I've been trading full time since 1998. In the beginning obviously I was losing more than winning, until I read an article by Art Cashin. In it he wrote that when he wants to buy a stock, he hits the offer, and when he wants to sell it he hits the bid. That simple advice changed my trading forever. While I will often sit on the bid or offer these days, it's still the basic hitting the offer to get in or the bid to get out or shorting that gives me the most profit.
I tried that when I first started trading and I ended up very confused. When developing a system.. For me, it helps to understand why I want to buy or sell. Then, I have something to change if something isn't working right. That's just what works for me.. People have different approaches.
I would guess that Jack is full of it when it comes to his trading claims. But you gotta admit, the dude makes on hell of a chocolate bar!
All the good trading articles can be found here: www.stocktrading.com/articles.html And, yes, I'm am fully 'tongue in cheek' at this point, but you might enjoy some of them. Don
Too general to be true. And things change faster and faster now so many winning traders have become losing traders. I know 6 people who were strong winners daytrading 15 years ago. All lost their edge and quit. Time, experience and passion are not always enough. Trying to hook up on a personal with winning traders is often best, but impossible for most.
What have you been learning from these older threads that you bump up? I’ve been appreciative in that your net sometimes pulls in over-looked threads to members I follow. Keep up the good work!
Btw, there’s some great distinctions in this thread - especially the nuances jack discussed that can thwart attempts of successful reproduction of his method. Some seem to be common pitfalls that are within the transition of trading successfully with any chosen methodology and others that are specifically inherent in his.
%% I could not get that link to work but ,curious, so i clicked his Bright Co... 2017 notes say ''as markets climb higher.....''