Friday's market not quite interesting, an ugly chart trading day.
Did last minute trade and able to get back early loss.
Trade MNQU4 in the futures markets (chart is QQQ, similar pattern).
Friday's market not quite interesting, an ugly chart trading day.
Did last minute trade and able to get back early loss.
Trade MNQU4 in the futures markets (chart is QQQ, similar pattern).
Following are notes to be aware of when confronting the market
1. Don't impose will in the market. Trade what charts do.
2. Wait for the right timing/pattern to emerge. Don't manufacture trades.
3. Gad'm shit - cannot trade the market everyday!
4. Add to winning trades, not to losing trades.
5. Don't trade/send money to suicide mission.
6. Don't just trade for the sake of trading.
7. Market doldrums - 8:30am - 11:30am. PT (need to be aware of, market is taking lunch break)
8. Trade smarter not harder. Focus on the process.
9. Trade with an edge. Trade with sense.
10. Trade what you see.
11. Be accountable. Protect capital.
12. Be patient. Wait for the right trade setup.
13. Be consistent. Be selective.
14. Cut losses. Always put stop.
15. Job is not trading. Job is to make money.
In trading the market, impossible to buy at the bottom and sell at the top.
The best way to trade is 'in-between'.
There lots of ways to make money trading the stock market, and the opportunity to make money is always there.
The money is always there ready to grab it - if you know and learn how the market works, you can earn a living trading the market.
It's not about having much capital, it's about having understanding how to make trades with an 'edge'.
Edge is about the knowledge and understanding the market movement relative to the technical charts.
And having familiarity with the trading instruments will have an advantage - futures/stocks/cryptos/forex.
Once you develop a familiarity based from your own understanding, then you can have the edge.
Futures markets especially the indices preferably offers good opportunity.
They correlate the main charts below.
Futures markets especially the micros offers low margins and you can trade them with minimal capital.
Been trading for quite some time, on and off, through the years of self learning, I find that trading is all in 'yourself'.
Cannot be like those traders in you tubers and in the trading books - they're all 'myth'.
Even if you have all the ideas in trading and have much capital, but if you don't have the self belief and thorough examination of yourself - cannot be done positively.
All you will have is frustrations, denials, searching/researching of ways to become 'profitable', and 'become successful' - like those in the You Tube's - mind you, that will just be a dream (well - better to have a 'dream' than not to have one😏).
Have read a lot of books, name it and I have read them most if not all, including those 'scratch books' in kindles, they won't help, all you will get are just words/sentences/techniques/strategy/quotes, whatever - that will just leave you spinning around and continue thinking/implementing ideas you got/learned, not knowing you did everything, and for years, still chasing that 'that' dream someday you can make it.
Not ever, you cannot make it!
Unless you have that 'third paragraph' sentence of this post - it will just be a waste of time/money/effort - and you will remain 'gambling' your intelligent mind forever and you might get a 'divorced' notice from your princes/pals/love ones😝.