You are 100% correct, but you must drop all that psychological bull! If you trade you gamble. If you gamble, and you want to win, you must play smart and dismiss all the idiotic rubbish that is put forward by so called "experts". There are NO experts in the trading game - full stop!
I am rapidly losing interest in this site, so I am not going to post for a while unless some serious questions are asked to raise the bar a bit! This thread is not for beginners, who must go thru the discovery process, even though they don't realize it until it is too late! I will leave you with the following for consideration. 1) Daytraders have little or no effect on stock market liquidity. 2) MM's hedge their bets. 3) Big Money will not stay in the same place for too long a time. 4) When you think you should be buying you really should be selling. 5) When you think you should be selling you really should be buying.
NYSESTOCKS, I know it will not affect my edge one bit - for several reassons 1.) Too hard for most to do 2.) Too many will discount it thinking it too simplistic 3.) Too many do not believe (trust) themselves to act on what they are seeing Truth be known I am my own edge - IMHO of course (and no one can affect it because I will not allow it) Sir... The obvious is just the way I trade - every flippin day - day in and day out Darkhand â Thank You Very Kindly Sir Take Care
BLASH 1. Exit price point >= entry price point. 2. Odd for price to go up from entry point > odd for price to go down from entry point.
You want to compete against market maker in your retail account? But you pay about 1 cent commission on each trade, while market maker pays nothing. These days, 1 cent equals 0.2% to 1% for most "blue chip" stocks. It's tough to earn 0.2% on each trade in a market making strategy Therefore you will necessary lose.
2. Odd for price to go up from entry point > odd for price to go down from entry point. In a downward price movement, I look for the progression through the following stages a.) reducing of selling pressure, then b.) somewhat neutral between selling and buying, then c.) attempt to move higher. While price in b.) and c.), I try to locate three price points X, Y and Z that satisfy the following (with X > Y > Z) If price gets to Z, it negates b.) and c.) therefore not worth it to hold on if I already entered. If price gets to Y, it confirms b.) and c.) then it is the potential entry point. And for X, is this "prized" price attainable and how fast it can get there? From X, Y and Z, I can determine my position and my risk. If I feel good with the supposed outcome (gain or loss), then I take the trade when price hits Y
4) and 5) remind me of the saying "don't try this at home, these acts are performed by professionals" after you see a stun show on TV. For 2), who provides MM hedge ?
MoneyMagnetDude / MandelbroSet With all due respect Gentlemen â The way you both are thinking - is exactly how the herd thinks - and trades Food for thought Redneck