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Conseils / tips de trading (anglais)

par Tamtam » 27 sept. 2020 23:20


Je voulais vous partager quelques conseils globaux sur le trading que j'ai recueilli à droite à gauche sur des forums et podcast, je complète et relis ce fichier de temps à autre, ça peut peut-être aider certains débutant

Je vous invite à m'en partager si vous en avez d'autres :

- Closing trades randomly or based on money (P/L) is not ideal, use the charts instead.
- Register the performance for a set of rules for later self-reflection and analysis.
- Focus and practice what you are good AT.
- Be selective and quick when trading promotions.
- Refusing to cut losses, leads to BIG losses.
- The 5 factors that lead to success:
1) Use the right broker for your strategy needs.
2) Focus on liquid/volatile markets = more meaningful returns.
3) Identify and focus on your niche (whatever feels comfortable).
4) Don't believe the hype (fundamentals), trust the chart.
5) Cut your losses the smart way, don't use arbitrary levels or numbers, use your charts.
- Market scanners can be very useful tools.
- Start by paper trading. Practice builds confidence and confidence beats hesitation derived from loss.
- Trade rule based systems, don't make decisions based on other people guessing/opinions (ie: your uncle), this includes Tv shows and excludes sentiment analysis from other experts (which is actually a good indicator).
- You may pick the tradable stocks using fundamentals (earnigs, profit returns, return on equity, revenue, etc acceleration), and time your entries using technical analysis. There are plenty of sites with good/free information.
- There will be a time when you have to find your niche and stop buying/selling anything that moves, be as picky as you can.
- Learn early: trade with a stop loss.
- know your exit system before you get in.
- Don't let winners become into losers.
- Look for the stock with the most profit potential and less risk.
- you can make more money position/swing trading than intraday trading, and it is less stressful.
- Dont believe the "trading is easy" hype. Trading is a hard/dirty game that requieres time/effort.
- Deposit your trust on the company, not so on the market.
- You need to understand how trends work, otherwise you are throwing your money away.
- When making a journal include and understand the reasons of your losses and winners.
- Find a coach/knowledgable person early on.
- Don't give up.
- Don't give up.
- Don't give up.
- Do not make use of the "hope-hold" strategy on stocks, have a business plan instead.
- Resistance may be used as a target for swing positions, and trailing is used in a way that stops are placed behind technical "cushions" such as the EMA's and manually placed trend-lines. If the stock is not behaving as expected, an exit is contemplated. Patterns such as flags and triangles can be exited by measuring its expected move beforehand and placing a target.
- New traders have to understand that indicators are best used as aids in the decision making process (foreshadowing), not as stand-alone signals. Price and volume will always be more important.
- One of the ballots of swing trading is the over-night risk. Two actions that may help to counter this is the use of lower risk/leverage, and the use of ETF's baskets.
- For swing trades, a visual (personal) scan is made on specific charts, certain preference is given to sectors that may be doing good AT the moment. For intra-day, a fundamental report may be creating a tradable momentum impulse.
- Do not try to trade perfectly (catching the exact tops and bottoms), getting the middle is good enough for your account, and you also take psychological pressure off.
- Do not chase the market. If it has moved a long way after the ideal entry do not trade. You may still consider an entry if you are foreshdowing a swing trade and the move was small enough.
- Taking breaks during the day and socializing is important for mental balance.
- Having ownership of your own trading style is the way to create longevity in the trading busisness (don't just imitate other traders).
- When recording a journal be objective with yourself and your trading.
- Being naive may help in the beginning, but...
- Find the trends within the trends and trade the chart patterns within those (trade idea).
- You have to decide beforehand, if you want to hold the trade for a longer term, or just for a short amount of time, depending on the information the market is currently giving.
- If markets range, you aim for shorter time periods, most of the time. If there is a prevailing theme (ie: weak dollar), you aim for longer haul holdings (do it in groups of stocks).
- Detect index breakouts, and stocks with increasing volume, group them into strong and weak.
- Having too many positions AT any given time (3, 4 and 5) can be distracting.
- Don't sweat the entry, you cannot put demands into the market.
