# You Have 5 Must Know Tips for Traders or Investors: They are? Why?



## tech/a (23 May 2019)

I'm interested in your best of the best.
Your absolute Must Go too's.
The things that you *KNOW* give you consistent profit.


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## verce (23 May 2019)

Not being afraid to pull the trigger when an opportunity arises.


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## Value Collector (23 May 2019)

1, spend less than you earn, and invest the difference.

2, Compound growth is your friend, use it.

3, think of shares/securities as parts of businesses/assets not blips on a computer screen.

4, choose assets that have natural inflation hedges while also producing income.

5, learn the difference between price and value.


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## greggles (24 May 2019)

1. Always have a stop loss in place
2. Always have a stop loss in place
3. Always have a stop loss in place
4. Always have a stop loss in place
5. Always have a stop loss in place

All of my greatest mistakes have been from not having a stop loss in place and getting emotionally invested in a stock. I have ridden some stocks down into nothing and it didn't have to happen. 

Always use a stop loss. If you get stopped out you can always re-enter again at a better time.


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## investtrader (24 May 2019)

Small losses, much bigger wins


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## Value Collector (24 May 2019)

greggles said:


> 1. Always have a stop loss in place
> 2. Always have a stop loss in place
> 3. Always have a stop loss in place
> 4. Always have a stop loss in place
> ...




In 24 years of investing, I have never used a stop loss.

(I am not saying they are bad, just that I don’t think they are hat important, especially if you are a long term investor rather than trader)


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## Knobby22 (24 May 2019)

Know why you are buying.
Don't be afraid to double up especially into a trend.
Take profits when toppy.
Read the company announcements.
When gathering information beware of bias.
If something is going down and you don't know why, sell.
(Sorry that is 6).


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## moXJO (24 May 2019)

Knowing when to sell.


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## cogs (24 May 2019)

In FX, know your exit target before you enter, and why price is moving there, this is why you enter where you do.


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## gartley (25 May 2019)

Your number one objective is survival not getting rich. If you survive the profits will eventually come.
- If you are losing trader, stop digging and step aside and rethink approach
- If you a breakeven trader, don't give up as you a few tweeks away from big money 
- Don't chase or force trades
- Exercise patience
- Have plan and a tested strategy and follow it with discipline, cap your losses but don't cap your profits


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## gartley (25 May 2019)

tech/a said:


> I'm interested in your best of the best.
> Your absolute Must Go too's.
> The things that you *KNOW* give you consistent profit.



Tech. with over 18000 posts and someone with your experience, you should be telling us))))


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## Zaxon (25 May 2019)

The trend is your friend
Cut your losses, and let your profits grow
A stock is only worth what the market is willing to pay. It may never reach some valuation you personally believe in
Don't pull out your flowers to water your weeds
Don't run your stops too close, else you'll be stopped out by the stock's natural perturbation


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## tech/a (25 May 2019)

gartley said:


> Tech. with over 18000 posts and someone with your experience, you should be telling us))))




All in good time


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## willoneau (25 May 2019)

Never bet more than you can afford to loss.


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## willoneau (25 May 2019)

I don't expect to win more than 50%, I just make sure my average profit is greater than my average loss.


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## tech/a (26 May 2019)

The following is what I have found to be true for *ALL* investing (in).

Trading
Business
Property
People

*Opportunity*

Learn how to *identify* opportunity
In trading that maybe (for you) Finding an undervalued Company 
or an emerging company or one supported by news or a chart pattern

In business that maybe a niche market or an area of perceived demand
or maybe an expertise you can bring to your area,country,the world. 

Property maybe an area where demand will increase or the worst house
in the best street or a distressed sale or a renovators delight or change in
zoning.

Learn what you need to do *to take advantage *of that opportunity.
That maybe capital or relevant experts on tap or software or a business
plan or test results or market research or P&L and Balance sheets and
of course *RISK* evaluation

Then *DO IT

Walk across the room and ask her/him out!!

Opportunity Cost*

Understand that sitting around waiting for something to happen is *VERY* 
expensive. Your Money *MUST* be constantly working for you if its not then
something is wrong and you *MUST* change things. ( You may never see
him/her again!)

