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02/04/18
17:08
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Originally posted by kennykoala
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Hi, there hasnt been much written in reply to your questions so I thought I may jump in. Personally, over the past 10 years there has been a significant change to the way I day trade. The shares just dont seem to run on good announcements like they used too and even on great announcements they often get sold into and sometimes sold off totally. We all know why so won't get into that. It does make it hard to daytrade and pretty much leaves it to pull back trades throughout the day. I dont consider myself a great trader (still so much more to learn), but I do make my living from the market trading. In saying that, I find that there are a few companies thru the year that do get rerated at some point, and it is thru capitalizing on these that I can make enough to get thru the non performing times. I have not made a great trade in the last 4 weeks but I also know that by biding my time ,the right trades will turn up again. Sometimes less becomes more. As for the forum chat, I use it for entertainment and comradeship only, and I am not on twitter so do not know what goes on there. It is best to block out distracting noise from your financial decisions. I hope this helps. Oh, and the market has definitely become harder to say trade, it is more short to midterm on the speccies. JMO Cheers.
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Hi @kennykoala
Thanks so much for your answer - it's frank, honest and perceptive.
If you are making a living trading, you ARE good at it!
Re social media: while I haven't followed it for trading purposes, I think that a line from the movie "white men can't jump" sums it up pretty well, "You either smoke, or you get smoked". And if you don't know, you're probably getting smoked.
Thanks for your insights.
MFx