Short Term Trading Weekend lounge 2nd-4th Dec, page-201

Ye I went FT a year ago, I was so fresh and in hindsight I had absolutely no idea what I was getting myself in to or what I was doing for that matter. I used to mainly trade from my phone for the first few months while travelling and enjoying being "self employed/unemployed". Ironically I had my best week trading in my first week FT, and it was almost all off of my phone, thanks to NOR and NSL. Gave me a false sense of comfort I think. I gave back almost everything I made on NOR on DUO/ZYB. Was a real eye opener and I learnt a lot about what constitutes a good trade setup from that (management is so important). The past year has been tubulent to say the least but I've managed to keep my head above water....just. I have style hopped like you wouldn't believe, trying to find the strategy that fits my personality, goals and lifestyle. It's been real. Lately I think I've found my niche, I honestly now believe/agree that every trader needs to find their niche and become an expert at it. What is the perfect strategy for one person may be a terrible fit for another. Experimentation seems like the only way I guess. I have learnt so much from you all on here, I couldn't have done it without you, that's a certain. I have tried to emulate the strategies of many of the successful STT'ers and while I can clearly see how they work I wasn't always able to replicate the success. I realise now I'm too impatient and undercapitalised to run a strategy like @minoil @forrestfield @Sector Lead hunting for value and anticipating the next strong sector despite spending a long time studying and learning your ways and actually getting quite good at it. I would tend to get bored with the "sleepers" sitting in my account and I'd sell them for beer money only to see them explode a few weeks later. The strategy itself is amazing and the "bag potential" is unrivalled. I have had more baggers doing this than anything else but I don't have the capital or patience to park go big enough for it to provide a FT income. To anyone starting out and wondering how to find stocks/investments/trades I suggest working backwards. Find one that you wish you were on and then study it to work out how you could have identified it before it ran. Study the methods of the traders here that were clearly on it from the start. Find someone that you feel their strategy fits your lifestyle, personality, desire and then study them. If you really sit there and think for a minute you will easily start to identify ways of finding the types of plays you want to be on. So by studying my past trades over the last year and mapping where my success and highest points of motivation were I managed to work out what niche fit me best. Seeing I've rambled on about it, I've discovered that I like to technical trade the stocks in play, basically I use pure TA (mainly VSA/Wyckoff methods) to trade the hype part of a specs lifestyle. I like the feeling of the wind at my back, the stock is constantly moving, big volume, and for the most part a clear direction. However, with big volume and trader interest can come sharp corrections and I have been caught holdings the bag more times than I'd like. I studied VSA hardcore and now I feel Im better in touch with what's happening on a chart and I don't get caught out as much (although I just got caught in the false break of 4DS at 4.3 and I sold RMX for BE at 2.4 because I didn't like the lack of demand).

Ohhh what a tangent, but I've written too much to delete it now lol. I know a lot of people read this that don't post and most are like me, new traders trying to find their niche so I hope my ramblings help even one aspiring trader.

This post was supposed to follow on from one about about someone trading on their phone and then tie in to why I'm now asking for advice on a 4 screen setup. Well I guess I kind of covered it in a round about way.

While I'm pouring it all out I'd like to really thank all the regulars, from the hardcore researchers to the pure TA gurus, you've all helped me get where I am and continue to do so, both from your direct posts and indirectly from studying your ways. I'm looking forward to year 2!

Moral I guess is that everyone has their niche out there somewhere, you just have to find the one that suits you.