Simplify Your Trading As Much As Possible

[TopstepTrader 10]

To be a profitable trader, you don't have to master every technique in existence. There are many different strategies and styles of trading and there are many different financial instruments you can trade. We trade futures, among which you can trade equities (the S&P mini's, the Dow mini's or the Nasdaq mini's), you can trade currencies or debt (bonds & notes), or you can trade commodities such as oil, corn, and natural gas. Each style of trading can be different and each futures product trades in its own way. The key point is that you need to find a trading strategy and a specific product that you are comfortable with and that fits your personality.

 

I have read extensively, and several authors have said that the best traders they know only trade one or two products using one or two strategies over and over. Those traders have come to know that specific type of contract so well in every market condition, that they experience almost a Zen-like awareness of what that market is likely to do next.

 

Author and renowned trader, Larry Williams, said he only has a few strategies (around 5 if I remember correctly) in his bag of tricks that he uses to profit from over and over. Therefore, using your time at TopstepTrader should be considered a search for a strategy and a product that works for you. It is true that there are lessons in common that all traders need to learn, but you only need one strategy with one product that works consistently for you to have a profitable career. Finding that strategy and product and then producing consistent results will take time and effort, but is ultimately what you should be working to accomplish.

 

Most traders I've talked to took at least a year to learn it, so don’t think it will come quick and easy. Some trader-authors even say it took them several years to become consistently profitable. We are smart enough to recognize what professional traders and experts say; therefore we need to understand that it can be accomplished if we are willing to put in the work. Trading doesn’t have to be a solitary thing. We need to be open to learning, listening and communicating with others as this serves to help us better understand ourselves as well as the dynamic of the market and how to achieve long term success. This is the essence of the TopstepTrader community. Use this to your advantage and the rewards will certainly come.

 

 

Many Profitable Returns,

 

 

Trader Gregg

 

Mr. Killpack has been studying the markets since 1988. He has read over 40,000 pages about trading and investing strategies, fundamental and technical analysis, and related topics. He began day trading in 2001.

[Mikhoul 10]

I Agree fully,

 

I begin to trade full time 1 years ago, and 1 1/2 years ago I had no idea at all of what was day trading and even don't know the signification of Bull or Bear !

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So to make a Short Story: I began on my own to trade with "simple" strategy, taht I even don't know they exist and have their own name... ;-)

 

The firs was to look at Stocks that drop fast and deep on a "news" & learn about the company if the move is rational or emotional. So when it was emotional I bought the stock and sell right after the emotion fade as the stock comeback... 2 months ago I learn it's call "momentum" Hahahaha !

 

So I was successful and make lot money of money... but I was using a "Full-service stock broker" so each trade cost me $350-500 Cdn for ONE in&out, but I was happy since I made lot of money, and don't know how much charge a "discount broker" for a trade.

 

So when I was ready I moved my asset to a discount broker to have bettr price and not having to call my broker each time I want to do a trade... So I go with TD to transfer my all my asset since my "test" to know if I can make a living of "Day Trading" was successful.

 

He ask me what was mt return on investment ? I told him since 6 months (Test period) it was an average of 10-15% by years, he says me WOW !!!! And ask me about how I achieve such result... I told him about buying low when peoples was emotional about a stock and as soon the fears fade away and stock recover.

 

So I used this "strategy" 70% of time.. Of course since that time I educated myself by the net and forums like this one... I've learn about options ( I know a lot about the strategy with options involving Greeks) but never used option at this time. But I know they are there, and what I can do with options, how to use them so if I found that using it could maker me more successful I will use it... for me it's just one more tolls to use.

 

But I use the tools I'm good at... and the ones bring money, since it's the primary goals.

 

Recently I learn about shorting and margin cause I see that I can make more money when stock goes down... since some stocks have trends for more than one years of going down, there is "almost" no risk since I know clearly the trend and what the company need to reverse it.. from my point of view it's safer to go short in many case tan going long...

 

Since I have almost no formal education, I've see I don't have the same approach to the market that most trader have. I never used "Pre-fabs Strategy", so in my mind I'm not limited to what already exist, I "create" way of making money with stocks.... and use few strategy, also I use only the most efficient way to make profit.

 

There is lot of money to do with the options, but for me using "real share" is more simple and efficient as of now.

 

So I'm successful in trading and living of trading, and using only few and simple "way" (read strategy) to make money is more efficient than reading Zillions of parameters to analyze the market and over-analyzing everything... I chosen to make money in a more efficient way and discover at the same time that some peoples are taking more time in "Making" strategy than trading...

 

So Keep it simple and Stupid ;- ) KISS !!!

 

 

So the only strategy I use is -- >