rathcoole_exile
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Lurker, I'm confused.
How many times are you going to announce your retirement from day-trading, only to pop up half an hour later with a trade ?
Don't get me wrong, like all the other lads on this thread I wish you the best, but I think you need to STOP and take a long hard look at yourself. Having followed your posts here since I joined the board, I can say with some confidence that I believe your main problem is psychological, ie lack of self-discipline.
Please for your own sake, get a grip, take some time out and re-assess your trading methodology. You seem to have far better understanding, both Technical and Fundamental than I will ever have. Just learn to harness that to some fixed trading rules, and stop breaking them !!!
Given time I think you can crack this game, just don't shoot yourself in the foot too early by blowing things up 'cos of lack of discipline.
Anyone else like to comment ? Am I wrong ?
garry
rathcoole_exile
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too many mixed metaphors ?
lurkerlurker
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Absolutely, which is why I only took it on paper and decided to stop nattering about it. No position trades for me until I have a strategy!
Cheers
lurkerlurker
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FWIW, I don't see a short until 60 or above. Look at the hourlies. Best of luck to you.
lurkerlurker
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Close enough? It will be interesting to see where this goes.
brutusdog
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clearly wrtitten with good intentions, a good system is nothing without the disapline to trade it but an average system and sticking to the rules will return more...
just gone short 13560 (cash)
Dinos
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Lurker
I can understand where Garry is coming from, I will back his wishes that we would like you succeed, I have been on these charts for a while now, I can probably say, you have changed your system more or less every week.
The problem with theses type of boards is imho, is it is to easy to try and take on board all the advice and try develop a trading system that is over complicated, to many indicators, ie, looking for the holy grail system, it is not there.
Trading can be extremely simple and uncomplicated, I know Mike (Atilla)has put his system forward, ussing MA's, and you can see how successful it is, mine is not dissimliar, but I use stochastics as well.
A trader, I know, now trades on one signal alone, I know I couldn't do that, but he developed his trading systems and refined it, not adding, but understanding the mechanics and he does most of it by eye alone, and he is extremely successful.
I would back what Garry is saying for your good, sanity and wealth protection, take time away and plan a simple and robust system, you might not get it right straight away, but a tweak here and there, rather than a major overhaul, will be the way forward.
I say all of this with the best possible intentions Tom, I sincerely wish you success
I look forward to any feedback/questions from my PM.
Kindest regards
I can understand where Garry is coming from, I will back his wishes that we would like you succeed, I have been on these charts for a while now, I can probably say, you have changed your system more or less every week.
The problem with theses type of boards is imho, is it is to easy to try and take on board all the advice and try develop a trading system that is over complicated, to many indicators, ie, looking for the holy grail system, it is not there.
Trading can be extremely simple and uncomplicated, I know Mike (Atilla)has put his system forward, ussing MA's, and you can see how successful it is, mine is not dissimliar, but I use stochastics as well.
A trader, I know, now trades on one signal alone, I know I couldn't do that, but he developed his trading systems and refined it, not adding, but understanding the mechanics and he does most of it by eye alone, and he is extremely successful.
I would back what Garry is saying for your good, sanity and wealth protection, take time away and plan a simple and robust system, you might not get it right straight away, but a tweak here and there, rather than a major overhaul, will be the way forward.
I say all of this with the best possible intentions Tom, I sincerely wish you success
I look forward to any feedback/questions from my PM.
Kindest regards
rathcoole_exile
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let Compounding take the strain
Lurker,
look at it this way. From what I can gather you're still fairly young ? You've probably got a couple of decades headstart on most of the rest of us, which is commendable in itself.
Imagine you were to start position trading with $2,000 (GBP1,000) and aimed at 3% per month. That's a paltry $60 you are aiming for, rising to $80 by month 12 in your first year. Easy Peasy !
Annualised that gives you a ROI p.a. that most professional can only dream of.
However if you can resolutely maintain that 3% target per month and achieve it with methodological position trading, your account, compounding the returns, would be worth $2.4 million 20 years time, and $8.3 Billion in 30 years. (giving off a monthly stipend of $2.4 million)
If you can' retire on that then I don't know what to say.
And that's through a no-frills plan to earn $60 in your first month. Think about it !
All I'm trying to say is, don't rush it, you've got time on your side if you act objectively.
Lurker,
look at it this way. From what I can gather you're still fairly young ? You've probably got a couple of decades headstart on most of the rest of us, which is commendable in itself.
Imagine you were to start position trading with $2,000 (GBP1,000) and aimed at 3% per month. That's a paltry $60 you are aiming for, rising to $80 by month 12 in your first year. Easy Peasy !
Annualised that gives you a ROI p.a. that most professional can only dream of.
However if you can resolutely maintain that 3% target per month and achieve it with methodological position trading, your account, compounding the returns, would be worth $2.4 million 20 years time, and $8.3 Billion in 30 years. (giving off a monthly stipend of $2.4 million)
If you can' retire on that then I don't know what to say.
And that's through a no-frills plan to earn $60 in your first month. Think about it !
All I'm trying to say is, don't rush it, you've got time on your side if you act objectively.
brutusdog
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rathcoole_exile
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Fibs from the recent 60-min high at 13758 and recent low of 13537 (F) point to a retracement at 13647 (spooky) followed by continuation South to 13256.
Unless you look at the 3-min which shows bullish target of 13800
Fibonacci is always correct...... In hindsight 'cos you never know if you're on an upswing or down
followed by continuation South to 13256.Unless you look at the 3-min which shows bullish target of 13800
Fibonacci is always correct...... In hindsight 'cos you never know if you're on an upswing or down
rathcoole_exile
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yep, 15 falling into line, but 30 looks like it's covering a different bl**dy ticker, seems to have no correlation with 15 and down, bit worrying
rathcoole_exile
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YM puppies
btw, I know Krugs and Options are not on here tonight, but surely those are lovely puppies on the 3 min ?
btw, I know Krugs and Options are not on here tonight, but surely those are lovely puppies on the 3 min ?
brutusdog
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rath,
as i am also a keen follower of the pup's and of course love to play with them from time to time (actually as often as i'm allowed) they were part of my basis of entry m8..
