Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I put something else because I am really good at going short at the bottom or long at the top.
in all reality I think I do well with patience. Sometimes too well which causes me to miss opportunities. I find myself telling myself "no big deal, there will be other trades soon". Then I miss another one and tell myself the same thing and before long the day is done and no trades have been executed. Today is a great example.
I day trade and I'm good at pre-market analysis and setting levels where I expect a reaction of H1 and generally getting the overall context for the session. However I'm not consistent at the live market read and working out where/when to enter trades.
I am really good at seeing what will happen later... very easy for me..
However, not having a lot of capital, mostly my friends make out!!
I told them Microsoft... why? Win10 just came out, and the writing was on the wall if they could wait
I told them Nvidia.. why? because i just built a new monster box for myself, and my TitanX card for AI was sweet
I told them New Relic - Why? i worked with it, then ended up meeting the founder..
been doing this for years...
now i have enough to start taking advantage of what i see not just tell others...
i saw ACHN was a great play, despite J&J dropping them for their superior Hep C cure
why? small molecules are how the body naturally mediates things and are better than monoclonal antibodies
So their other stuff was good... that deal is closing and is netting me a pile
the calls alone will make many times my investment... if the CVRs come through... its 6 figs
I made a great amount on micron... though i missed this run as all the cash was tied up when it started
it was a no brainer for me... if i stayed in and didn't sell the shares i had, it would be about 150% now.
sitting on a thing that can go either way, especially after a bone crushing reverse split..
however, the advantage to that is they juts got approved to expand study into children patients
and the FDA has given the go ahead towards filing a BLA as their chemistry is superior...
i am currently not in it for the drugs they are trying to make, but for the process of manufacturing
eventually, their light will come on and they will make chemistry at a much lower price as a service
[though i wish they see this before they were stretched too thin and did the reverse]
currently i will offer this to those who want to bet on the future
the price curve of lithium is going to crush batteries long term...
while the price curve of nat gas, and other facts about petroleum chemistry make alternative sweeter each year
to someone like me its a no brainer... however... is someone patient enough to wait for it regardless of what goes on between now and then? i am... so, it looks bad short term, looks great later... which is why my friends are always asking me what am i looking into.. and why i am letting a dog run so far waiting...
those two charts above should tell anyone what the future of battery tech is for much of the futures infrastructure
its just not sustainable... at best its a stop gap for other things... of which there are other things verging
here is natural gas..
its what you do with it that matters, and i am much into tech, chemistry, physics, etc.
since i went to bronx science... never stopped studying..
however... been an idiot most of my life and never took advantage of this till now
hows that for smart but stupid? if i did, i would not be worried about my future and my wifes.
Well the idea of the poll is for you to recognize a personal strength, and recognizing what your strength is doesn't necessarily imply that you accept proficiency in any area. I used to be terrible at executing trades, but because I put so much energy into it and used tight stop losses, I became comparatively better at it than say, holding trades. To your point, because I didn't consciously try to improve holding trades on a consistent basis and didn't bother to learn how to manage them, trade management became a relative weakness (I picked execution as what I'm best at, but I know I still have plenty of room to grow).
Your comment on improving 1% everyday is very important. I have a tendency to want to improve 100% everyday, and of course, this leads to nothing but trouble. I find that when I cut myself some slack, the psychological pressure to improve disappears, and the things I want to happen, happen magically. It's a matter of lowering expectations, which is in-line with the 1% rule. Instead of whining that I could've made 4R on a given trade, I could plan and lower my expectations, and consistently go for 2.25R at minimum with every trade. It's easy to get 2R, how difficult could it be to hold out for 2.5 more points everyday? That's the spirit.. And it's more of a smooth process.
I also voted other because understanding the trade is vital to me. I remember once there was a user in some other site with a nick name 'right side of the market'. That's it! It highlights the crux of the issue. One has to be always careful because if someone did all the research and everything right but not careful and market turns again him (wrong side of the market) then all useless. One has to be always vigilant and understand the trade. Good luck.
I trade futures and my favorite futures product is ES. I trade based on technical patterns I have established and tested. These patterns work most (80%) of the time.
Trading the open. I monitor about 100 large, volatile stocks that I know well, the likes of AAPL and QCOM, pre-market, every day. At about 9:20 I select ~10, the ones whose gaps seem most promising, and open their charts on a monitor. I then watch how their first two or three 2-min bars develop, and enter accordingly. I'm often done by 10am, either by meeting my profit for the day or by hitting my stop loss for the day. It works for me.