How you "get it" ?

First of all, a little background. Word of warning, this post might come as some surprise, since most members here seem to be extremely profitable, so forgive my mortality.

I've been trading for nearly three years, full time, equities at first then futures.

In the beginning I "blew up", at least that is the term used here, a small account and that's when I learned about preservation of capital.

After that, I gave it one hard look and started improving. In the meantime I have been studying price action, finally realized there is no real point in indicators, been trying to find good risk/reward setups you know the usual phase transition. Yada yada, the usual really. From ignorant to some degree of skill and trading knowledge.

However, I still can't find my way to constant profitability.

To this day, I still have not "got it". Been trying to do everything right, and still can't see what I must see. It's not a question of discipline, it's a question that I can't for the love of me find a way to consistently beat the system.

I know this is a competitive game, I realize this, lots of egos, lots of secrets.

Well if you "got it" could you please tell me what is it that I should look for because I certainly can't seem to "get it" and it's frustrating the hell out of me.

Needless to say I refuse to give up.

Susana

 

Go to youtube.com and watch trading videos. It is all free imformation maybe you can pick up something that will help.

 

well could you please elaborate on how you are proceeding right now? how do you find entries, how do you manage them, how do you exit, instrument, etc

 

Please don't advice here if you are not a successful, consistent profit making trader for at least a short while.

That is quite the problem, any newbie that read "How to Day trade online" can give advice.

I think watching all the YouTube videos are pointless.

 

Buy MOS or POT

hold for three months

make money

 

This strategy works. Take a position and promote the hell out at all the message boards you can imagine. But, I don't think it is legally permissiable.

 

SusanaDT, you "get it" by learning how to read price action.

You are correct in saying that most indicators are not very usefull ... but reading price action is.

Hope that helps.

 

Farmboy:

Thank you for responding. Unfortunately, I have already visited that route and found absolutely zero value. In fact, found the videos to be quite elemental.

Susana

 

Pull all those squiggly lines off your charts. In their place, use Price and Volume.

- Spydertrader

 

Ok, I will give it a try.

Take a positive day for example.
When price is making new highs, I enter on pullbacks looking for new highs. I try to use use intelligent stops and targets while always sticking to risk reward that makes sense.
Problem is the trend reverses on me one too many times.
I do all in all out as I consider scaling out to just be useful for the mind, not for the pocket.
It's better than what I used to do, but it's not making me any money.

Got any ideas?

Susana