7 tips to be a good trader

Discussion in 'Trading' started by fortuna, Dec 18, 2005.

  1. fortuna


    Hello everybody,

    I am a French trader and even if French must not be regarded very well recently :p , I enjoy reading threads at elitetrader.

    As I learnt a lot from others, I 'd like to give a few hints to starters or also making contact with good traders.

    I am a proprietary trader in a Swiss bank specialized in equity derivatives trading and managing quite a lot of money since a few years.

    My first real hint is if you do some intraday , just play the pivot/fibo with past statistics telling which point will be be rather a reversal or a breakout. Mix these pivots with 5 minutes graph with 60 moving average. Don't underestimate what I just wrote, it is enough to make a trader's career.

    My second real hint is buy low delta options. You will lose them 90% or even 99% of the time, but rare events happen more than you think and these options will make the difference with others once a year. (I make half my money with consistent and regular high probability strategies and the other half in 1 hour with rare events: thanks to Mr Taleb)

    If that interest some, I will go on for more


  2. Go on for more my french buddy.
  3. Sacre Blue Beaujulais!!
  4. duard


    Thanks the tips!!!

  5. zman06


    yes, keep it going
  6. fortuna


    only read those 3 books

    Memoires d'un spéculateur (livermore)
    Fooled by randomness (nassim Taleb)
    Alchemy of finance (Soros)
  7. scott2828


    thanks for the advice. where do I learn about the strategies you were discussing?

  8. fortuna



    If you really want to make some money, I know one real way to do it: ie ride a strong trend based on a fundamental vision.

    Let me explain. Everything is about confidence. You need to be confident in your concept , construct your position and keep it intact until you don't believe anymore in this concept.

    I guess many trading systems (turtles), advisory services (IBD, Navellier, Canslim ...) are attracting traders because they give u some kind of confidence . However they are risky and when u undergo a drawdown, u lose confidence and that is why so many are unable to make money with it.

    So charts, trend following systemes, various advisory are at the end not worth it. They are not based on sound, authentic and informed ideas.

    Be simple, find a good informed idea and ride it.
  9. Scott,

    Here's a hint, start looking at sma and emas on 5,30, and 60 minute chart. When they all show the same thing your chances of winning are much higher my testing has found. Regarding Fibo, look up fibonacci retracement levels. Also look up http://www.deltat1.com/Education/tools/pivot-calculator/. I appreciate the post Fortuna, you French aren't all bad, lol :p
  10. bon soir julien

    merci por le informacion

    je parle un pea francais ( ok very little )

    your english is pretty good ( bon chance in 2006 )

    anyway ... changing the subject a little

    what happened to the bourse traders on the MATIFF ?

    were they were replaced by upstairs screen traders
    like the LIFFE ?

    can you rec. 2 nice french wines say for under
    $20 Euro ? that you like ( 1 red , 1 white )

    a bientot !

    #10     Dec 18, 2005