%% One of the most common ways to become a millionaire in markets; invest, invest Tax Free Roth, Back Door Roth , 401k...... And keep doing it. And as they say in Chicago; ''the smarter you are, the longer it takes'' LOL WE should repeat this maybe 7 times or more.LOL............................................................................
does not mean chasing. see if there is trend,and get in for one more leg. it is a judgemental thing and a matter of skill. it is not easy since most traders lose money. but that is probably because of lack of commitment or of being undercapitalized and expecting very high returns because statistics show that 95% of first time businesses, even on Main street, fail in the first year. it is also true that most people get into trading to make a lot of money. most professionals are happy if they beat the bank rate. only those who get into trading because they like the way of life-not the promise of riches-will succeed. trading is not difficult if you get the correct philosophy....buy low sell high.....but you should know the correct market conditions when to do this. if you do not understand this simple basic fact you will find trading a living Hell this is a conceptual thing and no book or course can teach this.
do not get me wrong...….. not many people know how to trade......including me. but I figure difficult or easy it should be possible......
it can be confusing. experts say plan your trade. but they also say how far the market will go no one can say....so how do you plan for it? so I figure, the only thing to do, is to figure it out for yourself.
why bother to backtest it. everything will work under certain conditions you have to learn to manage it......you cannot predict the conditions...….
another 'easy' way is to see the swings......if one swing is longer than the previous then prepare to go in the direction of the longer swing. so if a down swing is longer than the previous upswing wait for the up retracement and sell short.