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Worden Discussion Forum » Members » uhoothegossip

Profile: uhoothegossip
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User Name: uhoothegossip
Groups: Gold User, Member, TeleChart
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Joined: Thursday, December 2, 2004
Last Visit: Sunday, March 23, 2014 4:53:12 PM
Number of Posts: 2
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Topic: Beyond Technicals
Posted: Thursday, December 30, 2004 10:33:44 PM
...the most important step is to determine market direction. If you can't figure this one question, don't be trading!

Fundamentals and technicals each have their place...the hardest thing to do is to develop a trading system to match your personality [you must know who you are]; and to develop the discipline to follow it!

Next is to limit your losses...while protecting profits. Its a long race; you do not have to make a million today...just make profitable or small loss trades. Prehaps start with Dow 30 stocks which are large cap and, in general, slower moving than small caps.

Starting at a young age and saving consistantly is the first step toward financial independence. If you do not see low risk, higher profit trades .....sit with cash on the sidelines.