Day traders ONLY - a continuing study

[coyotte]

I thought all the Day Traders died after the Dot-Com collapse. I remember the talk of making $50,000 a week. Some in the States committed suicide and a few went back and shot their work M8's. Dangerous game!

Can be far less dangerous the Position Trading --- no overnight GAPS!

What was dangerous about the trade I just mentioned ?

US price was around $au $3.09

Price opened @ $3.03 ---Bought @ $3.04 -- Stop @ $ 3.00--- Sold @ $3.09


SP has continued up --- but the profit locked in -- just wait for another oppurtunity if it arises --- Also running RMD (SHORT) for <= $6.30



Cheers

 

[ducati916]

Yogi

There is only really one way to learn daytrading, and that is to actually do it live. There is the CHAT facility and this is the area that could be best utilized for this kind of learning experience.

In essence, you would need 1 trader per day [can be a different trader/style each day] to be the facilitator of the days trading.

They then trade live, and others can follow, ask questions as the day progresses. Following day, someone else becomes the "trader".

What will become very apparent, very quickly, is no one form of analysis has any greater predictive power than another, but that trade DISCIPLINE is KING.

jog on
d998

 

[ironchef]

Yogi talks a lot, but says very little. Pregnant housewives are like that... Moan and groan about everything, always want to be the center of attention.

Yogi, go take some tablets and have a lie down. This isn't the Oprah Winfry forums, theres no need to break your water everytime you see something you dont like.

I'd still like to hear people's views and tips on day trading (minus the fodder that Yogi injects into this thread)

 

[yogi-in-oz]

Tech,

I'm not interested in taking sides here, but don't know why you can't just ignore any comments you don't care for.

Perhaps the idea would have been better without your comment (which wasn't made for the first time) about making obscene amounts of money and many times more than your employees earn? Although to you this is obviously just stating a fact, it could come across as somewhat insensitive.

Julia

Yes, EXACTLY Julia,

...... VERY, VERY insensitive comments and definitely
NOT the first time.

happy days

yogi

 

[yogi-in-oz]

Yogi

There is only really one way to learn daytrading, and that is to actually do it live. There is the CHAT facility and this is the area that could be best utilized for this kind of learning experience.

In essence, you would need 1 trader per day [can be a different trader/style each day] to be the facilitator of the days trading.

They then trade live, and others can follow, ask questions as the day progresses. Following day, someone else becomes the "trader".

What will become very apparent, very quickly, is no one form of analysis has any greater predictive power than another, but that trade DISCIPLINE is KING.

jog on
d998

Hi Duc,

Likewise, coming from a futures trading background here,
your comments are well received on this end.

There's no question about discipline and learning by
actual practice ..... and that's a great idea, to share the
experiences of many traders day-by-day, as it allows
traders to draw on a much broader knowledge base !~!

happy days

yogi



=====

 

[chops_a_must]

Re: Day traders ONLY--- a continuing study.

Just because somebody takes this egotist to task, is no
reason to delete the posts ..... somebody has to pose the
hard questions ..... yes???

Says somebody who believes that astrology can be used to predict market moves?

 

[Snakey]

hi tech... great thread.....
its a pitty there is wankers on here that make a lot of boo boo's

anyway i think self-discipline and patience are the key to day trading ....waiting for opportunity and taking advantage of opportunity....also grabbing a profit before it turns into a loss.

p.s. this thread is for day traders only .....investors please start own thread.
merry christmas to you too.. tech/a

 

[ducati916]

Re: Day traders ONLY--- a continuing study.

Says somebody who believes that astrology can be used to predict market moves?

The style of analysis on a daytrading timeframe is absolutely irrelevant to the outcome, as you will find all forms of analysis ultimately play out to 50/50

What will make you the money is trade discipline.

Why all the arguments about trading analysis?
Simple.
When you have to choose an entry point with $100K + on the line, you NEED TO BELIEVE IN SOMETHING it matters not if it's a pivot point, Jupiter crossing Mars, or a 180ema.........you gotta have the balls to place the trade, and if the trade goes against you, to close the mother fast.

Trade analysis simply gives you the areas where trade [psychological] discipline will be strongest in terms of belief, and delineates the highest PROBABILITY OF THE TRADER ACTING to his trading plan.

jog on
d998

 

[yogi-in-oz]

Re: Day traders ONLY--- a continuing study.

Says somebody who believes that astrology can be used to predict market moves?

..... and proud of it because, if we put it to the test
in any time frame, even daytrading, it surfaces as
a very useful market timing tool.

Now, if you care to nominate ANY stock and give us your
intraday analysis, the astroanalysis will be posted in
response .....

..... somehow, that challenge is rarely met, so will you
be the first to respond with some detailed analysis, chops?

happy days

yogi

 

[chops_a_must]

Re: Day traders ONLY--- a continuing study.

