Winning

[BeM]

Hi,
I would like to know what you, dear good and bad traders, think about this:
The only most reliable and possibly rewarding way to make any money out of the markets, by daytrading is to:
1- Have an idea, just from the opening hour or even before, where the markets might go and how the mood of the market is;
2-Buy only when the selling has stopped;
3-Buy only when you have a good belief that it's going to turn upwards;
4-Sell after you have gained between 0.1% and 0.3%;
5-Don't hesitate selling immediately if the trend goes against you downwards.
Cheers!

 

[BeM]

Well, this would work with high volume!

 

[Miki]

LOL.

Good luck with 2 and 3.

 

[jamus]

Interesting ideas but I have learnt not to have a bias as to where the market will go. I just look at my indicators and do what they tell me. I have had days when I really honestly felt biased in one direction or other. And each time that happened I got it wrong. So I think trade with your brain and not your heart!
That also includes the point of knowing when the market turns. The truth is, you can catch a retrace in a an otherwise trendy move which could prove costly. So better just be careful and get the big picture.

 

[Trender]

errmm.....

1.) You may think you've an idea which way the market will go, but usually it'll surprise you some way. Trade what you see now, not what you thought you were going to see.

2.) The selling doesn't stop - who are you going to buy from if no one's selling? It's the price that people are willing to buy or sell at that changes, which ultimately is one factor that dictates market direction.

3.) Well yes, in an ideal world, but how do you confirm this belief?

4.) Yes, you should have a profit target, but once in a winning trade the skill is in letting it run.

5.) Yup - CUT YOUR LOSSES, CUT YOUR LOSSES, CUT YOUR LOSSES!!!

You really need to think about about points one to three.

Cheers, Trender.

 

[Stock Pimp]

I trade with one simple strategy, to win! Sounds simple, but most people don't. I don't spend much time actually trading. I check the prices in the morning, consult the stars, sorry, charts and if the time is right, I enter a trade. I am very patient allowing the good trades to come along. I have spent quite a while studying the markets so I can almost tell whats going to happen. People are right, it has become a skill. Skills of course need learning, practice after all in this game loses money.. I decided to give up practicing a long time ago. I have found a system that works, and is quite obvious to see when it happens. Does anyone else have very profitable systems

 

[dsmodi]

Hogs,

V. interesting post. Any chance you could fill us l'il peeps in on your winning strategy?
Cheers

 

[BeM]

Hi,
You know, the most difficult part of it all is to sell and take a loss even if we ignore it.
A very good professor of mine told me "99.9% of day-traders lose because when they see the price is going down they hope it will recover, and they don't sell" and I said "well, some must win that money" and he said "most of it goes to the broker and the maket maker".
I asked him "how one can win then?", and his reply was simple but absolutely fascinating, "think you are trading chips, not money!"
However the main reason for losing is being afraid of losing.

By the way, I meant "when the falling of the price stops" by "when the selling stops"!

Thank you all for your appreciation!