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Registered User
Joined: 1/7/2007
Posts: 45
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I posted this on another thread but wasn't sure if you would see it. So here is it.
HaveNoCents.....You are the best...I can't thank you enough..As you know I'm as NEW as you can get. You have a wonderful way of explaining things that even a NEWBIE understands.
I haven't posed alot in the last couple of days because I have been studying and watching the videos here.
HNC ever since I posted a newbie question you have spent alot of time on the different thread explaining StockTrading101 to us as a group.
Seeing the examples are GREAT,,,,,,,,,,,I hope I'm not asking for to much but PLEASE keep these GREAT threads coming.
THANKS!!!!THANKS!!!!THANKS!!!!!THANKS!!!!!THANKS!!!
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Registered User
Joined: 12/8/2004
Posts: 1,301
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You are more than welcome. I hope it helps you make money because after all, that is what we are all trying to do. I posted the examples to open the mind and experiment. There are thousands of trading methods. Try to become aware of as many as you can, and find a way to test those methods under different market conditions. What works in a bull market often does not work in a bear market or a range bound market. You always want to trade with the market and the best system for that market.
Good Luck.
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Registered User
Joined: 9/22/2005
Posts: 849
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Let me add my thanks, HaveNoCents.
I have been watching the posts on Stock and Markt Talk for about a year and have learnd much which I have put to good use.
Your input hss been among the best and I apprciat it very much.
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Registered User
Joined: 9/21/2005
Posts: 566
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HNC,
I read your post and had a question. You noted that not all systems work well in all markets. Do you think it possible that one could develop a 'long' style or system and complement it with a 'short' system and actively trade both systems in all market environments? This way, if the systems are reasonably good you could have some protection in either general direction? I think it would be difficult for most newbies to sit back and determine the type of market (bullish, bearish, in a range)and then select appropriate system for that market condition.
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Registered User
Joined: 8/12/2006
Posts: 83
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HaveNoCents :
QUOTE (HaveNoCents)
There are thousands of trading methods. Try to become aware of as many as you can, and find a way to test those methods under different market conditions. What works in a bull market often does not work in a bear market or a range bound market. You always want to trade with the market and the best system for that market.
We all have read a few of the Trading Analysis related books covering the basics.
Are there books covering Advanced Trading Strategies ?
Are there books one could refer to go about developing these systems?
How do professional Traders come across these Profitable Trading Systems ?
Paying 1000$ to 3000$ to Software Systems like TradingBlox may be one option.
It will be helpful to go through some examples or exercises in this regard.
Guidance is always appreciated by all of us...
Thanks in Advance to everyone contributing and making this a great learning experience and more than anything - make money along the way.
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I have heard and read that the most sucessful traders specalize in some capacity. Whether it is entry signal, price range, listed index what ever. MAny of them creat well groomed watchlists of stocks that they check every day and research them so they know those companies well. All those stocks fit their preffered criteria for thier trading style. Many swing trading strategies require a trending market so In a sidewayse market you will get an abundance of false signals, the solution in that case is to either learn a new strategy for that market condition or sit it out.
Over the last year I would have been twice as proffitable as I have been had I been able to just cool my heels at some times. That for me is a problem. there are alwayse some stocks moving so I start looking for those.. Or I think things are finaly going to break one way or the other and dozzens of tiny losses start to ad up. But when the trend starts I usually make up all my losses and then some.
It seems to me that, especially for new traders, DON'T try to learn as many systems as you can. Focus on some basic things that will improve your odds and gradualy work into the details. Most of trading is about thinking for your selves. There are dozzens of aproaches to the same trade. Find a method that works for you, makes sense to you, and is with in your risk tollerance, practice it in various market conditions, and use it in those which it works. Continue to learn and grow in all the ways that you can with reguards to technicals but don't go nuts. Overloading yourself with information, and there is allot to absorb in trading, will in my opinion only hinder. Give yourself the time to become proficient, it will take years to become truly acomplished. Wether you pay for taining and systems or not you will pay for your learning one way or the other sometimes both ways, the cost of courses and mistakes.
Eventually You will want a basic strategy for Uptrends, down trends, and rangebound stocks, but these will depend on your prefered hold time, risk tollerance, etc. beyond that other conditions may be a factor. the truely tricky part... for me is recognizing a change of trend early enough to anticipate it and then staying out of the markets I don't perform well in. But we work on those things.
It is important to keep clear logs of all your trades, especially in the beginning. Record the overall market condidtions, the indicators, why you picked the stock... and then review your trades, good and bad monthly, and then check back on them in two months. I for example had a habit of just being impatient and dumpoing things prematurely, or getting skittish. Had I held with a slightly wider top for a longer time period I would have made good proffits. That was a pattern for me .. So I know that ihave a tendency to pick stock that are strong but not in the imediate future Adjustments can be made.
I'm not a master, I am proffitable, so I hope this helps.
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