you don't. if you are asking this question, chances are that you are one of the 98% of the people on this site who don't have a clue... and a plan is not gonna do you any good. just watch the charts for 5 years, then you will have a plan in your brain. and it's gonna be so simple that you don't need to write it down.
Don't know it to be bored it is a quality. I can't respond when I have no idea on earth what you are saying. How about this. Say it in your own stinking language. I speak a few languages fluently so I bet I read/write a foreign language better than your ape-like gibberish. And if not I can hire a damn interpreter who will tell me what the hell it means. On the other hand, it seems like the way it goes in your mixed up part of the world is WHEN SOMEONE ATTACKS THE US, AND WE RESPOND, WE NEED A PSYCHIATRIST. NOT THE DAMN ATTACKER, BUT THE DEFENDER NEEDS A PSYCHIATRIST. I SEE. And let's also see, little losing clown. If someone disagrees or criticizes the fat stupid almighty malestrumer, then that makes the criticizer A BAD TRADER? No proof, just your opinion is proof. Hmm, nice leap of logic dung beetle eater. Then I can play that game too. Whoever criticizes Puretick means that his/her mother is a prostitute. Here I will say it in your native tongue: "blamoa iquebadeska mulotueghu, sterenchien, flambasco." If I have to interpret your gibberish interpret the above, asswipe. Successfully, Alex L. Wasilewski Co-Founder & Head Trader Trades That Work www.puretick.com 1-877-GOLONG1 ( 1-877-465-6641 )
buy supp in a bull market, when wrong , get out, sell resistance in a bear market when wrong get out. This is a basic trading plan, like a sandwich, you start with the basics, 2 pieces of bread and u build to your tastes
easier said than done.. first, how do you know its a bull or bear market? second, you would have to be like a robot and execute no mattter what.How many have the tenacity to do that?
we are in a correction or bounce in a bear market , your trendlines will tell you that, start with a yearly ,then monthly, then weekly then daily the spx yearly has res at 994 and 1054, and long as we are below those #s we are still in a downtrend
Bull/bear can be intraday, daily, weekly, monthly, yearly. Pull up a chart in your time frame and if price is riding along a rising 20-period moving average (MA) - bull; riding below a falling 20-period MA - bear. If bull, buy at or near the 20 MA; if bear sell at or near the 20 MA. The chart attached is an intraday chart (for day traders), but the bull/bear patterns could apply to any time frame, swing, or buy and hold. I'll admit it's not easy to stay focused intraday and play everything just right; an automated system should be a big help, at least in terms of quick entries. I think I would still prefer to manually manage my exits. The 6/12 post on my journal includes a chart of some intraday SYNA trades I did using a similar in/out tactic: http://www.elitetrader.com/vb/showthread.php?s=&threadid=132626&perpage=6&pagenumber=138
IMHO Detached, opinion-less, simply responding to what is observed without hesitation or reservation I supposed that could describe a robotâ¦. And - human behavior based on a certain mindset too â I believe How many can / or have the tenacity to - do this..... Not absolutely sure â I fully admit⦠But I am relatively certain there are some who can Sir⦠Yep I am pretty sure theses folks do exist Just food for thought RN
Planing gives me the willies. Serviving few 5 year plans is enough for me. I will suggest the one should create a map of the situation and one should mark all important regions on the map. During the live trading one should use that map as reference. As the day progresses one should adapt to the new situation. This requires skills to assess what is going on today and compare that to the map. Hundreds of hours of drills should be preformed (preferably using real money and real leverage) to practice reaction to the various surprises so the reactions becomes proper and second nature. MM should be a second nature as well. Your brain should have been pre programmed to see that a situation offers good payback to the risk involved to the win%. If you start to look at 3-4-5, God forbid more, inputs, and call your mom, to make that decision, you may as well kiss your money goodbye. You should get to the point where nothing can surprise you. You have drilled so many situations that you are ready to take anything on. During the trading tomorrow you will not freeze and you will not give up. You will be calm and cold like a Monocled cobra. You have the map. You have done all the drills. Your brain can recognize a good risk to reward situation on the fly. Now you sit and wait and wait for that short/perfect moment when you strike. In and Out. "Wham bam thank you mam". I like to think that this is not planing. You can't plan success but you can work damn hard for it.