drk1t

I use indicators, I use them a lot! One thing leads to another. Find the buttons and levers and how the indicators tend to move what ever it is you are trading and you will have an advantage. I keep harping about multiple windows and screens get them and use them!

Sounds like some of you are looking for the holy grail of trading again. I'd love to have a box (software) that you just turn the crank and out comes the cash but it hasn't happened yet and I don't think it's going to. The markets change to much. What moves it today isn't going to do it in the same amount and the same way tomorrow. All I see in this magic software is another level of work and confusion. Instead of using our human brain for basic primary decisions I see it being used for making decisions of factors that may or may not make a difference, and those factors my change from plus or minus and in varying degrees. Gosh, I can programs to make programs just to establish values to put into trading software. The market is the market because of the human nature, when you can plug in all 8 billion people and their thinking at the time automated systems might have a chance. All this said, if anyone has one that works and will always work, let me know! I'd love to go drink beer and know the old computer is cranking out cash. Right now I'd settle for a program that would automatically do my taxes, use creative credits and deductions, print out receipts for them and guarantee I'd stay out of trouble with the IRS.

Bored? There's always porn until the markets start moving again.

Thought process? For me, I totally focus on the charts and numbers, bid/ask and the volumes of the bid/ask. There are only two things I can totally get focused on, the markets and chess, well maybe a pretty woman but that's another story. Anyway, I watch the charts, outside indicators (more charts) and when the setup looks right to me I'll enter the numbers and punch enter and then watch it, if things work out I hold until it looks like it's done, that might be minutes or most all day, towards the end of the day I decide how much to risk by holding overnight. Lots of variables and they are always changing, like in chess. Outside indicators, bid/ask, volumes, tend lines, support/resistance, breaking news, commission costs, partial fills, over head costs and lots more, all these factors fall into what my brain thinks is a buy, hold, sell at any given time. I don't think anyone would approve of my system but the bottom line is out performing the market and thus far I've been able to do that. It's all about risk and reward. When I think things look right I buy, when they no longer look right I sell. What am I thinking when I enter a trade? Usually that this stock looks like it ought to start moving up. When I sell, you guessed it, this stock ought to start going down, or &^%$ that didn't work out, better sell let it drop down more and maybe try it again in a while. I don't really think all that positive or negative about a position, it's just a position, it's what the stock does after I buy it, and then what I do with it as it makes it's move that matters.

The number one reason for small businesses failing is lack of adequate capitol, I'd guess the same reason for traders. If a person can stay in the game long enough they have a much better chance of learning what works for them. If it was easy everyone would be doing it, or perhaps I should have said, "still doing it".

I don't know about the UK, but in the USA there are different tax rules to consider. A lot different. Basically it must be a full time occupation to change to trader status. For those in the USA Introduction to Trader Status

What to do tomorrow? I wish I knew for sure, but I don't. From the reading I've done the dollar my drop further, and it may drop a lot further. So I'd guess someone will try to make it an orderly decline which might cause it to go up...... In other words trying to anticipate what the dollar will do will do might be an act of frustration. I trade gold stocks and they usually move against the dollar. I loaded up on Friday and we will see how it works out. Most think the dollar will go down and the market has a nasty habit of making fools out of the most. But I'm playing a weaker dollar for now. This is pretty much in line with what most are saying about the dollar, http://www.nytimes.com/2006/11/25/business/worldbusiness/25dollar.html Good luck to everyone.

TA seems pretty valid to me, I watch the charts, the trends are established, then the stock breaks the trend or it doesn't. That's about it in a nut shell. You can watch the level II and see the bid and ask volume change as it nears the R&S barriers, if it goes through then it's a new ball game until a new trend is established. Think of it like poker, you are delt a hand and then decide what might be best to do with it, same thing when you buy a stock. Some stocks I follow will drop about a certain amount and present a buy or get ahead of themselves and that's a sell, usually, sometimes etc. I look for leading indicators for the sector to help me decide. Then there is Buffet..... if I had his brains and intuition I could be an investor instead of a trader.

Both! Like asking which is more important the heart or the liver? I enter a position only because it looks like there is potential to make enough to justify the cost of trade (in and out) and enough to justify tying up the capitol for the time I'm holding the stock and hopefully to make enough to more then make up for losses and keep the lights on another month. I think in terms of percentages and if a trade is going my way I'll let it run sometimes, sometimes I don't, it just depends on what else is happening at the time, once again a percentage of the amount of capitol tied up and at risk. I also will hold over night if I think circumstances justify it. So all in all, I guess the entry and the exit are of equal importance to me.

My two cents, at this moment and subject to change every 10 minutes..... The democrats will take the election and this will spook the markets. I look for the democrats to start investigating excessive profits of corporations and excessive pay of excutives. I also look for something to be done about the way the USA has accumulated such a massive debt, basically using the national debt to balance the deficit. But I trade and don't really care what the market does as long as it does something, and it will. All in all as long as we can rob Peter to pay Paul the USA economy will look good, but someday the piper will be paid one way or the other, I'm guessing with inflated US dollars..... Bureau of the Public Debt : The Debt To the Penny

The Secret? I'll tell you if you pomise not to tell anyone. It's,..........................................................................................................................................buy low, sell high.

Six year ago.

Monitors aren't that expensive any more and they are getting cheaper all the time. The stands to hold them? Now that's where I ran into problems, it was going to cost more for the stands then the monitors! So I wound up making my own. I also put the computer together. I'm 58 and need larger print any more, those days of reading small print are long gone for me so I wanted some monitors that could better display the information I need. Here is one of the best sites I've found to get some ideas of multimonitor setups. Click the Gallory for ideas. I've thought about getting a couple of wider monitors for one of the stands to display more information. I really ought to have a better back up system. Always something...... Here is an excellent site for multi monitors. Multiple Monitors.Org - Home of Modular Multiple Monitors, Multi-Displays, Multi-Monitors for Desktop - Video Wall Applications

I'm curious what most home traders use for their computer trading set up. I have a home made set up. Cable modem, main computer has two video cards with multiple screens for a total of 8 monitors. Winxp OS a comfortable but getting worn out chair. I see active trader commercials and the guy is using a laptop with one screen? I wouldn't dare try trading with less then two screens except for an emergeny backup to get out of positions, maybe? Anyway this is what I have. AMD 3200 processor 512 of ram (yea I could use more, I gotta get around to getting it) Two 4 head video cards matrox Cable modem 8 19 inch LCD montitors Homemade stands for the montiors so they fit close and angle properly and make viewing easier Standard keyboard and optical mouse The two things I consider most important is stability and comfort A TV sits to the side so I can watch the news CNBS or whatever, the sound is usually off but I kind of watch it at times for the news. I often just play music and watch the screens and do the trades, actually it's more like wait to make the trades. Reminds me of fishing kind of sometimes. Anyway I'm curious as to what computer systems most people use and I'm open to any suggestions. I enjoy reading the forum, Thanks, David