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There are several ways of making money in the mkt. , one needs to find what works for them . I started with stocks and lost . I then went to options and lost . I finally realized I had no idea what I was doing . I then realized trading was business not some game . You better have a plan and a good one . I have been doing this for almost 30 years now and I am still learning new methods and adapting to the changes over the years . I don't care what business you are in you better be ready for what's around the corner or you won't survive . The last I heard only 7 % of the people survive more then a year in this business . Price action certainly is a key factor for any trader .
I was looking at your profile and your weblink and was wondering if you can tell me a bit about tradestrong and if you are still running it. Please and thank you. I’ve not been able to stop reading your writing. Is it a company that builds traders?
I think even the big short positions we all think need publicity are kept private (Jim Chanos said he only publicises 20% of trades, I guess the ones they need help with).
There is no holly grail per se but there are certain tricks you learn with experience that come very close to it, unfortunately they too cannot eliminate losers.
There's no holy grail per se depends on your definition.
Why would you want to eliminate losers ? That's like being a Madoff.
The tricks that you learn with experience will then make YOU the holy grail.
There may not be a Holy Grail per se but maybe there are lots of holy grails.
Just follow any futures chart for 30 days after market.
Mark and document the pivots. Figure out if you could anticipate these pivots on live market.
Try it in SIM ....and repeat till you have success....then trade live.....and face the devils in the mind.....
the first part (documenting and SIM trading) takes longer but is relatively easy(of course you need strong basics in support/resistance ...supply demand .trend lines....patterns etc.)...but the second part is a killer....my 2 c. I am struck in second part....SIM some days looks easy....don't know what happens when trading live....
You can practise your skills all day long, but it's comparatively easy to get better at playing. The hard thing is to get better at winning--anonymous
I honestly don't get why these questions even exist. We all know there is no Holy Grail, and frankly, anyone who has met many aspiring traders will know that even if such a thing existed, most people wouldn't actually follow it correctly. We have oodles of accounts of people being given systems that they can't work because it doesn't fit their trading style, or they self-sabotage.
Trading is simple, but not easy. That's the aphorism I hear all the time. And it's true. My method is a piece of piss (not sure where people come from saying opportunities are lacking, or you need to outbrain Ph.Ds working for Bobby Axelrod) and the expectancy from it won't be going away without markets literally failing in how they operate. You don't compete with the big boys, you latch on to them like a remora. Of course, if you're going to try and scalp in a post-HFT world, you're going to have a bad time. Swing trading intraday? It's an ATM if you have any nous about you. Took me 2.5 years of trading financial markets, and several months trading sports markets, to figure the whole market movement thing out, but there you go. Cost of doing business.
I've also even given out exactly how I trade in one of the (now three) posts I've made on here. So, in answer to the question, yeah, I guess I would, and already have. And it changes nothing.