Few Set up's?

Discussion in 'Trading' started by white, Mar 23, 2003.

  1. white


    Fellow traders,

    How many of you only trade one or two type of set up's?
    And these set up's only appear once or twice a day. Sometimes they may not show up at all. This is where I am after more than a year of trading. I find this very boring and hard to stick too. But when it appears there is a very high risk/reward ratio and very high probability of success. Just curious if other’s trade very few set up's that don't appear often.

  2. Brandonf

    Brandonf ET Sponsor

    Trading is a job, its not always the funnest thing I have ever done. I definatly find that people who try to be the jack of all trades are really the masters of none, and as a result never do very well. Most of the best traders I know have a few things they do over and over again. When those things are not available traders wait while Ex-traders did not.

  3. The set ups work precisely because they are rare.
  4. dbphoenix


    The consequences of taking those iffy trades solves the boredom issue fairly quickly.

    I guess you could say I have only two - breakout and reversal - but several within each of those categories. However, each one has to be right. If I have to wonder whether it's really right or not, it usually isn't, though sometimes I'm not sure simply because I'm tired, which is reason enough to quit for a while.

  5. fourcups

    fourcups Guest

    I agree with brandon.Trade what you know and stay within yourself!
  6. Banjo


    Dude, please stop spelling definitely as definately. It brings back memories of a particularly nasty Nun with a wooden ruler on my pre pubescent knuckles.