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

[Money_magnet1]

When you've made a lot of money from a trade / investment and start to look ahead to how much more you could make..... it's time to get out.

 

[HiProb]

Distrust people who offer trading courses because: "Those who can trade, trade, those who can't, teach."

So true! Let me add a couple: "Those who can trade, only teach what doesn't work anymore!"

and, "Know when to get out before you get in"

 

[spreadboy]

Never sell a quiet market!

 

[techtrader]

When you get a thing the way you want it, leave it alone.
Winston Churchill

 

[zarif]

Stop Loss.
Take a Small Loss straight away -other wise you will Definitely Take a BIGGER LOSS.

 

[mokwit]

The trades that look safe and predictable are the ones where the point where you take your profit (if you have one) turns out to be equal to your stop. i.e. 1:1. The ones that give you 8:1 or 4:1 are the ones that are hardest to do, but you know in your gut that the trade is there. Having the self belief to execute is the challenge. It comes with time and is a great feeling when you are in ahead of everyone else and they are moving it along for you.............

 

[AlexAndrews]

My tip: don't worry if you miss an opportunity; just like buses, another will always come along.

 

[2dolphins]

Have the balls to take your proffit as well as your loss.

 

[mokwit]

"Fortune favours the bold", True, but you must also be right (or use tight stops).

 

[TraderPattern]

Pre-empt the herd and they will win the game for you.

 

[Nildes]

When Spread Betting, never lose more than you can afford to risk.

N.

 

[Euro_d]

I think this site is full of people hopeing to find "tips" that work. IMHO there are many outfits selling the dream and a few that offer a legitimate service finding a set of conditions that should be fulfilled before a trade is entered.
My advice is to manage your hard earned FIRST, trade with 5% of your bank per trade max 25% in all open positions.
OK, you will say what do I open? try 20/40 MA cross overs, simple and reasonably sucessful. Alternatively buy a software package that finds a set of criteria, I like Omnitrader or you can use sharescope. In either case set your profiles and stick to them for several months using the above money management.
Be careful in blindly following tips.
Sorry to be boring!!!!
Dave

 

[axthree]

As a small player I would say not at all boring.
At least ,no more boring than sitting in front of the screen looking for a setup

 

[jonathon]

think what you want to do then wait five mins.

 

[TheBramble]

think what you want to do then wait five mins.

Sorry Jonathon, that simply wont work for at least 2 reasons.

1. If you're trading a fast market, waiting any period of time (even 5 seconds) isn't waiting - it's letting opportunities pass you.

But more importantly:-

2. If you're thinking what you want to do then you don't have a system or a method.

 

[FetteredChinos]

think what you will do in five mins time, and then do it now.

pre-emptive strike.

shock and awe tactics of the trading world...

 

[fluorspar]

I believe the determining factor for success in trading has less to do with TA approaches than the character and psychology
of traders applying them. A trader cannot beat, subdue, outwit or outrun the market, because a trader IS the market.
Winning and Losing in the market is nothing more or less than winning or losing in any other aspect of life.

My one liner is:

"Know Where The Answers Lie" :!:

 

[Maxim]

Diversification is in mho the only thing that works.. You need 2 - 3 strategies in different market. For instance. Covered short strangles (John Schiller method) day trading strategy and a stock strategy.
For a remarkable stock strategy (I really don't know if this is allowed but I'm mentioning were my information is coming from so.......) I refer to www.wealth-lab.com. The results of the strategy neo master look really good.

The whole idea behind this opinion is that markets change and that some strategies stop being profitable.

 

[timsk]

T2W Assorted Trading Gems

Anyone who's been around these boards for a while will read something one day and think "yeah, that makes sense to me" and then . . . forget it! A few days or weeks later you try and find the original post and, of course, T2W being as big as it is - fail miserably. The task really is like looking for a needle in a haystack. The solution? Every time you read a post (or part of a post even) that really hits home and is worth remembering, copy and paste it into a Word document. Mine is entitled 'T2W Assorted Trading Gems' and I assign each quote a title which sums up the essence of the post and I record who wrote it. Nothing else. One day, I'll have a really useful collection of pearls of wisdom accumulated for free on every aspect of trading, culled from the knowledge and experience of fellow T2W members. I heartily commend this simple idea to everyone. So, start you very own T2W Assorted Trading Gems' document today; you know it makes sense!
Tim.

 

[ERA]

G_J

thats interesting, I found it the other way around, on GFT charts I would set up a EUR chart next to a CHF chart at breakout time and watch the eur break first almost always and hit the chf a second later, never thought of trying it with the Aussie.