stocktrader77
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you gotta do what not many people can to make big $$$
Kingwizz
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In order to make big money using the financial markets you need:
• A web designer to make a fancy website.
• A system (Doesn't have to work. Maybe you found one on eBay which looked ok for £10?) .
• Create some fake account shots on Photoshop.
• List it on ClickBank & watch the money role in.
I can't possible imagine how much those guys at FAPturbo are raking in. Wouldn't suprise me if it was 5-6 figures a week at the moment.
• A web designer to make a fancy website.
• A system (Doesn't have to work. Maybe you found one on eBay which looked ok for £10?) .
• Create some fake account shots on Photoshop.
• List it on ClickBank & watch the money role in.
I can't possible imagine how much those guys at FAPturbo are raking in. Wouldn't suprise me if it was 5-6 figures a week at the moment.
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rollsafe
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.yes, why does anybody try and make small money trading when we all want to make big money trading.
The secret is to buy when the short term moving average crosses above the long term moving average. Exit when it falls below it. Open a spreadbetting account and lump on with 20X margin. Then place an order for your mansion and sports car.
UTB
PS- please don't share this secret.
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Follow this link, read why this works so well !!! SUPERIOR RETURNS FROM AVERAGE INDICATORS Read it again and re-write it until you understand it well !!!
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When trading don't think about the money, just concentrate on DOING THE RIGHT THING.
IF you do the right thing, the money will take care of itself.
new_trader
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new_trader
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I should also add, trade with a close stop. Keeping losses to an absolute minimum is critical, everything else is peripheral.
hi, i am a very experienced trader of many years and quite frankly find daytrading too much pissing about. I am currently successful at daytrading but who knows how long that will last as i have found nothing consistent yet to date, things and settings work well for 2/3 years at most then markets change.
I am seriously contemplating taking a long swing postion and being done with all the messing about. I was thinking going long the dow or ym or even dia and a few stocks and taking profit when dow reaches 9300 which it will at some point and my personal feeling is by xmas. I am thinking of doing value of £25 per point or 6 ym contracts ( not decided yet if ill do sb or direct access as i have both platforms). I realise i would have to incur drawdown and possibly as high as £35k if we retest the lows again of 6800 but that is fine and i have the funds. If dow hits 9300 which im as sure as i can be it will at some point in the next year, ill make £25k. 25k is a good return i feel as most will fail in the next year daytrading. Ok the drawdown is not ideal but we are all incuring drawdown right now in our properties so personally right now i see it as a good investment. Please guys tell me your honest thoughts about this as i was thinking of starting my portfolio next week and would really appreciate your advice.
thanks
I am seriously contemplating taking a long swing postion and being done with all the messing about. I was thinking going long the dow or ym or even dia and a few stocks and taking profit when dow reaches 9300 which it will at some point and my personal feeling is by xmas. I am thinking of doing value of £25 per point or 6 ym contracts ( not decided yet if ill do sb or direct access as i have both platforms). I realise i would have to incur drawdown and possibly as high as £35k if we retest the lows again of 6800 but that is fine and i have the funds. If dow hits 9300 which im as sure as i can be it will at some point in the next year, ill make £25k. 25k is a good return i feel as most will fail in the next year daytrading. Ok the drawdown is not ideal but we are all incuring drawdown right now in our properties so personally right now i see it as a good investment. Please guys tell me your honest thoughts about this as i was thinking of starting my portfolio next week and would really appreciate your advice.
thanks
Hi james1234 - Money management and risk:reward are important but befoe we get to trade management we should cover set-up.
What makes you think this is an entry point for a long position on the Dow?
What is your expected time horizon?
What do you see that suggests 9300 is target?
What makes you think this is an entry point for a long position on the Dow?
What is your expected time horizon?
What do you see that suggests 9300 is target?
If he puts his stops under the bars, that is more difficult. Swing trading can be quite expensive if one is wrong. Trading, even, on hourly bars is too stressful for me so I am a lowly 5 minute trader, which keeps my stops at a level that I think that you have in mind.
absolutely nothing, just feel. Call me crazy, call me spanish if you like but going long now on dow hitting 9300 (1000 points from where we are now) seems as good an investment as any right now.
