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Morning Trading August 13, page-54

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13/08/24

10:52

Post #: 75181614
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Originally posted by Endless ↑

Hey Krano. I did notice you getting onto the popular stock bandwagon and getting a bit carried away with the 'potential' of various hot stocks. That method (stock picking) doesn't work in the long run unless you have a lot of luck and then stop trading.

To win at trading you have to ruthlessly stick to the plan and just make incremental gains.

If you do have a really big win you have probably done something wrong. lol

Old jungle saying: The psychology of trading is written in the chart.

Btw. Like a few others I'm also looking for a different approach. It's not like the good old days.

My suspicion is that many new traders turned up when on-line trading began and they have slowly lost their capital. Combined with new computer trading and brokers joining in, the margins have been killed.

There's still $$$s to be made but discipline is more important than ever.

Good luck out there team.

PS: For whoever asked yesterday. You can easily see if bots are trading by the size of the trades.

$1.45 worth of buys is a sure sign. But a stream of hundred dollar size trades is a giveaway.

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