A business which isn't attracting customers or clients. 
Or a Stock which isn't moving or worse falling while your invested
Or a Property which is costing you more to develop than the area will pay.

Don't fall for the *HOPE* or woulda shoulda coulda mantra.
Recognize failing opportunity. Particularly in bad or toxic relationships
or friendships!!

*Test and Evaluate everything.
*
As much as you possibly can *take control* of your own destiny. Learn what you need to
do to evaluate your opportunity and produce a blue print or blue prints to follow
Have clearly defined targets and if not met find out why. Understand the Signs of 
*FAILURE *and avoid it sooner than later. Investing purely on an idea and without proper
preparation is exactly what most failed investors do.
Don't give your money to others to invest in their ideas. Invest in *YOU*.
*BECOME THE EXPERT *control *your* risk.

*Understand Nett and Gross Profit*

Always take profit out even for re investment. Take out a wage if that's an aim
Provide for tax if your living week to week something is astray. Don't fall into the trap of
churning figures. _Or bad relationships!! Don't waste life!_

Finally *UNDERSTAND RISK*

Everything we do has a risk learn how to

*Identify it
Quantify it
Avoid it where possible
Minimize it
Mitigate it.
DON'T BE AFRAID OF RISK 
(Box above your weight!).
*

If you do everything that everyone else does then you'll just be one of millions.
Anyone can be a loser that's why there are millions of them.
*Don't do the same thing day in and day out and expect a different result!
Change something!

*
Lifestyle
Philanthropy
Money
Financial freedom
Time freedom
Happiness
Security
Family
Valued friendships
are some of the rewards of being *SUCCESSFULLY* different!

Enjoy.


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## HelloU (26 May 2019)

nice wrap up that



*("Walk across the room and ask her/him out!!"  *i miss bojangles   *)*


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## Value Collector (26 May 2019)

gartley said:


> Your number one objective is survival not getting rich. If you survive the profits will eventually come.




Yeah, as In tennis, often all it takes to win is getting the ball over the net, and waiting for the other side to make an unforced error.


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## tech/a (26 May 2019)

True

You might win the odd point

But the guy who is better prepared
Does things a lot differently, sees opportunity 
And takes while Understanding
 how he could lose everything 
But puts in place enough research to avoid it.

Will not only win more often but will have 
The longest career.


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## Value Collector (26 May 2019)

Berkshire hathaway’s 4 filters.


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## Zaxon (26 May 2019)

It is interesting to see people list as their top "must know tips", sometime points which are direct opposites of each other.  It's one of the oddities about shares, that completely opposite systems do genuinely work.


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## gartley (27 May 2019)

moXJO said:


> Knowing when to sell.




Having pre determined *initial* profit objective I think helps, and at least gives you a statistically acheivable goal based on the testing of your system. Once that goal is reached taking *partial profits* of about 50% and moving initial stop loss to breakeven gives you a free trade. How long a trend can last in your favour is anyones guess, but if you can trail it sensibly and as mentioned earlier not cap your profits.


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## tech/a (27 May 2019)

gartley said:


> Having pre determined *initial* profit objective I think helps, and at least gives you a statistically acheivable goal based on the testing of your system. Once that goal is reached taking *partial profits* of about 50% and moving initial stop loss to breakeven gives you a free trade. How long a trend can last in your favour is anyones guess, but if you can trail it sensibly and as mentioned earlier not cap your profits.




Certainly agree with this tip.
Although I take the lot.Then keep in 
a watchlist looking for continuation signals
And there are many.
Trading between support and resistance levels can be 
Very profitable and reliable!


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## HelloU (27 May 2019)

wrote a post in response to gartley an deleted it as it waffled ...
that selling thing is a real issue to me, i have been trying to mechanise a system for a while to not let profits evaporate too much before jumping out. It is more along the lines of the "whole lot" (like tech) but it always leaves a big hole in my heart ....and the fear of having jumped too quickly (my buy indicators will not trigger till 2 trade days have passed after a sell - more to give me emotional distance from the sell).


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## Boggo (27 May 2019)

greggles said:


> 1. Always have a stop loss in place
> 2. Always have a stop loss in place
> 3. Always have a stop loss in place
> 4. Always have a stop loss in place
> 5. Always have a stop loss in place




Agree.

