I was youngish when I started. I found a problem in my industry and came up with a solution. I then sold the solution on my own to companies that had the problem. I probably came off as the young whiz kid. I made many phone calls, sent many emails and made many friends along the way.
I was once on the other side of the desk. I hired traders. We first thought that we wanted experienced traders with a proven track record. We found that experienced traders were set in thier ways and almost all of them had some aspect of thier trading strategy that found problematic...
The ones that I mentioned often occur at the end of retracement/resumption of a trend. If you just look for that set up it will make you money. The rest can be learned over time. What I always hated was when some guru renamed the patterns with thier own name. That always confused me.
My favourite s are engulfing patterns, dojis and piercing patterns with one important note. No pattern has any significance unless market structure is also considered. For example, all the patterns that I just mentioned must be at or near a S/R level.
Hello,
My wife and I trade as a team. She had some issues with exiting trades prematurely. We went to a sports psychologist and he was able to fix the problem. So I have first hand knowledge that this can be helpful. Good luck.
Yes there are. You might take a look at trading futures contracts. They do not have the pattern daytrading rule and can be highly profitable if you know what you are doing. As with trading anything the key is knowing what you are doing. I would not risk any capital in any market unless you can...
Take a look at your exits. My guess that you will find clusters of losing trades entered during weak trends that went profitable but gave the gains back as the ema crosses the 55 ema. Even if I am wrong about that the answer will probably be found failure patterns within the results.
Greetings everyone,
I have been a trader for about 20 years. I trade mostly futures and spot forex. I also do some commercial realestate investing. I will from time to time write articles on all of the above.
John