Dredging up a 6 month old thread. This is the "newbie" thing. You're just a mole digging up people to thank because you seem not to have enough things to do with your life.
trading is a trade, plumber,math teacher,sewer rodder, garbage man,tv repairman.....the longer you do it the better you get,eventually you walk into any job knowing you have enough skill to finish it, it's just a variation of a job you've done a hundred times,y you need to be able to READ CHARTs, understand the used car salesman when he tells about the creampuff your buying,cut your losses and let your winners ride,for most of us it's a matter of surviving and the glorious homeruns only go to a few great batters, the rest of us work our asses off trying to make money and not give it back,learn to play the game first and hone your skills and eventually you may babe ruth it and be able to hit any pitch, there are only a few babe - esh batters,you won't find these tricks in any book or on any website,you will find them thru applying yourself to work hard every day and not give it back,there are no shortcuts,secret trading programs,if you make money for a while quick, you will give it all back,learn not to and you have learned the secret holy grail of trading
Over 80 posts in ET in your first 8 days. You're the last one to be talking about not enough things to do, loser.
ET. Same people. Same shit. Same tired old books in the "Books" section. Same pie throwing. Same same. What's the point in posting anything of value on here? Seriously? I get as many PMs blasting me as I do PMs saying "I was digging up old threads and the 30 minutes it took me to read your 'So you want to be a stock trader' thread opened my eyes! Everything clicked and starting tomorrow I'm going to follow all of your advise to K.I.S.S. and take my first step to becoming successful.... By the way, what do you think of Stochastics and using 200 day Moving Averages for entry points for day trading and how do I scalp pennies and should I try to find a way to somehow incorporate Crop Circle Sightings into my trading methods? Super big thanks for the insight!" What's the point?! Price movement, volume, market direction, blah, blah. Keep it simple and pull the trigger. You win. You lose. You have to be able to stomach this shit, or else you'll never make it. Some of my best trades I have made were Buying over-priced over-inflated stocks and riding them even higher. Because that's what everyone else was doing at the time. Or shorting into a bottom. Jesus. When market direction sucks, news sucks, short term fundamentals suck, and technicals suck (price and volume charts) it just makes sense sometimes to keep shorting even if it looks like the absolute bottom of a new bottom on a pretty chart with a couple of specks of green on the lower right side... Fuck your worries about entry points or exits. Look at the stock market like this: At one point in the future, Stock A is going to be trading at a higher price than it is right now, the same exact stock will also be trading at a lower price than it is right now. You don't have to predict what direction it will go... At some point in time, it will go both higher and lower than it is right now. Maybe 10 minutes from now it is lower, 10 years it is higher... the point is, know how long you will be holding it and cut it loose if it starts to go against you, vice versa get out while the gettin is still good when its in your favor. Ride the wins, cut the losers. Money Management/Capital Preservation, Market Direction, Price, Volume, News?, Technical Screening, general Fundamental Breakdown... It's like Black Jack. The odds say your chance to win is about 50/50. But if you could add more chips after seeing your first card is a 10 while the dealer holds a 4, or take away some chips when you have a 4 and the dealer holds a 10, then there is no reason you should consistently lose. And I'm drunk right now, so don't take any of this and go jump out of a perfectly good airplane thinking what I said is a parachute... Cause it's probly more like a fanny pack with a pair of socks inside...
A GOOD TRADER IS ONE WHO UNDERSTAND THE MARKET (SUPPLY/DEMAND) AND ALL THAT INFLUENCES THE SUPPLY AND DEMAND. IF YOU THESE, YOU ARE A GOOD TRADER