Would you prefer the Photoshop, CorelPaint or just the plain 'ol Sim screen version. As if I need to prove anything to you or anyone on ET! LOL OP never said he got chopped up, just that almost every trade went immediately against him. One suggests losing due to volatility. The other suggests just being wrong in analysis. But we do agree he is a daytrader. And now we are back to original point, without knowing his trading style and /or strategy, determination of "overtrading" can not be made. At least you prefaced with IMO. Who cares? I do not aspire to be like nor do I compare myself to ANY other trader. Seems you missed that aspect of those you consider the successful traders. They trade what THEY SEE, based on strategies THEY TESTED, with a style that fits THEIR GOALS. Nope. A great trade is one in which you follow the rules that you set. period. win or lose. A loser trade can be just as much of a great trade as a winner trade. You see it, you execute it, you manage it. The result is the result. One result is not any greater or superior than any other result, when all the rules that you set are applied. Osorico
with all due respect? get real. retail traders never cease to amaze me. people here are trading OEX day, and 1) don't even REALIZE it's OEX day others 2) have no idea how OEX affects the instrument they are trading yet, they are trading ANYWAY. preparation, research, risk management, business plan. these are the hallmarks of a successful trader. just pressing buttons without an understanding of market character and THE FACT THAT IT'S OEX day is frigging typical amazing no offense, but i will never understand why people just throw money at the market with no prep
thanx for your comments guys...and i wasn't overtrading, i thought if you executed your trades exactly as you have planned - that's not considered overtrading. i had made 6 trades exactly as planned - they were all high probability set-ups - atleast from my vantage point. although, the last trade i hesitated to enter because i doubted myself, after that i stopped - i stopped right at the end of my losing streak it seems. . the problem was either a. my system is flawed b. the market was too erratic for my system to handle c. i didn't execute my trades properly. its a good thing i have a 3-day weekend to be calm and just look it over.
OEX is options expiration day, correct? would u mind sharing how it affects the market? please, i am not aware of that concept that much, and i would like to learn about it. and...i have been preparing for this trading - i take trading very seriously.
Great points whitster. This is where the '95% fail' bullshit comes from b/c you can literally open an account for $2500, get $500 (or lower) margins and trade that away rather quickly. Another 'failure' for the statistics. The difference being that there are traders like that out there that I would call gamblers at best and there are traders as you've illustrated here that actually treat trading as a real business. HUGE DIFFERENCE in the end.
Then there are those who, inexplicably, assign to options expiration, or OPEX, the symbol assigned to the S&P 100 -- OEX.