Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
AZ. Are you willing to read a good book if it helped you conquer the emotions of trading?
Yes. All the time. Beating those emotions is when you turn the corner to becoming a good trader. It's the reason 95% of traders don't make it. You need to beat those emotions. Sounds like you've got a good plan.
They're trying to keep it rolling , but I'm just reading the charts. I'm a natural contrarian cap. That's how I'm going to make some money. So in this case , looking at your chart, I'm watching for the failed breakout, which btw can bring a nice move with it. A breakout and retest is very possible. Then the slow climb will continue. I'm just going to work with my strengths , personality wise. For anyone reading this post, imo that is why there's so many ways to make money. You just have to find out what's right for you. Then you have to develop a plan , which has to include money management and capital preservation. Forget these two and sooner or later you're done. Define your risk on every trade and set a stop. Do not stray from your rules. If you get it right, like I'm finding, you can get 1 out of ten right and still make money. Just think what will happen when you get on a roll. So that's where I'm at right now. Waiting. But if this thing breaks down, I'm shorting it. With a stop that defines my risk allowance. If everybody thinks it's going up, I'm going to be skeptical. Turns out that's not such a bad way to be. And for the newbies there something else you have to develop after your trade plan. You have to develop your confidence. You have to know that with your plan you are not going to the poor house, you will live again to fight another day, and with your plan you have the odds in your favor to a successful outcome. You need to have, on every trade, a positive expectation. You need to know that you have done everything you can to predict a positive outcome. I used to be real nervous about a lot of things. Someone once told me that the only reason to be nervous is if you have nothing to offer. If you've done your research, practiced your moves, put in your time , then there s no reason to be nervous. So do the proper work it takes to be confident in your choices. There's NO WAY you're going to make money consistently if you're not confident. End rant lol
That guitar sounds awesome Cap. Hate those payments too, but music. Man that's one of my loves. I understand. Sounds like you've got a sweet set up. Thanks for the chart bro and all of the informative post. Probably see you soon.
Thanks, but I'll just stick to the chart.
Volume drying up in this recent uptrend. ;)
Volume drying up in this recent uptrend. Just an observation.
Observation:
Volume is drying up in this recent uptrend. ;)
I'm going to take a break LB. I need to find myself. haha
You all are awesome and I appreciate all the great ideas and conversations. Thanks
I did not mean to offend you. I'm sorry if I did.
Gotcha. Thanks for the advice. Ill try a better angle next time. Much appreciated.
All I said was , hey you were strongly opinionated , you were wrong , now your the other way with your opinion , what say about that. I was replied to with " expletive " so on and so on and a non truth. I would think a more intelligent answer could have been found easily. The conversation would have ended there. I didn't see it as such a big deal. Maybe I struck a nerve here. Maybe hell, I struck a nerve. I would think that a little criticism would be good. When everyone is patting each other on the back all the time you might end up with a bunch of what you said " picuyane whatever's. Nice post Dan. And good morning ATM.
You're a leader. It does matter what you think.
Jan 27th is more like two weeks than two months ago. That's all I was pointing out in reply to you initial response. I didn't mean to offend you. Just calling you out. Thought you had thicker skin.
Come on "tough love ". There alot of following around here, and when a "leader" makes definitive statements, He or she should be called out. I'm not talking about ATM alone. It's ihub and any opinion outlet. I'm probably out of post soon, one tactic to winning arguments on ihub, so don't expect any come backs. I was just posting my opinion on what I see I may have more on calling out others later. It needs to be done. It's not out of spite. To me it's part of the fun. I didn't mean to offend anyone.
"Believe what you see not what you hear." Or read. Good post thanks. I need a reminder too.
I called you out on you thinking we were entering a Bear Market. You say , yeah two months ago. I thought it was a little closer to the present. Oh well. I didn't think you were so sensitive. Don't we all deserve some accountability.
We're all entitled to a calling out.
You made a 180•. Now you're playing it off. I'm calling you out on doing that I'm not a big novel writer like many on this site. So I'll leave it at that.
Woah dude. I'm just calling you out. You can take it or leave it.
DA , we can all change our minds.
DA , come on " A Couple months ago" ? I don't think so. I'm just checking. Imo that's not acceptable.
Weren't you just talking about a Bear Market DA? We're all untitled to a 180• , just wondering what you have to say about that.
Nice charts. Thanks for sharing LB.
Hey hey. Yes we should spend more time on money management. I have soooo much to learn. Sooooo much.
Mornin griff. Same here. I have been organizing my list so that I have one smaller list is what I am trading, and a larger for checking daily or weekly for reference. But trying to really streamline everything. A work in progress definitely.
Good night y'all. Thanks for sharing the insights here.
Griff I have less than you guys I need to clean up the list cause many are the same thing in different list, but I think you can make a living with 10 issues or once called tennis shoes. I have added bellwethers to each sector and I owe that to your research. Like to check it top down , all world index, a few important large international funds, the spy, DIA , QQQ, small caps, transports. Sector rotation is a clue where the market is going as well imo.
Two new books from Amazon arrived today. Trading in the Zone - Mark Douglas. And Trading Rules by William Eng. I've got a feeling these are going to be good.
Heck yeah man. I'm turning the corner. Lots lots lots more to learn. Everyday there's more to learn. Thanks for the great group here to discuss and share.
Is page 9 basic materials or commodity related?
I think I can, I think I can haha. One thing I know that brings me confidence, is that understanding money management will keep me out of trouble. I've had a few months lately where I was wrong more than right, but my account grew!!! I can't tell you how happy I am about that. It just tilts the field in your favor.
Wowza. Would love to pull off a trade that moved like that.
Thanks DA. Will be on the lookout.
I totally agree. I steer clear of an HOA personally. Can't always do that , but owning your house and property just doesn't feel right when you can't even park your work truck on the side, or having someone fine you for not cutting your grass on time. I can see the advantages, just definitely not for me. I see where you are coming from mokew. Really good advice.
What has the world come to? Geez
No Garden For You!
Very cool. I can't to hear how it goes.
Yup. Cap. That stop sure helps you do other things. A trailing stop is really nice as well. Some of my trading platforms don't offer them.