Great for scalpers I guess but these crazy gap and reverse days are difficult for me. I just want to know whether I'm the only loser around....
I understand the "yeah" but not the rest of your msg. What ego? What need to be right? I'm just saying i'm having a tough time in this august trading.... and was wondering if anyone else felt the same.
The point is ego and the need to be right shouldn't matter if you have a pre-defined stop point and STAY within your risk bounds. I guess you trade for much higher profit targets. But, I don't understand how you can have a tough time in august trading if your risk is pre-defined and you stay with your trading plan.
I am staying with my defined trading plan and because of that I am not losing any money. The point is though, that I am seeing very few opportunities and am not making any either. Who do you think you are talking to, some piker?
There are tons of opportunities. I think you need a confidence boost. Maybe trade smaller size and have more patience for setups to occur until you get your rhythm.
it is pretty volitile this month, but from what i've been seeing, these huge gaps are a good time to make money. I may be wrong (i'm still a young'un) but a lot of times, if you know the general sentiment of the shareholders and have some good risk management, you can make a good guess as to whether the gap was overdone. It's only been a few days into the month and you're right, how I trade this month is very different than I would in more stable times. PS. I am still new, my opinions may be wrong, but I feel posting on ET makes me more accountable to my opinions. Good day and good profits to you!
Of course there are always opportunties in the market and every day people make (and lose) money. I'm mostly a swing-trader, closest style would be to Daniel Zanger's style, and for tha tkind of trading, I'm just not finding much to do. As I said, not losing any, but sure as hell not earning much either.
marketwhizz there's a lot of bs on these boards. if you believed these boards all are making money but the truth is few are making money. it's the nature of the beast. don't believe crap on here wether it be blotters or a lot of smack. the truth is 90% or more fail. it's just the way it is. another thing dan zangers barely trading as the markets not in defined uptrend. he only goes big when the markets in nice uptrend and tons of stocks skying
Good point. just that Zanger is sitting on 40mil and doesn't really need to trade and i've got a mortgage to pay. yes, agreed -- v difficult for people to talk about having a hard time. if you're a newbie and reading these boards you'd think everyone is a freakin millionaire and trading is the easiest thing in the world to do.