Hi, retire45: Thank you for your reply! Since you have been in the market for a couple decades, do you find the current market more challenging than what you have experienced in the past? Also, do you trade options, currency or futures as well? If yes, how would you compare them to stock? Are you able to apply a similar system to your trading? Thanks!
retire45, let me see if I understand this. I read this whole thread and you spend most of the time complaining about your poor trades, but you have taken a $30,000 initial equity and turned it into $90,000+ in less than ONE YEAR?? First, learn to think more positiveity, your results are outstanding! Second, some tough love for you, stop making those dumb day trade and implus buys, it's getting tiresome to read you complain about that so often when you know you shouldn't do it. With stricter trading rules you'd have even bigger winnings. Congrats - what a great thread!
Rob, Thanks for the encouragement... Unplanned trade = Dumb Trade.. regardless of outcome.. Out of CF 147, FSLR 259... Stared at them knowing they were shorts at 150 and 260 but could not click. Out of SYX Triggered into shorts MTL and EAC. By the time I looked 8% and 3% losses respectively.. Could have waited but over 3% losses taken immediately. This is the main negative of triggers.. You cannot specify time of day or bar condition for taking trade.. so Gap-and-Craps and Gap-and-Runs become bad trade for breakout type trades. Currently Short TOL 18.45
By the way, I did some math. At your current rate of return, you'll be worth $590 million in 10 years.
Rob, I am married (to a Wife capable of spending $580 Mil) with Kids so I doubt I make it past $10 Mil. LOL.. Rashid
Im sorry I interrupt.. As my trading style is very similar Its very interesting for me to follow this discussion. just curious dont you look at kft above 29 today? fantastic thread..
Hello Retire and Goldenglen, could you please comment your point of view about the following questions: - What is your big winning % from the total trades? - How do you know that the trade is going well? - How do you know that the trade is not going well? - If the trade is not going well, where and how do you get out? I suspect such questions are key success factors, not only finding and playing some setups (swing trading or BO trading or whatever it is). Trade management mus be essential. Looking forward to your comments, and Retire, please do not avoit them with something that "I don't know" or "I just feel it" and so on.