Help! These breakouts are killing me

I like what you have shared but you may have broken dreams of some of the traders who have bought into the REAL THING math regarding day trading.

However, as we all know there are many ways to skin a cat. I wonder why traders at SMB capital or T3 live trade differently than REAL THING math as an example?

I am using these 2 firms examples as their traders trade LIVE and if someone is good enough they may want to go through their selection process to see where they stand. They do not have to work for them. Go through their selection process, get an offer and DECLINE the offer.

How sweet is THAT?

It's not like an offer from Goldman Sachs but an offer from SMB capital or better from First New York securities will not be a BAD offer to DECLINE .

Here is one of First New York securities trader courtesy of Business Insider.

One can click on the link and read about SMB capital trader Gman- he is not trading the way REAL THING math suggest. One can follow Gman trades if one choose to. Most of it will not make sense as he is TAPE READER and it takes some time and resources to get to that level.



"A year ago we called Adam Guren — age 28 — the Lebron James of trading. Given his consistent success like King James, Adam was the obvious choice for the top spot on our first annual list.
After graduating Duke in 2003, Adam played professional soccer for a season with the Cleveland Force before starting in the prestigious training program at First New York Securities. After a 14 month apprenticeship, Adam started trading his own book while expanding his focus from Europe to Asia.
Now, Adam focuses on global stocks. His day looks much like a British colonel’s when the sun never set on the British Empire. But with patience and discipline, Adam finds a way to replicate his success in multiple markets. He starts his process by logging on premarket. Then he spends approximately an hour, sometimes thirty minutes, seeing if there’s news out in the basket of stocks he follows. This is how he figures out if there’s any opportunities because he looks for newsworthy events that are going to move his stocks.
When I asked Adam about how he makes his moves, he said:
I’m not a technician and I really don’t study charts. That’s not to say I won’t look at them to see where things are. At the same time, I’m not a big fundamental guy based on the nature of how long I hold a position. I mean, I do understand the fundamentals of each stock and what people generally expect, but for the most part I rely heavily on intuition and the feel I have for a stock based on watching it for so long. After watching the same 50-100 names, you start to easily understand how they trade and what moves them. It’s pattern recognition.
Another key to Adam’s success is his risk management:
Every trade I get into I have a very good understanding of the risk-reward. One of the keys to success is measuring risk-reward. And one of the best ways to do that, as elementary as it sounds, is to buy low and sell high. So you want to buy when things are beat up and sell when things are overdone on the upside. I’d say I do a good job of measuring risk. It’s probably one of the main reasons why I am successful at trading.
Although this sounds very basic, it’s obviously easier said than done. Given that over 85% of traders lose money, Adam has proven that mastering the fundamentals is the key to success as a professional trader.
If you would like to nominate traders for future awards, please send us an email or comment below.


Read more: http://www.businessinsider.com/meet...der-first-new-york-securities-3#ixzz1kCEpJTVv

 

I also used to lose money when I tried to predict market direction.

The markets are set up so that most people lose.

 

HAHAHAHAHAHA

thats the most stupidest thing i have ever read here.

HAHAHAHAHAHA

You should ask yourself the question what is the market.
If you find the answer one day, you will see what a stupid comment this was.

Only people are set up so that they lose.

HAHAHAHAHAHA

 

Would love to see more live trades out of some of these posters instead of old charts and a pile of words

 

Based on your various posts, I can see that your niche is most likely taking the short side when overleveraged retail traders puke them out.

This may be true for your style of trading.

 

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

MEGA LOL

 

what just happened @5:30? why the spike in futures

 

The best option is to stick at your regular job, then learn about passive index investing via a diversified portfolio of low-cost funds (e.g. Vanguard). Split something like 60% stocks 10% gold 30% bonds, and rebalance once a year. Contribute 10-20% of your income each month into this investment pool. Avoid all short-term trading with these funds, just automatically stay in the market diversified between 2-3 asset classes.

Then, take 5-10% of your savings and use it as 'play' money to speculate in the markets. If you suck, eventual you will lose it all. If you become good, eventually you will turn it into a larger sum. Either way, you are better hedged - if you suck, you still keep 90% of your net worth and learn a valuable lesson, and you will make 6-8% per annum with acceptable risk from your passive index fund portfolio. If you get good, your 'play' money will gradually become more than your investment money, and eventually you'll be a full time pro.

Both options are far better than pissing away your earning power and savings in your prime wealth-creating years on nothing more than a wing and a prayer.

 

Good advice. This is what I have been doing for years. I just wish the play money would make something one of these times...

ES

 

This is a great post.