Hi Everyone, If i start a journal fading a guru, what will happen? I'll use rock solid discipline (which I have) doing the exact opposite of a guru's strategy. If I do this, do you think I'll make money? I always wanted to do this. But before I select a guru and then select a strategy, (in all seriousness), what do you all think will be the end result? Thanks, gotta_trade P.S. I'll post all entries, exits, and stops real time.
Before I begin, I'll have to develop a trading plan. I'm gonna have to select a guru and a trading strategy.
so if the guru sais buy here..your gonna sell here..? i think i have the right person to follow than lol
Ok who? Keep in mind that i would like to do this as if I was really attempting to learn and profit from their strategy. I have to be able to develop a clear cut trading plan and follow it with rock solid discipline.
Sometimes you'll be right and sometimes you'll be wrong. Gees sounds like fun. I hope Cramer isn't on your guru list.
For starters, as far as money management is concerned, I think most gurus would recommend that I don't risk more than 2% per trade. I'll predefine my risk and not risk more than 2% per trade. Hey, I'm developing a trading plan.
I'd like to find someone that offers the complete package. Entry, protective stops, profit targets, etc. A well known guru. Someone that unquestionably makes their money from teaching traders how to trade, you know a true guru.
When I think of guru, people like Joe Ross, Larry Williams and Jake Bernstein come to mind. Pristine Trading too. Keep in mind that I need a somewhat clear cut strategy to follow.
I have to be somewhat decisive, so I'm gonna trade stocks EOD and I won't risk more than 2% per trade. I'm developing a trading plan! I gotta pick a guru! Keep in mind, I'm doing this to try to make money. I'll give it a fair chance.