- Don't judge your own trading by win/loss, growth, but in the way you make the decisions, trade management, doing the right thing.
- Kiss of death: Never let a small loss become a larger loss.
- Good traders become specialists (they know and apply specifics). They never deviate from this, and they do it over and over.
- Bad traders don't have a plan, they rather hope and engage into fantasy
- The theory of effective markets has major flaws. Firstly there are people who have made money for a long time and in a consistent basis, so that would be an statistical impossibility and suggests there is skill involved in the way they trade. Secondly, there are times when price doesn't match the inner or true value of the thing it is representing (flow of dumb money or other reasons), that is clearly a signal of market ineffectiveness.
- Markets become difficult when the proportion of skilled professionals rises as they find and exploit the innefencies-edges in that area.
- Early failure or success is no indicative of future performance.
- The traders who excel have a combination of framework (their attributes help them trade), and persistence (they don't give up easily), they also exhibit flexibility. So it's understandable that persistent people can be mildly succesful, but not excel if they are not built for the job.
- A method can be simple or complex, and complexity should never be for the sake of complexity, but as a necessity for achieving or representing an actual edge.
- Having no money management guarantees failure. Having M.M doesn't guarantee success either. An edge is necessary in all kinds of methods as the trader is naturally subjected to a "negative edge" composed of many factors.
- A failed pattern is an even more powerful pattern.
- Have your own method, don't trader others, or else you won't know the reason for the bad periods, or how they normally look like.
- There is more to trading than there is in the beginners book, so keep learning.
- Getting the same number of long and shorts during a Bull market is often not a good signal (you are missing the bigger picture).
- Always look AT the "bigger picture" (superior time-frames).
- You can look for strong turning points (double tops/bottoms) and/or market position, and then time a trade on a given signal (OHCL & Volume are the 5 variables to look for in most cases).
- You can mix scaling out and scaling in.
- Scaling out has a positive psychological effect. Scaling in after taking half a position allows to build a position into the trend.
- Some positive fundamental relases are published to fool gullible traders into buying something that has already exhausted (trust what price is telling you instead of news).
- Double tops and bottoms are tradable on both directions (you can reverse if wrong and still do good).
- Feedback from journal is a good way to determine how to increase winning habits and stop losing ones.
- The more you know a market/instrument, the clearer the patterns and "personality" are.
- Markets usually prepare themselves for the big moves where they don't move much AT all, when they move they usually do it very quick.
- Only trade moving markets.
- There is no room for amateurs in the game of life, so be a professional in anything you do.
- The hardest part for most begginers is possibly the undercapitalization that doesn't let them trade with low enough size to keep them afloat.
- Another reason why beginners have a hard time has to do with not having and edge, and using things that they believe work, but are random from an statistical perspective.
- The important thing in the beggining is to keep losses as small as possible.
- To know what works and what doesn't, there has to be research and experimentation.
- Some edges are very slim, and there is no guarantee of future benefits from them.
- The first step of success in trading is stoping lossing money, the second step is to actually be able to pay the expenses of your own trading (you become part of the elite).
- It is possible to analyze 400 or 500 charts if we are familiarized enough with the setup and keep them simple enough.
- Simplier works better than obtuse.
- Adam uses a bottom-up approach (first checks for possible setups on individual stocks then sees how the overall sector is doing).
- Multi-timeframe analysis can be done in the same chart with enough experience (Adam never uses more than 2 T.F AT the same time).
- You have to know what kind of information is relevant for the current time-frame (ie: lower T.F information is usually not that important for longer T.F analysis).
- The job of a trader is to execute his plan with total discipline, knowing that there are patches of good and bad luck on any edge.
- Become a complete trader, success only comes when everything is working accordingly (the airplane parts analogy).
- You are not going to learn how to trade, you are going to become a trader.
