Let winners run and cut losers short. Is it possible to do worse cutting losers TOO quickly? I've also heard let a trade breath? Not sure what that means either. It's all so confusing...
Finally, an intelligent post. Trading is a COMPETITIVE game... Where you have roughly 2% winners and 98% losers... If you account for the millions that have lost and quit. Also, the Securities Industry actively promotes the falsehood... That any idiot can make money trading or "investing"... By heavy advertising, giving away useless charting software, etc. Frankly, ET promotes the same ridiculous falsehood. If you do not have a COMPETITIVE ADVANTAGE that puts you in Top 2%... You are totally screwed no matter how much you lie to yourself.
this is why people say 'i look at institutional levels'. of course, this is a complete joke. they have no idea, and so they make this stuff up to tell other people. gives them "credibility" but it is useless. remember, most wall street firms make up products that will never have any TA associated with it, and they make tons. HFT doesn't care about TA. so these things affect all markets (due to hedging) and a trader can't know exactly why size is coming in, and when. most lose because they think they can out think the people with almost unlimited pockets, time, and are simply smarter individuals. and doing this by books or the internet. so go buy a basketball and practice 10,000 hours and get the best coaching in the world...you will not make the NBA, that is for sure. look in the mirror and ask yourself, how long have you been doing this and are you rich enough to not have to sell anything or worry about money like a normal person? good lawyers and doctors make 500,000 a year, and so after all your time looking at charts i hope you are easily making 100k. easily. if not, it's not working. for whatever reason, it's not.
You need to be able to ride your profits as much as you can .People can not handle making a lot of money during a short period of time , but they can easily loose it all in one day .
I think that most of traders lose money because of lack of experience and practice. Nowadays, there are very good stock trading platforms where you can test and improve your trading skills and apply the knowledge you acquire to the real markets, and at the same time win money! What do you think? Do you some stock trading games?
Excellent answer. Educational/system vendors do promote falsehood. The real trading education is Higher Education Higher Education is the key to become a successful trader. upon graduating from a university, u will be able to work in a legit trading firm. After 5 years minimum working in a trading firm or 10 years minimum working in many legit trading firms, u should be a successful trader and have enough capital (minimum $500,000. Recommend $5 million) to open a retail account or u may choose to managed accounts and open a hedge fund firm. Those that chose not to get a higher education degrees will end up losing More than 90% of small traders lose. They just lose!
emg you seem to suffer from mental retardation. I hope you get better. You should not attempt trading. No matter what others post (including my thought out three sentence plus post before) you just keep typing. I guess you are a failed trader and blame it on quitting community college.
Any advice for stock trading platforms where you test your skills and understand how real markets work?
Wow...I didn't know that most small traders were from the ghettos. I thought folks from the ghettos spent their money on women, music, guns, drugs, and beer parties. I didn't realize they were opening trading accounts too. Geesh, maybe eSignal and Interactive Brokers need to put up some billboards in the ghettos to get more clients.