Posted by Palladin on 31st of Jul 2012 at 10:22 am
I agree with most of it but I don't see why one "must" define a
specific trade style. I swing and day trade and also have long
term holdings. I think you can do all this s
uccessfullyif you stick to a plan within the trading style
one is using at any given time. 2 cents.
yep, I agree with you in theory and that's how it should be, I'm
just speaking from what Iv'e see over the years, i.e. for example a
guy who is good at day trading, then tries to swing trade and ends
up getting frustrated, or a guy who works a 40 hr week day job
trying to day trader which is an obvious hindrance, or who is just
not cut out to day trade, trying to do it and ends up churning his
account up and getting frustrated. But yes I agree, we
should be able to do both, but people sometimes run into issues. I
think one solution is to have two trading accounts, one for short
term trades, one for position trading so they they are not mixed.
But again to each his own, whatever works.
As traders we all have to find our own path, and that takes
time, most people give up before they find their path.
Trading is one of those ironic things, it's actually very
easy and a simple concept, but it's hard in practice and takes time
to master because of our human emotions.
Posted by parkridge77 on 31st of Jul 2012 at 10:48 am
Consistency? in trading- Matt don't you think tracking the same
indicators consistently is also an important trading tool?
too broad an array dilutes/diffuses focus & is
distracting/exhasuting I find personally. Same could be
said aboaut just tracking a pool of stocks vs. a wide
spectrum. Some traders choose a to follow 5-10
stocks and trade resistance & support--
consistently.
yep depends on you. I think there is a big benefit to
having a list of stocks/companies that you like fundamentally, and
then using technical analysis (not to find the stocks), but to time
your entries and exits on the stocks that you already like. I
really think for most people this option makes a lot of sense and
is less work and less complicated
on the other hand, I know traders personally who don't give a
crap about fundamentals and run scans each day to find a list of
new stocks to day trade each day and they do very well - lots of
work though.
again that's why I said, to each his own, find your own
path.
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I agree with most of
Hmm
Posted by Palladin on 31st of Jul 2012 at 10:22 am
I agree with most of it but I don't see why one "must" define a specific trade style. I swing and day trade and also have long term holdings. I think you can do all this s uccessfullyif you stick to a plan within the trading style one is using at any given time. 2 cents.
yep, I agree with you
Posted by matt on 31st of Jul 2012 at 10:41 am
yep, I agree with you in theory and that's how it should be, I'm just speaking from what Iv'e see over the years, i.e. for example a guy who is good at day trading, then tries to swing trade and ends up getting frustrated, or a guy who works a 40 hr week day job trying to day trader which is an obvious hindrance, or who is just not cut out to day trade, trying to do it and ends up churning his account up and getting frustrated. But yes I agree, we should be able to do both, but people sometimes run into issues. I think one solution is to have two trading accounts, one for short term trades, one for position trading so they they are not mixed. But again to each his own, whatever works.
As traders we all have to find our own path, and that takes time, most people give up before they find their path. Trading is one of those ironic things, it's actually very easy and a simple concept, but it's hard in practice and takes time to master because of our human emotions.
Consistency? in trading- Matt don't
Posted by parkridge77 on 31st of Jul 2012 at 10:48 am
Consistency? in trading- Matt don't you think tracking the same indicators consistently is also an important trading tool? too broad an array dilutes/diffuses focus & is distracting/exhasuting I find personally. Same could be said aboaut just tracking a pool of stocks vs. a wide spectrum. Some traders choose a to follow 5-10 stocks and trade resistance & support-- consistently.
yep depends on you. I
Posted by matt on 31st of Jul 2012 at 10:52 am
yep depends on you. I think there is a big benefit to having a list of stocks/companies that you like fundamentally, and then using technical analysis (not to find the stocks), but to time your entries and exits on the stocks that you already like. I really think for most people this option makes a lot of sense and is less work and less complicated
on the other hand, I know traders personally who don't give a crap about fundamentals and run scans each day to find a list of new stocks to day trade each day and they do very well - lots of work though.
again that's why I said, to each his own, find your own path.