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TFC Commodity Trading Forum

Re: Risk: Our Achilles Heel
In Response To: Re: Risk: Our Achilles Heel ()

That is kind of what I have been doing and saying for over 30 years! And I am glad I looked at it that way, way back then?
Cause probably if I looked at it like it seems most do?
I wouldn't have been trading very long! ;(

1. Don't study and hunt for trades! Don't worry about:

This or that swirly line?

This or that is OB-OS?

This trend line may or may not break?

This support may ot may not hold?

This resistance may or may not hold?

This trend shows this?

This trend line shows that?

And most of the other stuff that any free guru market site will gladly tell another who will waste their time a read? ;)

2. Just look for longs in the strongest, look for shorts in the weakest and cycle trade in the sideways type moves.

3. Have a plan that you like and that works for you and USE it!

4. Trade-money management. Add this to your liking when profitable and you have the starts of a possible good method system.

Don't really like the term listen to the markets or listen to the charts.
Just come up with YOUR complete profitable system-method and USE it!

So for me?

1. Market selection:
Scan all stocks-ETFS and narrow down to a hand full if possible.
And in Forex scan and show the strongest and weakest.

2. Trade Selection:

Certain set-up patterns for possible trades.

Get in if price is hit.

3. Trade-Money Management:

Use certain stops and price targets while trading multiplies of 3 to 5 contracts.

For me, not really automatic trading.
BUT! Basicly all RULE based trading, while making it as close to automatic as possible. ;)
Really, The scanning is automatic. The set-ups, pattern and markets are automatic. The stops, targets and amount of contracts is automatic. Basicly the thing that is not automatic for me is if I put in the order ect.
Some weeks I want even look at the markets.
Many times there are too many selections to trade them all.
So for me the entering is not set on auto. ;)

But it could be. ;)

Messages In This Thread

Re: Risk: Our Achilles Heel