35854 replies to this topic

[Sunesis]

on A's holding 'longer' term for now

this is problem I have now - closed my long T40spot at 38928 afraid that we might go down on US open , now  instead  it is going up up and wondering if should just go long at current higher entry as current situation ( this strategy seems strongly incidated by technicals and false low due to political risk i think will soon be off the table) least till after resolution pop and beyond - would you suggest going long even at this point? i.e. not wait for a dip which may never come!

and of course on IG every time charges its 20 to 30 points cost ) R1500 cost

A dip always comes, problem is when it comes people don't have the b#lls to buy.

But in a bull market you can buy anywhere really. Just as long as you control you money management.

 

For example if you have a 300k account, and you trade R10 per point. You make R30 000 in 20 trading days if you go for 150 points a day, that's a month worth of work.

But if you are experianced you can make R3000-5000 a day depending on how the market moved. You do that by just simply buying dip and close, perfect when market is ranging.

That's better than just holding long term. Everyday you sleep with a closed trade with money in the bag. With uncertain markets, who would want to hold long term. Even big banks hire a lot of day traders who have skills to make money everyday. They have robots which only hold trade for 1sec. It makes more than 10 000 trades a day.

 

For those who love to watch trading documentaries.

http://www.youtube.c...h?v=ynwMLjGzsJ0

 

It will help you with how traders think

 

You will learn how traders think.

 

You can watch this documentary by Robert Shiller who won the econimics Nobel prize today.

 

http://www.youtube.c...h?v=ynwMLjGzsJ0

[OceanWalz]

on A's holding 'longer' term for now

this is problem I have now - closed my long T40spot at 38928 afraid that we might go down on US open , now  instead  it is going up up and wondering if should just go long at current higher entry as current situation ( this strategy seems strongly incidated by technicals and false low due to political risk i think will soon be off the table) least till after resolution pop and beyond - would you suggest going long even at this point? i.e. not wait for a dip which may never come!

and of course on IG every time charges its 20 to 30 points cost ) R1500 cost

so the in and out vs hold longer surely isnt a fast rule for the savvy trader but rather which is better probability (potential gain vs Risk) under which circumstances for which trader skills and knowledge/info availability- I think the Longer term , (undefined , but currently at least till after post-political pop is priced in) is the superior trade for me using on my platform (IG) with my not yet having the in and out skills of the superior traders here.

Edited by OceanWalz, 14 October 2013 - 04:38 PM.

[Mad Max]

moi

you just said "The trend always wins no matter how hard the noise shouts" and now you go totally against that ???

[Sunesis]

who has got to balls to take short now and leave it open till tomorrow?

Money Money Money

 

Viva La Bull

[OceanWalz]

on A's holding 'longer' term for now

Plus think of all the commission you are saving on.  Longer term trading has the no1 advantage of discarding all noise(swings). The trend always wins no matter how hard the noise shouts

this is problem I have now - closed my long T40spot at 38928 afraid that we might go down on US open , now  instead  it is going up up and wondering if should just go long at current higher entry as current situation ( this strategy seems strongly incidated by technicals and false low due to political risk i think will soon be off the table) least till after resolution pop and beyond - would you suggest going long even at this point? i.e. not wait for a dip which may never come!

and of course on IG every time charges its 20 to 30 points cost ) R1500 cost

[CPvanWyk]

who has got to balls to take short now and leave it open till tomorrow?

Edited by CPvanWyk, 14 October 2013 - 04:20 PM.

[Mad Max]

Although I subscribe to 100-point-trade-a-day (if and where possible), I can see your argument here, Argento. Nurturing a couple of trades over two weeks, then one silly move (you or the market) and all is in the balance - not a very nice feeling nor very motivating.

 

To help me counter-balance such a scenario (had them too many a times), is getting into one's head, THERE IS ALWAYS another opportunity in trading, if you stay in the game with a liquid account balance (do not run losers beyond your means or account scope).

 

To back-out from a losing trade or not trade at all is fine, it really is. Tomorrow there are new opportunities to be had, if you are still in the game.

 

Amen to that. That was me last week. Burnt now licking my wounds.

