Well, I seem to be at the stage where I've just blown up, tanked, depleted...whatever...my account, for the first time. Not very pleasant but hopefully a good lesson and a little negative reinforcement to not do it again. Not sure I'll be much help to anyone just yet, but I appreciate that everyone contributes.
1992, LaSalle St, retail bond sales, learned equities, tech biotech boutique investment bank, nasdaq trading desk, ran desk, penny wide mkts, CBOE local, 9/11, off floor equities, futures. I guess I've been around a while. I've tried to approach things with an open mind, evaluate everything, retain what is useful and let pass without harm what is not useful. I have been at least twice as lucky as I have been good. I talk more about my losers because there reside the seeds for victory.
I've decided to be "open book" with respect to what works for me and how I approach trading for three reasons.
1. I am a program language dummy and I need the colaborative help of guys who posess attributes that I lack.
2. I want to share what works for me with people that might benefit from it because I think we all should have a shot at things I sometimes take for granted...like working 4 hours a day from my den in boxer shorts.
3. It is a fact that anything shared will in an instant have the bias of the reciever layed over it, making the secrets of the ages safe for another thousand years.
So, experienced successful tarding professional in search of a mutually beneficial colaborative effort returning value where value has been received.
My name is Dan, nice to meet you.
The following user says Thank You to wldman for this post:
Hello everyone. I'm new to this blog but i'm enjoying it very much. There is so much knowledge here. I am a long time equity trader ( 35yr) but a beginner to trading the futures market. I have been giving a go at it for 2 years with erratic success. My account is up and down. My goal would be to trade successfully on a weekly and monthly basis in order to increase my account. I know realize that i need to stick with my trading plan and adhere to my rules and setups. I have been all over the board so to speak. Trading all different commodities I have been trying to trade breakouts following the Taylor Technic. I know realize I need to stick with YM or NQ and stay within my trading parameters. Just wanted to say hell to Big Mike and all here. Thanks, Stones. p.s. Goooooooo Browns.
Hi all... I just came across this forum and it seemed the best forum for traders. I mainly trade stocks and just started couple weeks ago. My strategy is simple. Get in at the bottom and get out as soon as the stock move up 3 or 4% (sometimes hold longer depends on the market). Sometimes it takes couple hours and sometimes couple days.
I usually focus on few stocks to trade... no scanners no signals just my own judgement. My little experience taught me that being familiar with a stock by following it is the best way to decide when to get in and when to get out. I started with a small account to get familiar with trading and feel more comfortable. Last two weeks I made 15% profit after fees and commission. Not too bad for a starter.
One thing I strongly recommend day traders to keep in mind is their entry point. Your entry point is the most important factor to make profit. Unless you 100% sure this stock is going up soon don't get in. Find another stock don't just give it a try.