I am documenting some stuff about trading at the moment and because I have explored so much and do it everyday, it's tough for me to get a top level view. So, I am keen to look at some basic key questions and want to put some structure into it. My question to the forum is can you come up with a, sensible, list of key questions? I am thinking of things that are key to know for trading. For example: -
What direction are the odds going?
How volatile will the market be?
What is my likelyhood of loss?
What is my potential upside?
When should I enter the market?
When should I exit the market?
What stake should I use?
Key questions?
How important is WOM?
When to recognise the need to make an exit for a loss?
When do I vary my trading tactics from scalping to dutching etc?
Is studying form important?
Are bookmaker's price changes a good guide?
What's the ideal set up with regards to equipment?
When to recognise the need to make an exit for a loss?
When do I vary my trading tactics from scalping to dutching etc?
Is studying form important?
Are bookmaker's price changes a good guide?
What's the ideal set up with regards to equipment?
A few random ideas:
Is trading an art or a science?
Who would win in a trading contest: a top bot or a top human trader?
What's the key to getting large volumes of money through the market?
Do you have any tips for bookmaking?
Do you recommend trading horse markets hours before the off?
What's the best way and time to scalp football markets?
Do you ever bet rather than trade?
Do you ever trade in-play without watching the event live, and if so how?
Can you suggest a safe and simple technique for beginners to practice?
What are the most common patterns of behavior you see in markets?
How far do you let the market move against you before closing for a loss?
How do you trade markets that are jumping about all over the place?
What's the best technique for scalping?
How do you predict what direction the market will head in?
What types of market do you avoid?
Jeff
Is trading an art or a science?
Who would win in a trading contest: a top bot or a top human trader?
What's the key to getting large volumes of money through the market?
Do you have any tips for bookmaking?
Do you recommend trading horse markets hours before the off?
What's the best way and time to scalp football markets?
Do you ever bet rather than trade?
Do you ever trade in-play without watching the event live, and if so how?
Can you suggest a safe and simple technique for beginners to practice?
What are the most common patterns of behavior you see in markets?
How far do you let the market move against you before closing for a loss?
How do you trade markets that are jumping about all over the place?
What's the best technique for scalping?
How do you predict what direction the market will head in?
What types of market do you avoid?
Jeff
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manonthemoon
- Posts: 37
- Joined: Mon May 04, 2009 4:48 pm
A few more based on things I'm still getting to grips with:
KNOW WHEN TO HOLD 'EM / FOLD 'EM
In the words of the great Kenny Rogers...when to bail on a steamer and look for the reversal, and when to do likewise for the drifter. Tell-tale signs that might signal it's time to leap off and most certainly not time to get on.
THE ART OF SCRATCHING
Particularly the psychology of scratching...why it's so important and why the heart often rules the head when it's obviously time to scratch instead of willing the price on and thinking the market will respond just to make you happy.
TOO MUCH OF A GOOD THING
There are so many chart combinations available that one can get carried away. A horse owner once told me that if you see a horse poop in the paddock before a race, put something on it as it will be a few pounds lighter! Do we need a chart for that?? What chart data is vital / essential and what just looks pretty and can be done without?
Thanks
KNOW WHEN TO HOLD 'EM / FOLD 'EM
In the words of the great Kenny Rogers...when to bail on a steamer and look for the reversal, and when to do likewise for the drifter. Tell-tale signs that might signal it's time to leap off and most certainly not time to get on.
THE ART OF SCRATCHING
Particularly the psychology of scratching...why it's so important and why the heart often rules the head when it's obviously time to scratch instead of willing the price on and thinking the market will respond just to make you happy.
TOO MUCH OF A GOOD THING
There are so many chart combinations available that one can get carried away. A horse owner once told me that if you see a horse poop in the paddock before a race, put something on it as it will be a few pounds lighter! Do we need a chart for that?? What chart data is vital / essential and what just looks pretty and can be done without?
Thanks
Just came across this article on chocking in sports:
http://news.bbc.co.uk/sport1/hi/front_page/13185266.stm
It made me think - why not include questions on the psychology of trading, such as:
How do you prepare yourself mentally for trading?
How do you cope with a bad spell?
What's the best way to build up confidence in your ability to trade?
What mental qualities separate good traders from bad traders, and great traders from good traders?
etc.
Jeff
http://news.bbc.co.uk/sport1/hi/front_page/13185266.stm
It made me think - why not include questions on the psychology of trading, such as:
How do you prepare yourself mentally for trading?
How do you cope with a bad spell?
What's the best way to build up confidence in your ability to trade?
What mental qualities separate good traders from bad traders, and great traders from good traders?
etc.
Jeff
-
superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Has the 'real' money arrived yet?
Is this a genuine move or trader's bluff?
Is this a genuine move or trader's bluff?
I saw that too and bought the book out of interest. Not sure if I will find anything of use but worth a look.Ferru123 wrote:Just came across this article on chocking in sports:
TBH some people develop a decent mindset early on and others have to discover it. I used to think that PMA was all BS but then I discovered that its really the ability to see opportunity where others see none. So I underwent a big shift in mindset at that point. It just changes you view on the world.
People with negative mindsets miss the most obvious opportunties. I've seen very intelligent and skilled people do really daft things and miss blindly obvious opportunies. Sometimes the chance of a lifetime. Just because they can't see the obvious opportunity.
I have seen how this affects trading first hand. You give exactly the same instructions to two people and they can both execute them entirely differently despite working from the same sheet. It's all a bit odd but ultimately can be rooted to the process of what path you take on a coin toss and how your environment shapes you. Glass half empty / half full.
What is the best way to learn how to trade for serious money?
I have thought about revealing this for a while now.
So far no one on the forum has picked this up from my posts.
I will give you a clue though... you won't simply find the answer on this message board.
Question to PW... Why do you allow vulgar language on the forum. This is the single biggest reason why I don't contribute so often.
SO why?
I have thought about revealing this for a while now.
So far no one on the forum has picked this up from my posts.
I will give you a clue though... you won't simply find the answer on this message board.
Question to PW... Why do you allow vulgar language on the forum. This is the single biggest reason why I don't contribute so often.
SO why?
I think your answers to that question are contained here:Quinny wrote:What is the best way to learn how to trade for serious money?
viewtopic.php?f=5&t=437&p=2292#p2292
and here:
viewtopic.php?f=17&t=1796&p=11469#p11469
I disagree with you about taking a loss. Taking losses is part of trading, and needs to be accepted. I know a highly successful trader who only makes money on 1 in 4 of his counter-trend trades, but the losing trades are more than compensated for by the winners...
Jeff
PS Euler - Whilst looking through Quinny's posts, I came across this question, which you might want to add to your list (for those people who don't want to spent hours going through hundreds of pages of your blog, enjoyable a read though it is)
:viewtopic.php?f=6&t=3741&p=25473&hilit=+blog#p25473