Knowing when not to trade.

Discussion in 'Trading' started by Runningbear, Mar 7, 2003.

  1. It just occured to me that the real secret to trading is actually knowing when not to trade. The willpower you need to sit on the sidelines during a dull market is extreme, but those that master it are in my opinion the really great traders.

    This thread is dedicated to those with that willpower.

  2. dbphoenix


    That particular light is a major one :p

  3. bobcathy1

    bobcathy1 Guest

    Today is one of those days IMHO.....

    it is very volitile for sure......but my indicators are so off it is really risky......good day to loose a lot of moolah.......:eek:
  4. You're definitely on the money. I've learned my lesson and have seen the "light" :p
  5. for the compliment. I must say that long ago, I realized the same thing. Sometimes it takes not just days, but weeks, and months.

    As crazy as that sounds, its true. For example, the last 4 months have been killer, and not for trading.

    Hopefully, the market will pick up in April, after we crush iraq.
  6. dbphoenix


    Walk toward the light, Carol Ann.

  7. Runningbear,

    I very much agree. This is one of the things that can take years to realize and control. Well, for me anyway. :-/
  8. nkhoi


    'flat is a position' -gb
  9. The best time not to Day Trade if you want to guarantee you wont lose money is 7 Am - 8 Pm eastern standard time.
    In my 3 years of trading that is the only thing I can say is a
    100 % sure thing :p
  10. I tried trading from 1993 to 1995. I made a little money, but not enough to justify the frustration. It cost $30 to $100 a trade then, even with "discount" Charles Schwab, and it just wasn't practical with the money I had.

    So in 1996 I put it in funds, and left it alone.

    In 1997, the asian currency scare spooked me. I moved everything into bonds.

    In 1999, with interest rates dropping, I sold the bonds for a profit, and used that as a down payment on a house.

    In 2002, with I decided to take advantage of the real estate bubble, and cashed out of the house.

    I started trading again a few months ago.

    NOT trading for several years, and completely avoiding the internet mania, probably is responsible for preserving my capital much better than for many people who got caught up in it.
    #10     Mar 7, 2003