This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Last week I tried trading without my training wheels. I removed everything but volume, and tried to determine what the market was doing. I had mixed success, but didn’t blow up or anything.
On Thursday I was searching the net for information on the Darvas Method. I ran across one of the more thoughtful posts on ET.
To quote Duref Mudgins, “NOTHING FUCKING WORKS ALL THE TIME. WHEN IT WORKS, YOU USE IT. WHEN IT DOESN’T, YOU LOOK FOR WHAT IS WORKING.”
The main reason the training wheels worked for me was that it kept me on the right side of the trend. So this week, I did my best not to fight the trend. Let’s see if next week, I can do a better job of riding it out.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
October 29th, 2007 at 8:02 am
NOTHING FUCKING WORKS ALL THE TIME. WHEN IT WORKS, YOU USE IT. WHEN IT DOESN’T, YOU LOOK FOR WHAT IS WORKING.. If something worked all the time.. there would be no one out there to teach us how to trade cuz they’ll all be succesfully trading. :)
October 29th, 2007 at 11:03 am
LOL…absolutely
October 30th, 2007 at 1:20 pm
Great thread, BAT! He describes 4 or 5 different ways to play the markets. How do you tell which one is currently happening? It seems like you have to anticipate in order to deploy the right strategy. A trend isn’t a trend until it is, and then it doesn’t end until it does. If you’re playing rangebound, you’re wrong. Then if you switch to trend when the markets go rangebound, you suck again. That’s my ultimate question–how do you tell a trend change from a short retrace, and not after the fact?
October 30th, 2007 at 3:24 pm
prospectus: i wish i knew…personally, i think the answer may just come through experience, and not indicators — although the ones richard is using seem to be working right now…for now i’m just limiting the number of trades i take, and taking a shot