DislikedFor me the biggest secret is timing. Catching the right moment to enter a trade?.Ignored
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DislikedFor me the biggest secret is timing. Catching the right moment to enter a trade?.Ignored
DislikedCOT data is meant to give a larger picture of things and it lags (week). It sorta like when as a kid your parents planned a long car trip. You have an idea of where you are going however you make many stops along the way. The COT and indexes are 2 different animals. COT is looking at things from a 50,000 foot view and indexes are done on a intra-day basis. News means nothing unless you have market participants active. How many times has news been hawkish or dovish only to have the market react in the opposite direction? News can be the catalyst...Ignored
Disliked{quote} If you want to know the bigger picture you need to understand the central banks agenda and the economy. The reason news trading fails traders is because they don't understand the fundamentals and either miss the important information or miss other market driving factors. So for example , if nfp is expected to be 163k and comes out as 180k, it might be confusing why the dollar is selling off. The thing is the selling could be a nail in the coffin for a rate hike or wage growth is worse than expected. These are the types of events that catch...Ignored
DislikedYou don't need TA but it can give some people more confidence. I havent used TA in a year and I am more successful as a result. Each to their own thoughIgnored
Disliked{quote} You need to qualify this statement as it means very little to anyone. So if you use absolutely no TA, what do you use, and on what time frame are you trading, otherwise for all anyone knows, you could be using rune stones for your trading.Ignored
Disliked{quote} Fan of Jarratt Davis? Just curious when you place your trades, are you scaling in once a trend is underway, what do you use for targets and stops?Ignored
DislikedThere's no secret ovbiously but I can tell you what's important: Picking a good broker and making money. That will happen if you're comfortable with your system/plan ! You don't really learn anything from other traders, even if they share a profitable strategy it may not be suitable for your "personality", eg. it requires lots of waiting etc. Personally I do know several profitable strategies, but I discarded all of them because I can't deal with losing streaks and being conservative. When I tried to be conservative I blew a 5k account and lost...Ignored
Disliked{quote} Very good dear how much you risk per trade or what system of m.m. Thanks.Ignored
Now each of these main grouping has an infinite amounts of ways to profit from. I have met Swing traders both successful who disagreed on their views of the markets. They are in the same grouping but how they do it completely black and white. Some are shorter term oriented others longer, I think the short term traders have a higher win rate than the long term traders. But the irony is long term trader is more profitable because when the long term trader nails it, He makes a killing. Some of his trades can more than double his account. Short term higher win rate but less profitable.
A breakout trader can also be a reversal trader or a pullback/continuation trader. Success in trading means understanding the game not parts of it. The style of good traders is only a matter of choice , depending on their beliefs,personality and comfortably. Think about it, How can you follow a trend without knowing when the trend is reversing. How can you be a reversal trader without knowing the structural characteristics of a trending market, how can you be a range trader unless you know when the dynamics is changing and the market is not more in a contractionary phase. And how can you be a swing trader without knowing that we are in a trend.
DislikedYour brain is already a super computer, I don't even get why you will trust something less powerful than yourself. e.g will you send your 4year old kid instead of your 19yrs old child for something that really matters to you? You will never make a dime in this arena until you understand rule 1. Don't lose Money. My trading took a turn when i focused on not losing money rather than making. It won't turn you profitable at first but atleast by not losing you are half way there.Ignored