The style of analysis on a daytrading timeframe is absolutely irrelevant to the outcome, as you will find all forms of analysis ultimately play out to 50/50

What will make you the money is trade discipline.

Why all the arguments about trading analysis?
Simple.
When you have to choose an entry point with $100K + on the line, you NEED TO BELIEVE IN SOMETHING it matters not if it's a pivot point, Jupiter crossing Mars, or a 180ema.........you gotta have the balls to place the trade, and if the trade goes against you, to close the mother fast.

Trade analysis simply gives you the areas where trade [psychological] discipline will be strongest in terms of belief, and delineates the highest PROBABILITY OF THE TRADER ACTING to his trading plan.

jog on
d998

I agree with you. I'm just making the point that when Yogi posts on stock threads, about negative/ positive cycles etc. there is no explanation, just statement. Yet, that is exactly what Yogi is complaining of in this thread.

 

[chops_a_must]

Re: Day traders ONLY--- a continuing study.

..... and proud of it because, if we put it to the test
in any time frame, even daytrading, it surfaces as
a very useful market timing tool.

Now, if you care to nominate ANY stock and give us your
intraday analysis, the astroanalysis will be posted in
response .....

..... somehow, that challenge is rarely met, so will you
be the first to respond with some detailed analysis, chops?

happy days

yogi

No, because I'm not a day-trader. I just find your attacks somewhat hypocritical.

 

[ducati916]

So all we need now are some daytraders willing to stand-up and daytrade in public, live, and lead a discussion on daytrading.......

Any interest in being the *trader*
How many interested in following *live*

jog on
d998

 

[coyotte]

So all we need now are some daytraders willing to stand-up and daytrade in public, live, and lead a discussion on daytrading.......

Any interest in being the *trader*
How many interested in following *live*

jog on
d998

why bother?

just posted two and can't even get a comment

 

[ducati916]

why bother?

just posted two and can't even get a comment

Well simply because that is not really trading live is it.
Trading live goes something like this;

At Monday's open @ [pre-market] 8.45am I will be trading BIDU and will pre-present my strategy based on my analysis.

Open................
Now I enter Long 1000 shares @ $117.11 stoploss @ $116.50
Market trades.....................
Stopped out for loss of $XX
or
Market trades, sell at $120, profit $XX

While the market trades, questions can be fielded and newcomers to the insanity of daytrading will understand why a trade was taken & closed based on the analysis that was presented prior to market open.

Any takers?
jog on
d998

 

[SevenFX]

Hey Yogi,

I have read some of your posts and appreciated them, until now.

If you have a different point of view on the subject matter (Thread Title) why don't you respond with your technical or fundermental pov.

Attacking someone on this forum will only degrade the forum, and loose valuable members, not to mention other members that respect you.

IMO it is no 1 (one) members right to inhibit or restrict others from posting and sharing with the broader community.

The OP may be wrong, and you have a equal input to that, BUT not by discrediting them, or constantly disrupting thier threads with attacks, which I've seen this isn't the first one.

Yogi the sentiment towards your posts don't seen positive, and many seem to appreciate and respect the OP, so if your going to continue to disrupt or discredit ANY individuals.... I don't believe these posts will be welcomed.

SevenFX

 

[It's Snake Pliskin]

Can be far less dangerous the Position Trading --- no overnight GAPS!

What was dangerous about the trade I just mentioned ?

US price was around $au $3.09

Price opened @ $3.03 ---Bought @ $3.04 -- Stop @ $ 3.00--- Sold @ $3.09


SP has continued up --- but the profit locked in -- just wait for another oppurtunity if it arises --- Also running RMD (SHORT) for <= $6.30

Cheers

Coyotte,

I agree with Duc.
It needs to be told in advance or at least have a trade time posted.
Bought xxxxx at 10:51am for example, preferably with a post not more than a few minutes later.

Regards
Snake

Yogi,

Maybe we all should collectively ignore you

Tech,
Is there a restriction on the type of market being traded for this exercise?

 

[coyotte]

Sorry
Just presumed everyone on this thread has a live feed
it's 2.55 RMD would say it about to move
tighteing BB

 

[coyotte]

Must trade different to others?

I sort of treat it as betting during the course of a horse race

I have a mid-price and long/short around that

Hence the turnover

Wouldn't have a clue what I'm going to do next until there is a price move.


Cheers

 

[Julia]

Yes, EXACTLY Julia,

...... VERY, VERY insensitive comments and definitely
NOT the first time.

happy days

yogi

Yogi

My suggestion about ignoring posts you don't like wasn't directed at Tech any more than at you.

It's entirely possible to express your opposition to something without turning it into a vitriolic personal attack.

I'm unlikely to ever be a day trader, but do find reading about other members' experiences interesting and constructive.

Julia

 

[coyotte]

Post Times on this site are running 1 hour behind !

Cheers