RE:RE:RE:Playing the gameThanks, MB. Question. Would you apply the same rules (percentages) to someone who is playing with very small dollars? I think that is where I am tripping myself up. Looking at dollars instead of percentages.
MBAhulkhogan wrote: There is no magic formula, but there is a winning method.
I have been playing the markets for 25+ years and it was real difficult when you had to read the paper and call your broker, now since the internet and all the tools we now have, jackpot times are here, feel lucky. This won't last forever.
I trade minimum 10 times per week and win 75% wasn’t always like this, was 25%. I set up rules and stick to them. Don't panic, don't cry over losses, get greedy and you will lose, don't react to the posts, and use them for entertainment and insight. Have a balanced approach, never put all your eggs in one basket.
I use tools, SST0, RSI, Bollinger bands, MACD. I do not trade if the tools don't say so. I set a profit margin and stick to it, no matter what happens. I make max 10- 20% per-trade on $100k trades, I stay inside the SSTO, Never get in at the bottom and never get out at the top. If you try and beat the market you will lose. Remember get greedy and will lose, there are super star traders on Wall Street their average is 30% year most are 10%, that’s why the bond market is 2-3% now.
Good luck GarlicToast