an excel file u say..i would have thought that TE would have kept that to himself..maybe he is getting a bit soft in his old age i will ask him for it and see what he says
Whats the first thing you see when you look at a chart as a newbie... Somethings going up, buy! Somethings going down, Sell! Buy Low and Sell high is the name of the game. When everyone else is chasing a stock up, fade them! There is a difference between selling into a crowded move versus a STEADY TREND that is given time to establish itself! Is this a little bit of the obvious? one thing I have noticed is buying new highs and selling lows...just aint working in this market. At least intraday!
when u go to the races..what type of horse is the best to back! before u trade u must do ur homework..u must reduce the risk of losing before u bet any money..as much as u can next..u must further reduce the risk by not betting too much on any one trade..for..u will never know what way the trade will go..it is just not possible and next ..u must further reduce the risk by limiting your betting to certain times..for..u only want to place ur bet at the times when ur chance of winning is greater than ur chance of losing if u continue to reduce ur risk..and fine tune it..so that ur risk is very low for every trade u place..then u will see the power of correct position sizing do not be fooled by what u read..for..reading alone will not do anything for you..u must be willing and able to turn thoughts into actions..and actions into profits sometimes u would just like to leave out a big roar and say "what they fuk is wrong..can u not see how simple it really is..and how u have been told exactly what u must do..and yet..u just will not do it..u still look for answers that are just not there..so..wake the fuk up and get ur head out of ur arse..and do the fukin work that is required to make u some good money..and fuk all the idiots who know jack shit about everything" see..it really is easy to let go now and again..all u need do is type TO
Sideways is my biggest problem. Try to avoid it & price makes the move of the day all of a sudden leaving me behind. Try to be patient & pick the best spot to enter so as not to miss the best move of the day & I get stopped, then stopped again, then stopped again, and again, and again. Then I miss the move anyway because I'm financially & psycholgically destroyed by the time it finally happens. I hate sideways !!! How do you know when to get in & when to stay out when the chop comes along?
in today's markets..with all the fallout from the shit heads who came up with fancy ways of selling debt to the unsuspecting public..or to call a spade a spade..the ignorant..the risk of losing has never been as high..and as such..requires very careful consideration and planning before risking ur hard earned money these are the market conditions where the daytraders thrive..volatility is a daytraders dream..volatility is nothing more then large intraday moves..large intraday moves present large profit opportunities..but only if u understand that holding on to losers is a fukin idiots game..and idiots have no reason what so ever to daytrade u must learn to play the odds..and there are many ways..some better than others of course..but all have one underlying fundamental that allows a trader to put the odds in his/her favor..and that is..get the fuk out of of there if u are losing..and get the fuk ready to get out of there if u are winning trading is a mugs game really..but only if u are a mug TO
"There is plenty of ways to test trading strategies, but who is going to test you - the trader himself, the most important component of any trading strategy?"
so how do you know which horse is going to run fast? i have been looking at the sector maps that TE posted from his other thread and trying to figure if there is an indication on the following day to stocks in the sector pending how they finish. s/r would probably play a part.