I was looking around trading rooms and forums and stuff recently and it seems everyone is killing it. Most trade a 'long only' system of some sort. All different styles. I was in a room yesterday and the guy was taking live trades on the mic. All live. screensharing etc. Showing his accounts and stuff and he was making like 5-10k per day very consistently for a long time. His system is basically to go long on triangle breakouts on a basket of stocks. I saw someone else who has been making lots of money for a year or so whos system seems to be to go long on stocks that gap up large on the day. There's probably other rules, but that seems like the general gist. But then, we're in such a bull market that it's maybe hard to not make money going long and the system is basically irrelevant Even i've been doing well with my stock plays (only taking longs). Some big gainers. But then I look around and most stocks are going up most days haha And I could say the same about when we were in a bear market and i'd see certain people killing it with simple methods, but who were all 'short based' traders. Maybe the holy grail is to just identify the much much bigger 'trend' (which is kind of easy and hard to miss?) and just trade any old 'method' in that direction lol I guess the hard part if not losing too much as that 'trend' changes. So if/when the market ever stops going up a few percent per week/turned into a bear market where shorting using any old method/system would work But everyone is like a trading genius at the moment as everyone only goes long and the market only goes up
%% LOL good points/ general rule is investors make much more than traders /long term longs. But even Money Markets traders/investors can make a Fortune in this bull market; some inVer$e ETFs can do well \ but it$ a different trend . So No Not just a BIG trend /LOL; but like the song says \ never dreamed a bored out Ford could go\ so slow \ dont you know ??...............Cumberland Song 1,207,777 video views. Several versions, TBN + one that starts @ 2:29 :58/2:30+,CST Everyone is a trade genius?? LOL depends on the trade; 2004 Stock Traders Almanac was dedicated to WON[Investors Business daily Founder]; but those leveraged ETFs may get craZy about 2;30 CST
Quote of the week.. Happy Friday First Post...Welcome to EliteTrader. Great First post. It took me a long time to realize that the general market has been designed to Only Go Up. And if it ever falls...just close positions for a while and wait for the next bull... it will arrive fairly quickly
Not everyone is making money, Not everyone will keep the money they’re making, Not everyone will be there to compound for the next bull run … But you can be one of them. Buying high tight flags during a bull run is a sound strategy. I am a big fan of Jim Roppel and Qullamaggie.
%% LOL Pricechange ; wow about the time you posted SPY is changing back up / 30 minute green candle............................................................................................ Good SH run /while it lasted LOL..................................................
HINT: For Futures (YM. ES, NQ) The over night market vs average daily range is a good indicator whether it will be a Trending Day or a Range Day.
%% ES/SPY/sso\SH is a good benchmark\ i seldom look @ cr*p like YM or Dia LOL barchart.com has a 100% buy on ES, PARTP[parabolic Time Price is a buy on \ES\sso\spy; 80% buy SPYG\ LOL 100 % sell on spxu/spxs. REALLY some of that gets confusing; mainly dont look 2 cr*p like YM 100% seldom works as exact as that.I'm a big fan of barchart.com, + IBD. American Hedge Fund book helps if one likes a nationalist capitalist + i do2 I would never put 100% in SPY or SPXS, or sh,but thats just a barchart.com technical measure\ NOT position size LOL
I only follow my own analysis, but damn, 100% buy for ES on any Financial Website is very strong. For outside influence I do look at the Dynamic Linear Regression on Trading View on daily charts. It's been a good measure for reversals when price crosses over the top or bottom channels.
%% 100% buy on ES june alsobarchart.com I DID buy SPY last 15 minutes to close daytrade, but not enough to kill days profit; last few 30 minute candles on ES /SPY going Up. I usually make more on SH than spxu on a day like today; but starting trade on SPYG today did so poorly, probably made more on spxu than slower sh. RSD poster had good timing for day\ weekly\ downtrend; strangely on his first bullish/bull market, everybody bullish post I've made more in my life on longs than shorts or inverse; but as bad as small start position on SPYG did today\ LOL\ that works well to /then/ usually profits on /SH................................... then. but SH can be super hard to get filled, so slow moving.LOL Good thing i have metals business , dont scale that much, metals but good % profits business
The stockmarket has an upward bias if you have not figured it out yet. That is why Index Funds are beating practically all mutual funds. That said, bear markets can decimate most accounts. You are better off knowing how to be short when the whole market is tanking or atleast, get into cash. Stick to the major trends, either up or down, does not matter and make monies. When you have a strong trend, that is when you make the most monies.