I am in the mid 20s, west coast, no money, trading experience is just ten introductory books (operator, wizards, etc), I follow the market daily. I like tech and trading, so I am considering FE school. I decided it is time to get off my but and into action. I am working on a short term strategy to take advantage of Mad Money TV Show. I don't even watch the show, but I came across a journal Jim Cramer's Mad Money and based on the studies Mad Money has a 5% gain on recommendations the next day. Given the time of the show, I could take advantage of the after hours trading. If I follow the realmoney.com website, I could probably pick up on Cramer's picks prior to the show. I figure the best way to do it, is to jump into a leverage position where I have to drop 5k with a broker where the broker stated they would give me overnight leverage of 4x but intraday of 20x. Am I being stupid to start off like this. I think I should go back to school to be honest. Any thoughts? My second questions is relevant to testing average volume, percentage gains, etc. What would you recommend software wise for charting information in regards to Mad Money. I am just assuming excel would suffice for inputting data and charting or is there a more efficient way to go about it other than xml data? Thanks.
Hello CashMoney69, I technically have no money atm, but I am working part time and I can always borrow money from friends. I am more concerned with my strategy. Does it sound reasonable or am I being a goofball? I would like to take every step to quantify the strategy, but I have no clue with what program to start. I am looking for a program to just upload the data instead of inputting it all in. Any suggestions ...
your plan is brilliant, WOW you are a god among men please continue to bask us with your glorious light and trading ideas
look all I am saying is even if this strategy with cramer works and I suppose it could, but how are you planing to make money once cramer strategy fails do you just assume you will find another easy picks strategy do you even have a long term plan, do you desire big money from market or do you just want money for some gas and a sandwich your thread is I NEED HELP so let me offer you some help you will need to work very, VERY hard on technicals if you hope to make a living out of market Smart people take 2-3 years, average people take 4-5 years, dumb guys take 10 years I can tell by this cramer strategy you are average, so turn off ET, and get to work you got 4 years minimum of hard work before you'll be equal to some of ET members here, me included I am not being harsh with you, just real
Cramer's show is targeted to investors, not so much to traders . Trading appears deceptively easy, especially when you think you can just follow the pros on Wallstreet. You may not want to hear this, but you have to do everything "by hand", meaning that the traders that put in the countless hours trading, researching, recording results, reading, losing, and learning from all this stuff above, is what's going to make you money, not blindly following Cramer or some fancy software package. I've traded over 260,600.00 dollars in value in the 10 months that I started trading, and that's not much when it takes years to be just an "average" trader. cm69
I totally agree and I realize I have a ways to go, but for the short term I figured why not start from here. I don't plan to take the approach of just recommendations, well technically I am, but I plan to use technical indicators to support my positions as well. It seems like a pretty simple system and if I can time it right, it should work as long as the market does not sour on me.