Everyone uses ta and ta works becuase of this i guess but i ta is still random in its nature so i probably have a s good a chance of hitting my target as any with this kind of plan.
people talk of tight stops and good entry but i have backtested most styles and the conclusion from those results were that tight stops and entry worked no better in the long run than a bad entry with a high drawdown. Infact even with the best entry i could get with my settings the code performed better with a really wide stop and infact not a tight stop. Just my own findings
infact you can even class this as gambling as i have no problems with that and am happy to be doing that. Right now im losing hundreds every day on my properties and proabaly some of you too. I think as traders we need to learn how to accpet larger drawdowns if we want to make it big, just my own view over many years of trying to find out.
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new_trader
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I read that often and I can categorically and unequivocally assert that it is absolute nonsense. Markets do NOT change. Conditions change but that doesn't alter the way supply and demand 'works' in the market so to speak. Become proficient at judging the condition of supply and demand and you will make money, not only that, you will have a permanent edge.
new_trader
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The 'bars' you trade are irrelevant. You must understand what is going on beyond the mechanical level. Remember, the high and low for the day are exactly the same regardless of the bars you are using :idea:
Nevertheless, a swingtrader will have his stops further away than I would---a 5 minute trader. The risk he runs is more than mine would be, I should imagine. I guage my stop distance on the bar length which, to me, is volatility. A stop within the length of an average bar length is asking to be triggered. The high and low for the previous day only forms the range of a daily bar and is relevant for a swing trader but, for me, regardless of what standard opinion is, it has little because the price can swing a hundred points or more in either direction without penetrating outside the parameters of the previous day's range.
That's how I see it, anyway.
That's how I see it, anyway.
James,
I agree with your outlook on the DJIA.
I have been long from 6800- the day Obama said that the stock market is a good long term investment.
IMO the bounce from the lows is an Obama rally.
While general conditions, worldwide, are still quite bad- it seems that the selling pressure has disapated because of the Obama rally.
DJIA might go as high as 10,000.
8,000 is big support now- watch that level as a place for stops- but don't get stopped out needlesly.
There just doesn't feel like there is much downside now, plus it feels like oil is going up and that bodes well for the Dow.
The economic reports will keep getting better as the stimulis plan works its way into the economy- another plus.
This rally from the bottom looks like a rally in a bear market, but could go a long way if the economic reports keep coming out good.
Seems like buyng dips in this market is a good strategy- but don't get left in the dust.
Anyhow, Good Luck
new_trader
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I am saying that a trader, regardless of how long they intend to hold a trade, should aim to reduce their risk on every trade, especially as experience improves their judgement. I am saying that a skilled trader, regardless of how long they intend to hold a trade, would have tighter stops and they would be hit less often than an unskilled trader who intends to hold a trade for the same length of time. I am saying that patience, discipline and a deep understanding of the instrument they trade is required to be a skilled trader, regardless of how long they intend to hold a trade, most people seem to argue the solution is in the 'timeframe'. I am saying that study and practice is required to become a skilled trader, most seem to think the solution is in magic R/R formulas and what not. I am saying that I disagree with 99.9% of what people say about trading because I know what is what, do you see? I have proven it to myself. Anyone else who bothers to put in the time and effort will eventually come around to my way of thinking otherwise they will continue to take shots in the dark. This is how I see it.
Disagreeing with 99.9% of what people say is taking a very extreme view, but I agree that I discard a large porcentage. I mentioned, recently, to someone who was criticising or, rather, baiting the originator of the thread, that everyone knows something. The trick is to find it and adapt it to your own style. It can be a big search.
Using TF, averages, or what have you is only a method that the trader uses to get to grips with his problem ie, orient himself to the market and enter it with a degree of confidence.
Like you, I am a user of tight stops. There is, absolutely, no use in holding a trade that is not working according to one's predictions.
Split
Using TF, averages, or what have you is only a method that the trader uses to get to grips with his problem ie, orient himself to the market and enter it with a degree of confidence.
Like you, I am a user of tight stops. There is, absolutely, no use in holding a trade that is not working according to one's predictions.
Split