- Resilience (emotional intelligence) is important for long term trading success, inteligence on the other hand can be basic and is a secondary trait.
- You may have much knowledge but still don't know how to trade it, that's why screen time is important. Confidence comes from competence.
- When there is volatility due to surprise earnings, technical patterns become a cleaner.
- Become a master of your trading strategy, don´t be another jack of all trades.
- Understand what kind of strategy makes you feel confortable and which ones make you feel unconfortable, if your personality matches one of those you will have an easier time honing and trading it.
- The term "overtrading" only applies when you are losing, if you are winning keep trading.
- Have a daily limit for losses. Usually 2 or 3 starting loses lead to even more, so you need a mechanism/habit to cut yourself from making more mistakes.
- Personal problems will manifest in your trading, so better tackle those.
- Be opportunistic, and to be like that you need to take off the pressure of your hopes and dreams, or paying bills.
- Each stock will give you plenty of opportunities during the day, don't let FOMO get you.
- Skills are cheap, passion is priceless.
- Be aware of the news but don't use them as directional triggers (ie: Gambling on earnings). Trust price action, as it is the only thing that pays.
- Don't wait for a large number of confirmation triggers to appear, as it is usually a bit late. Watch the market as it evolves near the levels instead (use lower time-frames for timing).
- There is nothing wrong with pattern recognition, but it is usually best to have a deep understanding of the supply and demand forces that are driving prices instead of using formations mechanically (as signals). Most textbook patterns don't develop as advertised.
- The most important aspect of indicators and patterns is the psychology of buyers and sellers that use them.
- The volume weighted average price and MVWAP is often used by institutions to gauge value, and it usually acts as a reliable support and resistance (but always remember to watch what price does on those levels before entering).
- I don't recommend day-trading, i advises to take a swing approach first, as there is less probability for emotions to creep in and profits are usually larger. Day-trading is more of an evolution (or de-volution) from other time-frame approaches.
- The four faces of market cycles are:
1) Accumulation. (Anticipate and analysis) Bearish and bullish forces start to become more neutral and one of them starts gaining the upperhand. MA's whipsaw.
2) Mark Up. (Participate: Long or short breakouts & retracements) A pattern of higher highs and higher lows (on uptrend) or lower lows lower highs (on downtrend) starts appearing (get in). Ma's start showing inclination/declination and momentum.
3) Distribution. (Cover trades). Market neutralizes again. There is confusion and MA's turn into the opposite direction.
4) Decline. (Avoid) A strong support or resistance is broken and opposite patterns beggin to form.
- We are our worst enemies on the market.
- Focus on risk management or blow up.
- uses 1% max risk per trade + profit trailing + well funded account.
- Don't focus on prediction (it's impossible), trade present information (recomends reactive technical analysis).
- rsi and Moving Averages can be used for exits/targets.
- First you learn how to trade, and only AFTER you start trading real money (newbies do the oposite).
- Know what are the right questions to ask.
- Find whatever plan fits your needs and personality.
- Real money came from longer holding periods.
- Profitability is possible with 100% Technical Analysis (ignoring fundamentals).
- Don't fight the market, trade WITH it (trend following concept).
- Even the worst trader may have good streaks and bigs wins sooner or later, and that's enough to to keep him/her hooked.
- "You cannot" is a phrase that may be able to turn ON the competitive spirit of a trader, and make him play the top of his/her game.
- The best traders are "cut" for the job. They work hard on their edge, focus on what they are doing and take the game seriously (they become very knowledgable). They can also react quickly to the huge amounts of incoming information and combine ruthless confidence with savy flexibility. Finally they are able to cope with insane pressure as they have learned to be patient by actually practicing it.
- There is no such thing as a "free trade" when using the "break-even" move, as a matter of fact, this behaviour ends up in a negative expectancy, as the risk reward ratio is turned negatively in a large sample of trades.
- Price hitting resistance multiple times is more than not, a signal of probing by the market participants, not weakness. The market is curious by nature.
- After a market opening gap, when price goes into the direction of momentum, it may try a second high (or low), and fail to do so, creating a pattern with very high expectancy.
