How To Trade: Full Stop

[The Expert]

Dont you mean .."I shall depart from this public forum, resulting in the termination and cessation of all further masterclass teachings and profound knowledge dissemination "

No, I mean that I do not like liars, as telling lies does not do any person any good what so ever. Once a liar always a liar.

REMEMBER, if 1 or 2 get benefit from what I am doing then that is fine, as for the rest, well, who gives a damn anyway, I know I don't.

 

[A Dashing Blade]

I am considering opening another line of communication on this site, but before I do, I want a promise from all that might contact me that they will not reveal any details about what we might exchange. . . .

Why not start your own website, you could call it something like CityCows.Com . . . oh, wait, someone's already tried that . . . .

 

[The Expert]

From now on there will be no BS, so I will clear up a few things.

As correct stock selection is a prerequisite to profits, this needs to be automatic and not lend itself to wishful thinking, daydreaming, or any other silly thoughts.

The main thing a daytrader needs is adequate range, yet not too volatile else you will get your ass whiped many times.

Apart from upcoming news announcements, we do not need to focus on sector rotations once we have adequate range, as we already have our main driver in place, and everything else is already factored into the adequate range.

With that, our screening now goes from a lot of hard work to simple simon work, which is what we require, not to reduce the work load, but to stop us thinking about all sorts of silly things that might or might not happen.

We are DAY TRADERS, not INVESTORS, SWING TRADERS or POSITION TRADERS.

This means we only trade intraday, and we also only trade at the best times intraday.

The rest we will leave for all the "professionals" to fight over, for we have no interest in their RTA analysis or wishful thinking.

We have 3 main objectives.

1. To make $2K per day

2. To make that $2K within a 2-3 hour time frame.

3. To bank 80% of the money we make.

 

[The Expert]

Why not start your own website, you could call it something like CityCows.Com . . . oh, wait, someone's already tried that . . . .

Traders only from now on, so please dash off and play with some other fools who want to listen to you.

 

[Prawnsandwich]

The main thing a daytrader needs is adequate range, yet not too volatile else you will get your ass whiped many times.
.

For lots of people getting their ass "whiped" many times is a normal everyday occurance....

 

[The Expert]

On we go, as we have no time for useless words that just waste time, for time is money.

Adequate range is now sourced, and we have a basket of stocks to choose from.

So, how do we make the best choices, seeing that they all have adequate range and the chances of us capturing our target % of the range is very high.

How, and I will repeat, how do we differentiate between stock A,B or C?

It is very simple if you but stop and think about it.

 

[The Expert]

For lots of people getting their ass "whiped" many times is a normal everyday occurance....

if you are referring to trading related matters, then those people obviously do not know how to trade correctly, for if they did, they would have nice smooth asses instead of thick leathery ones.

 

[Prawnsandwich]

if you are referring to trading related matters, then those people obviously do not know how to trade correctly, for if they did, they would have nice smooth asses instead of thick leathery ones.

So you like nice smooth asses?!!:cheesy:

 

[N Rothschild]

2k? is that it? thought u were the real deal big swinging dick!

 

[The Expert]

Reality check time.

You will not win every trade no matter how good you are, but you can win a lot more than you lose, a lot more.

Let us look at possible for scenario 1.

Long 4K @ market

Tick down 5 cent

Loss = $200

Wakey Wakey Time.

If you think that you are not going to doubt yourself when you see a $200 loss in a few seconds, then think again.

Forget about all the bull that other traders are on about, we are talking about very realistic and attainable targets, but also about very realistic and attainable losses.

Always think well before you act, but never think hard immediately before you act, as your plan is set and it must be executed, no matter what.

Over time, seeing a $200 loss after a few seconds will mean nothing to you, in the same way as seeing a $200 gain must also mean nothing to you.

REMEMBER, we are playing the odds, and the odds are already in our favor before we started out, but if you start to doubt yourself and look for reasons for this and that happening, you will get screwed, and it will be no ones fault but your own.

 

[The Expert]

2k? is that it? thought u were the real deal big swinging dick!

Sorry, but I don't tell lies.

 

[djmastro]

Forgive me for the stupid newbie question:

Is it possible to trade on a demo platform for free long enough to become consistent, thus not risking losing a lot of capital the first year or so?

 

[N Rothschild]

clearly you do! if you were the messiah of trading you would be making alto more than 2k a day thats for sure. id be pretty ****ed off at only a 2k day!

 

[N Rothschild]

load of self indulgent bs these threads

 

[D70]

$ 2,000 goes a long way in Burkina Faso. :clap::clap::clap:

Doesnt it ex-pert?

PS. Please can you post some more baby bar charts?
I want some colouring in to do with my felt tip pens! Thanks.






.

 

[The Expert]

clearly you do! if you were the messiah of trading you would be making alto more than 2k a day thats for sure. id be pretty ****ed off at only a 2k day!

Everyone to their own, average of $2K per day for 2-3 hrs work is fine for me, has been and always will be, as I said, you "professionals" can have the rest and do what you like, for who gives a damn about you anyway.

 

[The Expert]

Forgive me for the stupid newbie question:

Is it possible to trade on a demo platform for free long enough to become consistent, thus not risking losing a lot of capital the first year or so?

OK, no more replies to the "professional" idiots.

Long and short answer is NO.

What you must do, if you really want to learn anything of value, is this.

Instead of handing your money out to idiots who think they can teach people about trading the markets, make a conscious decision that this money is now your tuition fees, and it has to last you as long as possible.

Forget about the 25K daytrading rule and having $30K to start, where there is a will there is a way. Depending where you live, or where you have relatives, you can daytrade stocks for very little money, for that is exactly how I started out, and slowly worked my way up to a bigger account size that is now adequate for any trading needs.

100 share lot is your max size until you can make money consistently, stray from this and odds you will join the rest of the RTA followers, handing out their money to fools and idiots when what they should be doing is gaining the required experiences with their own money.

REMEMBER, trading is a game for making money, not friends.

 

[djmastro]

T E - thank you for the response!

Is there some difference in the way trades are carried out on a demo platform that makes it not work when trading live?

I'm perfectly willing to dish out the necessary capital to begin trading small amounts of real money, but I want to know if time on a demo platform is worth it.

 

[The Expert]

T E - thank you for the response!

Is there some difference in the way trades are carried out on a demo platform that makes it not work when trading live?

I'm perfectly willing to dish out the necessary capital to begin trading small amounts of real money, but I want to know if time on a demo platform is worth it.

Demo trading is only for to get a handle on the software, its features, and its limitations.

If you really want to learn, just buy and sell 100 shares with a 20 cent max stop until you begin to see what you are doing wrong., which after a while you will start to see and change until you are getting better.

Forget the idiots who post all the rubbish, they are fools who will only cost you money, and believe you me, when I say, they know nothing about real trading and what one must really know to make consistent profits.

Do not ask me again, for I have told you what you MUST do, You can, of course, run off and hand out money to those who "know" what they are talking about, but do not be surprised if you do not see it working out for you, as they are only able to show you what they know, and that is very little, and very common.

I have traded with the best their is, and I know what really works, but I also know where to draw the line in the sand, for I have no interest in ruining years of hard work, just cause some idiots post some rubbish on a forum.

There is no substitute for experience, full stop.

 

[djmastro]

Thank you for your insight, T E!

Do you have any advice for which areas I should begin trading in, and some reference materials I could study to begin this quest?