Why Is The Obvious Not So Obvious?

You may have to dig it out of the rubbish bin a few years from now if you want to transform yourself from a "profitable trader" to a "great trader".

 

Eats like a bird, eats like a bird. “Trade for living” ET member.

Good points though, and your intention is well understood. Maybe we can reserve POP later for the true “gambler.

 

Everyone is searching for an approach that suits them.

It's always better to examine your alternatives and keep your mind, your eyes, and your interest wide open.

Some things may look as if they come out of left field, but sometimes you have to be thrown off balance in order to regain your balance.

And when you are in harmony again, you may find you are in a different place - or maybe not.

 

Look through the 3D glasses made of "SPY" may help to see the image. They don't call it "SPY" for nothing.

 

I was glued to each and every post by NYSE so far.

Thanks

 

Did you actually mean "eats like a bird, defecates like a bird"? (That kinda sounds me of scalping pennies, nickels, dimes and maybe some quarters).

And...what does POP mean?

 

TapeFighter: when you are fighting the tape, all you can do is to eat like a bird. You will be fine as long as you defecate like a bird. Just make sure you don't average down and dump like an elephant. There is another way to trade is to try to drink like a whale once in a while, hence trade/money/psychology management of "one of the the greatest traders":

POP: Phantom of the Pits

http://www.elitetrader.com/vb/showthread.php?s=&threadid=159075&highlight=phantom+of+the+pits

PDF File:

http://www.trading-naked.com/library/Phantom_of_the _Pits.pdf

 

I think it is time, for more riddle and rhyme

The test is now pail, and some did they fail

Those who held back, will stay on the track

For the ones who did toll, revealed no control

So continue we will, as I see we have few

With interest you see, in me not in you

The sprat and the love, think they are above

But little they know, that all see the show

The box not be here, it will stay over there

So post as you write, and please write no shite

 

The POP it is old, and much of it bold

If but read it you see, far it from reality

I have been there, where others not trod

So listen if be, if not take the nod

The reason is clear, to those with no fear

And the chalice you see, is found in reality

So read what you like, but get on your bike

And remember the poll, where gamble did toll

 

When trading, you may be "placing bets" in the immediate direction of the stock price, but without an edge (eg: 50% odds @ 1:1 Risk/Reward) you'll end up losing money due to commissions.
One needs an indication that the odds are stacked in your favor (or against you) before you risk a dime. What is it? Do you look for imbalances in the buy/sell sides on the order book to see where may be temporary support or resistance levels?