- Breaking the market information into the most elemental denominator (buy/sell signal), is not the optimal way to trade. Instead, use multiple sources of information such as fundamentals, technicals, sentiment. Take as many angles as possible.
- There is an interaction between the risk/reward ratios and strike rates that help tune the positive expectancy of an edge. The decision on how to manage these ratios should be considered using market structure, not arbitrary numbers themselves.
- Your journal should include: How can i increase the money i get from my winners? How can i reduce the money i lose from my losers? How can i generate new trading ideas?
- Starting (and returning) into trading can be very daunting/hard. Anand took one year and a half to start making money.
- There is not so much usefulness on college degrees for trading (related to finance), they specially lack psychology lessons.
- Every trader has a potential "personality disorder" that implies personal strengths and weakness that drag their progress.
- Many people trade for the wrong reasons/motivations, and that makes them engage into "force trading", which is actually one of the greatest flaws of human trading. Wrong reasons include: forced to make money to pay the bills, to rent a house, etc.
- Don't focus on the money itself.
- Sophistication is evergrowing in the markets, specially in the most mature areas, that makes edges harder to find.
- Markets are harder now than before.
- Technical/fundamental analysis don't work as good as they did in the past because of this sophistication and manipulation.
- tape reading is the closest you can get into price action and the interaction between market participants.
- Trade AFTER the news, not during (algorithms react faster), and not before (market future reaction is unknown).
- Don't wait until the last moment to close an options position, sell into strength (it's hard).
- The exits are prone to psychological bias and emotion.
- tape reading is an edge in itself, and it has lasted for a long time.
- Chart patterns can be seen as developing stories, which can also be synthesized (a qualitative approach).
- Most things in the trading world are taught by tradition (they are easy for a newcomer), not because they are necessarily good.
- Some days you should be the mouse (checking into details), or the eagle (the visionary), or the donkey (get to work).
- Trader psychology means the trader is more honest and self-aware, self-control becomes easier.
- VWAP is a lot better than the classic moving averages as it becomes non-responsibe when it should be like that, and more responsive as volatility spikes. It is better used intraday, on centralized markets (volume should be available).
- You want to be radical and do things differently.
- Beginners can benefit from learning the logic of coding, before learning the language (there are programs that make this easier).
- Beginners can also benefit by talking to other coders.
- Don't be a Jack-of-all-trades, study things in-depth before changing subjects, it becomes easier with time.
- Choose honest, realistic mentors.
- There are people that want to help you, the world is friendlier than you think.
- With time you become desensitized to losses, it is important to keep learning and persevere to reach such state.
- Stuart learned to trade less and keep quality high with his rule system.
- Simple works very well, our mind tries to over-complicate things, so you have to simplify things consciously.
- A rule/systematic approach helps to keep silly decision making proccess aside.
- When changing behaviours you have to take small steps, specially if they are rooted.
- Don't approach trading as a hobby, do it as a professional.
- The only way to learn is to get your own feet wet.
- Trading psychology can be a paradox. You need to be confident on your moves, but have the humility AT the same time. As humans we always want to be right intuitively.
- atr and rsi can be used to time entries and exits. rsi overbought and oversold levels and atr as probabilistic limits for a move.
- Try to target more than 1:1 (positive) risk to reward ratios (ie: 1:2, 1:4), you have to win more than you lose.
- Leverage kills most of the new traders (1: 100 is considered high).
- Figuring out yourself can help a big deal with the development of your systems and edge.
- The unleveraged challenge: During one year trade a real (small) account unleveraged, and without getting fixated into the money, asses the results for the end of the year.
- Keep it simple (people like to overcomplicate trading)
- Try to love every trade you take, no matter the result (a psychological trick to lower loss stress).
- Enjoy trading !

Re: Conseils / tips de trading (anglais)

par ChristelleP » 28 sept. 2020 05:12

Tamtam :mercichinois:

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