35854 replies to this topic

[fabes]

I realised today that my strategy totally sucks. Almost wiped out my account (small account but that's besides the point). I have been reading and strategising, but this is really not working for me guys. Where can I get some clarity on trading, or is this just not possible?

What is your stategy if I may ask?

[K~~]

I realised today that my strategy totally sucks. Almost wiped out my account (small account but that's besides the point). I have been reading and strategising, but this is really not working for me guys. Where can I get some clarity on trading, or is this just not possible?

 

Trading ALSI is one of the toughest things to do profitably.

 

Two things (Apart from your strategy) : 1) Get position sizes right. 2) Cut losses early.

 

90% of traders will give up in the first year, and more than half of those left will quit by year two.

 

So give yourself a couple of years. Paper trade at first until you get a strategy, and then make some Moola!

 

K

[AJS]

I realised today that my strategy totally sucks. Almost wiped out my account (small account but that's besides the point). I have been reading and strategising, but this is really not working for me guys. Where can I get some clarity on trading, or is this just not possible?

 

Howdy, welcome to the forum.

 

Trading is not easy.  Everyone can testify to that. If it was everyone would have been millionares.  It requires real determination and discipline in my opinion.  Then also a strategy as well as proper money and risk management.  Your strategy will be aligned to your risk profile, account size etc.  Different strokes for different okes.

 

If you stick around I'm sure you'll be able to learn.  People are keen to share and I find it valuable.  

[fabes]

There are many resources out there. There also some very good advice that's pointed out a lot on this forum. The most important rule is discipline and having a plan. If you follow noise, you might get burned. Remember markets are sometimes irrational.

 

Learn from your mistakes. Establish your risk appetite and manage your risk

[AJS]

A bit rough, but anyhow... diamond formation on 5min?

Attached Files

•  5min_diamond.png   58.28KB   8 downloads

[TheScotsman]

I realised today that my strategy totally sucks. Almost wiped out my account (small account but that's besides the point). I have been reading and strategising, but this is really not working for me guys. Where can I get some clarity on trading, or is this just not possible?

[AJS]

Don't normally pay too much attention to something like the 5min chart.  But for what it is worth...

Attached Files

•  5mins.png   58.1KB   14 downloads

[fabes]

Is FTSE on steriods? Seems to be pacing upwards. If that's anything to go by, then Alsi should pull it's usual stunt and go down. lol.

 

 

[fabes]

Still think we are going down. Will short again later. But will first see what markets do.

don't miss "die slag van bloedrivier"

 

Army is probably having lunch first, then clean out their guns.

 

Think we will fall hard this afternoon, then might climb with US tonight unless US goes red again.

[CPvanWyk]

Still think we are going down. Will short again later. But will first see what markets do.

[Redeemer]

Probably a good decision. Looks like the bear army had a tyre puncture.

 

Closed all my shorts.

[CPvanWyk]

Closed all my shorts.

[Shortboy]

Chucked short for 200 points against me

Tough luck P. I cant recall how many times I am reminded of Mhlato's slogan: The market always proves you wrong...just before it proves you right!

[CPvanWyk]

Will try and hold for the 40800 break. If it break and hold below line i will hold shorts, otherwise will offload.

 

 

Attached Files

•  chart1.pdf   286.95KB   24 downloads

[robsharechat]

So it's Platinum mine strikes. 

 

NHM  Northam Platinum

IMP Impala Platinum

AMS Anglo American Platinum

 

Maybe it's a good time for the shorties. The longines can wait for a downside.

 

But I wouldn't hold my breath - either side tends to be short lived.

[CPvanWyk]

Yes, i closed one and will maybe closed another one. Should only have 3 open positions. Don't like opening more than that. Stupidity is like gamble.

 

[Redeemer]

you must be breathing 10 times easier now CP? Now she must just drop like a stone and zap through all those entry points...throwing you into green!!!

 

Val Val Val Val Val

[AJS]

SL's has been taken out. Now it's time to short. AJS, kitchen sink??

 

still short.  Added on that inverted hammer candle on 15min at 4140-ish.

[CPvanWyk]

Val Val Val Val Val

 

Attached Files

•  everest3pdf.pdf   243.39KB   19 downloads
•  everest3pdf.pdf   243.39KB   11 downloads

Edited by CPvanWyk, 14 January 2014 - 11:35 AM.

[fabes]

SL's has been taken out. Now it's time to short. AJS, kitchen sink??