(click to expand)


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## HelloU (27 May 2019)

it is where to have the stop that is tricky ....
for that stock 2 weeks earlier it stumbled, but if ur stop got hit 2 weeks ago then you missed out on the $1 of last week. 

if your stop did not get hit at all (or did not execute thru limits or vol or whatevs) then you are now $2.50 off highs (but maybe still in $2.50 in profit).

for me, stops for pilots are easy for capital management, but stops (or when to sell) for runs are really tricky.

 i know nothing of TNE


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## Boggo (27 May 2019)

HelloU said:


> it is where to have the stop that is tricky ....




(Sorry folks, going off topic just to answer this)

Backtesting is how you find it HelloU


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## gartley (27 May 2019)

HelloU said:


> it is where to have the stop that is tricky ....
> for that stock 2 weeks earlier it stumbled, but if ur stop got hit 2 weeks ago then you missed out on the $1 of last week.
> 
> if your stop did not get hit at all (or did not execute thru limits or vol or whatevs) then you are now $2.50 off highs (but maybe still in $2.50 in profit).
> ...



I think the timeframe you trade, size if your account and volatility of the market should dictate the size and placement of the stop.
Stop positiong is so important. Too close and you end up with nothing but a string of stopouts ( trade  needs room to breathe), too far and you can endure excessive drawdown as well put a big hole in your account if stopped. 
This may not be for everyone but it's what I do. 
If trading the daily chart I look at the average movement  (ATR ) of the last 14 days. The only exclusion to this if there was been a recent large spike up or down in which case I don't trade.
My initial TP is the ATR value when I entered the trade because I know that has a good chance of being achieved.
My ultimate SL is usually 1.5*ATR  and is based on 1-2% of my account size. 
This is worst case condition stop, there to protect the account in case something badly goes wrong. 
My preferred SL  price is dictated by the system exit indicator that is what usually exits the trade. This is dynamic and the order only goes in once the system triggers a sell.


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## HelloU (27 May 2019)

Boggo said:


> (Sorry folks, going off topic just to answer this)
> 
> Backtesting is how you find it HelloU



yeah, i get that, my whole previous post was about the trickiness of determining that jump-off point.

testing is extremely useful, but it is all history ..... so it is statistics ....... and never absolute. TNE traded from xmas onwards in such a way that historical data did not exist for it. It had not traded in that way for at least 3 years earlier .... so backtesting TNE data does not do much ...... so we backtest general ASX data, finger cross and hope we are ball-park, review what happens and tweak. and after all that we hope we have a profit.   

the statement "have a stop loss" is great advice (same as advice to buy low and sell high), but the actual specifics or WHERE to place the stop is the part that remains impossible to say as an absolute. That is the trading part i find most tricky and is the point of what i posted - the part where you have to put actual numbers into the order sheet ....actual numbers like price, or percentages, or volumes etc. i was trying to stimulate a more specific conversation to expand on the points being made ......... but that is maybe off-topic?


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## HelloU (27 May 2019)

gartley said:


> I think the timeframe you trade, size if your account and volatility of the market should dictate the size and placement of the stop.
> Stop positiong is so important. Too close and you end up with nothing but a string of stopouts ( trade  needs room to breathe), too far and you can endure excessive drawdown as well put a big hole in your account if stopped.
> This may not be for everyone but it's what I do.
> If trading the daily chart I look at the average movement  (ATR ) of the last 14 days. The only exclusion to this if there was been a recent large spike up or down in which case I don't trade.
> ...



thanks (was doing my above rant when u posted)
not everything suits all, but we often benefit from some specifics of others to test our own thoughts on things or give us ideas (many i do not understand particularly in those options threads but i read them anyway)


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## willoneau (27 May 2019)

Hi HelloU,
I think the way you trade play's a part in the type of stop you use, being a swing or trend trader for example. Also how much of your paper profits are you willing to risk before you close the position?
having a re-entry signal in your system if your stopped out can help if you trail close too.


