Thinking out loud.

Discussion in 'Strategy Development' started by Bogwaluth, Jun 4, 2006.

  1. So I recently started in the world of prop trading. While it's interesting, my personality does not fit a scalpers mentality. If I had a better way to scan stocks maybe, but just "fast fingering" through a basket of stocks bores me silly.

    I decided to try my own day trading strategy I have developed. Well, I stole most of it, but made it my own. I have entry set ups and stop rules and that's my plan.

    I realize that if I was smart enough to call tops/bottoms I'd eventually own the world. I finally came to a few conclusions that work for ME.

    1. It's all about your trade management. Set ups are sold every where, but the one thing that makes a trader profitable is when they get out. That sadly is based on your personality. Find something that suits you and go with it.

    2. Sticking to my rules is imperative.

    3. Must trade like a Zen Sniper. Wait for a set-up, enter, manage the trade.

    This business seems to be about trading yourself more than trading the markets.

    We'll see how it goes this month. I figure if I can stick with my rules and manage everything the way I set up, I should be profitable.

    A million ways to enter, a million reasons to exit, one personality fit.

    It seems that the most important thing in this whole game comes down to math, probabilities and statistics.

    I like those things. :)