What indicators will you choose and why?, on what time frames?, how many indicators will you use... which ones will you think of as "more important"?.. will you trade on a fed day or when earnings are to be released?, how long will you hold a buy/sell recommendation?, and how much are you willing to risk if it goes up in flames?, will you still hold when the stock gaps out of your favor?. not so "simple" now...is it? :eek: good luck cm69
1. You need develope a system by yourself, for yourself. 2. You need adpat to the market movement. Not so easy.
Do whatever you want, but don't use any type of borrowed money. Work to save up money, work on numerous trading systems and be patient. There are no shortcuts.
so your going to make 5% the next day? off of Cramers picks...is it that easy...all of his picks? or do you apply a system to it? I do not even watch Cramer, but I cannot believe it is that easy to get the pop from investors following their Guru... Your thread begs for punishment, why? Michael B.
No argument here and never said it would be simple. I was just hoping you would point me in the right direction for software as a starting point for my research other then excel.
I don't watch cramer either, but I am going to have to start soon. I am going to develop a system based on mad money. I feel like I am late to the game, but I also feel there is still room to go. If the journal holds truth and I am in the process of testing it out, why not. A system is a system no matter what area. As long as you have volume, liquidity, and a winning system, you should be good to go.
To be honest, I would not know, because I have not fully developed my system. As soon as I do, I would be happy to provide you the result of this specific trade. My main concern is finding a real time system to input my data and run tests on it other then excel. I was hoping to come to this board with my plan in hopes of being pointed in the right direction for real time software. Thank you for the information though.
There are many approaches to trading. You have chosen to use a system based on too little too late ...but this is my opinion only. Trading news and opinions...upgrades and downgrades and such I never really mastered, but I suppose some have. I use TA in my trading and have many different approaches with my excel spreadsheets to attempt to diversify. I find CNBC to be the biggest waste of a traders time out there...Let alone Mad Money. But good trading to you and all the best with your approach that you are discussing, but I urge you to really think about it...its not as easy as you envision. Michael B. My main concern is finding a real time system to input my data and run tests on it other then excel.