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## HelloU (27 May 2019)

gartley said:


> I think the timeframe you trade, size if your account and volatility of the market should dictate the size and placement of the stop.
> Stop positiong is so important. Too close and you end up with nothing but a string of stopouts ( trade  needs room to breathe), too far and you can endure excessive drawdown as well put a big hole in your account if stopped.
> This may not be for everyone but it's what I do.
> If trading the daily chart I look at the average movement  (ATR ) of the last 14 days. The only exclusion to this if there was been a recent large spike up or down in which case I don't trade.
> ...



thanks
you showed me yours, i will show u mine

this is ONLY for stocks exceeding pre-set profit levels. (not iSL or moving to BE and beyond in early positions)
i have automated stops at levels down where i am crying ...... for the situation like chart above. they expire after 3 months if not executed so do not create too much effort to maintain. (IOOF was the last one to trigger from memory). my broker tells me when they expire (broker cancelled pre-trigger).

every day my system tells me if a price has dropped 5% from the most recent high ...basically flashes at me to have a look to see if it needs to go to preserve profits. i then use a series of chart tools mixed with groin scratching to decide what to do. if something gets to 10% off its highs my system screams that i am a dckhead and failing to heed its prior warnings - so i prolly should get on with the sell.  time consuming, requires chart analysis and often emotive, but works for me.

what else, as i get older i am slowly shifting capital inside my portfolio and altering the type of holdings i have, and who they are held with ...mainly in preparation for death (not imminent but who knows) so if i die the portfolio can be picked-up/liquidated by others without lots of complicated surprises - and hold securities that give them some breathing time to decide on actions.  That is important to me to help with their stress at that time.


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## willoneau (27 May 2019)

A trend following system with a 5% trailing stop is too close ,imho.


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## HelloU (27 May 2019)

willoneau said:


> A trend following system with a 5% trailing stop is too close ,imho.



(with fear of a derail)
yes, agree completely, thankyou

what u wrote adds to the understanding for peeps of how they might use stops (and they should). A 5% on a good profit is crazy stupid close for lots of reasons (eg ex dates, intra day moves, stop hunters on illiquids etc) and is VERY dangerous to have automated.

for clarity: i do not have a automated stop at SP being high 5% down but an alert for a manual look/analysis for profit retention reasons. my automated stops are way way down for those one-off bad things because i spend many hours each week to avoid getting near the automated stop (either it is going up or i have jumped off already on my own terms to retain profits) if my automated stop is hit something out of left field happened. My automated stop means i have kissed goodbye most of the profit - but there for the same reasons we have seatbelts in cars.


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## willoneau (27 May 2019)

I wasn't implying that you were trend trading and I noticed you said was a warning to start looking more closely. I agree having an automated stop away from market is good insurance.


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## HelloU (27 May 2019)

willoneau said:


> I wasn't implying that you were trend trading and I noticed you said was a warning to start looking more closely. I agree having an automated stop away from market is good insurance.



but i am trend trading ....... so all good (not sure what is going on there but i assumed u meant i was using a trend system - which i am)
my buy signals initially trigger on downtrend gradient changes to neutral (or up), and my sells trigger on + gradients changing to neutral (or down). I then use other criteria to try and guess the goodness of the trade (and groin scratching of course).

and as i get older i trend trade more and more sectors and similar on much longer time frames than i used to (rather than individual companies) just in case i die.

(perhaps my posts do not read as easy as i think they do??) dunno


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## willoneau (27 May 2019)

I thought you were but didn't want to assume.


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## HelloU (27 May 2019)

willoneau said:


> I thought you were but didn't want to assume.



all good, pretty sure that me and redoraob both love assumptions ....... most things that me do involves ass .... only one bit missing ...... any idea what that is will?

lol


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## willoneau (27 May 2019)

You lost me at the groin scratching system.


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## HelloU (27 May 2019)

willoneau said:


> I thought you were but didn't want to assume.



which is sorta why i was trying stimulate a more detailed discussion ..... like when peeps say "let ur profits run".... great advice but what does that really mean? at some point u have to make a decision to sell. you either sell on impulse or u can pre-determine that decision with some sort of process that can be done again. (i got tired of watching profits go into the pot as i hid behind the label of investor saying "it'll come back")

on the other, be right over to set u straight   (is straight the correct term there?) it is the best part of trading i reckon.

see ya


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## willoneau (27 May 2019)

I agree and wanted to find out how others controlled their risk.


