How to Out-trade a Trader...

In the NYSE project, I was paired up with Steve (not his real name).

Steve and I traded the same stocks, but Steve was committed to trading the NYSE the way we traded NASDAQ...

This would be the perfect way to put my findings to the test...

Steve and I would start the day as usual...

Within a few minutes he'd be in his first trade... I'd wait till I saw my setup...

I would then sit back and let the trade develop... and develop and develop...

When Jessie Livermore said,

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!" 

He wasn't kidding...

On my first experiment while Steve was jumping in and out, and seemingly making more money, it only took a handful of wrong trades to lower his profitability...

But that's not what got him... what really got him were the trades when the market moved and he couldn't get in...

I found that those were the ones that really made the difference...

By just sitting and letting the market do its thing, I saved on transaction costs AND took the majority of the runs...

Of course it wasn't easy to just sit in my trades... I remember Steve looking over at my screen, and his eyes widening as he saw the position I had on...

"I can't believe you're still in that!"

In fact it was either the first or second day after working through my strategy that he then asked me, "Where are you going to sell?"

Like Babe Ruth I pointed to a spot on the chart...

"Right here.", I said, as I watched his eyes widen even more...

But what made it REALLY stand out was the fact that the market literally hit my target, let me out, then retraced... almost like magic.

You should have seen him!

He couldn't believe it... (actually neither could I) - of course there was a method to my magic... which I'll get to later...

Now you might be thinking that the order execution put Steve at huge disadvantage... and while it was a factor, even when I later compared the strategy in NASDAQ trading, the results weren't that far off...

Here's why...
 


 

 

  

 

 

 

 

 

 

 

 

 

How to consistently make money day trading the markets... even if you're currently struggling to make heads or tails of where things are going...

How to clear the chaos from the markets...

How I shifted my win/loss ratio from average to above average...

The Key To More Winning Trades and Less Losing Trades...

Bigger wins minus the shakeouts...

How to Out-trade a Trader...

Small Risk - Big Reward?

How to Make Consistent Profits...

How To Shortcut The Process...

 

 

*Disclaimer:It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
 

CFTC Rule 4.41 - "Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown."

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