Trading is simple!

[9samscott]

What’s the biggest challenge or frustration you’re having with trading and making money?

I have been successfully day trading for several years and I came upon this site looking to improve my long term investment strategy. However after reading through the posts I notice a lot of people are really struggling. So in the spirit of paying it forward let me know your answers and il see if I can be of any help. Once again...What’s the biggest challenge or frustration you’re having with trading and making money?

 

[NVP]

you came upon Trade2win after several years of trading .......can I ask what Forum you have been using please ?

 

[9samscott]

you came upon Trade2win after several years of trading .......can I ask what Forum you have been using please ?

This is the first one. I was lucky enough to have a friend who mentored me in day trading.

 

[be-positive]

sam ---- why should you need a long term method if you already posses a winning day one ---- spill the beans and give us all some tips on your day trading method

 

[9samscott]

sam ---- why should you need a long term method if you already posses a winning day one ---- spill the beans and give us all some tips on your day trading method

I am not here to justify myself. But why wouldn't I want to increase my profits and net worth? Surely everyone on here wants to make more money. Diversifying and having several sources of income is simply an insurance policy

 

[rexlord]

What’s the biggest challenge or frustration you’re having with trading and making money?

My biggest frustration was when after spending years studying and trading, I finally realized that I am not even making minimum wage trading when it's all said and done with all the time I've spent.

 

[tomorton]

My biggest problem with daytrading is getting dragged into stupid new trades or holds in order to make a profit on that day. I can't daytrade until I can get past this.

 

[NVP]

I am not here to justify myself. But why wouldn't I want to increase my profits and net worth? Surely everyone on here wants to make more money. Diversifying and having several sources of income is simply an insurance policy

Totally,agree ....

So,why not,share a little,of,your methodolgy here .....the current proposal,you are offering is too generic for trade2win membership to bite much

Trust me
N

 

[NVP]

My biggest frustration was when after spending years studying and trading, I finally realized that I am not even making minimum wage trading when it's all said and done with all the time I've spent.

Good point ......and at least you have the objectivity to,recognise,that is the case at the moment for,you

Most traders live their lives in complete rejection of the facts regarding opportunity costs of a trading path ......it's got,to,pay it's way

That to me sounds like someone smart and objective enough to make it happen and turn it around ....so good luck to you and I hope it does work out

N

 

[dbphoenix]

Totally,agree ....

So,why not,share a little,of,your methodolgy here .....the current proposal,you are offering is too generic for trade2win membership to bite much

Trust me
N

His methodology isn't particularly pertinent. He offered to provide suggestions to those who are struggling if they were willing to be specific about exactly what it is they're struggling with. So far the only one who's done so is Tom. His suggestions may be worthless, but I see no value in driving him away before he has the chance to make any.

 

[JackRab]

I get offended by the title of this thread.... that's probably one of my frustrations... thinking it's too simple at times. And then I get smacked in the face, dragged back to reality that you actually need to do your homework...

 

[victoriajensen]

Trading is simple when you know what you're doing. If you don't, it can be very complicated.
As for my biggest frustrations - I think it's my own lack of patience, above everything else.

 

[timsk]

What’s the biggest challenge or frustration you’re having with trading and making money?

Hi 9samscott,
Welcome to T2W.

In answer to your question - my biggest challenge and frustration is dealing with sideways chop in a narrow range. That's a killer!
Tim.

 

[Splitlink]

Hi 9samscott,
Welcome to T2W.

In answer to your question - my biggest challenge and frustration is dealing with sideways chop in a narrow range. That's a killer!
Tim.

Do you do it, Tim? Honest question with no tricks. I ask because I've just got out of FT with a 2 point profit after 50 mins, If I get a break, I have to try it--can't see any way to avoid it, but I'm likely to get fed up, get out and then see the damned thing shoot away, afterwards. Why does that happen to me while others make 50 or a 100 points?

I think that I'm going to have to change my name to "Baffled".

 

[dbphoenix]

Patience
(edited)​

RULE #1: Learn to use inaction as a weapon.

RULE #2: Don't get irritated or angered by long session of folding.

RULE #3: If you've been folding a lot, for a long time in the game, and you're starting to think that maybe it's time you got in and played a few hands again – that's not a good enough reason. Keep folding.

RULE #4: Don't feel like a martyr when folding.

RULE#5: Sometimes others get to play and you don't. Make peace with this idea. Cross your arms and sit back.

