A suggestion for struggling traders

Discussion in 'Professional Trading' started by ProfitTakgFool, Jan 14, 2008.

  1. After reading this board for a little over six months I see a common theme among struggling traders. They all want something. They "want" the market to go up. They "want" the market to go down. They "think" a move is coming. Losing traders trade on what they "think" or "want" to happen, not on what actually does happen. Who cares if we go up or down, all we need is movement.

    When you get up tomorrow and flip the switch think like this, "Up or down doesn't matter. Who cares that we're deeply oversold. If I get a short trigger I will take it and manage it accordingly."

    There ain't one single person on this board that knows where the market will open and close tomorrow but there's no end to the posts that read, "Who thinks the ES will be up 10 points tomorrow?" What you "think" or what I "think," for that matter, is meaningless. The market is gonna do what it does, regardless of what we think or want. You have to be able to develop a neutral bias and just trade the movement.

    Anyone who walks into the office tomorrow thinking, "I'm bullish today and I'm going crazy long" is flat out done. Just take the triggers that are presented and take the money the market offers you.

    Our jobs as traders is this simple: We put ourselves in a position to take advantage of opportunity <b>when</b> it is presented. Emphasis on the word <i>when.</i> You or I don't get to decide when "when" is.

    My day today went like this....market opened up and started falling after the bell. I was given a long trigger so I took it. I took the profit at +1.25 points. I sat here from about 8:45 to 1:45 cst, doing absolutely nothing. The market didn't give me a trigger for 5 hours so I sat there for 5 hours like a bump on a log waiting....just waiting. I got my trigger and 3 more points. It was an exceptionally slow day for me but I didn't ever develop any kind of bias. If I'm offered a long or short trigger I will take it -- it's that simple.

    I don't ever "think" or "want" a move to happen, I just fade it after it does. If the market is falling I'm buying. If the market is rising I'm selling. I'm trading on known <b>facts,</b> not my feelings or desires.

    Good trading to all and "free yourself from the burden of having to be right!"
  2. That's an excellent post PTF.

  3. im just wandering when market fell 8 days in a row did you bought that to :)
  4. Absolutely! I'm a day trader, I just trade the movement. Does the market go straight down or does it stair step? All I need is a bounce.

  5. I hope they fix spell check soon.
  6. No grammar check, though...
  7. I hear what you're saying PTF ... so just reverse the thinking and always trade with the dominant trend, and I'll be on board with you 100% :D

    Nah, do your thing and I'll do mine, it's what makes the merry-go-round.
  8. Q: What is the job of a trader?

    A: The job of a trader is to follow the market.

  9. There are plenty of ways to make money going long into an overall down move...

    I thought that would be common knowledge.... oops....

  10. xxxskier

    xxxskier Guest

    100% right on.
    #10     Jan 15, 2008