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## Zaxon (27 May 2019)

HelloU said:


> just in case i die.



How old are you?


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## HelloU (27 May 2019)

willoneau said:


> I agree and wanted to find out how others controlled their risk.



thousand little devils in the details though when reading what others write .... but same here #metoo

ooops, is that ur doorbell ringing?


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## Zaxon (27 May 2019)

HelloU said:


> when peeps say "let ur profits run".... great advice but what does that really mean? at some point u have to make a decision to sell.



The two main ways of exiting a trade are a stop-loss (mostly about capital or profit preservation), and a system generated exit, such as when a MA1 crosses MA2, etc.  The system exit occurs when the conditions upon which you enter the trade no longer exists.  So in your case, once the trend has ended.

How loose to set the exits depends on your timeframe.  A trend trader would have much tighter exits than a trend investor.  There's no "right" level of tightness.  It's the balance between protecting your profits (tight) vs gaining possibly higher profit (loose), since you allowed you trade to run further.


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## HelloU (27 May 2019)

Zaxon said:


> How old are you?



about 6 when i write (say) penis ....lol

that other is important to me and is why i brought it up (cos peeps rarely talk about that aspect of portfolio management).  (leaving now to say the next)


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## willoneau (27 May 2019)

I'm not so interested in entry but curious about how risk is managed and exit styles are used.


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## willoneau (27 May 2019)

I use three different exit strategies one for currency, weekly trend trading and another for my breakout specy trading.


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## Zaxon (27 May 2019)

HelloU said:


> about 6 when i write (say) penis ....lol



I won't even pretend to know what that means.


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## HelloU (27 May 2019)

Zaxon said:


> The two main ways of exiting a trade are a stop-loss (mostly about capital or profit preservation), and a system generated exit, such as when a MA1 crosses MA2, etc.  The system exit occurs when the conditions upon which you enter the trade no longer exists.  So in your case, once the trend has ended.
> 
> How loose to set the exits depends on your timeframe.  A trend trader would have much tighter exits than a trend investor.  There's no "right" level of tightness.  It's the balance between protecting your profits (tight) vs gaining possibly higher profit (loose), since you allowed you trade to run further.



i used to think there was a difference between swing profits and investor profits and now i am not so sure - cos i would rather not have have to look for another entry if i can successfully hold by adjusting criteria (as a probability thing), example, hold out 2 more days and it statistically goes up again type thing so not sell the stock ..... whatever the reasons for exit there must be something i can write down as to why i did it - otherwise i cannot learn from it.  

all that ma cross (ema/PC for me with vol, whatevs) and other junk is the groin scratch for me. with all the probabilities and charts in the world there are no still no certainties. Its always a guess - just educated.


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## Zaxon (27 May 2019)

HelloU said:


> i used to think there was a difference between swing profits and investor profits and now i am not so sure



Mostly, it has to do with timeframes.  Here are the definition of swing and day traders:




By contrast, an investor wants to hold for as long as possible: months, years.  

One other possible distinction: traders will often take profits should the share price reach a target. More often, a trend investor may not have a profit target.  Just keep holding it forever until the trend ends.


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## willoneau (27 May 2019)

I thought swing trading was a mean revision type of trading?


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## Zaxon (27 May 2019)

willoneau said:


> I thought swing trading was a mean revision type of trading?



That's correct.  As well as a different time scale to a day trader, they also tend to trade the trend in both directions.


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## rnr (27 May 2019)

Zaxon said:


> That's correct.  As well as a different time scale to a day trader, they also tend to trade the trend in both directions.
> 
> View attachment 94988




The entry for a mean reversion trade is totally different (i.e. as in opposite) to that of a swing trade.


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## willoneau (27 May 2019)

rnr said:


> The entry for a mean reversion trade is totally different (i.e. as in opposite) to that of a swing trade.



I don't trade either way so am interested in your take on it ?


