Recently, someone mentioned "3 W's" in a post on diff thread. The majority overlooked the importance of "3 W's" , but a very small few knew exactly what the post meant. Some things really never change! J_S
This is incorrect . Until a trader learns how to utilize prudent risk management, timing is of no value.
Anyone, I mean anyone, can time trades correctly. This is not a major skill set. The skill is in the management of the trade.
By definition, if you can time trades correctly then you can make money because even a timed exit would yield profits. But keep banging that same old drum B1S2.
Thank you for your posting. ---Will do-- Banging the same drum is what trading is all about. Always being consistent in trade management. Most traders lose money. They lose due to money/risk/trade mismanagement, not from timing.
You know most traders? I would say no they don't, risk management is an additional factor to consider. So, I can give you completely random entries and you'll make money because this is what you seem to be saying. You can make great returns using no risk management, just by timing correctly, that's what I claim.
Certainly can make extremely healthy profits using random entries with prudent risk management. Risk management is the only true edge a trader has.
I want to swing trade SPY;(daily time frame) Can you outline a specific prudent risk management strategy for me that I can trade with a random entry?