Flying and Trading-----What makes an expert?

ang_99 · Aug 9, 2009

Quote from NoDoji:

A lot of successful traders will tell you exactly what they're doing. There are no big secrets in trading. Here's what I learned over the past few months from other traders and confirmed it myself through screen time and actual trading:

Follow the trend: Buy on a show of strength, sell on a show of weakness.

Counter the trend: Buy when higher support is established after a capitulation move down; sell when lower resistance is established after a climactic move up.

Join a breakout: Bracket orders outside a low-volume narrow range and let the triggered order place you in the direction of the breakout. (Your stop loss is already in place at the other end.)

These tactics not only work more often than not (giving you that elusive "edge"), they provide you with low-risk stop-loss exits.
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I see nothing here about EXITS (landing), the trading (flying) linchpin.

These are all methods to take off. The easiest part of flying.

Redneck · Aug 9, 2009

Quote from ang_99:

I see nothing here about EXITS (landing), the trading (flying) linchpin.

These are all methods to take off. The easiest part of flying.
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We don't believe in exits - Just like pilots never land (couldn't resist)

Please go take a look at NOD's journal - pretty well spelled out

Regards

RN

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Flying and Trading-----What makes an expert?

ang_99

Redneck