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## HelloU (27 May 2019)

Zaxon said:


> Mostly, it has to do with timeframes.  Here are the definition of swing and day traders:
> 
> View attachment 94986
> 
> ...



soz, what i meant was i used to think about the PROFITS for each one differently (and treat them differently) .... now i treat them the same and use the same sell triggers.


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## Zaxon (27 May 2019)

rnr said:


> The entry for a mean reversion trade is totally different (i.e. as in opposite) to that of a swing trade.



That seems right. Swing trading is a subset of trend trading.

Mean reversion trading:


> When the current market price is less than the average price, the stock is considered attractive for purchase, with the expectation that the price will rise. When the current market price is above the average price, the market price is expected to fall. In other words, deviations from the average price are expected to revert to the average.


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## rnr (27 May 2019)

@willoneau 

Much easier to just type "mean reversion trading" into a web browser and view the results. This will also help answer the numerous questions that will follow your initial read.


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## Zaxon (27 May 2019)

HelloU said:


> swings on pumps and dumps (pre-cash raise or rights issue or whatevs) i get having a target and (maybe) sticking to it cos it is pure hype and daytraders (but selling into a constant uptrend is not a great strat??)



A pure trend trader would never sell until the trend is over.  Profit targets don't come into it, nor does selling during the trend.

However, you could overlay on top of trend trading, stop-losses for capital protection, and profit taking for profit crystallization.


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## willoneau (27 May 2019)

Zaxon's quote is what I thought mean revision trading was.


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## Zaxon (27 May 2019)

willoneau said:


> Zaxon's quote is what I thought mean revision trading was.



Sounds like you're ready to graduation Trading Academy then.  Except revision is to review something: as in revise.  Reversion is to go back to a previous level: as in revert.


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## Value Collector (27 May 2019)

willoneau said:


> I agree and wanted to find out how others controlled their risk.




Margin of safety.

It also depends on what your definition of risk is, to me volatility is not risk.


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## HelloU (27 May 2019)

Zaxon said:


> A pure trend trader would never sell until the trend is over.  Profit targets don't come into it, nor does selling during the trend.
> 
> However, you could overlay on top of trend trading, stop-losses for capital protection, and profit taking for profit crystallization.



soz mate, ignore all that, it was part of a post i had started to write and then stopped for hour of power and AC and never finished or made it sensible ......... i did not realise it was still there above my other quote from you and i tried to delete it ....b4 anyone saw it ....it is gone now ....... but it was along the same lines of urs that there are not many reasons to sell an up trend (but a known pump might be a reason to stick to a an actual number and be happy for safety reasons to jump b4 the dump when manually trading).

that is why it read as a disjointed bit of rubbish. 
soz again (i think i got away with it)


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## rnr (27 May 2019)

As an example lets consider a long trade:-
a Swing Trader would enter the trade after a trend reversal had been established (i.e. on the way up) whereas a Mean Reversion trader would enter the trade prior to the trend reversal being established.


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## willoneau (27 May 2019)

Zaxon said:


> Sounds like you're ready to graduation Trading Academy then.  Except revision is to review something: as in revise.  Reversion is to go back to a previous level: as in revert.



Good point , I'll review the reversion then revise my idea about what it is.
also any help with my spelling would be appreciated as I type with my feet.


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## HelloU (27 May 2019)

willoneau said:


> Good point , I'll review the reversion then revise my idea about what it is.
> also any help with my spelling would be appreciated as I type with my feet.



smart
keeps ur hands free for analysing trade set-ups (aka groin scratching)


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## willoneau (27 May 2019)

I used a similar groin scratching system as you outlined but was unable to get it to work.


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## willoneau (27 May 2019)

Just re-read tech/a's first post and realized getting off topic.


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## willoneau (27 May 2019)

rnr said:


> As an example lets consider a long trade:-
> a Swing Trader would enter the trade after a trend reversal had been established (i.e. on the way up) whereas a Mean Reversion trader would enter the trade prior to the trend reversal being established.



I would be interested at seeing a mean reversion trader at work.


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## rnr (27 May 2019)

@willoneau 

No problems, just follow my suggestion in post #57 of this forum.


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## willoneau (27 May 2019)

Google searching is ok , thought there might be someone here on forum?


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## IFocus (27 May 2019)

If we are talking about trading test your method to death then paper trade it for 3 months min.

