Trading is simple

Quote from bighog:

The truth is actually quite easy to understand. If a daytrader wants to make 10 times in one week what he/she (women are coming into the game fast and furious) were used to making in a regular profession, then the daytrader must be prepared to UNLEARN most of the traits that were necessary for success in the previous job, profession.

Daytrading an animal like the ES, ER2, NAZ etc require the trader to cut through the BS as fast as possible, a need to recognize as fast as possible a wrong trade no matter what the cause why the trade turned to a dung pile as fast as possible, excuses are not excepted, the only acceptable action when one screws up is to get the hell out and regroup for the next opportunity.

KISS.........as the author of this thread says. Those that use MORE than price are fools, (most not all) in general a trader that can pull consistent profits from the mkt has been in the battles and knows what is required to come out ahead. Fast decisions, pre-planed setups, spots for action etcf are the tools of PRICE. Volume usage is for "johnies come lately, indicators like volume are followers.......to win in daytrading you must be a leader of PRICE. Do not be a follower.

Ok, you get the idea.........BOTTOM LINE, daytrading requires a lot of decisions every day, taking NO position is a decision. Many, many regular everyday ordinary people roaming the earth can not operate like that, they can not handle the pressure. One simple mistake (loss) or two and they totally fall to pieces, they can not comprehend why they are making the mistakes , they rework the indicators, they reread jack hershey and his ramblings of tick trading for triple the range etc. Etc, etc. They fail to understand that papertraders are just stroking them to the max, they fail to see that those calling trades do that because they failed in the real deal of actual trading warfare.

KISS..........PRICE RULES, if you need a bunch of worthless indicators and volume to tell you what to do, you are to slow, you are destined to lose. if you can not win with price alone go look for a gal that will support you. good luck
More...

Very insightful observations BH.
I hope that many many intraday day traders, large and small, (but particularly large) follow your guidance.
 
Why do these pointless threads get so many responces?. You know what's also simple?...taking a shit. Maybe I should start such a thread.
 
Quote from cashmoney69:

Why do these pointless threads get so many responces?. You know what's also simple?...taking a shit. Maybe I should start such a thread.
More...
I think you've made a fine start already

But perhaps these threads are initiated to help/inform others

I read the most ridiculous statement by Mr Hershey for example about volume leading price and it behooves all of us to as you say.. to take a shit on that lie
 
Quote from cashmoney69:

Why do these pointless threads get so many responces?. You know what's also simple?...taking a shit. Maybe I should start such a thread.
More...

You would probably get a lot of debate from people who are constipated...:p
 
Proof that volume follows price: look at volume by price.
At some "low" and "high" prices there isn't much interest -- not much volume.
But as price approaches points where there is interest -- more volume!
Could that have something to do with support/resistance?
 
Quote from Allaces:

Some are easily entertained... no doubt they also believe volume leads price :p
More...

I guess ya got me there, bro - heheh! Too bad a life devoid of humor can be such a solemn existence! And before I scurry off to lick my wounds (from the battles of oneupmanship :) ) , may I impart a bit of aged wisdom: don't take yourself too seriously - life is far too short! (And I'm thinkin' medical studies have shown it can even be hard on the ticker ... but, now, don't quote me on that one :cool: )
 
Quote from mephistoII:

I guess ya got me there, bro - heheh! Too bad a life devoid of humor can be such a solemn existence! And before I scurry off to lick my wounds (from the battles of oneupmanship :) ) , may I impart a bit of aged wisdom: don't take yourself too seriously - life is far too short! (And I'm thinkin' medical studies have shown it can even be hard on the ticker ... but, now, don't quote me on that one :cool: )
More...
Ahhh the banter defense, one of my favourites
 
You must log in or register to reply here.
Back
Top