Since I have became a member of profit.ly only in March I am still rookie here. For example I have no idea how to follow someone...
Anyway, for those who would like to follow me or my trades or whatever, I guess it is decent to introduce my-self and mainly explain what and how do I trade.
I do not trade on personal account but I trade for FX Rich Management company. I do not know if it is advantage or disadvantage but I do know that I must deliver results.
My involvement with this industry has quite a record, since 1994 (therefore the title). Even though I have been through lot of ugly and as well lovely situations I do not consider myself as an excellent or guru trader. I just want to do it for living because it is great! Pure free market in action! I love it!
There are many ways how to profit on markets, (no doubt about it) but even more ways how to loose on markets.
I do not know which one is the best or the easiest because I believe it is just an rhetorical question.
If you will become lucky and find that way you will know the answer. The truth is that trading is not for everyone, period! My opinion, anyway.
Well, enough preaching. My "method" or approach or operation or whatever you want to call it is based on one presumption only: Markets are manipulated!
Believe it or not. The SEC and all the stupid regulations are there for one and only reason: to fool the suckers! But one more thing. God bless manipulation!! Without it there wouldn't be opportunity to profit. The prices will just reflect the publicly know facts and kept steady on their equilibrium. No action what so ever! (This is for those suckers pleading for more rules and regulations)
The way how I operate is to look for such manipulation and follow it. Sounds easy! But the whole process is more art than mechanical process.
I'm looking for the clues what the vested interest is planning. Are they accumulating the stock prior to mark up or are they distributing it prior to push it down in panic selling or are they just testing the strength and weakness.
For my stock operation I do not read or study fundamentals or news. Never! I want to stay unbiased. For my trading decisions I use Tape Reading Chart and Time & Sales window only.
Tape Reading Chart is more self-explaining and self-clarifying vehicle than Level II. In my opinion. Because there are no flashes (false bids and asks sending by high-frequency trading bots to quantify supply and demands) but only executed i.e. real trades.
For stock selection I do not use fancy algorithm but logic. Since I am looking for price action that is volatility and I want close and liquid market to be able to jump in and out easily as close as possible to my price. According to this criteria you have two choices. First trade actively trading overpriced stock or second select cheap stock which recently attracted attention. For doing so I use stock screener.
That's it! No mystery!
In case of any question please do not hesitate to contact me!
Thank you for reading!