Back from a nice day in the sun, now doing some reading.
So, some of you are going to get into the religion/evolution discussion, eh? Good luck with that - will not end well, guaranteed. I have never ever seen anyone who has said, "hey, that's a great argument, I will now change my mind about it." Nope, will be all empty ego and people calling each other "Hitler" within 24 hours, lol.
Anyway, I liked the earlier discussion about different trading styles. This past 3 months has been terrific for me, since I've had to re-think my approach as I no longer can DT.
For me, with my particular circumstances, being a ST/MT trader is just what I'm looking for: minimal stress because of the extended timeframe. It is pretty boring much of the time. I'm picking my stocks, putting in conservative entry prices and waiting. Since I no longer have to create a regular income from trading, I can now hopefully start accumulating some funds in my trading account.
I have far fewer trades, but the results have been better, much better.
I could say, for example, that my success rate since I've been a ST person is 100% with an average profit of 38% - and this would be true.
But, as Mark Twain was meant to have once said, "there's lies, damn lies, and then there's statistics."
I've only completed 5 trades in about 3 months. I hold a few which are "yet to have their run" (in other words, I'm in the hole with these dogs, looking/hoping for a positive announcement to spike the SP). I hold one other, NSLO, which is up about 4 bags right now but I'm holding. I'm also holding AAJ and GMR which I will sell in profit, and am looking at SYA/O for an entry this week.
All very encouraging.
The point is, though, that this wouldn't pay the bills since I have little money to invest. So the percentages look great, but in real dollars it ain't so much. What I do know now is that this is the type of trading which I intend to follow when I eventually retire - I will be trading with a timeframe up to 12 months, but mainly looking for a result within about 1-3 months. Like @tradesurfer and @speckledjim1 I'll be picking my targets and waiting, but unlike @speckledjim1 I won't be waiting for longer than 12 months - different strokes for different folks.
I have profound respect for the people who can DT successfully, but I know that I will never be one of them, or want to be - I've had enough stress in my life. It's time for me to chill a bit.
DKO is looking interesting again, I think. Could we be seeing some stopping volume of late? I'll be watching the next 2 daily candles with interest.
All the best for the coming week, whether you think we are clever monkeys or not
