Am I good or just lucky

Discussion in 'Trading' started by BDGBDG, Jan 25, 2006.

  1. BDGBDG

    BDGBDG

    I have been trading for the last couple of days, and I have made some nice profits. I don't really have a style. I just use instinct and tape reading. I also watch CNBC. I use charts, but nothing less than a 3-day. I only buy intraday, except GLD which I have been long for over a week. Is it possible that I can keep making money.
     
  2. Possible? Yes, Probable? Not so much. :p
     
  3. If I am interpreting you correctly, you are saying that you pretty much don't know what you are doing but are making money, so you now wonder if it can be this easy. If I am misinterpreting, forgive me.

    Not to be negative, but since you asked, I have to say, your luck may continue, which would be great, but frankly you are at a severe disadvantage unless you decide to gain some market knowledge and skill.

    In an attempt to find an analogy, imagine you are at a poker game with the majority of players being very experienced, you being a brand new player. You may win a few hands, even walk out a winner, but long term they are going to eat you alive.

    Unless, of course, you see the obvious, and realize that if you like playing, and you want to win, you better put in the effort to learn how to play as good or better than them.

    Luck is short term. Probability is long term.

    And in the market, like at the poker table, there are a lot of experienced players just waiting for your luck to run out so they can take your money with the skills that give them their edge.

    So, of course, it is impossible to answer your question of whether or not you will continue to make money with your current approach. Can't say, right?

    But the one thing I would say is, if you like the way it feels to be making money in the market, than it is definitely worth it to put forth the effort to get skilled in the game. It is not an impossible task, and if you love the game, there is no other way. It will make the probability of coming out ahead long term much, much greater.

    In any case, continued success to you, however you get it!

    Dodger
     
  4. Lucky. I started the same way several years ago. Wound up giving it back the following week. Keep working on a system and an edge and hopefully you'll be here several years later as well. Good luck and good trading. J
     
  5. Sounds like you have a horseshoe hanging out your ass. OK, to keep the streak going here's what I do
    1)while streak is alive do not, and I repeat do not, shave, take a shower, or change your boxers. The crunchier you can get them the better your odds are for success.
    2) no contact with females during Market hours.
    3)chant like a sri lankan monk while seated Indian style during the entire afternoon session
    4)since you watch CNBC, it's ok to spank it at 10 am est when Lis Claymen comes on. Don't worry, there are 1000's of perverted traders doing the same thing whenever she comes on. While I'm on the subject has anyone here seen the cans on Maria Bartiromo . I may be happily married ,but this old Korean War vet would be willing to Appletree anyone of those CNBC Market Ho's.
    That's enough of my insider info, good Luck Green-horn.
    ...Rennick out
     
  6. This gave me the biggest laugh I've ever had reading an ET post :)

    :p :p
     
  7. Huh?
     
  8. Mr. Rennick, you are a train wreck! Good stuff.
     
  9. BDGBDG is like me, we're just havin fun.

    I bought 488.00 of stock and have no idea what i'm doing lol. One thing I do know how to do is set stops and I stick to it, so thats not a problem, but for the most part, TA just confuses the hell out of me and I couldn't wait any longer, I had to jump in. :)
     
  10. zdreg

    zdreg

    hopefully this thread has legs. :)
     
    #10     Jan 27, 2006