This is what professionals do if you don't you are a punter.

Also understand what the market over all is doing up, down, side ways.


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## rnr (27 May 2019)

willoneau said:


> Google searching is ok , thought there might be someone here on forum?




Just have a look at some the charts that are marked up (as per link) as you will get the drift very quickly.


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## willoneau (27 May 2019)

rnr said:


> Just have a look at some the charts that are marked up (as per link) as you will get the drift very quickly.



link?


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## rnr (27 May 2019)

@willoneau 

Back at post #57 in this thread.

https://www.aussiestockforums.com/t...estors-they-are-why.34716/page-2#post-1028646


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## willoneau (27 May 2019)

I think i got you (just type "mean reversion trading" into a web browser and view the results), I thought you had marked up some charts and there was a link to them


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## Joe Blow (27 May 2019)

Folks, this thread is veering off-topic. Please keep all comments directly related to the topic of the thread.

Thanks.


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## Smurf1976 (28 May 2019)

So far as rules are concerned, one of mine that always applies is that if you want to be on board well then get on board and don't be that person running down the street as the bus disappears into the distance.

Or in more practical terms if you want it and can buy it for $1.00 then what you don't want to be doing is trying but failing to buy it at 99c and then ending up buying at $1.20 etc.

Same in the other direction. If it's time to get out then do so.


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## tech/a (28 May 2019)

Smurf1976 said:


> So far as rules are concerned, one of mine that always applies is that if you want to be on board well then get on board and don't be that person running down the street as the bus disappears into the distance.
> 
> Or in more practical terms if you want it and can buy it for $1.00 then what you don't want to be doing is trying but failing to buy it at 99c and then ending up buying at $1.20 etc.
> 
> Same in the other direction. If it's time to get out then do so.




Radge has a saying for this both for entry AND Exits

“ Don’t be a Dick for a tick “


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## Value Collector (28 May 2019)

Smurf1976 said:


> So far as rules are concerned, one of mine that always applies is that if you want to be on board well then get on board and don't be that person running down the street as the bus disappears into the distance.
> 
> Or in more practical terms if you want it and can buy it for $1.00 then what you don't want to be doing is trying but failing to buy it at 99c and then ending up buying at $1.20 etc.
> 
> Same in the other direction. If it's time to get out then do so.




Why wife is experiencing this at the moment, Hahaha.

She was holding out for a 5 cent drop in Sydney airport, and so far over a couple months has moved her offer price up from $6.90 to $7.50, and still doesn’t own the stock.

She is a bargain shopper, but sometimes it works sometimes it doesn’t.


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## Gringotts Bank (28 May 2019)

tech/a said:


> “ Don’t be a Dick for a tick “



Don't be a duck either.


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## Gringotts Bank (28 May 2019)

Here's mine.

Some people can trade without a system.  This requires a very sensitive feel for the markets combined with a low fear of loss and missing out.  This is a rare combination of traits, because the more sensitive you are, the more anxiety you feel (as a genral rule).

Systems are great for reducing fear due to overthinking and second guessing.  They are great time savers too. 

More than anything, outer perfromance reflects the inner attitude.  Having a way to process fear is vital.  Being able to feel your feelings is vital.  The traders who tell you this is not necessary are those with the right attitude towards money, the world and self, usually picked up at a young age.  In other words, they've never looked into it because they've never needed to.  But for most people it's a factor.


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## Value Collector (29 May 2019)

Smurf1976 said:


> So far as rules are concerned, one of mine that always applies is that if you want to be on board well then get on board and don't be that person running down the street as the bus disappears into the distance.
> 
> Or in more practical terms if you want it and can buy it for $1.00 then what you don't want to be doing is trying but failing to buy it at 99c and then ending up buying at $1.20 etc.
> 
> Same in the other direction. If it's time to get out then do so.


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## Sir Burr (29 May 2019)

tech/a said:


> Radge has a saying for this both for entry AND Exits




I have a huge disinclination of anything he says.


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## tech/a (29 May 2019)

You wouldn’t be alone with your opinions
Just as I am not alone with mine.


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## tech/a (30 May 2019)

True few are enlightened


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