Mindsets of Successful Traders

You're not going to outperform high-yield dividends — lol. The only thing you're compounding is losses. You're obsessed with capital gains when you should be compounding income.

Besides, you clearly don’t have what it takes — or you’d have a (2008) Lambo too.

 

No, I swing to position Trade, depending on what the Market is doing on say a Daily/Weekly Chart.

Once again, Buying and Holding slow moving Dividend Stocks is beginner stuff, it's what every Financial Planning book teaches those who don't want to be Traders- its Investing.

Traders try to catch MORE SWINGS, to compound faster. That's why Day Traders and people like BrownMark move to smaller timeframes - more Swings, more compounding.

 

You aren't swing trading 100% yield using macd crossovers and vwap lol. Show me one month worth of trades and let's compare it to high yield.

 

Having an Accounting Degree with extended Major in Financial Planning, trading up to $400K and having studied the professional Technical Analysis associations reading list, says otherwise.

 

Agree.

Setting a stop is simple because its a combination of where you would be 'wrong' with input from your pain threshold.

Setting a target is murky.My 1:1 could easily become a 1:3 or 1:5.Never saw the point in stating it.If it gets to 5 and I can see its going to 10,my R/R isnt going to trigger me.Similarly,if its at 3 but run out of steam,I'm not holding out for 5 till I'm back at 1.

I think of it as fanning a flame.It needs constant attention early on.Could be an instant inferno but it may fizzle out a couple of times.You'll know when you can leave it to do its thing.Thats when I start researching again,trying to prove the trade wrong.

I guess the idea is to ensure your chosen instrument has the potential to go to a level that makes your risk worthwhile? x:y is just a language that some use?

 

It does make sense as a set and forget play for those not able to watch in real time.

Good point.

 

There's a time and a place for holding slow moving Dividend Stocks, but it's only at certain times in the Cycle.

 

If its the one I'm thinking of,its a very important one to remember.

The newspaper reported that he had picked the exact bottom.

He was humble enough in the interview to say something like : its not as newsworthy to say I picked the exact bottom on my fourth or fifth attempt.

 

@Baron You gotta rich with Bitcoin right, like WXY. Are you an active Trader or just a Buy n Holder of slow moving Dividend Stocks too?