade,

learn to be a pig,

daytrading is chump change compared to longer time frames imho.

WHY? (to all three statements).

I found this one : "Good entries, patient exits, strict discipline on stops, keep costs down, go both long and short - BUT ABOVE ALL, YOU GOTTA DO SIZE" among the most helpful, and at the same time among the most unhelpful - that's exactly what I want to achieve - the obvious question is HOW?

So far I'm very cautiously doing the S&P mini.

Thanks again.

profitseer · Jan 20, 2003

Quote from beantrader:

Experience,money management,more experience.Keep it simple,don't day trade,learn to lose,learn to be a pig,patience of a saint,be your own consul,trade and learn only a few markets,balls to the floor,learn to reel in your ego,recognition of patterns,learn the difference between gut feelings and learned intutive skills,don't drink and trade
I know this is a stock daytrading forum but if your going to trade futures other than the s&p go for the big bucks and trade intermediate to longterm,daytrading is chump change compared to longer time frames imho.

that's because it takes three days to recover from the fill in the bean pit