Sticky Introduce Yourself

PhilK007 said:
Hello all

I have had my toe dipped in the markets for about 18 months but over the past 3 months have been able to devote sensible time to it - you need to treat it like a business. Learning fast, concentrating on DAX30 and the CAC40, and gap trading US stocks, using a set and forget style.

Really interested in finding out worthwhile sources on gap strategies - any ideas would be really welcome.

Have a great weekend!
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Jeez that sounds scarey.
 
tomorton said:
No. The better money managers manage money better 80% because of their psychological abilities, 20% because of their technical skills / knowledge. Good trading can be learned but cannot be taught.
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About 4 or 5 weeks ago I was called by a broker from one of these day trading firms from his office in the city and he was trying to sign me up for an account. He even asked me to log into a trading platform since I was in front of laptop. I did and he asked me to put a trade in. Told me to pick an amount per share I wanted to trade and then select the time frame the trade was going to last, which in this case was going to be 1 minute. At the end of the minute the trade would close and it would be determined whether it was a winner or loser. I guessed right, and I say guessed because that's exactly what I did. I did a further two trades the same way, and they were again called correctly. I still told him I wasn't interested because they were complete guesses. When you stay in the trade for such a short time frame what you are essentially doing is guessing. No matter how sophisticated the charts, price movements cannot be predicted over a few seconds or few minutes. Over longer term, say, weeks and months, yes, I do believe you can predict price direction much better. but over seconds and minutes the volatility is too much to predict accurately. People end up mostly second guessing. This is why I am going to look for stocks or indices and trade them with the intention of holding them for days, weeks, or even months.
 
Clarity

New Member said:
About 4 or 5 weeks ago I was called by a broker from one of these day trading firms from his office in the city and he was trying to sign me up for an account. He even asked me to log into a trading platform since I was in front of laptop. I did and he asked me to put a trade in. Told me to pick an amount per share I wanted to trade and then select the time frame the trade was going to last, which in this case was going to be 1 minute. At the end of the minute the trade would close and it would be determined whether it was a winner or loser. I guessed right, and I say guessed because that's exactly what I did. I did a further two trades the same way, and they were again called correctly. I still told him I wasn't interested because they were complete guesses. When you stay in the trade for such a short time frame what you are essentially doing is guessing. No matter how sophisticated the charts, price movements cannot be predicted over a few seconds or few minutes. Over longer term, say, weeks and months, yes, I do believe you can predict price direction much better. but over seconds and minutes the volatility is too much to predict accurately. People end up mostly second guessing. This is why I am going to look for stocks or indices and trade them with the intention of holding them for days, weeks, or even months.
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After 26 years in the markets. It's quite clear that the more precise trading isn't done on long term trades. It's done on very short term trades and advances/moves in liquidity. If you know where those are, it eliminates the guessing game completely. I reach 90% consistently and I use no guesses whatsoever. It's a strict set of rules, treat your business trading with rules and your 'guessing' will be replaced with profitable decisions.

Unfortunately, 99% of traders learn from charts, but forget to dissect them properly. So they waste time… in years.. usually many of them.. looking at the wrong information.
 
Look here, http://m.youtube.com/watch?v=3y7aOZIc05w

The guy looks like he is almost making random long/short calls. In one of the comments on this video he says this, " Many times it has to do with instinct, something you develop over the years", at being questioned how he was making his decisions.
 
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Volumes

rourkem said:
That might work for him during that time. But I think instincts are not enough. Numbers should be one of the major factor on every decision that we make.
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He's trading trend, volume, public sentiment and breaks. A good mix. But.. he's trading equities.. and that component can be a thin market and get choppy, but he does a good job getting through it on small trades.
 
Hello!

A little info about myself. I've always been intrigued with trading the markets since high school days. I had an old Civics teacher that first introduced our class to the stock market in 1960. Did a little paper trading before I entered the Army in '67.