[Sunesis]

Run Bear Run

http://www.youtube.c...h?v=VWAIjYs9Lws

[Lekkerry]

Although I subscribe to 100-point-trade-a-day (if and where possible), I can see your argument here, Argento. Nurturing a couple of trades over two weeks, then one silly move (you or the market) and all is in the balance - not a very nice feeling nor very motivating.

 

To help me counter-balance such a scenario (had them too many a times), is getting into one's head, THERE IS ALWAYS another opportunity in trading, if you stay in the game with a liquid account balance (do not run losers beyond your means or account scope).

 

To back-out from a losing trade or not trade at all is fine, it really is. Tomorrow there are new opportunities to be had, if you are still in the game.

 

 

Problem I had with in and out was you can make 7 good trades and it only takes one to eat all your profits and even creates a loss, especially when trading the TOP40 and it's violent swings, and I really studied and traded this market full time!

 

But agreed, holy grail of trading is you and your strategy!

 

A

[Sam]

Lol or we could call it.."A million and one ways not to trade"

Lol..

[Argento]

The advise on the book is good.

 

The nice thing about trading is that, it's not a science. There are too many ways to slaughter a cow.

The trader on the book struggles to make money going in and out.

So he preffered to use a different tactic which worked with his mental fitness.

 

We have traders who make money by going in and out.

We have traders who make money by going long term.

You just have to find what works for you.

 

People are different.

Problem I had with in and out was you can make 7 good trades and it only takes one to eat all your profits and even creates a loss, especially when trading the TOP40 and it's violent swings, and I really studied and traded this market full time!

 

But agreed, holy grail of trading is you and your strategy!

 

A

Edited by Argento, 14 October 2013 - 03:20 PM.

[Sam]

"Diaries of a Sharechat trader"..With actual quotes and posts  and all the usual suspects

Lol... And the books written by myself would be

Diaries of a **** Sharetrader .....and
How to lose a million in 80 days days


Speaking from great experience here guys.

[Sam]

[quote name="Argento" post="220163" timestamp="1381753038"]For if you have not read this book...best trader that ever lived and his advice on in and out!
 
This is a great read.
Free download of REMINISCENCES OF A STOCK OPERATOR at www.nowandfutures.com.

[Sunesis]

For if you have not read this book...best trader that ever lived and his advice on in and out!

 

And trading the TOP40 is no different at all!

 

A

The advise on the book is good.

 

The nice thing about trading is that, it's not a science. There are too many ways to slaughter a cow.

The trader on the book struggles to make money going in and out.

So he preffered to use a different tactic which worked with his mental fitness.

 

We have traders who make money by going in and out.

We have traders who make money by going long term.

You just have to find what works for you.

 

People are different.

[Redeemer]

Ha ha ha Chubby...what will the book be called..."Around a million in 80 ways"???

 

 

Im just pulling R's leg If he can sit it out kudo's to him! And guys..this is one of only two trading books you will ever need to trade( IT is a must read!)

The other im still compiling so please support, and will be in a bookstore near your very soon! 

[Sam]

ame="Sam" post="220157" timestamp="1381751797"]

Hi Sam,
TOPDWI it is, watch it go to R10 by year end!
A

Thanks.
We'll see :-)

[Argento]

Im just pulling R's leg If he can sit it out kudo's to him! And guys..this is one of only two trading books you will ever need to trade( IT is a must read!)

The other im still compiling so please support, and will be in a bookstore near your very soon! 

[Redeemer]

yeah...will soon call myself Longman...and my signature will be "longs for long"

 

 

lol Reedemer..you sitting in a trade for 3 months??????

[Argento]

Traders make more money going in and out. Holding a trade for three months is like investing.

Why would you like to take yourself through rollorcoaster rides everyday. That's mental.

 

Or maybe Reedemer is not a day trader.

For if you have not read this book...best trader that ever lived and his advice on in and out!

 

And trading the TOP40 is no different at all!

 

A

[Sunesis]

lol Reedemer..you sitting in a trade for 3 months??????

Traders make more money going in and out. Holding a trade for three months is like investing.

Why would you like to take yourself through rollorcoaster rides everyday. That's mental.

 

Or maybe Reedemer is not a day trader.