| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 11/8/2004
Posts: 3
|
I've lost $150,000 over a 3 year period in commodities. If you know how to make money please contact me. No need to send condolances on my losses - I just want to learn how to make money.
|
|
Registered User
Joined: 11/16/2004
Posts: 105
|
tjmj,
No condolances on my part, you know how to make $150,000.
My guess is you will make it back again. I think the stock market is different from playing the commodity game because it is easier to manage risk & one can still leverage. Rather than a zero sum market their can be more winners investing in companies with good stocks.I can give just a bit of personal knowledge that I can pass on from pro's I've learned from over the years.
1.Choose a style of trading that you are comfortable with and a trading time frame that suits your lifestyle
2.Cut your losses early & let your winning picks run out using predetermines sell signals, such as tecnical indicators like MA cross overs, Stochastics, candle patterns, etc.
3.Diversify by asset class. Look for strong stocks in srtong rising sectors with a good mix of growth & value.
4.Keep it simple!
|
|
Registered User
Joined: 2/1/2005
Posts: 1
|
tjmj,
TC2000 is an excellent tool, but one needs to learn to use it. I did loose money when I started, but continued remarks about use of various indicators in daily reports/notes and Kights' input has been the best education one can find. Start slow or paper trade if you have the dicipline.
I follow simple rules.
Look for good fundamentals. Scan for earnings, p/e, and other factors you feel are important. Then keep fine tuning indicator tabs with what various knights have contributed. Soon you will have the indicators set up with which you are comfortable. Stick with the criteria set up by you and it is bound to get results.
I have usually lost on trades, any time I ignored my set criteria.
nijap
|
|
Registered User
Joined: 12/19/2004
Posts: 415
|
QUOTE (nijap) tjmj,
.....
I follow simple rules.
Look for good fundamentals. Scan for earnings, p/e, and other factors you feel are important.
...
nijap
While you have very good thoughts, there are always downsides to all that you mentioned.
Looking for "good" fundamentals; what is good to one may not be good to all. A company can have fundamentals that appear to be strong and then publish an earnings warning, or give an intent to buy another company that is not supported by the "street", or by changing the direction of the company or the business model. It may seem trivial and not be part of a good fundamental company, but I have had stocks in companies that have executed all of the above, normally at times when trading was not occuring. When trade opened they tanked.
Using indicators is great provided that you read them correctly and the indicators aren't head fake outs. I would add a stop loss on any trade that is made. This may not make any money for you, but will help protect you on the downside. Whatever set of indicators that you start using, periodically review them for changes in the market.
Best of luck.
|
|
Registered User
Joined: 10/7/2004
Posts: 2,126
|
tjmj i was surprise to come across your posting. A loss of $150,000 is a substantial loss. How did this happen? I hope it wasn't just a single bet. I do not trade commodities, I know little about commodities, but I am sure that risk/reward ratios, and stop losses apply in similar ways.
Anyway, tell me a little more about how it happen. I have substained big losses one time or another too, but I did recover. For example in 2003 at the turn of the market from bear to bull I took a loss of about 46,000 in just 3 or 4 days. I was short on VRTS on 10,000 and the market turn on me. At the time, I was betting the market wasn't done just yet going down, but it was. I did recover from that trade later.
I actually have been making money consistently, by using my own system. I will have a commercial site up and running by year's end, and that site will provide the system rules and the candidates to use. I know from friends and other traders that it is hard to make money in the markets, it takes a special kind of personality.
And it is hard anyways, there is a lots of deception, and manipulation. But if you hassle long enough with the hasslers you can hassle them.
I can give any personal info on this board, but when my site is up we can try to meet at a different place, and i will provide you with the site's domain. Don't give up you can make lots of money in these markets. Once you hit rock bottom there is only one way to go - up.
good luck
|
|
Registered User
Joined: 11/6/2004
Posts: 17
|
tmtj,
Yes, you can make money in the markets, but it is hard. Most people think that if they get the right system or indicators, that's all they need. I found that for me, emotions and money management were 90% of the problem;
the system was only 10%.
The number one thing, strangely enough, is keeping good records. Go over your trades for the past year and see why you bought what you bought. Did you have an exit strategy? Did you change your strategy half way through the trade? etc. I don't mean just number of shares and price, but how you found the stock, what did the chart and financials look like, what was your strategy if it went up x% or down y% the first week, etc. How big was your trade as a percent of your equity, etc.
Buy the book "Trading for a Living" by Dr. Alexander Elder, WITH the workbook. Read the book and do all of the workbook. The book is very easy reading, but the workbook is VERY hard. Read the book again and do the
workbook again. Keep doing this until you only get one or two of the questions for each chapter wrong. This may take five to ten times!!
If you do this, I will be very surprized if you don't see a huge difference in your trading. Go back through two years of Worden Notes and read what
the Knights have written. These people have been there.
|
|
Registered User
Joined: 4/8/2005
Posts: 9
|
Hi tjmj
The anser is yes. The secret is to be in the right market that has a good future.I turned 30,000 in
to 90,000 in the last year and a half by investing
in the oil and gas industry. I sold out when my indicators showed a toping out. I am 95% in cash
now and am researching fuel cells, solar panels
and BPL. There are a lot of companies in fuel
cells but most charts are not too healthy yet and
only large co.like GE etc. in solar panels in
the USA. I found that China has a huge market in
solar cells. BPL stands for broadband over power
over power lines which will be a huge market in the future. The the knack is to pick strong industries
that will grow out of any pullbacks if you miss a
tempory exit signal. I think the tempeorary lull in
energy stocks will prove to be an example.
lepaul
|
|
|
Guest-1 |