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Strategies & Market Trends : Ride the Tiger with CD
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To: dara who wrote (241060)4/3/2016 2:04:50 PM
From: Berry Picker1 Recommendation

Recommended By
dara

   of 313930
 
Not right now but I was very active at one time
Plan to start again soon - do not even have my software loaded.

I made 48 trades one day - it was crazy as I ended out the day down $50 lol
I was going to make sure I ended the day positive but I was just exhausted.

I am quite knowledgeable about it and have various strategies that I came to
myself but highly doubt are not known to likely many others who spent the time
thinking about it. Intelligence is not the secret to success as many highly intelligent
people have knocked themselves out trying to win consistently and could not.

The secret to success is self discipline and consistency not mostly strategy.
Strategies are easy to invent and historically test but application is another thing

One fellow I knew - who was always successful - was never out of the market
If he changed his mind about the likely direction he would reverse position
but never went flat - so if he was short one contract he would have a reversing
stop as in buy 2 contracts - if filled he would enter another reversing stop.
I should not have said "changed his mind" he had a strategy and on the spot
decisions were NOT a part of his act but rather money management.
However the fellow never slept more than 2 hours at a time watched markets
24 hours a day during the week and I mean all of them - metals grains meats $$.

A BIG MISTAKE I often make is to look at the last bar before it is done
Second is to misplace time-frame - You need to start with Monthly chart
to decide on tendency of market direction - then daily to spot a good entry
and finally hourly to enter at best price but to look at a daily and ignore monthly
is a common mistake. You can forget what time-frame you are in. People ask
me what direction something is going and I answer but what time line are
THEY in? Do they mean today - this week - this month as the answer could
be different and best entry is when all of them align if you are a discretionary
trader. No one KNOWS where a market is going - it is a best bet situation.
Some best bets are much better than others however but listening to stories
about shortages or politics or weather (grains) is a waste of time and noise.
Excessive indicators is also a joke. How many ways do you trash the same info?
Pick a market - I will tell you if the close is higher or lower than the open tomorrow
much more than 50% of the time - or I may need to skip one day but it is enough.
Can D looks bearish but the last half of trade Friday bulls fought hard so for
Monday - I would be unsure while Friday morning it was a "sure" bet for down
at 5 am in the morning. Actually Thursday when it bounced so hard off of 78
was when I was sure but for next week I would say I am 60/40 - not so sure.
The markets are manipulated - that is the factor that needs to be kept in mind.

The number 1 problem with most amateur traders is UNDER FUNDING.

Anyways - a simple yes or no would have done - sorry - I am a talker :-)
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