| StockFetcher Forums · General Discussion · NEVER LOSE AGAIN!! | << 1 ... 55 56 57 58 59 ... 105 >>Post Follow-up |
| TheRumpledOne 6,529 posts msg #74376 - Ignore TheRumpledOne |
5/14/2009 12:53:03 AM You need $25,000 minimum to day trade. MTC is a DAY TRADING strategy. I have seen your posts on SF and here's my take: 1) Forget about indicators, filters, etc... you are heading down a dead end street. 2) Read and listen to Mark Douglas until you "get it". You can find his books as PDFs on the net. Read them over and over and over again. That will be the best use of your time. Much more useful than filter writing. 3) Learn and understand risk/reward. Trading is a NUMBERS GAME. 4) Only trade ONE METHOD and ONE INSTRUMENT until you have MASTERED it. Quit looking for the next best system or hot stock. 5) Learn to find the best stocks for the method you want to trade. AAPL is a "cow". AAPL is NOT an RFR stock. RDN is an RDR stock. RDN is NOT a "cow". Do NOT attempt to "milk" RDN. Do NOT expect AAPL to "run". 6) Trading is 99% waiting. You wait for an entry. Then you wait for an exit. Then you wait for an entry. Then you wait for an exit. Then you... LEARN TO WAIT. There will always be another trade unless the company goes bankrupt..LOL! If you doubt my words, then visit www.kreslik.com and you can see what happened when one trader finally settled down and took my advice... doubled his account in under 3 weeks. Though he still struggles with sticking to the plan. If you wonder why I code indicators, write filters and develop methods, it's to keep my coding skills sharp. I don't use 99% of what I code. I rarely even run my filters. I already know what I am going to trade. My trading screen is real clean, just a few HORIZONTAL LINES along with real-time gauges. I'll know if you took this to heart by what I see you post or rather what you DO NOT POST. |
| cr0cop 87 posts msg #74391 - Ignore cr0cop |
5/14/2009 12:46:57 PM thanks for the advise rumbleone, i will check out those books! |
| cr0cop 87 posts msg #74392 - Ignore cr0cop |
5/14/2009 12:53:13 PM i found 'TRADING IN THE ZONE' by michael...... any other books you recommend? |
| stratigf 43 posts msg #74529 - Ignore stratigf |
5/18/2009 9:41:47 AM
I went away for a week and NOTHING CHANGES.....come on, MAN.LOL!!! |
| stratigf 43 posts msg #74530 - Ignore stratigf |
5/18/2009 9:43:25 AM
I did get a nice TAN... |
| TheRumpledOne 6,529 posts msg #74541 - Ignore TheRumpledOne |
5/18/2009 5:39:43 PM cr0cop i found 'TRADING IN THE ZONE' by michael...... any other books you recommend? ------------------------------------- Just reread it over and over until you "get it"!! |
| JCastellon 26 posts msg #74559 - Ignore JCastellon |
5/19/2009 1:37:30 AM im looking for the scan that shows the stats on how many time a certain stock fills the gap..... i remember seeing it but i didnt save it sadly.. ive been looking for about 2 hrs and still no luck! any help? |
| JCastellon 26 posts msg #74560 - Ignore JCastellon |
5/19/2009 1:38:59 AM nvm i just used the MTC scan to figure it out thanks anyways |
| stratigf 43 posts msg #74565 - Ignore stratigf |
5/19/2009 8:43:48 AM do a search for "FADING THE GAP STATISTICS FILTER". It's on the first page. |
| JCastellon 26 posts msg #74582 - Ignore JCastellon |
5/19/2009 9:41:58 PM thx! btw readtheprospectus.wordpress.com has a good TOS strategy for the buyzone |
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