I also support studying the writings of Dustin and Anekdoten as well, I'm thankful beyond words to both. Have you ever seen Anek trade live ? I have, pure brilliance, at least in the NQ. Danny
market direction is mostly 50/50 random (spy/qqqq) try not to trade it stock direction is not random most of the times, it has its reasons. trading what you see is a misnomer few people understand, people see stocks as a one dimensional object, when you compare it in relative to another object or stock then you have a benchmark where you can actually trade what you see. trade on a 2 dimensional level, have a benchmark and a trading object. market direction is random. repeated once again. ---- Lets say you are trading a bag of apples, most of them in the same bag look relatively good, but how do you know how good are they since they are all from the same bag? The only way is to go a find another seller which sells from a different source, and check their bag of apples. You can't judge the quality of an apple in the same sack, some may look better then others, but if one is infected with apple flu, most likely most of them are. You can compare quality if you had other supplier. So you must look 2 dimensional.
I'm singlehandedly the most successful trader that post here, and my advice would be to study & reflect on all the posts that coolweb has made. Some of them are true gems.
Anek has presented some pretty basic stuff for futures on ET that worked for me before I knew of Anek. He is generous enough to share it in complete detail. Pay attention. Susana, you will suceed, 'cuz..... "Needless to say I refuse to give up."
I know. I know. I have been there. Shelled out the big bucks to the guru's for nothing...but, I didn't give up
I don't support studying Anekdoten or anybody else - those are your words. I doubt the guy is worth a dime. Most of the people in this thread if not all of them are posers living in their mothers basement looking for the next con, with the exception of Dustin (my apologies to others that are true, but I have been on ET far too long). Dustin stated a very simple algorithm that can be tested. The original poster already got it, but the rest of you haven't. nitro
All the info posted was good. there is endless info to read, but in the end it all comes down to -you must have Disiplined ...........Stop loss controll .........and risk controll . know your Risk to Return ratio before entering a trade. know your stop loss before entering a trade. let the profits run (or at least place a trailing stop or profit stop on some winning trades ) never , ever add more that 1 time to a losing position , and if you do- enter a hard stop below immediately . the 2% maximum loss per trade is a good start , and after 6-10 % account loss on any month , stop trading to re- evaluate methods. i read way too many books , but the best ones i read are : Entries and exits By DR aleaxander Elder and The Stock trader by Tony Oz. ...Remember - money management , Risk controll and stop loss orders are the KEY . good luck on your Journey to Profits.