RULE#6: To win at poker you must embrace the idea of breaking even. A distaste for breaking even can lead us into the valley of pressing and overplaying and other wrongful activity.

RULE #7: Regard patience as a central pillar of your game and strategy. Don't assign it a secondary or lesser role.

RULE #8: Keep plugging away. Expect nothing. There will be times when you play tight, keep playing tight, and keep on playing tight, and it still does no good; the bad cards just keep coming. You may have to just keep doing it until the end, with no reward at all.

RULE #9: Don't fall into the "Now Trap." Players want to win now, today. Results must happen now, in this hand, the one right in front of us. We assign a little more importance to where we are. We make it bigger, more important. But we do this timewise, too; we assign things more importance because they are happening in the present moment. Yet giving greater importance to the present in the game of poker allows us to imagine marginal hands into good hands and good hands into great hands.

RULE #10: The long run is longer than you think. Playing only the best hands can be frustrating. Anger and irritability can arise. The emotions can be severely tested. This is where Zen comes in.

RULE #11: Don't defend patience too strongly. You can't make yourself go to sleep through sheer strength of will. It is not about the strength of commitment; it is more of a gentler thing, a letting go.

RULE#12: Don't be impatient about patience. Your brain is telling you to play patiently while your emotions are saying, "What's taking so long?" These two must be in alignment.

RULE #13: Occupy yourself while you are not playing. The fact is, if you are playing correctly, you are going to be doing a lot of folding, so you need to think of ways to fill this time. If you hate this period of time when you're not playing, and some do, it will have the effect of throwing your game out of kilter.

RULE #14: Begin by playing tight, but don't forget to stay tight. The important thing is not who possesses the control and discipline at the start of the game, but who possesses it at the middle, the end, and all points throughout.

RULE #15: Discipline your game. It is more like patience, pacing yourself (especially emotionally) for the length of the game. It is different than mere patience, however. It comes from a larger and longer-term view of things, one that steps back and sees things as a whole.

--Larry Phillips, Zen and the Art of Poker

 

[timsk]

Do you do it, Tim? Honest question with no tricks. I ask because I've just got out of FT with a 2 point profit after 50 mins, If I get a break, I have to try it--can't see any way to avoid it, but I'm likely to get fed up, get out and then see the damned thing shoot away, afterwards. Why does that happen to me while others make 50 or a 100 points?

I think that I'm going to have to change my name to "Baffled".

Hi Split',
Apologies if I'm being dumb here, but I don't understand your question. Do I do what? If you mean do I trade tight sideways ranges, yes - I try to is the answer because, like you, I know that sooner or later price will break out and take off. And, when that happens, I want to be on board.

This morning with the Dax is a perfect case in point. Price has just meandered about haphazardly in a 50 point range - a nightmare to trade. I've had broadband problems so, fortunately, I was only on demo and the losses don't count! It's unusually messy at the moment, which I attribute to the referendum. When that's out of the way, I hope that the nice large intraday swings that the Dax typically gives us will return.

Hope that answers your question?
Tim.

 

[thunderboy]

I don't think trading is that simple. It requires very much knowledge, and also it needs much practice. Thus we do trading through demo account at first.

 

[dbphoenix]

I don't think trading is that simple. It requires very much knowledge, and also it needs much practice. Thus we do trading through demo account at first.

Very much knowledge? Not really. The ability to distinguish among up, down, and sideways. What to do about it leads to the trading plan, which requires some knowledge but mostly the doing.

Practice? Yes. After observing, which provides the raw material for the trading plan.

Trading through a demo account? No. Not until the trading plan has been thoroughly tested.

 

[Splitlink]

Hi Split',
Apologies if I'm being dumb here, but I don't understand your question. Do I do what? If you mean do I trade tight sideways ranges, yes - I try to is the answer because, like you, I know that sooner or later price will break out and take off. And, when that happens, I want to be on board.

This morning with the Dax is a perfect case in point. Price has just meandered about haphazardly in a 50 point range - a nightmare to trade. I've had broadband problems so, fortunately, I was only on demo and the losses don't count! It's unusually messy at the moment, which I attribute to the referendum. When that's out of the way, I hope that the nice large intraday swings that the Dax typically gives us will return.

Hope that answers your question?
Tim.

You have answered! I do that, too, but it seems that you have a wider high/low area than I do. That's, probably, the reason.

I'm talking Double Dutch, today. I think that the heat is getting to me.

 

[new_trader]

The Art Of Gambling

Kenny Rogers - The Gambler...simple as trading