Trading is a fools game - you can't win

Discussion in 'Chit Chat' started by tenebre, Oct 1, 2009.

  1. Redneck

    Redneck

    :p Good One Sir
     
    #31     Oct 1, 2009
  2. hey everybody . im brand new to this site. what are some of your favorite stocks/etfs to trade thoughout the day? or do you just go with whats working?
     
    #32     Oct 1, 2009
  3. toc

    toc

    Back testing only confirms the system's value not your own as a trader.

    Papertrading can give false results if not done real time. By this I mean, you cannot look at the chart end of the day and note down the signal's entry and exit.
     
    #33     Oct 1, 2009
  4. Hey Ryan
    I try to follow 1 sector full time and the 2 sector i keep an eye on it
    Let say i follow Financials
    So i follow almost all the stocks from credit card companies to bank to their etf,s day and night
    and the 2 sector i follow is oil ( oil stocks and etf,s )
    Once you follow a sector you come to know the patterns the support etc .
    Trading is not a fools game ( it is a smart person,s game ) who is willing to put time money and energy and dont forget screen time is very important
    LEt say you have 4 screen
    1 stock financials
    2 oild stocks
    3 index
    4 currency
    When you trade dont expect it to go right in your favour that is why we say trade small till you have enought bank roll to take draw downs
     
    #34     Oct 1, 2009
  5. tenebre

    tenebre

    Is there any useful to do during weekends? Obviously there is no real time action to watch/observe? I'm not tied to the computer or anything, but research wise what would you recommend? Forex?
     
    #35     Oct 2, 2009
  6. tenebre

    tenebre

    When you say "trade small" what sort of lots are we talking about? And what price range should these stock be?
    If a stock is $50-$100 go with 100 shares? more/less? Or maybe 10 ITM calls? Should we be extremely strict with stops?

    Thanks!
     
    #36     Oct 2, 2009
  7. You are right, fools can't win in this game. :D
     
    #37     Oct 2, 2009
  8. well it all depends on your trading style and experience
    Let say right this week the es tried to brake 1061 and it cannot brake even after few tries.
    Since i follow the financials
    I have been observing XLF it canot brake 15.50 which is a very strong resistence
    So since it is a $15 stock i went 200 short in the 15.10 and when it was $14.84 i know it is going to $12.50 the next support
    If i were trading the fas i would have gone 25 shares and depends on the day and the price action
    same thing for faz ( financial bear _ it was always bouncing at $19.00 right noqw it is $24 i guess
    When i short i prefer to short 5 different company share ( 100 shares a pc )
    let say wfc jpm bac fas 25 shares so it all depend on you trading style
    and when a trade goes in my favour i always take %50 of my profit.
    It all depend on you bank roll
     
    #38     Oct 2, 2009
  9. i've been trading pennies for over 10 yrs now, its good coin if you know the ins and outs of the otc market, only draw back is your limited a lot to how much you can consistently pull in. In a very good mkt not too hard to do 10k a day right now its a fairly decent mkt and i've been doing 2-3k a day in a slow mkt its about 100-500 a day.
     
    #39     Oct 2, 2009
  10. get a screen recorder and study the price action
     
    #40     Oct 2, 2009