What profitable trading is all about?

Discussion in 'Trading' started by OPC, Jan 11, 2003.

  1. OPC

    OPC

    Dear brethren:

    Do you think that 100% discretionary trading can lead the trader to profitability in the long run or is that probably a myth?

    I mean, there seems to be a tenous line between gambling and trading. Usually speculation is associated about knowing in advance the market direction and making huge profits out of that view. For me, that sounds like gambling as opposed to professional trading as conceived by the trading community, that usually associates successful trading with probabilities play and management. In a nutshell, most professional traders who are making a living, or making money out of trading doesn't seem to fit into the stereotype of the aggressive speculator. And it would appear that those who try end up being broke in the long run.

    So, what profitable trading is all about? It would appear that price forecasting is just a minor part of the equation.

    OPC
     
  2. profitable concept

    disciplined execution

    psychology

    money management
     
  3. GD2KNO

    GD2KNO

    TRADING IS ABOUT FINDING A WAY TO CONSISTENT PROFITS. THEN FOLLOWING IT RELIGOUSLY. TRADING WITHOUT OPINIONS ABOUT WHAT THE MARKET "SHOULD DO". I MAKE IT MY BUSINESS TO AVOID ALL FINANCIAL NEWS SHOWS AND LITERATURE.

    WHEN THE SYSTEM IS LOSING, I FOLLOW IT ANYWAY; IT ALWAYS SEEMS TO COME OUT ON TOP.

    I USED TO WONDER IF IT WERE POSSIBLE, BUT OVER THE PAST 5 MONTHS IT SEEMS THE ANSWER IS "YES". MAYBE IT'S BEEN A "LUCKY" 5 MONTHS, BUT ONLY TIME WILL TELL. CHECK BACK WITH ME WHENEVER, AND I WILL UDATE YOU.

    I'VE SEEN MY ACCOUNT GROW STEADILY AND NOW DRAW A WEEKLY INCOME THAT SURPASSES THE MONEY MY HUSBAND AND I USED TO TAKE HOME WORKING FULL TIME.

    SO MY OBSERVATION IS THAT SHORT TERM DAYTRADING CAN BE VERY PROFITABLE, AND IT IS NO MYTH.