Why Simple is better in trading and Complex is not
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These are my thoughts on trading and see if we get some fire works lol.
But lets everyone be nice lol
Man I love FF so much junk on trading I think trade should be
To trade keep it simple
1. Find a trend-
2. Find a good stop - whatever you like - S/R S/D "OO" & "50" the other side of a 50, 100 200 MA whatever.
3. Find a target - whatever you like - S/R S/D ”OO" & "50" the other side of a 50, 100 200 MA whatever (I like it on a higher time frame)
4. make sure you have a good RRR
I like 1 to 4 so I can target 3 to 1 and if things change I can take it off at 1 to 2 and feel like a winner or better let it run.
5. Only trade in tradable times. Best 2am to noon est. or if you are trading on day chart NY close - 5pm est.
6. Find a trigger - The least important part of trading - my triggers keep getting simpler and simpler.
7. Put on your trade and take your chances. After that it’s a crap shoot
8. Set and forget ( I check 2 or 3 times a day) less is more in trading
RUN RUN RUN fast from anything else
The more the tools the worst it is
Ie. More than two tools ie Macd. MA, RSI etc.
And I will tell you why because if you get complex you are fighting head to head against the super computers who work 24/7
and you will lose big 95% of the time!! And they are looking for you! People complex "up" because they think it gives them more control in fact it’s less.
The two things we can do better than computers are (1) simple (2) follow what they as the big boys are doing.
We cannot be the well trained bank elephant but we can be the flea on his back. ( LOL)