TO namesake , forget everyone else, those who talk about big money and trading this way and that way, as most of it is rubbish and will only cost you time and money. Start small with 100 shares, for if you can not make money trading 100, then you sure as hell wont be able to make money trading 1,000! Remember that 100 pennies will always make a pound. When you work it out, you will see that it is really very easy to trade and make money, but not that easy to hold on to what you make, so, you must work out a way that allows you to win more times than you lose, and that way, you can continue to trade with small risk and still make good money, which is the essence of good trading. Too many experts that know everything about everything The only thing I know is that I really know nothing J_S Max outlay = $7,365 Max risk per trade = $30 to $100 No losers Profit = $521.64 ROI = 7.08% Duration = 2.5 days I left some on the table as I was working on my excel setups and missed some of the breakouts, but not a bit worried, as main thing when trading is not to lose if you can help it! If you do not watch the market and take your profits, even a small bit like a few trades below, or get out with a small loss when required, then you will see your profits evaporate into thin air, and end up just wasting your time like most do! Computers are there to help you make money, not waste your time talking rubbish with others on silly internet forums - so upgrade to Win10 64 bit, make sure you have a decent motherboard and processor, get at least 8GB ram, get Excel 64 bit (as it makes a big difference which I have just recently discovered), and use your PC to take most of the work out of trading, so that when you sit down to trade, you are not thinking what you are going to do, just switch on the PC, load the programmes, and get ready to start clicking as the opportunities arise. It takes a good few years to see it for what it really is, and when you do, you will understand that your biggest problem is yourself, not the software or strategies, in fact, they are the easy bits! This is what I was working on when I was trading, as I am removing as much work as possible from my trading, as I do not want to be sitting in front of a PC all day when I can be out in the garden enjoying the beauty of nature!
TO, I am not saying you are a dummy , but here is a good book that can help you make money. It is a real ebook with links to the content, save you wasting time on the stuff that does not really matter. http://it-ebooks.info/book/2237/ Nice pictures are one thing, but like all paintings, not all can see what is in the art, and the best way to find out is to start painting yourself! J_S
80 %, no wonder you find it hard to trade again. When I gave back 17k sterling in one morning back in 2007, it took me bout 2 to 3 months to start trading again, and I lost money I had already made! Prevention is always the best cure. Start small and you will be fine, but you must learn how to identify low risk entries, as by definition, low risk entry means price will move in your favor sooner rather than later, which means your stops will not get hit that often. It is up to you, nobody else, for it is your money, not mine, or the next idiot who will post here, for we are all idiots for wasting our precious time in the no see no hear world J_S
Ud 8.1..... There is that dimension, monks, where there is neither earth, nor water, nor fire, nor wind; neither dimension of the infinitude of space, nor dimension of the infinitude of consciousness, nor dimension of nothingness, nor dimension of neither perception nor non-perception; neither this world, nor the next world, nor sun, nor moon. And there, I say, there is neither coming, nor going, nor staying; neither passing away nor arising: unestablished, unevolving, without support [mental object]. This, just this, is the end of stress.
I came across Dobson by chance just before I posted his stuff, but after glancing thru some of his talks at various venues, he presents himself very well, straightforward and to the point, even if the subject is hard to grasp at times. Gravity and Electricity (charges), makes perfect sense to me, and I can understand his thought process, but not his mathematical mind, for very few can grasp the maths behind physics. In relation to trading, as that is what matters most here, I believe his theories show how one can easily take the wrong path, simply by blindly following others, instead of putting on your thinking hat like Dobson, and working out for yourself, why YOU think things are the way they are! We can always learn from others, but we must be willing to accept that what we think we know may not be at all correct, and, it is therefore best to think, that... "the only thing I know, is that I really know nothing" J_S
My eyes must be getting really bad, for I am unable to read any text after "simply" We all act foolishly at one time or another, as we are human, but when it comes to your hard earned money, one should make it their business to stop acting foolishly, and "think before you act". I am now done with all my setups and am glad to say that I am finished learning about trading, as I now know all I need to know, and have done all I need to do. For me, as we all are different, the key is TIME, and I now have 2 different strategies that I can use at 2 different times. Backtesting was not used, as there was no need, for, in order to see if something works all you have to do is trade it with small size for a few weeks and you have your answer. If it is not consistent on a daily basis, then odds are you are barking up the wrong tree, and have been listening to too many talk about too much! I remember years ago, when I started out, bout 1999, just before the dot com bubble burst, I thought I knew something after reading a few books and looking up a few internet sites, and on a forum one day, someone replied to a post I made about daytrading, and told me to "Keep It Simple". I was furious, and told the person to F.Off and mind his own business. He was of course, correct Trading is easy when you know how, like all things in life, and the big problem is that most never get enough experience due to losing most, or all, of their money by risking too much on any one trade. small R keeps you in the game so that you can learn by experience LARGE R arrives after many small R's Averages allow you to stop wishing and thinking, and keep you in the here and now It is very easy remember, if you want to that is, and it as simple as S.L.A If you want certainty, put your money in the bank. If you want to make some money trading, know that the amount you can make will be in direct proportion to the amount you have, and the amount you can lose is all of what you have, especially if you use leverage incorrectly. The introduction of Derivatives into the financial markets has cost many people to lose their life savings, but the reality is that it is each person's own responsibility to look after and mange their own financial affairs, which requires some serious thinking and some hard work. Once you hand over you hard earned money to someone else (outside a normal bank account), you have lost control, and when you lose control of anything, well, need I say any more! It really is 99.99% mental, and the easy peasy part is the act of trading, which of course the majority think is the hardest. Here is why! I could explain my 2 strategies to you in a few min, which I know you can make money using (R:R is 1:5), as I have and continue to do - BUT - and I also know this from experience, the odds of you actually using them, day in, and day out, is about 0.01%, and, the reason is due to the way you think, which in turn results in how you act! I could write a book about it, and even as I type, there is one person who is really trying hard to "stay on the bus", but he is finding it very hard to overcome years of bad learning and inadequate education (he has third level education btw), so he is really no different to anyone else out there! To see it for what is really is at the start - I do not know anyone who has done, even myself, as I wasted years of time and lots of money going round in circles - I should have listened to the person who told me to "keep it simple", instead of telling him to F.Off J_S
TO, here my 2 cents: KISS always! focus on the process not the money trade small until consistency (even paper trading is OK if treated as real trading, i.e. applying the process) MTFA look at higher TF and trade the smaller ones so that you figure out where low and high (as they relate to each other) are likely to be for the day, then BLASH or SHABL it really is as simple as that.