Catching the right train

Discussion in 'Trading' started by lojze, Jul 18, 2002.

  1. INTC and FNM, and guess which way they are heading....south,,,catch it if you can
     
    #51     Jul 21, 2002
  2. The "shoe shine" team made mad cash this week. How much did you lose, piker boy?
     
    #52     Jul 28, 2002
  3. chisox

    chisox Guest

    At least i didnt spend it on blow , you loser, snap out of your hangover
     
    #53     Jul 28, 2002
  4. So the answer is Chisox lost MAAAAAAAAD cash. LOL!!!
     
    #54     Jul 28, 2002
  5. Catch some trains, get knocked off of some, ride some. If you get a decent ride then it was one of the right ones. If not, hang out for a bit, another will come along.
    Easy enough to see at the end of the day which ones did best. One thing for sure though. If I wasn't on it, I didn't get to ride.
     
    #55     Jul 28, 2002
  6. One other thing. If I have been waiting for this train(setup) and I don't jump on, then to me it is surely a psychology issue.

    For one reason or another I haven't accepted the risk of the trade and plain old fear of losing my money has caused me to hesitate, then I watch it run a bit and tell myself something like, "I'm not going to pay five points higher( futures) than my entry target, what if it pulls back" so I wait for a pullback or a deadcat bounce(depending on direction)

    Then either it doesn't pullback/ or not quite enough, takes off again.....lol.....now ten point move.....and I say to myself - sure better not chase it now......

    I suppose this happens to almost all traders at some point in time. It happens to me more often than I care to admit. I am working harder to catch more trains when my simple little method says so. But I by no means catch them all.
     
    #56     Jul 28, 2002