1. Good technical analysis ability
2. Great sense of mkt moves
3. Understand the relationship on various mkt actions
4. Knows how to control emotions
5. Knows when to be aggressive, when to just give up, knows how to protect ourselves
6. Know what mktMM and normal average traders are thinking, and use those "common sense" to win over them.
- 学作股市滑头
- 炒股一则是炒心态，另一则就是炒技术
- Topic on trading techniques (1)
- New Year Rules: Time Tested Classic Trading Rules
Trading rules
http://www.cnbc.com/id/28390714
http://stockcharts.com/help/doku.php?id=chart_school:trading_strategies:richard_rhodes_tradi
http://epowerage.com/tradingrules.aspx
http://www.thestockbandit.com/TradingRules.htm
http://www.stressfreetrading.com/Article-on-Stock-Market/stock-trading-rules.html
http://www.amazon.com/s/ref=nb_ss_b?url=search-alias%3Dstripbooks&field-keywords=trading+rules
Key points:
(a) Position Control: Account size and positioning to control the risk, there is NO mean to "all in".
(b) Entering Rule: (i) Reward/Risk=3:1; (ii) Obvious TA long and short signals
(c) Set Stops: Depends on your time frames, set DT or swing position stops at support (long) and resistance (short)
(d) Exit Rule: (i) Move stops and let it run; (ii) Take profit on extrames (10% for a few minutes, 20% in a day, too good to be true, can't believe trading is so easy......, when that happens, remember take profits, Trading is simple, but not easy, it is never wrong to take profits.)
Key points Again:
(a) 必须遵守纪律
(b) 必须做好功课
(c) 戒慌，慌者乱，乱者输
(d) 戒贪，不要急于想发大财，每天赚$300, 一年就是7万5千
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A credit 理念 for trading account management
(a) 25,000 for example your first 5% is: 25000*0.05=$1250, so you only have $1250 to mess up. Any position you plan to enter, need calculate the maximum loss limit that can not exceed $1250. For Example: You want buy XYZ at $40, and you know the risk of XYZ is it can go $35. with $1250 in mind, you can only buy 250 shares of XYZ. After you enter XYZ at $40, you can NOT enter any other position until the XYZ trade complete. Because you do not have extra credit!
(b) Assume above trade ended with you sold XYZ at $42, you got 250*2=500 profit. Now your account is $25500, You now have $1275 credit that you can mess up with.....
(c) Assume a few days later, say your acct grows to 27,000. NOW reset your credit above your original investment. Now your credit is $2000. This makes sure your account remains positive. You are NOT allowed to mess up more that your credit!
(d) Ok, Back to (a), what if you loss? Your first trade made you loss 1250, now your acct becomes (25000-1250)=23750, your next trade credit=$1188. If you made another trade and lost $1188 again. STOP trading for 3 days and figure out what you did wrong.
This method enforces discipline you need to start. It keeps remind you YOU DO NOT ALLOW TO LOSS MONEY.
This method, your account grow slowly at the begining, but with winning trades starts grow, and your skills and confidence grows as well as .your credit.
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Paltalkroom: qqqllc
Time: 8:30am-10am Pacific Time, 11:30 am-13 pm Eastern Time
2009
- 6/6 Sunday TA class: stucked? can not sell?
- 5/17 Sunday TA Class Prep
- 5/3 TA Class
- 4/26 Sunday TA class
- 4/12 TA Class Prep
- 4/5 TA Class Perp
- 3/29 TA Class: What we had and what we are looking...
- 3/22 Short Sunday Session for MKT Overview
- 3/15 Sunday TA class Prep
- 3/8 Sunday Class
- 3/1 Sunday TA Class Text and MP3
- 2/22 Sunday Class Summary: Text And Audio
- 2/8 Q&A Session
- 2/1 TA Class Prep
- 1/24-1/25 Weekend Discussion and Renko charts buy and sell signals
- 1/11 TA Class Prep
- 1/4 TA class
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