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Lynx
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New to the forum

Postby Lynx » Wed May 16, 2007 9:31 pm

Hello to all, I just wanted to introduce myself to the forum and say that I am alredy enjoying being a part of it. Hopefully i'll be contributing something back to all soon. In the mean time good trading to you all.

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eudamonia
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Postby eudamonia » Wed May 16, 2007 9:44 pm

Welcome to the Pirates cove :)
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

scalperT
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Postby scalperT » Wed May 16, 2007 11:39 pm

Lynx,

Almost any question you have has been answered here already. Just do a search under "AAPL". All the rules and everything you need to know will be found easily.

You want to trade in the same direction as the 60 minute candle always. For the first opening fifteen minutes in AAPL, use the one minute candle charts, after that, you can switch to the 5 minute candle charts if you wish.

Use limit orders to get in at the start of the buy zone. I personally exit with market orders, but that is just me.

Hope that helps.

scalperT
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Postby scalperT » Wed May 16, 2007 11:53 pm

Sorry Lynx,

I was posting an answer to another new guy (ribs) and mistakenly posted it here. :roll:

In any case, welcome aboard.

Lynx
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Postby Lynx » Thu May 17, 2007 12:10 am

LOL, yeah, i thought it was a wierd welcome but thanks anyway :) glad to be on board.

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Patch
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Postby Patch » Sat Jun 09, 2007 6:44 pm

New and Season Pirates:

I just downloaded another ebay digital purchase from a site that is formated just like www.kreslik.com . This is a small part of quotes from:
http://www.goldenmoneytree.com/forum/vi ... php?t=1415
I do not endorse nor have a read much of this site, though I like these quotes.

Patch
In VA

Success Leaves Clues
Secrets of Master Traders

Victor Sperandeo
Famously known as Wall Street's "Trader Vic"

The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading.

Bruce Kovner
Has earned as much as $300 million in one year from trading

You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael [Marcus] taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money. Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I'm getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis. I never think about other people who may be using the same stop, because the market shouldn't go there if I am right. Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are willing to lose. If you personalize losses, you can't trade.

Michael Marcus
Turned $30,000 into $80 million

Taking advantage of potential major winning trades is not only important to the mental health of the trader but is also critical to winning. Letting winners ride is every bit as important as cutting losses short. If you don't stay with your winners, you are not going to be able to pay for the losers. In addition to not overtrading, it is important to commit to an exit point on every trade. Protective stops are very important because they force this commitment on the trader.

Jack D Schwager
Author "The New Market Wizards"

Trading provides one of the last great frontiers of opportunity in our economy. It is one of the very few ways in which an individual can start with a relatively small bankroll and actually become a multimillionaire. Of course, only a handful of individuals succeed in turning this feat, but at least the opportunity exists. A rigid stop-loss rule is an essential ingredient to the trading approach of many successful traders. Winning streaks lead to complacency, and complacency leads to sloppy trading.

Richard Dennis
Turned $400 into $200 million trading futures

When things go bad, traders shouldn't stick their head in the sand and just hope it gets better. You should always have a worst-case point. The only choice should be to get out quicker. The worst mistake a trader can make is to miss a major profit opportunity. 95 percent of profits come from only 5 percent of the trades.

Jerry Parker
Probably my best technique is not picking up the phone to close out a winning trade.

Bernard Baruch
Show me the charts, and I'll tell you the news. Have an opinion on what the market should do but don't decide what the market will do. Be happy with a percentage of the move.

Paul Tudor Jones
Turned $1.5 million into $300 million in five years

That cotton trade was almost the deal breaker for me. It was at that point that I said, "Mr. Stupid, why risk everything on one trade? Why not make your life a pursuit of happiness rather than pain?" I had to learn discipline and money management. I decided that I was going to become very disciplined and businesslike about my trading. I spend my day trying to make myself as happy and relaxed as I can be. If I have positions going against me, I get right out; if they are going for me, I keep them. I am always thinking about losing money as opposed to making money. Risk control is the most important thing in trading. I keep cutting my position size down as I have losing trades. When I am trading poorly, I keep reducing my position size. That way, I will be trading my smallest position size when my trading is worst. If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. There is nothing better than a fresh start. The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum possible draw down. Hopefully, I spend the rest of the day enjoying positions that are going in my direction. If they are going against me, then I have a game plan for getting out. Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are dead. I know that to be successful, I have to be frightened. Don't focus on making money; focus on protecting what you have.

Gary Bielfeldt

The most important thing is to have a method for staying with your winners and getting rid of your losers. By having thought out your objective and having a strategy for getting out in case the market trend changes, you greatly increase the potential for staying in your winning positions. The traits of a successful trader: The most important is discipline - I am sure everyone says that. Second, you have to have patience; if you have a good trade on, you have to be able to stay with it. Third, you need courage to go into the market, and courage comes from adequate capitalization. Fourth, you must have a willingness to lose; that is also related to adequate capitalization. Fifth, you need a strong desire to win. You have to have the attitude that if a trade loses, you can handle it without any problem and come back to do the next trade. You can't let a losing trade get to you emotionally. If a trade doesn't look right, I get out and take a small loss.
ENOUGH being a Yalie for me Back to the Sea. "What i can lose, i can win" "YES YOU CAN" - dragon33 -"Pick one method and one pair and stick with them until you master it. "The choice is yours - success or failure." TRO

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