Educational: Two ways to take from the markets
Of course there are many ways to take chunks out of the markets. Hundreds of methodologies are out there. And the markets are experts at taking chunks out of you and your account.
In the 4.5 min video I briefly show two types of 'attacks' on the market:
1 - Strategic
2 - Tactical.
Strategic
In the strategic approach (which could be any methodology), you plan very carefully over days. You're a 'sniper', hunkering down in the bush - you make very few movements - you're watching the enemy and waiting for best conditions and opportunity. You suffer sleepless nights. You suffer cold wind, rain, snow, muddy rivers, insects biting you. (These are the scenes from the movies and in realty that are well known - I'm NOT promoting violence or war).
And despite all that, you endure. When it's right, you fire one shot! Your 'kill rate' is so good, that one shot is all you need. So the above analogy in market terms, is similar - waiting planning, suffering, and watching those charts, for that one high precision trade.
Tactical
Right - in this scenario you're at the frontlines doing hand to hand battle with the enemy. You are loaded with armaments, and you use whatever you need. Look - frontline battle is battle - nothing nice about it. In market terms, this is where you get down and dirty - that's why it's called scalping! In scalping you're making short term moves. You're not planning an attack - you're attacking. The enemy - the market - is there to take your heart out (aka your account)! It's either you want to be in that sort of battle or not. But if you're there, you have to have the right knowledge, skills and experience - else you'll be taken out.
Making the money
The money-making is not in the methodology - it is all about you! If your 'knife' doesn't work well, you're to blame. Don't blame the charts or the tools you use.
Can you be both a strategist and a scalper? Of course you can. There is no law saying that a trader can't be both.
Conclusion
As a knife when used carefully can create good things, using it the wrong way can be dangerous to your safety or that of others. How you use the tool, is a matter of skill and experience. Are you fit enough? Do you have the right knowledge, skill and experience? Avoid the Dunnnng-Kruger effect as applied to traders (for reading about on the net).
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
In the 4.5 min video I briefly show two types of 'attacks' on the market:
1 - Strategic
2 - Tactical.
Strategic
In the strategic approach (which could be any methodology), you plan very carefully over days. You're a 'sniper', hunkering down in the bush - you make very few movements - you're watching the enemy and waiting for best conditions and opportunity. You suffer sleepless nights. You suffer cold wind, rain, snow, muddy rivers, insects biting you. (These are the scenes from the movies and in realty that are well known - I'm NOT promoting violence or war).
And despite all that, you endure. When it's right, you fire one shot! Your 'kill rate' is so good, that one shot is all you need. So the above analogy in market terms, is similar - waiting planning, suffering, and watching those charts, for that one high precision trade.
Tactical
Right - in this scenario you're at the frontlines doing hand to hand battle with the enemy. You are loaded with armaments, and you use whatever you need. Look - frontline battle is battle - nothing nice about it. In market terms, this is where you get down and dirty - that's why it's called scalping! In scalping you're making short term moves. You're not planning an attack - you're attacking. The enemy - the market - is there to take your heart out (aka your account)! It's either you want to be in that sort of battle or not. But if you're there, you have to have the right knowledge, skills and experience - else you'll be taken out.
Making the money
The money-making is not in the methodology - it is all about you! If your 'knife' doesn't work well, you're to blame. Don't blame the charts or the tools you use.
Can you be both a strategist and a scalper? Of course you can. There is no law saying that a trader can't be both.
Conclusion
As a knife when used carefully can create good things, using it the wrong way can be dangerous to your safety or that of others. How you use the tool, is a matter of skill and experience. Are you fit enough? Do you have the right knowledge, skill and experience? Avoid the Dunnnng-Kruger effect as applied to traders (for reading about on the net).
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Comment:
I wasn't satisfied with the early response. Took a small chunk north then reversed.
Comment:
And now both the DAX and USTech are off to the races.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
