reminiscence of(yet) a (novice)trader

This is a discussion on reminiscence of(yet) a (novice)trader within the Trading Journals forums, part of the Reception category; cant believe someone selling a course on trading saying entries arent all that important compared to exits. i have to ...

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Old Feb 23, 2013, 11:53pm   #9
Joined Jul 2010
Re: reminiscence of(yet) a (novice)trader

aag100 started this thread cant believe someone selling a course on trading saying entries arent all that important compared to exits.
i have to disagree.entries and exits are just as important as each other.
a good entry gets you a better price which can result in a winning trade or if its wrong,getting out with a smaller loss.you should pay just as much attention to entries as exits,can save you the pain of sitting and watching a trade going against you.
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Old Feb 24, 2013, 2:01pm   #10
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread others selling numerous trade set ups.there is only ever two trade set ups,a long or a short. some selling set ups around your other work commitments,trading in your lunch hour,trading before you go to work,trading when you come back from work.if it were that simple to take money from the market why would you want to have another job.
in summary,the market doesnt care for your life shedule and those two trade setups can occur at anytime or sometimes not at all.
in my opinion those wanting to make a living from trading need to treat it like a full time job and put in 8/12hr days
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Old Feb 24, 2013, 2:14pm   #11
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Re: reminiscence of(yet) a (novice)trader

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Originally Posted by aag100 View Post
others selling numerous trade set ups.there is only ever two trade set ups,a long or a short. some selling set ups around your other work commitments,trading in your lunch hour,trading before you go to work,trading when you come back from work.if it were that simple to take money from the market why would you want to have another job.
in summary,the market doesnt care for your life shedule and those two trade setups can occur at anytime or sometimes not at all.
in my opinion those wanting to make a living from trading need to treat it like a full time job and put in 8/12hr days
Not really if one was trading long term trends!
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Old Feb 24, 2013, 2:59pm   #12
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread
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Originally Posted by Steakeater View Post
Not really if one was trading long term trends!
long term to me is investing rather than trading.
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Old Feb 24, 2013, 6:14pm   #13
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Re: reminiscence of(yet) a (novice)trader

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Originally Posted by aag100 View Post
long term to me is investing rather than trading.
I wouldn't say that trading trends over a few weeks or months would be deemed investing. This type of trading does not require you to sit in front of a computer all day.
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Old Feb 25, 2013, 6:11pm   #14
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread
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Originally Posted by Steakeater View Post
I wouldn't say that trading trends over a few weeks or months would be deemed investing. This type of trading does not require you to sit in front of a computer all day.
indeed nobody wants to sit infront of a screen all day but that is where the craft is learned.once this is understood then you can call your broker from your golf club to sell sell buy buy but if newbies think they can do that from the beginning then i wish them good luck.
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Old Mar 27, 2013, 10:33pm   #15
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread the best thing i have read on trading -
although the cheetah is the fastest animal in the world and it can catch any animal on the plains,it will wait until it is absolutely sure it can catch its prey.it may hide in the bush for a week,waiting for just the right moment.it will wait for a baby antelope and not just any baby antelope,preferably one that is sick or lame.only then when there is no chance it can lose its prey does it attack.
that to me is the epitome of professional trading - Mark Weinstein.
think about it.how does this translate to your trading?
i'll let you know how it translates to mine next time
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Old May 14, 2013, 2:16pm   #16
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Re: reminiscence of(yet) a (novice)trader

aag100 started this thread what time frame?
i have heard that question asked many a time and have also racked my brains for years looking for the answer.
each time frame paints a different picture and i think the answer is to be totally faithful to one time frame.enter when the pattern dictates on that time frame and exit when it dictates.moving from one time frame to another trying to get the best entry and exits only adds to the confusion.
bigger the time frame-fewer,longer trades.bigger risk/reward and conversely for shorter time frames.
big players no doubt use daily/weekly charts.this can mean having to wait days/weeks,even months for a trade set up.over the years they have developed the patience to sit out and do nothing. this is what smaller players(including myself) should aspire to.
for now i need to develop my skills and need more action.for this i'll be trying to stay completely faithful to the 10min chart.this i find gives me 3-5 trades a day.
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