Secrets to success in trading

Discussion in 'Trading' started by jharmon, May 17, 2018.

  1. SunTrader

    SunTrader

    traderGod is right ... "there is nothing new under the Sun".

    Price action i.e volatility, volume and ranges ebb and flow in fractal patterns continuously.

    Always have, always will.
     
    #61     May 19, 2018
    justsomedude likes this.
  2. SunTrader

    SunTrader

    You are confusing trading plan with trading strategy.
     
    #62     May 19, 2018
  3. Cswim63

    Cswim63

    It's all about making good decisions. Buy something which is going up, sell something which is going down, get off when it stops. If you can't do that, then you have issues, and I can't help you with that. For that you need professional help. Or a twelve step type program. Except you'll probably not be honest there either. Haha.
     
    #63     May 19, 2018
    CSEtrader likes this.
  4. if there are no edges then there are no secrets

    there are no edges.
     
    #64     May 19, 2018
    CSEtrader likes this.
  5. Cswim63

    Cswim63

    If the masters of the Universe declared that there would be no more money available tomorrow, everyone would line up to get their money. That's all I really need to know to make money.
     
    #65     May 19, 2018
  6. Cswim63

    Cswim63

    Oh, you said trading. Sorry.
     
    #66     May 19, 2018
  7. iccenuol

    iccenuol


    more than this...
     
    #67     May 19, 2018
  8. One possible edge is the passage of time. Direction can be (or is) very difficult to predict, while we know a day will go by every 24 hours. Option credit spreads make money given the passage of time. Markets can do 5 things: go up a low, go up a little, stay flat, go down a little, go down a lot. Credit spreads (generally) make money in 4 of the 5 conditions. I do not mean to imply that credit spreads are easy, they are not. When the market goes down hard, one loss can wipe out many winners. There are lots of option books with chapters on credit spreads. A trader needs to find the rules that work for them and their trading style and risk tolerance. I'll offer 3 suggestions from my experience. Options on indexes offer advantages both on taxable gain rates and tax reporting. Trading more often (i.e. weekly vs. monthly) helps to smooth P&L and the equity curve. When losses occur, it may be better to accept a limited loss and move onto the next trade vs. performing "adjustments" which can sometimes backfire and make a loss worse. This method nicely with weekly trading where each trade is less important by itself because you get 52 in a year vs. 12 with monthly trades. Be sure to thoroughly backtest any strategy through a variety of bull and bear markets before going live. When first going live, start very small (maybe 1 contract).
     
    Last edited: May 19, 2018
    #68     May 19, 2018
  9. Handle123

    Handle123

    Or perhaps my trading plans are different than the norm.
     
    #69     May 19, 2018
    beginner66 likes this.
  10. volpri

    volpri

    Naw..no way..dude..we are the Elite Traders here while you guys worry about royal weddings and such...ROFLMAO
     
    #70     May 19, 2018