Started getting interest in trading again in the the early '80's (equity options) using technical analysis. Didn't have computers then for charting so I did it by hand. Lot of ups and downs and after a marriage break up left the markets for several years. Early 90's dabbled with commodities Using broker recommendations until I had used all the funds I had allowed for it. A couple years after 9/11, with the advances of computer programs for trading, I started delving into the commodity markets again. Due to a disruption caused by our house burning down and contractor problems, I took up Forex in my spare time and have have spent the last ten years studying various TA programs.
Of all the programs and concepts I have looked at, the only one I have found to have a high percentage of accuracy was one based trading naked with only support/resistance and volume.
That is what I use now with an accuracy rate of 75-85%

Well, this is me and always happy to hear other trader's ideas and opinions.

Good Trading......
 
New Member said:
I personally think day trading is pure luck, traders are gamblers while the firms that offer the odds (prices) are, essentially, bookies. What separates good traders from bad is not better trading but better money management. Ones that make money from it long term are essentially better money managers. They are able to manage their account better than those who lose everything. A kid can be taught to be an effective a trader as someone with a degree in economics from Cambridge.
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Dear,if u do few trades in a months,you will have much time in analysing the fact and figures,so the chances of being wrong are remote,while you are a daily trader,u have very much little time to analyse and to act,and the chances of being wrong is very high.
 
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New Member said:
About 4 or 5 weeks ago I was called by a broker from one of these day trading firms from his office in the city and he was trying to sign me up for an account. He even asked me to log into a trading platform since I was in front of laptop. I did and he asked me to put a trade in. Told me to pick an amount per share I wanted to trade and then select the time frame the trade was going to last, which in this case was going to be 1 minute. At the end of the minute the trade would close and it would be determined whether it was a winner or loser. I guessed right, and I say guessed because that's exactly what I did. I did a further two trades the same way, and they were again called correctly. I still told him I wasn't interested because they were complete guesses. When you stay in the trade for such a short time frame what you are essentially doing is guessing. No matter how sophisticated the charts, price movements cannot be predicted over a few seconds or few minutes. Over longer term, say, weeks and months, yes, I do believe you can predict price direction much better. but over seconds and minutes the volatility is too much to predict accurately. People end up mostly second guessing. This is why I am going to look for stocks or indices and trade them with the intention of holding them for days, weeks, or even months.
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really?
 

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evjones45 said:
A little info about myself. I've always been intrigued with trading the markets since high school days. I had an old Civics teacher that first introduced our class to the stock market in 1960. Did a little paper trading before I entered the Army in '67.

Started getting interest in trading again in the the early '80's (equity options) using technical analysis. Didn't have computers then for charting so I did it by hand. Lot of ups and downs and after a marriage break up left the markets for several years. Early 90's dabbled with commodities Using broker recommendations until I had used all the funds I had allowed for it. A couple years after 9/11, with the advances of computer programs for trading, I started delving into the commodity markets again. Due to a disruption caused by our house burning down and contractor problems, I took up Forex in my spare time and have have spent the last ten years studying various TA programs.
Of all the programs and concepts I have looked at, the only one I have found to have a high percentage of accuracy was one based trading naked with only support/resistance and volume.
That is what I use now with an accuracy rate of 75-85%

Well, this is me and always happy to hear other trader's ideas and opinions.

Good Trading......
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id love to know what volume sources you use
 
I am new here . I visit first time this forum .Hope it would be a nice experience to discuss here with others.
 
evjones45 said:
Since I trade the Forex market, I use Bill William's Market Facilitation Index and apply it near support/resistance levels(based on confirmed pivot reversals).
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M8 i have read all his material/ it sounds feasible ( squat etc), but for me the jury is still out as to whether the volume sources you use are a good enough proxy.
alos, you might want to check the history of williams and how his work was er, *******ized by others including his daughter i believe
 
Hi there,
I'm new to T2W as well as to the trading world.
I know it's going to be a long and tuff road but we're gonna make it! :)
 
Hi All,
I'm a new to T2W and trading.
I want to learn a lot from all of you guys who have made it, good or bad!
 
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