You make it sound like having a high probably set up is like having a crystal ball?
What you talking about is 1 piece of the 1000 piece puzzle.
gotta_trade
Trading Methods?
- Thread starter Solace
- Start date
You make it sound like having a high probably set up is like having a crystal ball?
What you talking about is 1 piece of the 1000 piece puzzle.
gotta_trade
Want a high probability set up to having a healthy life?
Eat well and exercise.
How many of us can do that successfully?
So even if you know the "high probability" set up, it doesn't mean you're going to benefit from it. (even if you have 100% intentions of having it happen).
The other 999 pieces to the puzzle will determine the potential outcome.
gotta_trade
Eat well and exercise.
How many of us can do that successfully?
So even if you know the "high probability" set up, it doesn't mean you're going to benefit from it. (even if you have 100% intentions of having it happen).
The other 999 pieces to the puzzle will determine the potential outcome.
gotta_trade
gotta trade,
Throw out the 1000 piece puzzle. Keep it simple.
Did you notice that stocks rally every day? Ever tried to pick those winners. It's great fun. It's like picking the winning horse but much less risky.
Figure out how to tell which stock is likely to go up. When you get good at it you'll make plenty of money. KEEP TIGHT STOPS.
Throw out the 1000 piece puzzle. Keep it simple.
Did you notice that stocks rally every day? Ever tried to pick those winners. It's great fun. It's like picking the winning horse but much less risky.
Figure out how to tell which stock is likely to go up. When you get good at it you'll make plenty of money. KEEP TIGHT STOPS.
Thanks, I'll be sure to keep that in mind.
dphoenix,
reidd5525 has a crystal ball. When you have one of those you can easily do things like that.
gotta_trade
I have always maintained that trading/investing is about 65-70% mechanical/technical and the balance is "art". Most people try to make this a set recipe that will make them money without any risk or work.
Trading is no different than any other small business that one would choose to open.
One would not open a machine shop without having a thorough knowledge of that particular industry. You would analyze the location, cost of rent, number of employees needed, level of competion, gross profit potential, etc.
But, for some reason that escapes me, every one thinks they can just open an account and become an active daytrader without any of the fundamental requirements needed in any other small business.
I would suggest you set down on paper a true business plan for your trading career. How much capital? Expected profit? Cost of operation? Exactly how this is to be achieved?
Go back to square one on your endeavor. Start from scratch again to see what you are doing that is causing you to not to meet your goals. Maybe change from daytrading to more of a safe two/three day swing trade.
Good luck
Steve
Trading is no different than any other small business that one would choose to open.
One would not open a machine shop without having a thorough knowledge of that particular industry. You would analyze the location, cost of rent, number of employees needed, level of competion, gross profit potential, etc.
But, for some reason that escapes me, every one thinks they can just open an account and become an active daytrader without any of the fundamental requirements needed in any other small business.
I would suggest you set down on paper a true business plan for your trading career. How much capital? Expected profit? Cost of operation? Exactly how this is to be achieved?
Go back to square one on your endeavor. Start from scratch again to see what you are doing that is causing you to not to meet your goals. Maybe change from daytrading to more of a safe two/three day swing trade.
Good luck
Steve
There are many ways to trade the markets successfully and consistently, but what works for one trader does not necessarily work for another and so on.
Much more has to do with the midset of the trader, than the actual method itself. If it was all down to method, then anyone could trade any method equally as well as anyone else trading it successfully, but it has been shown time and time again that this does not follow.
Psychologically, some people can hang in for the entire trend, others get shaken out. Some can scalp pennies, others can't. This has less to do with skill levels, but more familiarity with doing it and the right mindset/mental make-up to actually do that type of trading.
No-one can teach you this mental aspect of trading, only over time can you learn it for yourself.
Best
Natalie
Much more has to do with the midset of the trader, than the actual method itself. If it was all down to method, then anyone could trade any method equally as well as anyone else trading it successfully, but it has been shown time and time again that this does not follow.
Psychologically, some people can hang in for the entire trend, others get shaken out. Some can scalp pennies, others can't. This has less to do with skill levels, but more familiarity with doing it and the right mindset/mental make-up to actually do that type of trading.
No-one can teach you this mental aspect of trading, only over time can you learn it for yourself.
Best
Natalie