Best Thread Featured Quick reference for real trading profit. Tips that work

[options]

I would like to put together a one line reference board of traders
top tips.

No drawn out methodologies please. These are covered elswhere and can (in my case anyway) vanish from the brain the next day.

A short preface if need be, then the one line pearl of wisdom.

This way the one liners have more chance of staying inside the old grey matter.

Only tips that are in use today and are actually earning you a crust. For example... (Oh,and Naz? I know exactly what you are going to say...)


Being predominatly a short term daytrader with trades that in general last anywhere from 4/5 hours to as little as one minute means that the entry on some trades are crucial to profit. My tip?

Choose the direction; and buy or sell on a reverse bar. Less risk/more profit.

 

[mmillar]

"The trend is your friend"

Sorry. Boring but when I ignore it I inevitable lose.

 

[Mr. Charts]

......until the bend at the end.

 

[options]

No, that's fine. It's one that everyone has heard and can understand. Ignore it at your own risk.

How do you identify the trend you are after?

There are long, short, and medium trends. And various mini and major trends in one trading day alone.

What do people look for?

And please; for the person (and there will be one. (probably FB!))that writes 'buy low, sell high'

Define; buy low.

 

[FTSE Beater]

Trading is an odds game



LOL Options

 

[options]

Quote:

"I would like to put together a one line reference board of traders top tips."

Now I don't want to go off at a tangent here. But There is a excellent board elsewhere (started by Flea I think) on thoughts for the day. and while they are all excellent sayings and quotes
by people past and present that give food for thought. Not one of those sayings will make you money.

Now hold on and don't all shout at once. There is a stage BEFORE you can actually get to the 'buy low... trend your friend...control risk...zero/negative sum game...take out more than lose etc... AND then those sayings make you money.

But it is the stage before that I'm after. Like my first one of buying or selling on a reversal bar to open a trade. Or going short on the the second double top because everyone wants to get on that train.
No offence to anyone who has taken the time to post so far they all all excellent thoughts to carry with you before, during and after the trade.
But I want to know what makes you take the trade in the first place.

 

[Mr. Charts]

Be humble, even after 20 winning trades in a row

 

[JonnyT]

My tip, ignore tips.

JonnyT

 

[Naz]

"Only tips that are in use today and are actually earning you a crust. For example... (Oh,and Naz? I know exactly what you are going to say...)"

Hi Options,i've got to say it.

"Trade volatile Nasdaq stocks on the open with Nasdaq level 2 direct access."

 

[Naz]

The axe is your friend,he makes the trend.

 

[Mr. Charts]

"But I want to know what makes you take the trade in the first place."

Profit

Is that short enough? ;-)

Talking of short,

sell high, buy low ;-)

>Options. I'll post some thoughts about entries when I get time, but,
"Like my first one of buying or selling on a reversal bar to open a trade. Or going short on the the second double top because everyone wants to get on that train."
is too simple; not a good trading tactic but it takes more than one line to explain why.
This is a very serious profession and limiting answers to one line is like saying, "how do you send a rocket to the moon?" and expecting an answer like, "put fuel in a tube and set fire to it". Less than helpful.

So I guess, my one line answer ought to be:

Oversimplification leads to distortion.

Sorry this was meant to be a one line answer ;-))))))

 

[Naz]

Dont trade on hope.Trade with a plan.

 

[BlueChip Trader]

Those who never take a risk, will never make it big.

 

[CityTrader]

"It's better to travel than to arrive" -i.e buy on rumour, sell on fact

 

[LORD JAMLA]

Those that feel comfortable in crowded places often get their pockets picked

 

[LORD JAMLA]

More importantly though, one that should be used, not only for trading but for day to day life.

'A successful man is one that refuses to accept all around him that is deemed normal until he has sufficiently observed and researched to be able to come up with his own conclusions'

 

[Helenqu]

Ok a real one:

Have a checklist of conditions that must be fulfilled before you enter a trade, tick every one physically on your trading record sheet. If you can't stay out.

 

[jamus]

Pull the trigger, dont look back in anger.

 

[RogerM]

Lower the risk until you find your sleep level.

 

[ChartMan]

Nice one, Roger.
Mine is:-
It pays to wait.........