Try to enter trades where you only have to risk 2 - 3% in the hopes to gain 6-12%... or something similar. You don't need to be extremely accurate to be profitable. Taking 8% losses in lower priced stocks is going to lead to ruin or spending too much time being a "break even" trader. Good luck. J
given your background, no doubt your very bright--no disrespect meant. however, think about 90% accuracy rate---- it's simply impossible to approach anywhere near that figure. best wishes, surf
While you're catching up on your weekend reading, here's another Journal you should take a look at: Taking 76K to 500K by Year End While the author is a good trader, he also has some bad habits which could end-up bankrupting him. Try to learn as much as you can before, during and after you begin trading live. Good luck, JJ
While doing some cleaning I came across some of my old Point & Figure materials, the technique is excellent if you are a pure stock trader (I'm exclusively futures). Here's their thread: Dorsey Wright They have a free trial, and it would probably be a good idea to learn how to analyze your positions according to the P&F critiera, when I was trading stocks (uh, years ago), it gave me an extra edge in my positions. JJ
lol. it gave so much edge that jj quit trading stocks all together. what 's next? explaining how you make 50 points in the ym every day??? just kidding... i know that's a well kept secret.
Of course you realize you can't get away from this element here at ET Angelina, so I hope you have a thick skin. In answer to the question, the power of futures lies in the sophisticated use of leverage, not entry and exit signals, and it's a completely different type of instrument to trade, and not one I recommend unless you've logged many an hour in front of your screens ... and can see what other traders don't. Good trading, JJ
It's nice to have a female voice around here. This place is plagued by dicks....literally. I didn't have a chance to read everything in the first posts(they were too long), but I gather you are a very bright, smart and good natured person. Wish you the best of luck in your voyage.
Thanks for the book recommend. Ordered. Looks like a good one. I have bookshelves full of trading-related books and they are mostly worse than useless. One other honest and worthwhile book: Evidence-Based Technical Analysis. m