Knew the header would get you to look...:-D Here's why I did it.......... Are we making trading too complex and difficult? Can a simple trading methods produce decent consistent profits without all that complexity? Are we beating ourselves up with too many "indicators" and "signals" etc that we know don't mean BS??!! If so, what IS YOUR IDEA of the Most Profitable SIMPLE Trading Method??!!! Tell us what you think??? Protrader1
Who says any of us are making things difficult? Trading is easy, once you have overcome your learning curve psychological issues... whatever style you use, keep the classic trading axioms in mind: 1) Trade the trend 2) Run profits 3) Cut losses The hard part aint the trading, its the psychological aspects... that is 90% of the trading battle.
Thank's candle, also sorry for blasting you over on the other thread (you'll see it soon enuf;-) How about some details? How do you keep it simple and still do as great as you seem to suggest? Protrader1
candle, I am intrigued by one of your trading rules "trade with the trend" If I may draw upon your expertise with one more question: What was the trend today? How did YOU play today? PS This is gonna be a great thread!! Protrader1
Yes. Good luck on getting people to share. Only info you'll get is "Garage Sale" items they'd sell for 10 cents anyway. It's nice to get all the charts showing convergences, s/r, moving average crosses, but you never get a whole sysem thats lets you trade consistently, just pieces. The true "Golden Gooses" are tucked away in peoples minds safe and sound cranking away profits for their silent and successful owners. And if they did share, 99% would fail at it for emotional reasons. Why would you hassle with customers for an extra $50K a year when it could kill your goose and cost you millions? I'll predict you get zero profitable responses. Not because profitable strategies don't exist, it's just the way things are.
ProTrader.. i think Candle gave the best advice possible.. the simple way to trade is with the trend.. dont look for reversals in other words.. look for continuation patterns in the direction of the primary trend.. thats about as simple as ive seen.. then its just a matter of how you think and how you manage your money.. -qwik
quik, Good concept. A simple Q though: How do you determine the PRIMARY trend for the day? Today for instance...what would you say was the primary trend, when did it make its appearance and why? Protrader1
Your right most traders over complicate their system. I would love to share the who, what, where, when, why and how. But on this board, are u kidding, no thanks!!! call if u like 509-966-3503
Pro, Your question cannot be answered because you don't specify a timeframe. You did say "today", but today was part of a weekly trend, a daily trend, a 60 minute trend, and so forth. You must pick the timeframe you are trading, then I would say go one higher to see what the trend is. One look at the chart ought to tell you, otherwise there is no trend.
the nazdaq is in an uptrend until it makes a lower low on the daily chart.. today we made a counter trend move.. or you could say the secondary trend is down now that we broke the ndx uptrend line.. but while the market is in an uptrend on the daily, im much more comfortable finding long trades intraday.. if i do go short, im looking for a scalp only with a tight stop.. -qwik