Markets & After hours

DSM

Well-Known Member
#1
Trading at times can be stressful with high emotions and drama. Then there are times with nothing happening for hours together as the market remains range bound. So what do we do during this time? How about hanging out at a place where we can discuss markets, strategies, ideas, observations, experiences, philosophies, jokes & humor, some pics and videos links to make life more interesting and gaining insight and exchange notes with each other.? As the previously popular thread - Las Vegas I used to hang out is closed – another one is needed.

So folks, let’s be polite, funny, respectful, share, inform, entertain and let’s support each other. Look forward to contribution from all.
 

DSM

Well-Known Member
#2
Keeping up with the light toned nature of the thread - here's daffy definition of Day Trading Terms

Advisor – the one who charges money for a piece of stock advice to cover his/her losses on the market.

Advisory Service - an advisor who lost a considerable amount of money and started new business.

Afternoon - a daily chance to give back the money you made that morning.

Average Down - what you have to do if you opened a long position and had to go to the bathroom.

Bad Trade/Stupid Trade – an unprofitable deal that someone else carries out which does not fit your trading strategy.

Broker - someone who studied hard and has a license to legally lose your money for a minute additional fee.

Chart - what you check after you exit trading, trying to understand what went wrong.

Cheap Stock - a stock the price of which will decline as soon as you decide not to open a short position on it.

Confusion - 6 open positions.

Double Up – a phrase you employ to explain your open position after you accidentally bought more instead of selling what you had.

Excellent Company - any stock you know nothing about on which you carry out a profitable deal.

Excellent Long Term Investment - Position Trading that went the wrong way right after you opened a position.

Expert – a newbie who has not begun to trade yet (see Licensed Expert).

Friday – a weekly opportunity to give back everything you gained that week

Gap Up - a stock that has a higher opening price than a closing one was the day before, and will go down if you buy it, but will continue to go up if you sell it.

Market Maker - the one who set up a secret video camera behind you and who takes the other side of each of your unprofitable trades.

Moving Average - a curly line that has nothing to do with the price movement if you have an open position.

Pain - exiting at loss, reversing your position on a stock and then watching it go the way you knew it would in the first place.

Position Trading - day trading that went the wrong way right after you took a position.

System Trading - a phrase you employ to explain how your trade did not work out the way you meant.

Technical Analysis - (traditional) a voodoo, the animal blood and chanting excluded.

Top - (when you have an open long position) the point on the chart where the stock price backs off fast before you get out; (when you have an open short position) the exact spot where you cover.

Trainer - the only man in the room who has never tried intraday trading in his life.

Trend Line - an imaginary line on the price chart that only changes when the market is closed or when you are not looking.
 

DSM

Well-Known Member
#3
This is how a trader feels after he is stopped out and the market then goes in the direction of his trade :


Little Johnny was crying one day, and his dad asked him why.
“I’ve lost five cents,” sobbed Johnny.
“Don’t worry,” said his dad kindly. “Here’s five more for you.”
At this Johnny howled louder than ever.
“Now what is it?” asked his dad.
“I wish I’d said I’d lost ten cents!”
 

DSM

Well-Known Member
#6

DSM

Well-Known Member
#8
Peter Steidlmayer – On what it takes to be a Successful Trader
-------------------------------------------------------------

Trading is being young, imperfect, and human – not old, exacting, and scientific. It is not a set of techniques, but a commitment. You are to be an information processor. Not a swami. Not a guru. An information processor.

***

Participating in the markets can only develop your trading skills. You need to become a part of the markets, to know the state of the markets at any given time, and most importantly, to know yourself.

***

You need to be patient, confident, and mentally tough. Good traders offer no excuses, make no complaints. They live willingly with the vagaries of life and the markets. In the early stages of your trading career, pay attention not only to whether you should buy or sell but also to how you have executed your trading ideas. You will learn more from your trades this way.

***

Never assume that the unreasonable or the unexpected cannot happen. It can. It does. It will.

***

Remember, you can learn a lot about trading from your mistakes. When you make a mistake – and you will – do not dwell on the negatives. Learn from the mistake and keep going. Never forget that markets are made up of people. Think constantly about what others are doing, what they might do in the current circumstances, or what they might do when those circumstances change.

***

Wise traders make many small trades, remain involved, and constantly maintain and sharpen their feel for the market. For all of their work, they hope to receive some profit, even if it is small in terms of dollars. In addition, continual participation allows them to sense and recognize the few real opportunities when they arise. These generate large rewards that make the effort of trading truly worthwhile.
 

DSM

Well-Known Member
#9
4C,

There are all kinds of people. There was a contestant on 'Who wants to be a millionaire' and this lady was asked the first question - Which is bigger, the moon or the elephant.?

She used all her lifelines, and then her final answer was 'Elephant'!!

Hard to believe, but there is a video of that on Youtube.

:)

 

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