Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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dr.blix
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essentially lapster i've lost plenty of money in equities and even SBing to know what using 'real money' feels like (believe it or not i even know what it feels like to gain money!)...
but only an idiot or a gambler would keep using money in a situation where consistency and education are lacking.
so 'real money' is out and pts are in, until my education results in relative consistency from a simple system.
i feel quite liberated actually! i'm nowhere near you chaps regarding education or making money from this, i'm still at the very bottom of my learning curve, but the spectre of gambling is an unpleasant one. that's what i was doing last year and up until recently SBing.
but only an idiot or a gambler would keep using money in a situation where consistency and education are lacking.
so 'real money' is out and pts are in, until my education results in relative consistency from a simple system.
i feel quite liberated actually! i'm nowhere near you chaps regarding education or making money from this, i'm still at the very bottom of my learning curve, but the spectre of gambling is an unpleasant one. that's what i was doing last year and up until recently SBing.
Agreed Manya, I never wanted to enter again above 500 as I think, as you can see on 1H/4H, that price doesn't hang around between '353 and 600 - its either going to one level or the other and wants to get there. That halfway point can be good to get on board but I'm happy to go b/e on a failed trade from either side waiting for an entry on either of those two outer levels.
If a short from 8600 fails that channel on the daily @ 8700 gives a target - although I'm quite keen on a short playing out from '600.
out 8521
I understand the sentiment - but unfortunately for me that 'liberating' feeling of paper trading also causes me to lose focus. I have to have something, no matter how small, at stake to drill home lessons learned. Everyone's different, I wish it wasn't so - paper trading would have saved me greatly, but I would never find myself either motivated or focussed enough as I do.
And hey, no flattery! I am not one of 'you chaps' with either education or an overall trading account in the black - I've been at this less than a year and it continues to be painful, laborious and enlightening. Its the ultimate reward however far down the road that's worth it, and if only paper trading worked for me I may even be able to take the hits to get there!
Split, you caught EURGBP too? Great stuff - and likewise with managing multiple trades, I was never good at multitasking!
Staying out of the whipsaw waiting period after the main early am moves as you mentioned has added much needed balance for on and off-screen time.
SuddenDeath
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can I take a poll,
which sb company are u with and how do you rate it from 1 to 10
which sb company are u with and how do you rate it from 1 to 10
Have you read Mr Charts thread (apart from Cornflower). He takes a chunk out of the middle of trending shares.
Take a look at EUR/GBP, this morning. There wasn't much gambling in that one.
dr.blix
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i've been meaning to go through it properly split. only had cursory looks so far.
Sorry to butt in, is this thread from Mr Charts on this forum? Quick search didn't find it.
dr.blix
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i hope saying i felt 'liberated' didn't sound glib lapster. what i mean is liberated from the worries of the possibility of my being a gambler. needing the excitement of money at stake to motivate me trying to trade. something i've been worried about for a while, but not any more as i feel just the same anxiety and thrill at gaining/losing pts as i did when money was involved.
paper trading would have saved me many thousands, but that's too late unfortunately. however what i've just realised is not too late, is to eliminate money now.
should money bear any relevance anyway?
if money dominates this learning process, could that be harmful in the long run?
anyhoo, i'm off to read about the marvel that is 'the divine proportion'. :cheesy:
Hi, there,
How's it going?
http://www.trade2win.com/boards/us-stocks/38036-how-make-money-trading-markets.html
He trades US stocks but the system is flexible. Like Cornflower, it is the idea. Not everything is suitable for me, but there is a lot of good stuff in there.
How's it going?
http://www.trade2win.com/boards/us-stocks/38036-how-make-money-trading-markets.html
He trades US stocks but the system is flexible. Like Cornflower, it is the idea. Not everything is suitable for me, but there is a lot of good stuff in there.
I am finding today extremely frustrating. Want to get involved but do not have a clue where we go from here. My gut tells me that the US will take us higher, but as i have no real conviction or any signals pointing to this i have no choice but to sit on my hands, which are numb .....but at least im not losing money. As i write guess what we have spiked up in the US.
We all have our own demons that come out of this - if yours is the possibility of thrills developing into something more, then paper trading suits (perhaps swing trading and not intraday trading suits even more?)
Either way, I never thought you were being glib.
Thanks as always Split.
If I can make a suggestion: see the trendline from lows of 18 June, highs 24 / 26 June, high Jul 1 - we are there now. Then look @ WS earlier post with the lower trendlines. Work between them, trade a break out either side, otherwise do nothing.
Simple and boring, but hey, as you said - You are not losing money.
I am very grateful for any suggestions. I will have a look.
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