I don't trade all of Iraj's methods but I do use several (for which my thanks as always) plus some of my own.
Whether other people are using them now I don't know, althoug I do know two people who have used them in the past.
If they don't, then perhaps the problem is that he makes it all look so easy and people get disappointed if they can't emulate his performance.
These things take time to get used to and discipline to implement, so impo the best way initially is to trade on a live simulator until all the decision making becomes habitual. Like riding a bike, you'll keep falling off at the beginning but eventually you'll get it and it will just be automatic without thinking.
He can't teach you everything and he can't help you overcome your biggest obstacle - yourself. Only you can do that - and some say that trading is 80% psychology and 20% method.
And only you can know how you prefer to trade in terms of timescale etc.
And only you know how much time and effort you are willing to put in.
To re-iterate his recent idea, why not emulate some trades using the exercise he suggested in post 4 on this thread ?
You have to start somewhere and build on that experience rather than jumping from one thing to another.
"i keep moving from system to system".
If you have tried strats out, did you keep a full log of every trade and what happened, and then analysed the overall outcome to see whether you followed the rules ?
Are you saying that you did this for a good period and followed the rules and made no profit ?
Glenn
Glen has an excellent point,, he says "
80% psychology and 20% method ". I have sat next to a trader watching him closing a perfectly good trade with loss simply because he could not take the pressure and when I said to him why did you not simply reduce your position so you would feel happier and he said WELL, I am never lucky in this game . He also said he was not made for this game which I understood but disagreed.
I have asked an independent trader to TEST DRIVE A SIMPLE strategy for 2 weeks to prove a point and that is,, Stop looking for holy grail ,, I have already given you one other wise i would not post it here but remember if i tossed up and got 5 heads in a row this does not mean the odds of getting TAIL is ZERO ,,,,
Trading is game of chance and common sense,, in any game of chance you MUST understand risk and how to control it, VWAP strategy carries risk just like any other strategy but I have eliminated the market risk from the scenario so NEW TRADERS can start trading with a simple concept for first 12 month ,, After that you become more experienced you can stop pair trading and take directional trading which carries more risk but reward is higher . ( I know this guy who tried VWAP strategy with 1 loss and he left it because in his first attempt he failed to make few $$)
I have had over 30 traders including my mate Glenn in my house trading LIVE in front of them and when one of the traders asked me what happens if you lose to day i said I WONT LOSE NO MATTER WHAT ,, not because I am arrogant simply because I have worked hard to get to here,, Really hard and I don’t mean just 8 hours a day,, Working 8 hours a day only gets you as far as a plumber or electrician , You must not give up but you should listen to those traders who make $$$$ from the market and avoid sales men or other people who are on this BB who enjoy chatting about TECHNICAL ANALYSIS which is nothing more than POLITICAL ANALYSIS .. Most of these guys are MORE POLITICAL than TECHNICAL ,,,,
Any way ,,, if you want to make money you need to do the following ,,
1) Trade daily more than 1 stock at a time but with a total pos size which suits your personality and your capital ,, Big hurdle here to learn the concept of diversification and risk management but you must learn it ,, Wall street recruits his fund managers based on which applicant has better understanding of the risk concept ? you think I am wrong ?
2) Don’t expect a lot of return on your capital for the first year, Fight back and get your own money back if you lost a trade.. In your second year you can have a go at the market and make money ,,
3) stop following people who you know nothing about their performance even if they can TALK the TALK,,, you not going to make money following a monkey who is a market VICTIM himself,,,
4) watch the price action with no VOLUME ,, I don’t hate volume but I also know how volume gets fragmented and distributed by third party algorithms in modern trading to give a false impression of the true nature of the MOVE.. I really prefer not to get involved in this argument .
5) Watch CNBC try to isolate what moves the market and the strength of the move.. the sooner you get involved with CNBC the sooner you become a pro ,,,
6) divide your capital in 2 parts,, use 80 % for swing trading 20 % for intra day ,,,
SHORT the WEAK STOCKS LONG STRONG STOCKS for SWING ,,, do what ever you want to do with your 20% on intra day trading ,, your wealth eventually comes from your swing and not intra day trading ,,( in a few years then you can start intra day trading when you are more experienced ).. If you really really want to become a intra day trader then ignore above ,,
Grey1
